Financial Performance - Q3 2025 revenue was CNY 397,246,057.55, a decrease of 0.81% year-over-year, while year-to-date revenue increased by 18.87% to CNY 1,194,766,367.29[3] - The net profit attributable to shareholders for Q3 2025 was a loss of CNY 6,732,685.90, a 93.57% increase in loss compared to the same period last year, with a year-to-date profit of CNY 5,430,990.16, down 91.70% year-over-year[3] - Total operating revenue for the current period reached ¥1,194,766,367.29, an increase of 18.86% compared to ¥1,005,111,902.89 in the previous period[21] - Total operating costs amounted to ¥1,207,774,665.32, up from ¥1,164,273,683.45, reflecting a growth of 3.73%[21] - Net profit for the current period was ¥5,206,349.06, a significant decrease of 91.93% from ¥64,612,588.78 in the previous period[22] - The total comprehensive income for the current period was ¥5,419,198.66, down from ¥64,805,716.94, a decline of 91.66%[23] Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 223,948,223.90, representing a significant increase of 328.79%[3] - The net cash flow from operating activities for the first nine months of 2025 reached ¥223,948,223.90, a significant increase of 328.79% compared to ¥52,228,518.39 in the same period of 2024, primarily due to the receipt of passive financial support funds[12] - The net cash flow from investing activities showed a decline of 121.57%, amounting to -¥30,048,307.13, compared to ¥139,311,867.35 in the previous year, mainly due to asset purchases and external investments[12] - The net cash flow from financing activities improved by 53.51%, totaling -¥120,390,660.46, compared to -¥258,985,580.89 in the same period last year, primarily due to a reduction in debt repayments[12] - The net increase in cash and cash equivalents was ¥70,497,038.30, a turnaround of 195.68% from -¥73,676,883.08 in the previous year, reflecting the combined effects of cash flows from operating, investing, and financing activities[12] Assets and Liabilities - Total assets as of September 30, 2025, were CNY 2,525,655,767.97, an increase of 4.36% from the end of the previous year[3] - The company’s total liabilities increased by 149.50% in contract liabilities to CNY 87,572,519.91, reflecting an increase in advance payments received[9] - The total liabilities increased to ¥2,028,123,898.08 from ¥1,928,288,812.05, marking a rise of 5.19%[21] - The total equity attributable to shareholders of the parent company was ¥497,892,052.87, slightly up from ¥492,269,498.07, reflecting an increase of 1.27%[21] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 62,291, with 62,249 being A-share holders[13] - The top ten shareholders held significant stakes, with Hong Kong Central Clearing Limited owning 32.08% (255,950,980 shares) and Shouguang Molong Holdings Limited holding 29.53% (235,617,000 shares)[13] Management and Expenses - Management expenses decreased by 69.42% to CNY 28,998,668.25, due to cost control measures and reduced expenses following the transfer of subsidiary equity[10] - Research and development expenses rose to ¥26,412,555.10 from ¥21,513,788.05, an increase of 22.87%[22] Other Financial Activities - The company completed a debt transfer and restructuring agreement, transferring a debt of ¥169,119,800 to Shouguang Vegetable Wholesale Market Company, receiving ¥84,000,000 in cash and property valued at ¥85,119,800[15] - As of the report date, the balance of financial support from Shouguang Baolong was ¥292,000,000, while the financial support from Weihai Baolong had been fully repaid[16] Audit and Future Reporting - The company did not undergo an audit for the third quarter financial report, which may affect investor confidence[25] - The company plans to implement new accounting standards starting in 2025, which could impact future financial reporting[26]

