Group 1 - The core business of Shandong Molong Petroleum Machinery Co., Ltd. includes the design, research and development, manufacturing, sales services, and export trade of products required for the energy equipment industry [1] - The company has a strong research and development capability in the field of energy equipment, having undertaken over 80 national and provincial scientific research projects [1] - As of the first quarter of 2025, the company reported a revenue of 291 million yuan, a year-on-year increase of 50.51%, while net profit was 5.42 million yuan, a year-on-year decrease of 97.50% [1] Group 2 - The latest closing price of Shandong Molong is 4.19 yuan, down 4.56%, with a current price-to-book ratio of 6.72 and a total market value of 3.343 billion yuan [1] - The company is recognized as a high-tech enterprise and a leading enterprise in China's energy equipment base, and it was awarded as the only national intellectual property demonstration enterprise in Shouguang City in 2023 [1] - The average price-to-earnings ratio (PE) for the industry is 60.39, while Shandong Molong has a TTM PE of -13.10, indicating a significant deviation from industry norms [2]

为进一步加强与投资者的互动交流，山东墨龙石油机械股份有限公司（以下 简称"公司"）将参加由山东证监局、山东上市公司协会与深圳市全景网络有限 公司联合举办的"2025 年山东辖区上市公司投资者网上集体接待日活动"，现将 相关事项公告如下： 证券代码：002490 证券简称：山东墨龙 公告编号：2025-030 山东墨龙石油机械股份有限公司 关于参加2025年山东辖区上市公司投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路演 APP，参与本次互动交流。活动时间为 2025 年 5 月 15 日（周四）15:00-16:30。 届时公司高管将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、 融资计划、股权激励和可持续发展等投资者关心的问题，与投资者进行沟通与交 流，欢迎广大投资者踊跃参与！ 特此公告。 山东墨龙石油机械股份有限公司董事会 二〇二五年五月十三日 ...

Core Viewpoint - The significant share reduction by major shareholders of Shandong Molong coincided with a dramatic surge in the company's stock price, raising concerns about the company's future prospects despite recent operational changes [1][9]. Group 1: Shareholder Actions - Major shareholder, Shandong Zhimo Holdings, reduced its stake by approximately 17% over three trading days, cashing out nearly 600 million yuan [1][8]. - The share price of Shandong Molong increased over 300% in just two trading days, primarily due to the company's removal from the delisting list and inclusion in the Hong Kong Stock Connect [2][6]. - Following the share price surge, Shandong Zhimo Holdings and its concerted parties completely divested their holdings, indicating a strategic exit during a peak [7][8]. Group 2: Financial Performance - In Q1 2024, Shandong Molong reported revenue of 291 million yuan, a year-on-year increase of over 50%, but still recorded a net loss when excluding non-recurring items [2][12]. - The company has faced continuous losses in its net profit excluding non-recurring items for six consecutive years, totaling 2.061 billion yuan from 2019 to 2024 [2][10]. - Despite the ongoing financial struggles, there are signs of improvement, with a significant increase in operating cash flow and a reduction in net loss compared to previous periods [12]. Group 3: Company Background - Founded in 1987, Shandong Molong specializes in energy equipment manufacturing and is the only domestic supplier providing a full range of oil drilling equipment services [9][10]. - The company has not engaged in equity refinancing since its A-share listing, relying instead on asset sales to maintain operations [11]. - Recent internal reforms and successful bids for major contracts indicate a potential shift in the company's operational trajectory [12].

Group 1: Company Developments - Xidi Intelligent Driving submitted its prospectus for the second time to the Hong Kong Stock Exchange, aiming for a main board listing, focusing on autonomous driving products and solutions for commercial vehicles [1] - Shandong Molong announced that its shareholder, Zhimo Holdings, reduced its H-shares by 28.81 million shares, accounting for 3.61% of the total share capital, following a significant increase in H-share prices [2] - Lide Education's controlling shareholders pledged a total of 4.97 million shares to secure a loan of 350 million yuan, indicating a need for additional funding to support business development [3][4] - Insilico Medicine submitted its listing application to the Hong Kong Stock Exchange for the third time, showing a commitment to enter the capital market, with steady revenue growth and narrowing losses [5] - Zhuangshi China projected a loss of approximately 385 million to 425 million HKD for the fiscal year ending March 31, 2025, primarily due to fair value losses on investment properties [6][7] Group 2: Financial Performance - Xidi Intelligent Driving reported revenues of 31.06 million yuan, 133 million yuan, and 410 million yuan for 2022, 2023, and 2024, respectively, with losses of approximately 263 million yuan, 255 million yuan, and 581 million yuan [1] - Insilico Medicine's revenues were 30.15 million USD, 51.18 million USD, and 85.83 million USD for 2022, 2023, and 2024, with losses of 222 million USD, 212 million USD, and 17.1 million USD [5] - Zhuangshi China reported a loss of approximately 321 million HKD in the previous year, with the current projected losses indicating a worsening financial situation [6]

