Group 1 - Robotech signed a significant contract worth approximately 600 million yuan for mass production coupling equipment and services applicable to pluggable silicon photonics technology, which is expected to positively impact the company's performance in 2026 [2] - China Eastern Airlines plans to purchase 101 Airbus A320NEO series aircraft at a catalog price totaling about 158.02 million USD, equivalent to approximately 108.93 billion yuan, with deliveries scheduled between 2028 and 2032 [2] - Huagong Technology projected a 20% year-on-year increase in net profit for 2025, with a proposed cash dividend of 2.5 yuan per 10 shares [18] Group 2 - Huadian Technology signed a 740 million yuan EPC contract for an offshore wind power project, with the company responsible for 693 million yuan of the contract amount [3] - Yahua Group signed a five-year lithium spodumene concentrate procurement agreement, ensuring a stable supply of resources for lithium salt product production [4] - China Life Insurance plans to invest 2.8 billion yuan in the Xinxin Technology Innovation Fund, focusing on private equity secondary markets and technology innovation sectors [6] Group 3 - Ruineng Technology is planning to acquire control of Botai Intelligent through a combination of issuing A-shares and cash payments, with stock suspension starting March 26 [8] - Debon Holdings will terminate its listing on the Shanghai Stock Exchange on March 31, 2026, after receiving approval for voluntary withdrawal [9] - New Yellow River announced the resignation of Chairman Zhao Zhengrong due to personal health reasons, with no adverse impact on the company's operations [10] Group 4 - Jiahua Food intends to invest approximately 1 billion yuan in a smart manufacturing project for super plant-based milk [11] - Xiamen Tungsten plans to acquire a stake in Jiangxi Jutong to enhance its tungsten resource self-sufficiency [12] - Energy Wind Power announced the resignation of its director and general manager Yang Zhongxu, with a smooth transition of responsibilities [13] Group 5 - Zhongtai Engineering reported a new contract amount of 18.964 billion yuan for January-February 2026, reflecting a year-on-year growth of 0.54% [26] - Jinli Permanent Magnet reported a 142.44% year-on-year increase in net profit for 2025, with a proposed cash dividend of 2.2 yuan per 10 shares [27] - Noya New Materials reported a 337.6% year-on-year increase in net profit for 2025, with a proposed cash dividend of 3.2 yuan per 10 shares [23]

证券代码：600339 证券简称：中油工程 公告编号：临 2026-009 中国石油集团工程股份有限公司 关于 2026 年 2 月份新签合同额情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 中国石油集团工程股份有限公司（以下简称"公司"）新签合同额数据为阶段性 统计数据，由于项目实施过程中或存在工作量变化、财务核算、税费等因素，公司未来 实现的营业收入与签约额可能并不完全匹配，敬请广大投资者注意。 由于签约项目中部分合同履行周期较长，合同实施后可能将对公司未来一段时期 的营业收入和利润总额产生影响。 特别风险提示：在合同履行过程中如遇市场、经济、政治等不可预计的或不可抗 力等因素，有可能会影响合同正常履行，提请广大投资者注意投资风险。 2026 年 1-2 月份，公司累计实现新签合同额 189.64 亿元，同比增长 0.54%。其中， 2 月份新签合同额 79.75 亿元，签署单笔合同额 10 亿元以上工程合同 1 项。现将有关 内容公告如下： 一、2026年度累计新签合同额情况 1. 按市 ...

证券代码：600339 证券简称：中油工程 公告编号：2026-008 中国石油集团工程股份有限公司 担保对象及基本情况 | 被担保人名称 | 本次担保金额 | 担保余额（不含 | 实际为其提供的 | | 是否在前 期预计额 | 本次担 保是否 | | --- | --- | --- | --- | --- | --- | --- | | | | 本次担保金额） | | | 度内 | 有反担 保 | | 廊坊中油朗威工程项目管理有限公司 | 127.58 万元 | 2,078.43 | | 万元 | 是 | 否 | | 北京兴油工程项目管理有限公司 | 23.14 万元 | | 7,004.90 | 万元 | 是 | 否 | 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股子公司对外担保总额（万元） | 4,240,521.02 | | 对外担保总额占上市公司最近一期经审计净资产的比例（%） | 159.95 对外担保总额（含本次）超过上 | | | 市公司最近一期经审计净资产 50% 对外担保总额（含本次）超过上 | | | 市公 ...

