SHANDONG MOLONG (00568) surged over 8% while the company's A-share stock hit the daily limit up. As of press time, the stock gained 8.35% to HK$4.41 with trading volume reaching HK$337 million.

On the news front, negotiations for an agreement to resume oil exports from Iraq's Kurdistan region encountered obstacles, alleviating some investor concerns about global supply oversupply and leading to a modest rebound in international crude oil prices. Overnight, WTI crude oil futures closed up 1.81% at $63.41 per barrel, while Brent crude oil futures closed up 1.6% at $67.63 per barrel.

According to public information, SHANDONG MOLONG operates in the energy equipment industry, covering specialized equipment manufacturing for energy extraction including petroleum, natural gas, shale gas, coal, and coalbed methane. The company belongs to the specialized equipment manufacturing and services sector for petroleum and natural gas. Therefore, the development and prosperity of the oil and natural gas extraction industries directly relate to the development status of the company's industry.