Core Viewpoint - The stock price of Shandong Molong (002490.SZ) experienced significant volatility following announcements of substantial share reductions by major shareholders, raising concerns about the company's future performance and market perception [2][4][5]. Shareholder Actions - On May 8, Shandong Molong announced that its shareholder, Zhimo Holdings, and its concerted parties reduced their holdings by 107 million H-shares, accounting for 13.39% of the total share capital [2][4]. - Following this, on May 9, Zhimo Holdings further reduced its holdings by 28.81 million shares, bringing the total reduction over three days to 17% of the total share capital [2][5]. - The timing of these reductions coincided with a significant increase in the stock price, which had risen over 450% in the previous four trading days [2]. Stock Price Movements - The H-shares of Shandong Molong saw a dramatic increase, with a peak price of 7.55 HKD per share on May 7, before experiencing a decline after the reduction announcements [6]. - The A-shares also followed a similar trend, with a three-day increase before a drop of 7.59% on May 9 following the announcements [6]. Company Background and Performance - Shandong Molong primarily manufactures oil drilling machinery and equipment for oil and gas extraction, which is directly influenced by the global oil and gas market conditions [8]. - Despite the industry's recovery and increased demand for oil and gas equipment, Shandong Molong has reported continuous losses, with revenues declining from 37.34 billion CNY in 2021 to an estimated 13.56 billion CNY in 2024 [8]. - The company faced regulatory scrutiny due to inaccurate earnings forecasts, leading to administrative warnings from the Shandong Securities Regulatory Bureau [9]. Financial Adjustments - The company's projected losses for 2024 were revised significantly, with a forecasted net loss of 35 million to 45 million CNY, contrasting sharply with an earlier profit estimate [9]. - The anticipated reduction in losses for 2024 is attributed to the sale of subsidiaries, which is not indicative of improved core operational performance [9].

Core Viewpoint - Shandong Molong Petroleum Machinery Co., Ltd. has experienced a significant stock price surge following its removal from risk warning status and re-inclusion in the Hong Kong Stock Connect, with H-shares peaking at a 476% increase [2][6]. Shareholder Reduction - On May 7-8, 2025, Shandong Zhimo Holdings Co., Ltd. and its concerted parties reduced their holdings in Shandong Molong by approximately 107 million H-shares, representing 13.3866% of the total share capital [3][4]. - Prior to the reduction, Zhimo Holdings and its concerted parties held about 152 million H-shares, accounting for 19.0029% of the total shares [3][4]. Impact on Company Structure - Following the reduction, Zhimo Holdings and its concerted parties now hold 44.81 million shares, which is 5.6164% of the total share capital, and this change does not affect the company's control or governance structure [4][5]. - Shandong Molong confirmed that there are no other relationships between the company and Zhimo Holdings, and the reduction will not significantly impact daily operations [2][5]. Stock Performance Context - The stock price of Shandong Molong saw a substantial increase after the company was "un-capped" and re-included in the Hong Kong Stock Connect, with A-shares hitting three consecutive daily limits and H-shares rising by 188.51% on May 6, 2025 [6]. - Following the announcement of the shareholder reduction, the stock price fell, with A-shares dropping by 7.59% and H-shares by 18.53% on May 9, 2025 [6].

证券代码：002490 证券简称：山东墨龙 公告编号：2025-029 山东墨龙石油机械股份有限公司 关于持股 5%以上股东减持公司股份的提示性公告 山东智梦控股有限公司保证向本公司提供的信息内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 山东墨龙石油机械股份有限公司（以下简称"公司"）于 2025 年 5 月 9 日 收到公司股东山东智梦控股有限公司（以下简称"智梦控股"）递交的《关于 减持股份的告知函》，智梦控股于 2025 年 5 月 9 日通过证券交易系统以集中竞 价方式累计减持公司 H 股股份 28,810,000 股，减持股份数量占公司总股本的 3.61%。本次减持完成后，智梦控股持有公司股份 16,000,000 股，占公司总股本 的 2.01%，具体情况如下： | 1、基本情况 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 信息披露义务人 | 山东智梦控股有限公司 | | | | | | | 住所 | 山东省潍坊市寿光市圣城东街与金海路交叉 ...

