Shandong Molong Petroleum Machinery Company Limited
SHANF
Other OTC0.94
USD
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Shandong Molong Petroleum Machinery Company Limited
SHANF
(Other OTC)
Recent
price
0.94
P/E
ratio
- -
div
yld
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ROIC.AI
Capital Structure
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in mil. unless spec.- Similar Companies
- Business
- Shandong Molong Petroleum Machinery Company Limited engages in the design, research and development, production, sales and export of petroleum machinery equipment and energy equipment products primarily for the oil and gas industry in China and internationally. The company manufactures and sells pipe products including oil casings, drill pipe bodies, tubing, line pipes, boiler pipes, fluid conveying pipes, hydraulic support pipes, gas cylinder pipes and structural pipes; three kinds of pumping units comprising sucker rods, oil pumps and oil pumping units along with petroleum machinery accessories and downhole tools such as electric submersible pumps and liquid injection pumps; precision casting and forging products including large ball valve bodies, mud pump liners and floating ball valves; and other items such as tube blanks and special equipment components, with products serving oil and natural gas extraction, shale gas, coalbed methane, coal mining machinery, boiler manufacturing, engineering machinery and wind power applications. Founded in 1986 and headquartered in Shouguang City, Shandong Province, China, the company operates through segments including Pipe Products, Three Pumping Units, Petroleum Machinery Parts, Tube Blanks, Castings and Forgings, and Others, maintaining key customers such as PetroChina, Sinopec, CNOOC and Yanchang Petroleum while exporting to markets in America, Russia, the Middle East, Southeast Asia, Central Asia, Africa and South America. In recent developments, the company completed the disposal of 70% equity in Shouguang Baolong Petroleum Equipment and 98.0769% equity in Weihai Baolong Special Petroleum Materials in early 2024, generating significant gains of approximately RMB281 million included in extraordinary profit; announced plans in October 2024 to dispose of 100% equity in subsidiary Shouguang Maolong New Materials Technology Development for RMB203 million to optimize assets and focus on core pipe and pumping operations; reported a turnaround to net profit attributable to shareholders of RMB170 million in the first half of 2024 from a prior-year loss, driven by cost reductions, export growth to 38% of revenue and non-operating gains; and continued new product developments such as line pipe enhancements, inclined well pump improvements and optimized cold-drawn pipe processes to boost efficiency and market competitiveness.