Report Title - Crude Oil Weekly Report: Continued Conflict in the Middle East Drives Up International Oil Prices [1] Report Date - March 23, 2026 [1] Report Analysts - Chen Shuxian, Chief Securities Analyst for Big Chemicals, CFA, License No. S0600523020004, Contact: chensx@dwzq.com.cn [1] - Zhou Shaowen, Securities Analyst for Petrochemicals, License No. S0600525070005, Contact: zhoushm@dwzq.com.cn [1] Report Investment Highlights US Crude Oil - **Price**: The weekly average prices of Brent/WTI crude oil futures from March 16 - 20 were $106.4/$96.1 per barrel, up $9.9/$4.1 per barrel from the previous week [4] - **Inventory**: Total US crude oil inventory, commercial crude oil inventory, strategic crude oil inventory, and Cushing crude oil inventory were 8.6/4.5/4.2/0.3 billion barrels respectively, with a week - on - week increase of 6.16/6.16/0/0.94 million barrels [4] - **Production**: US crude oil production was 13.67 million barrels per day, down 0.01 million barrels per day week - on - week. The number of active US crude oil rigs was 414 this week, up 2 from the previous week. The number of active US fracturing fleets was 172 this week, down 8 from the previous week [4] - **Demand**: US refinery crude oil processing volume was 16.23 million barrels per day, up 0.06 million barrels per day week - on - week; the refinery crude oil utilization rate was 91.4%, up 0.6 percentage points week - on - week [4] - **Imports and Exports**: US crude oil imports, exports, and net imports were 7.19/4.9/2.3 million barrels per day, with a week - on - week change of +0.77/+1.46/ - 0.69 million barrels per day [4] US Refined Oil - **Price and Spread**: The weekly average prices of US gasoline, diesel, and jet fuel were $131/$174/$153 per barrel respectively, up $13.9/$23.2/$11.3 per barrel from the previous week; the spreads to crude oil were $26/$69/$48 per barrel respectively, up $6.5/$15.8/$3.9 per barrel from the previous week [4] - **Inventory**: US gasoline, diesel, and jet fuel inventories were 2.4/1.2/0.4 billion barrels respectively, with a week - on - week change of - 5.44/ - 2.53/+2.38 million barrels [4] - **Production**: US gasoline, diesel, and jet fuel production were 9.43/4.87/1.88 million barrels per day respectively, with a week - on - week change of - 0.46/ - 0.08/+0.07 million barrels per day [4] - **Demand**: US gasoline, diesel, and jet fuel consumption were 8.73/4.4/1.37 million barrels per day respectively, with a week - on - week change of - 0.51/+0.33/ - 0.42 million barrels per day [4] - **Imports and Exports**: - Gasoline: Imports, exports, and net exports were 0.06/0.95/0.89 million barrels per day, with a week - on - week change of - 0.12/+0.07/+0.19 million barrels per day [4] - Diesel: Imports, exports, and net exports were 0.22/1.05/0.83 million barrels per day, with a week - on - week change of +0.04/ - 0.2/ - 0.24 million barrels per day [4] - Jet fuel: Imports, exports, and net exports were 0.15/0.32/0.17 million barrels per day, with a week - on - week change of +0.09/+0.11/+0.03 million barrels per day [4] Recommended Listed Companies - Recommended: CNOOC Limited (600938.SH/0883.HK), PetroChina Company Limited (601857.SH/0857.HK), Sinopec Corporation (600028.SH/0386.HK), CNOOC Energy Technology & Services Limited (601808.SH), Offshore Oil Engineering Co., Ltd. (600583.SH), CNOOC Energy Development Co., Ltd. (600968.SH) [5] - Suggested to pay attention to: Sinopec Oilfield Service Corporation (600871.SH/1033.HK), China Petroleum Engineering & Construction Corporation (600339.SH), Sinopec Mechanical Engineering Corporation (000852.SZ) [5] Report Structure