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Yantai Jereh Oilfield's Stock Fluctuates More Than 20% Following Signing of Gas Turbine Generator Service Contract; Shares Slide 8%

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Yantai Jereh Oilfield Services (SHE:002353) stock price fluctuated by 21.74% across three trading sessions from July 23 to 27 following the signing of a $1.47 billion gas turbine generator set supply contract with an unnamed cloud service company.

After verification, the oilfield equipment manufacturer did not add information already disclosed, according to a Tuesday disclosure to the Shenzhen Stock Exchange.

Following an internal investigation and verification with its controlling shareholder and actual controller, the company said it has no undisclosed material information, plans, or negotiations that may have had a significant impact on its stock price.

The company's shares dropped more than 8% recently.

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