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Shandong Molong Petroleum Machinery ( (HK:0568) ) just unveiled an announcement.
Shandong Molong Petroleum Machinery has received a RMB20 million cash government subsidy classified as income-related under Chinese accounting standards, rather than as an asset-related grant. The subsidy is equivalent to 45.77% of the company’s audited net profit attributable to shareholders for 2024 and is expected to boost total profit for the year ending 31 December 2025 by the full RMB20 million, although the figures remain unaudited pending confirmation by the company’s external accounting firm, and investors are urged to exercise caution when trading the shares.
The most recent analyst rating on (HK:0568) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Shandong Molong Petroleum Machinery stock, see the HK:0568 Stock Forecast page.
More about Shandong Molong Petroleum Machinery
Shandong Molong Petroleum Machinery Company Limited is a Sino-foreign joint stock company incorporated in the PRC and listed in Hong Kong, operating in the petroleum equipment industry. The company primarily manufactures and supplies petroleum machinery and related products used in oil and gas exploration and production, serving energy sector customers in China and potentially overseas markets.
Average Trading Volume: 41,530,551
Technical Sentiment Signal: Buy
Current Market Cap: HK$4.73B
For an in-depth examination of 0568 stock, go to TipRanks’ Overview page.