On June 26, GeLongHui reported that ZhuoRan Holdings (688121.SH) stated on an investor communication platform that the stock price in the secondary market is affected by many factors, such as macroeconomics, industry policies, market liquidity, and investor preferences. The company will strive to improve business management, continuously optimize business management, focus on core responsibilities, enhance core competitiveness and corporate value, create long-term sustainable value, and consolidate long-term investment value. The company is a large-scale petrochemical equipment integration supplier with industry characteristics of large project volume and long delivery cycle. The revenue recognition of equipment supply adopts the final verification method. Therefore, the revenue recognition of a single project has a certain degree of periodicity, and the company needs a certain period of time to transform the in-hand orders into revenue. The high asset-liability ratio is mainly due to the fact that the company is a large-scale refining and special equipment manufacturing enterprise and mainly recognizes revenue by acceptance method. Therefore, the proportion of prepaid accounts is relatively high before the recognition of revenue. Since its IPO, the company has only implemented one private placement subscribed in full by the actual controller and the joint actual controller. The private placement was completed on December 27, 2023, after the shares were registered with China Securities Depository and Clearing Corporation Shanghai Branch. In response to the current situation of market recovery, increasing orders, and diverse customer needs, the company further implemented a capacity improvement plan. In 2020, the company established ZhuoRan (Zhejiang) Integrated Technology Co., Ltd. in Daishan, and built the Daishan petrochemical circular economy industrial park to create and construct a petrochemical equipment manufacturing base and supporting high-end industrial base with certain industry foresight. Phase one of the Daishan petrochemical circular economy industrial park will soon be completed, and the company currently has no intention of introducing strategic investors.