and Summary 1. Crude Oil Weekly Data Briefing - Data sources include Bloomberg, WIND, EIA, TSA, Baker Hughes, and Dongwu Securities Research Institute [10][11] 2. This Week's Performance Review of the Petrochemical Sector 2.1 Petrochemical Sector Performance - Information about the performance of the petrochemical sector and its sub - industries, including their price movements and trends, with data from WIND and Dongwu Securities Research Institute [13][14][15] 2.2 Performance of Listed Companies in the Sector - **Upstream Companies' Price Movements**: Provided price, market capitalization, and price change data for multiple upstream listed companies in the petrochemical sector over different time periods (last week, last month, last three months, last year, and since the beginning of 2026) [23][24][25] - **Valuation of Listed Companies**: Presented the valuation table of listed companies, including stock price, market capitalization, net profit attributable to shareholders, PE, and PB for different years (2024A, 2025E, 2026E, 2027E) [26] 3. Crude Oil Sector Data Tracking 3.1 Crude Oil Price - Analyzed the prices and price spreads of various crude oils such as Brent, WTI, Russian Urals, and ESPO, as well as the relationship between the US dollar index, LME copper price, and WTI crude oil price [32][34][36] 3.2 Crude Oil Inventory - Studied the inventory of US crude oil, including total inventory, commercial inventory, strategic inventory, and Cushing inventory, and the relationship between inventory and oil prices [42][43][45] 3.3 Crude Oil Supply - Tracked US crude oil production, the number of oil rigs, and the number of fracturing fleets, and their relationship with oil prices [56][58][59] 3.4 Crude Oil Demand - Monitored US refinery crude oil processing volume, refinery utilization rate, and the seasonal and regular utilization rates of refineries in Shandong and major refineries in China [63][65][68] 3.5 Crude Oil Imports and Exports - Analyzed US crude oil imports, exports, and net imports, as well as the imports, exports, and net imports of crude oil and petroleum products [72][74] 4. Refined Oil Sector Data Tracking 4.1 Refined Oil Price - Discussed the relationship between international oil prices and domestic refined oil prices, and analyzed the price spreads between crude oil and various refined oils in different regions (US, Europe, Singapore) [79][82][104] 4.2 Refined Oil Inventory - Tracked the inventories of gasoline, diesel, and jet fuel in the US and Singapore [117][122][127] 4.3 Refined Oil Supply - Monitored the production of gasoline, diesel, and jet fuel in the US [134][136] 4.4 Refined Oil Demand - Analyzed the consumption of gasoline, diesel, and jet fuel in the US, as well as the number of airport security checks [140][143][148] 4.5 Refined Oil Imports and Exports - Studied the import, export, and net export situations of gasoline, diesel, and jet fuel in the US [151][156][157] 5. Oilfield Services Sector Data Tracking - Tracked the average daily rates of self - elevating drilling platforms and semi - submersible drilling platforms in the industry [167][171]

本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国石油集团工程股份有限公司（以下简称"公司"）近日收到中国证券监 督管理委员会出具的《关于同意中国石油集团工程股份有限公司向特定对象发行 股票注册的批复》（证监许可〔2026〕374 号），主要内容如下： 一、同意你公司向特定对象发行股票的注册申请。 二、你公司本次发行应严格按照报送上海证券交易所的申报文件和 发行方案实施。 证券代码：600339 证券简称：中油工程 公告编号：临 2026-007 中国石油集团工程股份有限公司 关于向特定对象发行 A 股股票申请 获得中国证券监督管理委员会同意注册批复的公告 四、自同意注册之日起至本次发行结束前，你公司如发生重大事项，应及时 报告上海证券交易所并按有关规定处理。 公司将按照上述批复文件以及相关法律法规要求和公司股东会授权，在规定 期限内办理本次向特定对象发行 A 股股票相关事宜，并及时履行信息披露义务， 敬请广大投资者注意投资风险。 特此公告。 中国石油集团工程股份有限公司董事会 2026 年 3 月 10 日 三、本批复自同 ...

