Shares in Shandong Molong, the oil drill pipes and drilling machine parts maker, plunged as much as 15.6 per cent on Friday after warning it would post a significant net loss for last year, three months after saying it expected to record a profit. Photo: Reuters

Oil industry equipment firm Shandong Molong shares plunge 14pc after surprise warning of losses

Firm faces delisting from Shenzhen Stock Exchange if it posts three consecutive annual losses. It posted a 259.6m yuan loss in 2015

Shares in Shandong Molong, the oil drill pipes and drilling machine parts maker, plunged as much as 15.6 per cent on Friday after warning it would post a significant net loss for last year, three months after saying it expected to record a profit. Photo: Reuters
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