CN Stock MarketDetailed Quotes

Jiangsu Toland Alloy (300855)

Watchlist
  • 39.40
  • -0.94-2.33%
Market Closed Apr 24 15:00 CST
15.58BMarket Cap74.48P/E (TTM)

Earnings

Revenue Breakdown

Financial Indicators

Income Statement

Balance Sheet

Cash Flow

Jiangsu Toland Alloy (300855) Balance Sheet

All
YOY yoy
Hide blank lines yoy
(Q1)Mar 31, 2026
(FY)Dec 31, 2025
(Q9)Sep 30, 2025
(Q6)Jun 30, 2025
(Q1)Mar 31, 2025
(FY)Dec 31, 2024
(Q9)Sep 30, 2024
(Q6)Jun 30, 2024
(Q1)Mar 31, 2024
(FY)Dec 31, 2023
Assets
Current assets
Money funds
-45.73%171.51M
-45.65%170.11M
16.52%337.01M
7.06%365.7M
25.72%316M
43.42%312.96M
18.34%289.22M
45.15%341.59M
-17.15%251.36M
-47.07%218.22M
Transactional financial assets
----
----
0.00%30M
--30M
--30M
----
--30M
----
----
----
Notes receivable and accounts receivable
9.74%452.52M
7.26%384.26M
26.48%388.46M
41.30%402.38M
-0.27%412.35M
22.69%358.24M
-6.53%307.14M
-0.88%284.76M
52.22%413.46M
91.64%291.99M
-Notes receivable
-34.45%114.19M
-19.73%164.75M
889.62%115.61M
113.11%86.18M
-17.54%174.21M
-13.45%205.24M
-91.74%11.68M
-60.82%40.44M
189.21%211.27M
790.71%237.12M
-Accounts receivable
42.07%338.32M
43.47%219.51M
-7.65%272.85M
29.42%316.2M
17.78%238.14M
178.85%153M
57.85%295.46M
32.72%244.33M
1.83%202.19M
-56.36%54.87M
Other receivables (including interest and dividends)
-27.06%1.69M
75.79%4.7M
2,243.79%1.8M
61.46%2.65M
31.33%2.32M
369.53%2.67M
-60.70%76.59K
256.25%1.64M
712.56%1.76M
3.11%569.39K
-Other receivable
----
75.79%4.7M
----
61.46%2.65M
----
369.53%2.67M
----
256.25%1.64M
----
3.11%569.39K
Advance payment
422.36%39.08M
769.41%17.45M
564.46%43.76M
83.39%17.91M
-32.25%7.48M
57.00%2.01M
-50.45%6.59M
-6.89%9.76M
198.43%11.04M
-21.74%1.28M
Inventories
184.22%1.42B
105.40%1.11B
51.14%749.53M
13.30%562.74M
12.15%498.27M
17.06%541.26M
4.19%495.91M
3.83%496.69M
-3.83%444.29M
17.07%462.37M
Receivable financing
68.02%47.66M
-65.31%10.39M
-85.30%36.41M
-56.96%53.04M
-34.40%28.37M
-74.73%29.95M
119.44%247.69M
-5.38%123.23M
-45.53%43.24M
47.11%118.53M
Other current assets
1,696.93%51.85M
1,317.83%53.45M
-26.58%18.02M
-79.69%4.56M
-85.24%2.89M
-81.47%3.77M
121.17%24.55M
239.75%22.44M
40.28%19.56M
8.33%20.35M
Total current assets
68.03%2.18B
40.07%1.75B
14.54%1.6B
12.41%1.44B
9.53%1.3B
12.36%1.25B
18.10%1.4B
0.77%1.28B
-5.61%1.18B
-5.77%1.11B
Non Current assets
Other equity investment
13.73%69.6M
13.73%69.6M
13.73%69.6M
13.73%69.6M
0.00%61.2M
0.00%61.2M
0.00%61.2M
34.21%61.2M
34.21%61.2M
34.21%61.2M
Other non-current financial assets
-24.95%19.91M
-24.95%19.91M
-40.58%26.53M
-40.58%26.53M
-43.15%26.53M
-43.15%26.53M
11.62%44.65M
11.62%44.65M
16.65%46.66M
16.65%46.66M
Fixed assets
----
15.55%894.62M
----
20.10%853.97M
----
17.83%774.23M
----
53.65%711.07M
----
71.06%657.1M
Constru in process
----
-1.60%119.14M
----
-73.43%41.34M
----
-28.03%121.08M
----
81.44%155.6M
----
105.14%168.23M
Intangible assets
24.69%86.85M
12.76%79.16M
-3.01%68.58M
-2.95%69.12M
-2.94%69.65M
-2.90%70.2M
32.77%70.7M
33.74%71.22M
36.66%71.76M
36.74%72.3M
Long deferred expense
-81.27%178.36K
-67.55%371.81K
-57.79%565.27K
-50.49%758.73K
-44.83%952.19K
-37.19%1.15M
--1.34M
--1.53M
--1.73M
--1.82M
Deferred tax assets
89.12%33.51M
134.65%41.91M
183.18%40.08M
165.61%32.29M
40.24%17.72M
42.59%17.86M
23.17%14.15M
12.81%12.16M
-3.48%12.63M
3.04%12.53M
Usufruct assets
--25M
--26.77M
--16.5M
--15.68M
----
----
----
----
----
----
Other non current assets
-0.56%16.95M
-45.00%6.62M
40.70%32.61M
-24.63%23.18M
-64.62%17.04M
-78.45%12.03M