Financial Performance - The company's operating revenue for the third quarter was CNY 397,246,057.55, a decrease of 0.81% compared to the same period last year, while the year-to-date revenue reached CNY 1,194,766,367.29, an increase of 18.87%[6] - The net profit attributable to shareholders for the third quarter was a loss of CNY 6,732,685.90, representing a 93.57% decline year-on-year, while the year-to-date net profit was CNY 5,430,990.16, down 91.70%[6] - The basic and diluted earnings per share for the third quarter were both CNY (0.0084), a decrease of 93.60% compared to the same period last year, with year-to-date earnings per share at CNY 0.0068, down 91.71%[6] - Total operating revenue for the current period reached ¥1,194,766,367.29, an increase of 18.83% compared to ¥1,005,111,902.89 in the previous period[32] - Net profit for the current period was ¥5,206,349.06, a significant decrease of 91.93% from ¥64,612,588.78 in the previous period[33] - Basic and diluted earnings per share were both ¥0.0068, down from ¥0.0820 in the previous period[35] Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date period was CNY 223,948,223.90, an increase of 328.79% compared to the previous year[6] - Cash inflow from operating activities totaled ¥1,702,283,987.08, compared to ¥1,107,475,340.06 in the previous period, representing a growth of 53.47%[36] - Cash inflow from financing activities amounted to $2,017,944,515.52, down from $2,772,744,400.69[38] - The ending cash and cash equivalents balance was $155,825,160.09, significantly higher than $13,963,888.72 at the end of the previous period[38] - The company reported a cash outflow of $2,064,090,369.07 for debt repayment, compared to $2,900,695,394.98 previously[38] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,525,655,767.97, reflecting a 4.36% increase from the end of the previous year[6] - Total current assets amounted to RMB 1,883,208,185.22, a decrease from RMB 1,935,407,894.38 at the beginning of the period[27] - Non-current assets totaled RMB 642,447,582.75, increasing from RMB 484,774,982.76 at the beginning of the period[29] - Total liabilities increased to ¥2,028,123,898.08 from ¥1,928,288,812.05, marking a rise of 5.19%[30] - The company reported short-term borrowings of RMB 1,375,664,448.79, slightly down from RMB 1,425,765,913.39 at the beginning of the period[29] Investments and Receivables - Accounts receivable increased by 232.99% to CNY 93,491,883.02, primarily due to the receipt of commercial acceptance bills[11] - Long-term equity investments surged by 2,400.30% to approximately 41.67 million, primarily from external investments[12] - The company’s accounts receivable rose to RMB 266,675,896.59 from RMB 220,326,415.43 at the beginning of the period[27] Expenses and Cost Management - Management expenses decreased by 69.42% to approximately 28.99 million, due to cost control measures and reduced expenses after equity transfers[15] - Research and development expenses for the current period were ¥26,412,555.10, up from ¥21,513,788.05, indicating a growth of 22.67%[32] Shareholder Information - The number of common shareholders at the end of the reporting period was 62,291, with significant holdings by Hong Kong Central Clearing and Shouguang Molong Holdings[20] - The equity attributable to shareholders at the end of the reporting period was CNY 497,892,052.87, a slight increase of 1.14% from the previous year[6] Other Notable Events - The company completed a debt transfer and restructuring agreement, transferring a debt of RMB 169.1198 million to a wholesale company, receiving RMB 84 million in cash and properties valued at RMB 85.1198 million[23] - The company did not conduct an audit for the third quarter financial report[39] - The financial report was issued by the board of directors led by Chairman Han Gaogui[40]

Core Insights - The article highlights the changes in the Hong Kong Stock Connect holdings, indicating significant increases and decreases in ownership percentages for various companies [1][2]. Summary by Category Increase in Holdings - Qin Port Co., Ltd. (03369) saw the largest increase in holdings, up by 2.96%, bringing its total to 44.15% [2]. - Derin Holdings (01709) increased by 2.52%, with a new holding percentage of 34.54% [2]. - The third largest increase was for Dazhong Public Utilities (01635), which rose by 2.37% to 68.11% [2]. - Other notable increases include Dongjiang Environmental (00895) at +2.02% (45.01%) and Chalco International (02068) at +1.64% (22.58%) [2]. Decrease in Holdings - Shandong Molong (00568) experienced the largest decrease, down by 2.16% to 61.11% [2]. - Heng Seng China Enterprises (02828) decreased by 1.58%, now at 1.07% [2]. - Rongchang Biopharmaceutical (09995) saw a reduction of 1.22%, bringing its holding to 52.18% [2]. - Other significant decreases include Tigermed (03347) at -0.85% (48.64%) and Huahong Semiconductor (01347) at -0.82% (22.27%) [2]. Five-Day Changes - Over the last five trading days, Derin Holdings (01709) had the highest increase at +8.02% (34.54%) [3]. - Shandong Molong (00568) also increased by 5.99% (61.11%) [3]. - The largest decrease was for Haotian International Investment (01341), which fell by 7.81% to 51.15% [3]. Twenty-Day Changes - In the last twenty days, Cang Port Railway (02169) saw a significant increase of 30.08% (43.33%) [4]. - GX Hengsheng Technology (02837) increased by 19.69% (20.23%) [4]. - The largest decrease was for Haotian International Investment (01341), down by 9.64% to 51.15% [4].

