Shandong Molong Petroleum Machinery (HKG:0568, SHE:002490) expects to record a net profit attributable to shareholders between 47 million yuan and 60 million yuan in 2024, against a logged loss of 566.9 million yuan in 2023, a Friday Hong Kong bourse filing said.
The petroleum industry company attributed the turnaround to gains arising from certain investment disposals, along with the implementation of cost control measures and reduction in various expenses.
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