HK Stock Market Move | Shandong Molong Petroleum Machinery (00568) A shares hit the limit down, while H shares fell by more than 15%. The company stated that there have been no significant changes in production and business environment.

Shandong Molong Petroleum Machinery (00568) stocks plunged, with A shares hitting the limit down and H shares dropping by 14.51% to HK$4.3, with a turnover of HK$7.03 billion. On the news front, Shandong Molong Petroleum Machinery announced four times in five days that they have not found any significant undisclosed information that may have a significant impact on the company's stock price in recent public media reports, and that there have been no major changes in the company's production and operation situation or expected major changes in internal and external operating environment. It is reported that the concept of deep-earth economy has recently become a market focus, with Shandong Molong Petroleum Machinery, a major producer of petroleum drilling and mining equipment, recording four limit up movements in five days. The Ministry of Natural Resources previously stated that during the "Twelfth Five-Year Plan" period, it will accelerate the establishment of standardized high points in emerging and future industries such as deep sea and deep earth. The Ministry of Natural Resources predicts that the global deep-earth economy will exceed $25 trillion by 2030, while the domestic deep-earth economy-related industry market scale is expected to surpass 5 trillion between 2026 and 2030, with an initial growth rate of 40% during the commercial development phase.