Core Viewpoint - Shandong Molong experienced a decline of 1.54% in its stock price, with significant trading activity reflected in a turnover rate of 32.77% and a trading volume of 1.462 billion yuan, indicating high volatility and investor interest [2] Trading Activity - The stock was listed on the Dragon and Tiger List due to a daily fluctuation of 15.49% and a turnover rate of 32.77%, with institutional investors net buying 31.4188 million yuan and the Shenzhen Stock Connect net buying 15.0759 million yuan [2] - The top five trading departments accounted for a total transaction volume of 401 million yuan, with a net buying amount of 33.1127 million yuan [2] - Among the trading departments, three institutional special seats were active, with a total buying amount of 86.1628 million yuan and selling amount of 54.7440 million yuan, resulting in a net buying of 31.4188 million yuan [2] Fund Flow - The stock saw a net inflow of 31.9999 million yuan from major funds, with large orders contributing 18.3871 million yuan and big orders contributing 13.6128 million yuan [3] - Over the past five days, the stock experienced a net outflow of 7.5622 million yuan in major funds [3] Historical Performance - In the past six months, the stock has appeared on the Dragon and Tiger List 17 times, with an average price increase of 2.36% the day after being listed and an average increase of 2.06% over the following five days [2]

Core Insights - The article highlights the top and bottom AH premium rates for various stocks, indicating significant discrepancies between H-shares and A-shares [1][2][3] Group 1: Top AH Premium Rates - Northeast Electric (00042) leads with an AH premium rate of 847.37%, followed by Sinopec Oilfield Service (01033) at 247.50% and Hongye Futures (03678) at 235.59% [1][2] - The top three stocks with the highest deviation values are Shandong Molong (00568) at 49.33%, Northeast Electric (00042) at 23.99%, and Sinopec Oilfield Service (01033) at 20.12% [1][3] Group 2: Bottom AH Premium Rates - The stocks with the lowest AH premium rates include Ningde Times (03750) at -17.62%, China Merchants Bank (03968) at 0.46%, and Heng Rui Medicine (01276) at 0.64% [1][2] - The bottom three stocks with the lowest deviation values are Shanghai Electric (02727) at -23.60%, China National Foreign Trade Transportation (00598) at -16.42%, and First Tractor Company (00038) at -16.03% [1][3] Group 3: Additional Insights - The article provides a detailed ranking of the top ten and bottom ten AH stocks based on premium rates and deviation values, showcasing the volatility and investment potential in the AH market [2][3]

Core Viewpoint - The shale gas sector experienced a significant decline, with multiple companies opening lower in the market, indicating a bearish sentiment in the industry [1] Company Performance - ShenKong Co. faced a limit down in its stock price during the bidding process [1] - Petrochemical Machinery saw a drop of over 8% in its stock price [1] - Other companies such as Shandong Molong, Petrochemical Oilfield Services, and Tongyuan Petroleum also opened lower, reflecting a broader trend in the shale gas sector [1]