Core Viewpoint - The recent significant drop in the stock price of Shandong Molong is attributed to major shareholders reducing their holdings by over 13%, raising concerns among investors about the company's future performance and governance [5][12]. Shareholder Actions - Shandong Molong announced that from May 7 to May 8, major shareholders reduced their H-share holdings by a total of 106.8 million shares, representing 13.3866% of the company's total share capital [2][3]. - The breakdown of the reductions includes: - Zhimo Holdings: 20.83 million shares (2.6108%) - Panjin Investment: 30.80 million shares (3.8604%) - Honsen Logistics: 31.80 million shares (3.9857%) - Ruishen New Materials: 23.37 million shares (2.9297%) [3]. Financial Performance - Shandong Molong has experienced significant financial volatility, with continuous losses from 2021 to 2023. The revenue figures were: - 2021: 3.734 billion, net loss of 368 million - 2022: 2.766 billion, net loss of 425 million - 2023: 1.317 billion, net loss of 567 million [9][10]. - In 2024, the company reported a revenue of 1.356 billion, a year-on-year increase of 2.95%, and a reduced net loss of approximately 43.70 million, marking a 92.29% improvement in losses [10]. Market Reaction - Following the announcement of the "delisting" of risk warnings, Shandong Molong's stock saw a surge, with A-shares hitting three consecutive daily limits and a 205% increase in Hong Kong shares over three trading days [10]. - However, the recent shareholder sell-off has raised investor concerns about the sustainability of the company's performance and governance [12]. Regulatory Issues - The company has faced regulatory scrutiny, including a warning from the Shandong Securities Regulatory Bureau for inaccurate disclosures related to its 2024 performance forecast [8]. - Historical issues include past violations of securities laws by major shareholders during sensitive periods of financial loss [4][7].

Core Viewpoint - The significant share reduction by major shareholders of Shandong Molong following a dramatic stock price increase raises concerns about the company's future prospects and shareholder confidence [1][2]. Group 1: Stock Performance and Shareholder Actions - Shandong Molong's shareholders, including Zhihong Holdings, reduced their H-share holdings by 106.80 million shares, accounting for 13.39% of the total share capital, within two days [1]. - The company's H-share price surged over 300% in two days, coinciding with the lifting of risk warnings and inclusion in the Hong Kong Stock Connect program [1]. - The stock price increase appears driven more by market sentiment and short-term capital rather than substantial improvements in the company's fundamentals [1]. Group 2: Financial Performance and Market Sentiment - Since 2019, Shandong Molong has reported continuous losses in net profit attributable to shareholders after deducting non-recurring items, with a projected 97.50% year-on-year decline in Q1 2025 [2]. - The timing of the shareholders' sell-off at high stock prices may signal a lack of confidence in the company's future, especially given the ongoing performance challenges [2]. - Despite potential growth opportunities in the energy equipment sector due to rising global energy demand, the company's current financial struggles and shareholder actions pose significant challenges to its future development [2].

Core Viewpoint - Shandong Molong's stock has experienced significant volatility, with a recent surge following the removal of risk warnings and its re-inclusion in the Hong Kong Stock Connect, despite ongoing fundamental concerns regarding its financial performance and profitability [2][3][7]. Group 1: Stock Performance and Market Reaction - Shandong Molong's A-shares have hit the daily limit up for three consecutive days since May 6, with H-shares experiencing a peak increase of nearly 450% [2][3]. - The stock was removed from risk warnings on May 6, leading to a substantial rise in both A-shares and H-shares, with H-shares seeing a daily increase of approximately 188% [2][3]. - The stock's volatility has attracted a significant influx of short-term investors and speculative funds, resulting in a high turnover rate of 125% on May 6 [6]. Group 2: Financial Performance and Forecasts - For 2024, Shandong Molong is projected to have a total revenue of 1.356 billion yuan, a slight increase of 2.95%, but still reporting a net loss of approximately 43.7 million yuan [7]. - The first quarter of 2025 showed a revenue of 291 million yuan, a year-on-year increase of 50.51%, but the net profit dropped by 97.50% [7]. - The company has faced regulatory scrutiny due to inaccurate disclosures regarding its 2024 earnings forecast, which was revised from an expected profit to a confirmed loss [8][9]. Group 3: Corporate Actions and Market Speculation - The stock price surge has been partly fueled by rumors of a potential reverse merger with Shandong Luli Group, which is speculated to involve a 7.5 billion yuan deal [10][11]. - The company has been actively disposing of loss-making subsidiaries to temporarily improve its financial statements, but this does not address the underlying issues of its core business profitability [9].