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints - This week, the average weekly prices of Brent and WTI crude oil futures were $83.7 and $78.5 per barrel respectively, up $12.5 and $12.6 from last week. The total US crude oil inventory, commercial crude oil inventory, strategic crude oil inventory, and Cushing crude oil inventory were 8.5, 4.4, 4.2, and 0.3 billion barrels respectively, with a week - on - week increase of 3.48, 3.48, 0, and 1.56 million barrels. The US crude oil production was 13.7 million barrels per day, a week - on - week decrease of 10,000 barrels per day. The number of active US crude oil rigs this week was 411, a week - on - week increase of 4. The number of active US fracturing fleets this week was 167, a week - on - week increase of 3. The US refinery crude oil processing volume was 15.84 million barrels per day, a week - on - week increase of 180,000 barrels per day; the US refinery crude oil operating rate was 89.2%, a week - on - week increase of 0.6 percentage points. The US crude oil imports, exports, and net imports were 6.32, 4, and 2.33 million barrels per day respectively, with a week - on - week decrease of 340,000, 320,000, and 20,000 barrels per day [2]. - The average weekly prices of US gasoline, diesel, and jet fuel were $105, $135, and $89 per barrel respectively, with a week - on - week change of +$20.6, +$22.4, and -$5.1. The price spreads with crude oil were $23, $53, and $7 per barrel respectively, with a week - on - week change of +$9.9, +$11.7, and -$15.8. The US gasoline, diesel, and aviation kerosene inventories were 2.5, 1.2, and 0.4 billion barrels respectively, with a week - on - week change of -1.7, +0.43, and -0.25 million barrels. The US gasoline, diesel, and aviation kerosene production were 9.33, 4.81, and 1.72 million barrels per day respectively, a week - on - week increase of 120,000, 60,000, and 60,000 barrels per day. The US gasoline, diesel, and aviation kerosene consumption were 8.29, 3.7, and 1.72 million barrels per day respectively, with a week - on - week change of -440,000, -200,000, and 0 barrels per day. The US gasoline imports, exports, and net exports were 140,000, 1.07 million, and 930,000 barrels per day respectively, a week - on - week increase of 70,000, 300,000, and 230,000 barrels per day. The US diesel imports, exports, and net exports were 170,000, 1.23 million, and 1.05 million barrels per day respectively, with a week - on - week change of -240,000, 0, and +230,000 barrels per day. The US aviation kerosene imports, exports, and net exports were 130,000, 170,000, and 40,000 barrels per day respectively, with a week - on - week change of +20,000, -100,000, and -120,000 barrels per day [2]. - Recommended companies include CNOOC Limited (600938.SH/0883.HK), PetroChina Company Limited (601857.SH/0857.HK), Sinopec Corporation (600028.SH/0386.HK), CNOOC Oilfield Services Limited (601808.SH), Offshore Oil Engineering Co., Ltd. (600583.SH), and CNOOC Energy Technology & Services Limited (600968.SH). Companies to be concerned about include Sinopec Oilfield Service Corporation (600871.SH/1033.HK), China Petroleum Engineering & Construction Corporation (600339.SH), and Sinopec Mechanical Engineering Co., Ltd. (000852.SZ) [3]. 3. Summary by Directory 2. This Week's Petroleum and Petrochemical Sector Market Review 2.1 Petroleum and Petrochemical Sector Performance - The report presents the price changes of various industry sectors, the price changes of sub - industries in the petroleum and petrochemical sector, and the trends of sub - industries in the petroleum and petrochemical sector and the CSI 300 Index [11][14][18] 2.2 Sector Listed Company Performance - The report shows the price, market capitalization, and price changes in different time periods (last week, last month, last three months, last year, and since the beginning of 2026) of upstream sector companies such as CNOOC Limited, PetroChina Company Limited, and Sinopec Corporation. It also provides the valuation table of listed companies, including stock price, market capitalization, net profit attributable to the parent company, PE, and PB [22][23] 3. Crude Oil Sector Data Tracking 3.1 Crude Oil Price - The report analyzes the prices and price spreads of Brent, WTI, Russian Urals, Russian ESPO crude oils, as well as the relationship between the US dollar index, LME copper price, and WTI crude oil price [29][30][38] 3.2 Crude Oil Inventory - It shows the relationship between US commercial crude oil inventory and oil price from 2010 to March 2026, the weekly destocking speed of US commercial crude oil and the change rate of Brent oil, and the inventory data of US total crude oil, commercial crude oil, strategic crude oil, and Cushing crude oil [40][43][50] 3.3 Crude Oil Supply - The report presents the US crude oil production, the number of US crude oil rigs, and the number of fracturing fleets and their relationship with oil prices [59][61][62] 3.4 Crude Oil Demand - It includes the