Shandong Molong Petroleum Machinery Co., Ltd. revised preliminary earnings guidance for the year ended December 31, 2013. For the year, the company previously estimated the year-on-year change in net profit from January to December 2013 will be -80% to -30%, and the expected amount of net profit will be RMB 26.85 million to RMB 93.98 million. And currently the company revised earnings guidance to net loss attributable to shareholders of the company of RMB 120 million to RMB 180 million.

Reason for the revision of the result was that during the reporting period, due to the impacts of both the internal and external economic environments, decline in demand under the weak market and keen competitions, the selling prices of products decreased comparing with that of the corresponding period of last year and the market demand on high-end products also decreased.