On June 23, Shandong Molong fell 8.09% in regular trading, trading at 4.42 HKD/share, with turnover of approximately 90 million HKD.

On the news front, a member of Iran's negotiating delegation stated that the draft regarding Iran's oil sanctions waiver has been finalized. Following the first round of high-level US-Iran talks in Switzerland on June 22, the US Treasury issued a 60-day general license authorizing the production, delivery, and sale of Iranian crude oil, petrochemicals, and petroleum products. The lifting of sanctions is expected to significantly increase global crude supply, with JPMorgan previously forecasting oil prices could fall further to $70/barrel in coming weeks.

The stock had surged over 30% in early June due to Middle East conflict escalation but has since entered a sustained correction channel after triggering an abnormal trading alert with cumulative declines exceeding 20% over three consecutive trading days. Within the Oil and Gas Equipment and Services sector, SINOPEC SSC fell 1.61%, ANTON OILFIELD fell 1.19%, CM-ENERGY fell 7.58%, DALIPAL HLDG was flat, while JUTAL OIL SER rose 6.12%.

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