US refinery crude oil processing volume, refinery operating rate, Shandong refinery seasonal operating rate, and the operating rate of China's major refineries [66][68][70] 3.5 Crude Oil Import and Export - The report shows the US crude oil imports, exports, net imports, and the imports, exports, and net imports of crude oil and petroleum products [72][74] 4. Refined Oil Sector Data Tracking 4.1 Refined Oil Price - When the international crude oil price is higher than $80 per barrel, the increase in domestic gasoline and diesel prices slows down, and enterprises bear the profit reduction caused by cost changes. When the international crude oil price is at $80 per barrel, the price spreads between domestic gasoline, diesel, and crude oil reach phased highs. The report also presents the relationship between international crude oil prices and domestic and international gasoline, diesel, and jet fuel prices and price spreads [79][82][101] 4.2 Refined Oil Inventory - It shows the inventory data of US gasoline, diesel, aviation kerosene, and Singapore gasoline and diesel [115][120][126] 4.3 Refined Oil Supply - The report presents the US gasoline, diesel, and aviation kerosene production [129][131] 4.4 Refined Oil Demand - It includes the US gasoline, diesel, and aviation kerosene consumption and the number of US airport passenger security checks [135][137][141] 4.5 Refined Oil Import and Export - The report shows the US gasoline, diesel, and aviation kerosene import, export, and net export data [146][151][152] 5. Oilfield Services Sector Data Tracking - The report presents the average daily fees of self - elevating drilling platforms and semi - submersible drilling platforms in the industry [160][164]

Investment Rating - The report maintains an "Overweight" rating for the petrochemical sector [5] Core Viewpoints - The ongoing US-Iran conflict is expected to significantly impact global oil prices, with Brent and WTI crude oil prices rising by 53% and 59% respectively since the beginning of the year, reaching $93.32 and $91.27 per barrel [9][10] - The geopolitical tensions are likely to reshape the supply-demand dynamics in the petrochemical sector, with a focus on three main investment themes: continued optimism for the oil and gas sector, the restructuring of chemical supply-demand due to geopolitical conflicts, and the potential of coal chemical alternatives [10][11] Summary by Sections Oil and Gas Sector - The geopolitical conflict is anticipated to alleviate concerns regarding oil supply-demand, leading to sustained high oil prices. The "Big Three" oil companies in China are expected to maintain high capital expenditures and enhance their market presence in natural gas and refining sectors, which will support long-term growth [12][11] - The oil service sector is projected to benefit from increased upstream capital expenditures, with major oil service companies showing improved operational quality as overseas business begins to contribute to earnings [12][11] Chemical Supply-Demand Dynamics - The ongoing conflict is expected to tighten the supply of chemical products from Iran and other Middle Eastern countries, leading to increased prices for chemicals such as methanol, urea, and potassium fertilizers. European chemical production may also face challenges due to high energy costs, potentially leading to reduced production capacity [14][18] - The report highlights the importance of monitoring chemical products with significant production capacity in the Middle East and Europe, as their supply constraints could lead to price increases [14][18] Coal Chemical Sector - The coal chemical sector is gaining investment value due to its cost advantages in a high oil price environment. The report suggests that coal chemicals can provide a stable cost base while benefiting from rising product prices, thus enhancing profitability [19][4] - The report emphasizes the clear upward momentum for the coal chemical sector, making it a focal point for investment [19]

Core Viewpoint - The article discusses the significant decline in the oil and gas sector, with major companies experiencing substantial drops in stock prices due to a sharp decrease in international oil prices during the Asia-Pacific trading session [3]. Market Overview - The A-share market opened lower, with the Shanghai Composite Index down by 0.55%, the Shenzhen Component Index down by 0.52%, the ChiNext Index down by 0.60%, and the STAR Market Index down by 0.56% [4][5]. - The oil and gas, shipping, and non-ferrous metal sectors led the declines, while sectors such as high-speed copper connections, superhard materials, gold, memory storage, circuit boards, and CPO concept stocks also weakened [5]. Hong Kong Market - The Hong Kong stock market opened with a slight increase, with the Hang Seng Index up by 0.15% and the Hang Seng Tech Index up by 0.47%. Notable gainers included JD Logistics, which rose over 6%, and JD Health and Trip.com, which both increased by over 3% [6][7].

