Shandong Xinchao Energy Corporation (600777.SH) announces a victory notice reclaiming its value at a proper time.

On the evening of January 2nd, Shandong Xinchao Energy Corporation (600777.SH) announced the latest progress of the lawsuit, showing that the final judgment by Beijing Third Intermediate People's Court revoked the resolutions made at the temporary shareholders' meeting held by some shareholders on July 8th, 2021. As a result, the controversy regarding the "dual-board" of Shandong Xinchao Energy Corporation, which has been of concern to the market, has been completely resolved. On February 27th, 2023, Shandong Xinchao Energy Corporation held its second temporary shareholders' meeting and employee representative assembly of 2023, smoothly completing the election of the board of directors and the board of supervisors. After the new management team took office, they continued to focus on their core business, worked diligently, and devoted themselves to returning value to investors through stable cash flow performances by CKH HOLDINGS. Liu Bin, Chairman and CEO of Shandong Xinchao Energy Corporation, stated that over the past five years, the company has regained shareholder rights and restored the management and operation. In the future, Shandong Xinchao Energy Corporation will maintain strategic determination, fully exploit the profit potential of existing oil and gas assets, and welcome the return of market value through standardized corporate governance. Looking back at the full year of 2023, the company achieved steady growth in performance and significant achievements in the return of enterprise value, among other aspects. Data from the third quarter report in 2023 showed that in the first three quarters, Shandong Xinchao Energy Corporation achieved operating income and net profit attributable to shareholders of 6.483 billion yuan and 1.874 billion yuan, respectively. In terms of quarterly performance, Shandong Xinchao Energy Corporation achieved operating income of 2.495 billion yuan in the third quarter, an increase of 25.57% from the previous quarter, and achieved a net profit attributable to shareholders of 723 million yuan, an increase of 40.12% from the previous quarter. Despite a more than 20% year-on-year decline in the average WTI crude oil price in the first three quarters of 2023, Shandong Xinchao Energy Corporation still delivered a decent performance. With good operating performance and the gradual resolution of historical issues, the market image of Shandong Xinchao Energy Corporation has gradually been reshaped and its market value has been recognized. On March 13th, 2023, Shandong Xinchao Energy Corporation was once again included in the list of stocks eligible for Shanghai-Hong Kong Stock Connect, and the company has received increasing attention from the capital market. The third quarter report showed that institutions such as Hengzheng Global Fund have successively bought and entered the top ten shareholders list this year. On August 22nd, 2023, the "Top 500 List of Chinese Listed Companies in 2023" compiled by Huadong Economic Research Institute was released, and Shandong Xinchao Energy Corporation ranked 216th. On September 7th, 2023, Hurun Research Institute released the "2023 Hurun China Energy Top 100", and Shandong Xinchao Energy Corporation ranked 85th. Among the companies on the list, Shandong Xinchao Energy Corporation is the only privately-owned energy company whose main business is the exploration, exploitation, and sales of oil and natural gas. On September 13th, 2023, the "2023 PetroChina and Chemical Enterprise Top 500 Rankings" were released, and Shandong Xinchao Energy Corporation ranked 154th. On November 23rd, 2023, the "2023 China Listed Companies Debt Index" was published by the Institute of Public Policy at Zhejiang University and the Institute of Public Policy in Zhejiang Province. Among the top 100 companies in the national debt index, Shandong Xinchao Energy Corporation (600777) is the only listed oil and petrochemical company, with a debt index of 8.39, ranking 87th. On December 17th, 2023, the "2023 China Listed Companies Top 100 Forum" was held, and Shandong Xinchao Energy Corporation was awarded the Top 100 Enterprise Award. On December 29th, 2023, the 17th Crystal Ball Awards list was released by "Securities Market Weekly", the most authoritative Chinese securities magazine and ranked as one of "The World's Top Ten Financial Media" by the American Journal Association. Shandong Xinchao Energy Corporation won the "Best Listed Company in Corporate Management" and "Best ESG Listed Company" awards, highlighting the outstanding achievements of Shandong Xinchao Energy Corporation in corporate operation and the important results achieved in ESG. In the secondary market, Shandong Xinchao Energy Corporation's accumulated growth rate for the whole year of 2023 exceeded 40%, outperforming the Shanghai Composite Index. Whether from the perspective of operating data or stock price recovery, Shandong Xinchao Energy Corporation has embarked on the path of value return.