Core Insights - The report highlights significant changes in the Hong Kong Stock Connect holdings, with notable increases and decreases in ownership percentages for various companies [1][2]. Summary by Category Increased Holdings - China Aluminum International (02068) saw an increase of 4.32%, bringing its latest holding percentage to 20.94% [2]. - Shandong Molong (00568) experienced a 2.69% increase, with a current holding of 63.27% [2]. - Beijing Beichen Industrial Holdings (00588) increased by 2.59%, now holding 41.93% [2]. - In the last five trading days, Shandong Molong (00568) had the highest increase at 8.40%, with a holding of 63.27% [3]. - Other notable increases in the last five days include Ying En Bio-B (09606) at 7.65% and Derin Holdings (01709) at 5.55% [3]. Decreased Holdings - Dreamland (01119) reported a decrease of 1.69%, with a current holding of 13.11% [2]. - Chifeng Jilong Gold Mining (06693) decreased by 0.71%, now at 46.23% [2]. - Jiufang Zhitu Holdings (09636) saw a reduction of 0.55%, with a holding of 17.45% [2]. - In the last five trading days, Haotian International Investment (01341) had the largest decrease at -7.78%, now holding 51.05% [3]. - Other significant decreases include Ocean Park (02255) at -5.92% and Goldwind Technology (02208) at -3.19% [3]. Long-term Trends - Over the past 20 days, Canggang Railway (02169) had the highest increase at 31.12%, with a holding of 43.18% [4]. - The largest decrease over the same period was seen in Haotian International Investment (01341) at -9.50%, with a holding of 51.05% [4].

Group 1 - The company's stock (Shandong Molong Petroleum Machinery Co., Ltd.) experienced an abnormal trading fluctuation, with a cumulative closing price increase exceeding 20% over two consecutive trading days (October 22 and October 23, 2025) [1] - The company's board of directors conducted inquiries and confirmed that there were no significant undisclosed matters affecting the stock price, and the company's operational situation remained stable without major changes [1][2] - The board confirmed that there are no undisclosed matters that should have been disclosed according to the Shenzhen Stock Exchange regulations, and previous disclosures do not require correction or supplementation [2] Group 2 - The company emphasized that it adheres to fair information disclosure practices and has not violated any related regulations [3] - The designated media for the company's information disclosure includes China Securities Journal, Shanghai Securities Journal, Securities Daily, Securities Times, and the Giant Tide Information Network [3]

Group 1 - Shandong Molong experienced a trading halt with a daily turnover rate of 34.39% and a trading volume of 1.65 billion yuan, with a price fluctuation of 16.15% [1] - Institutional investors net bought 15.17 million yuan, while the Shenzhen Stock Connect saw a net purchase of 20.06 million yuan [1] - The stock was listed on the Shenzhen Stock Exchange's watch list due to its significant daily price fluctuation and turnover rate [1] Group 2 - Over the past six months, the stock has appeared on the watch list 16 times, with an average price increase of 2.62% the following day and 2.73% over the next five days [2] - The stock saw a net outflow of 86.51 million yuan in main funds today, with large orders contributing to a significant portion of this outflow [2] - Detailed trading data shows that the top five trading departments accounted for a total transaction of 341 million yuan, with a net purchase of 31.29 million yuan [2]

Group 1 - Shandong Molong (002490) experienced a significant decline, with A-shares hitting the limit down and H-shares dropping by 14.51% to 4.3 HKD, with a trading volume of 703 million HKD [1] - The company announced that it has not discovered any undisclosed significant information that could impact its stock trading price, and there have been no major changes in its production and operational environment [1] - The deep earth economy has recently become a market focus, with Shandong Molong's main products including oil drilling machinery, leading to a notable increase in stock performance with five consecutive trading limit ups [1] Group 2 - The Ministry of Natural Resources indicated that during the 14th Five-Year Plan period, efforts will be made to seize the standardization high ground in emerging and future industries such as deep sea and deep earth [1] - The global deep earth economy is projected to exceed 25 trillion USD by 2030, while the domestic market for deep earth-related industries is expected to surpass 5 trillion CNY between 2026 and 2030, with an initial commercialization growth rate of 40% [1]