Market Overview - On March 5, the A-share market experienced a high and then a pullback, with the ChiNext Index rising over 3% at one point. By the close, the Shanghai Composite Index increased by 0.64%, the Shenzhen Component Index rose by 1.23%, and the ChiNext Index gained 1.66%. The total trading volume in the Shanghai and Shenzhen markets reached 2.4 trillion yuan, an increase of 246 billion yuan compared to the previous trading day, with nearly 4,100 stocks rising across the market [1]. Sector Performance - The MicroLED concept saw a collective surge, with stocks such as Longteng Optoelectronics, Huacan Optoelectronics, Jucan Optoelectronics, and Jufei Optoelectronics hitting the daily limit of 20%. Other stocks like Guoxing Optoelectronics and Sanan Optoelectronics also reached their daily limit [4]. - The power grid equipment sector continued its strong performance, with China XD Electric hitting the daily limit and achieving a historical high. Other stocks like Hancable, Jicheng Electronics, and Shun Sodium also saw consecutive gains [4]. - The computing power leasing concept experienced rapid growth, with Meili Cloud and Tongniu Information both hitting the daily limit. The CPO concept remained strong, with Kaige Precision Machinery rising over 14% and setting a new historical high [4]. Declines - The seed industry sector faced significant adjustments, with stocks such as Qiule Seed Industry, Kangnong Seed Industry, and Shennong Seed Industry dropping over 10% [5]. - In the oil and gas sector, stocks experienced a pullback in the afternoon, with Shandong Water Development Gas hitting the daily limit down, and other companies like Beiken Energy, Blue Flame Holdings, Tongyuan Petroleum, China Oil Engineering, and CNOOC Development showing notable declines [6]. Oil and Gas Market - In the Hong Kong stock market, oil and gas equipment stocks fell sharply towards the end of the trading day, with Shandong Molong dropping over 14%, Sinopec Oilfield Services down over 10%, and Anton Oilfield Services down over 3% [8]. - International crude oil and natural gas prices experienced a sudden drop in the afternoon, with the Shanghai International Energy Exchange crude oil futures opening limit down, falling over 8%. Both WTI and Brent crude oil prices dropped by more than $1 [8].

Market Overview - On March 5, A-shares saw all three major indices rise, with the Shanghai Composite Index increasing by 0.64% to 4108.57, the Shenzhen Component Index rising by 1.23% to 14088.84, and the ChiNext Index up by 1.66% to 3216.94 [1][2]. Sector Performance - The optical electronics, power grid equipment, education, and MicroLED sectors led the gains, while the oil, gas, and precious metals sectors experienced declines [2]. - MicroLED concept stocks saw a surge, with several stocks hitting the daily limit, including Jucan Optoelectronics (+20.04%), Huacan Microelectronics (+20.02%), and Aibisen (+20.00%) [3][4]. Stock Movements - The oil sector faced significant losses, with stocks like Beiken Energy (-9.66%), Keli Co. (-9.22%), and Blue Flame Holdings (-9.08%) dropping over 9% [6]. - The total trading volume in the Shanghai and Shenzhen markets reached 2.39 trillion yuan, an increase of 242 billion yuan from the previous trading day, with over 4000 stocks rising [6]. Capital Flow - Major capital inflows were observed in the power equipment, electronics, and machinery sectors, while outflows were noted in non-ferrous metals, oil and petrochemicals, and agriculture [9]. - Specific stocks such as Xinyi Sheng and Shanghai Electric saw net inflows of 4.496 billion yuan and 2.45 billion yuan, respectively [10]. Institutional Insights - CITIC Securities highlighted that the US-Iran situation has become a new source of volatility, suggesting short-term speculation on oil and gold [12]. - Everbright Securities emphasized the importance of resource allocation opportunities in the short term [13]. - Tianfeng Securities noted the ongoing advancement in the AI sector and the potential for valuation recovery in gaming and media leading companies [14].