-78.44%23.18M
-66.73%30.75M
-48.69%48.17M
-34.60%55.82M
Total non current assets
16.36%1.26B
16.03%1.26B
14.65%1.25B
4.07%1.13B
-0.11%1.09B
0.80%1.08B
23.07%1.09B
37.27%1.09B
44.34%1.09B
52.60%1.08B
Total assets
44.49%3.44B
28.91%3.01B
14.59%2.86B
8.58%2.57B
4.92%2.38B
6.68%2.34B
20.23%2.5B
14.80%2.37B
13.12%2.27B
16.04%2.19B
Liabilities
Current liabilities
Short term loan
--19.27M
----
----
----
----
----
----
----
----
----
Notes payable and accounts payable
351.79%826.31M
144.11%473.79M
92.23%508.05M
5.64%235.98M
2.19%182.9M
-5.21%194.09M
68.45%264.3M
38.54%223.39M
-6.97%178.98M
34.12%204.75M
-Notes payable
102.69%73.1M
-41.26%37.6M
-64.59%44.24M
10.23%67.12M
-18.36%36.07M
-22.12%64.02M
41.34%124.91M
-43.33%60.89M
-66.63%44.17M
-20.19%82.21M
-Accounts payable
412.98%753.21M
235.36%436.19M
232.77%463.81M
3.91%168.86M
8.92%146.83M
6.14%130.07M
103.40%139.38M
202.03%162.5M
124.62%134.81M
146.79%122.55M
Contract liabilities
62.37%14.57M
370.37%46.66M
-17.88%6.17M
-34.66%9.2M
-23.31%8.97M
16.21%9.92M
-36.09%7.52M
-34.91%14.07M
-37.40%11.7M
-88.07%8.54M
Salaries payable
0.89%8.53M
-3.08%11.55M
0.40%11.08M
-4.45%9.59M
7.79%8.45M
16.65%11.92M
33.62%11.03M
37.10%10.04M
20.55%7.84M
18.85%10.22M
Taxs payable
-25.09%13.77M
-45.47%5.75M
-55.57%12.88M
-33.78%14.01M
-32.64%18.38M
-11.62%10.54M
81.85%28.99M
25.20%21.16M
65.47%27.29M
172.26%11.93M
Other payable (including interest and dividends)
532.81%8.27M
471.01%9.7M
625.19%6.1M
736.41%2.08M
-15.83%1.31M
109.57%1.7M
24.83%840.5K
-86.70%249.08K
-16.65%1.55M
-19.31%810.31K
-Interest payable
----
----
--149.92K
----
----
----
----
----
----
----
-Other payable
----
471.01%9.7M
----
736.41%2.08M
----
109.57%1.7M
----
-86.70%249.08K
----
-19.31%810.31K
Non current liabilities due within one year
429.60%31.78M
478.76%34.73M
-65.22%20M
-22.27%21.42M
--6M
7,199.76%6M
--57.5M
1,973.64%27.55M
----
-93.81%82.19K
Other current liabilities
62.37%2.18M
471.34%5.57M
-17.88%922.38K
-64.39%511K
-11.85%1.34M
11.54%974.06K
-26.54%1.12M
-48.93%1.44M
-45.53%1.52M
-90.29%873.32K
Total current liabilities
306.72%924.67M
149.95%587.74M
52.22%565.2M
-1.71%292.79M
-0.67%227.35M
-0.87%235.14M
90.35%371.3M
0.02%297.89M
-32.17%228.89M
-32.74%237.2M
Current liabilities
Long term loan
167.63%352.03M
200.55%352.03M
143.48%267.81M
94.11%244.81M
64.42%131.54M
46.42%117.13M
37.49%109.99M
152.23%126.12M
60.00%80M
--80M
Deferred tax liabilities
124.52%10.67M
126.64%10.77M
63.24%8.57M
45.42%8.37M
-25.28%4.75M
-25.28%4.75M
-4.74%5.25M
-10.50%5.75M
-5.43%6.36M
-5.32%6.36M
Long term deferred income
-13.65%27.8M
-13.21%28.79M
-10.14%30.24M
-9.85%31.22M
-9.61%32.2M
-10.51%33.18M
-7.98%33.65M
-3.37%34.63M
-3.19%35.62M
-1.65%37.07M
Lease liabilities
--25.24M
--23.95M
--16.46M
--14.3M
----
----
----
----
----
----
Total non current liabilities
146.75%415.74M
167.99%415.55M
116.99%323.09M
79.39%298.68M
38.12%168.49M
25.62%155.06M
21.97%148.89M
79.45%166.5M
29.25%121.98M
170.72%123.43M
Total liabilities
238.63%1.34B
157.12%1B
70.76%888.29M
27.37%591.47M
12.82%395.83M
8.20%390.2M
64.02%520.2M
18.89%464.39M
-18.75%350.87M
-9.45%360.63M
Shareholders equity
Paid-in capital
0.00%395.53M
0.00%395.53M
0.00%395.53M
0.06%395.53M
0.06%395.53M
0.06%395.53M
0.06%395.53M
0.06%395.31M
30.89%395.31M
30.89%395.31M
Capital reserve funds
0.69%492.93M
0.69%492.93M
-0.09%489.53M
0.62%489.53M
0.72%489.53M
0.83%489.53M
1.02%489.99M
1.19%486.52M
-10.51%486.01M
-9.94%485.5M
Surplus reserve funds
14.62%160.73M
14.62%160.73M
24.60%140.23M
24.60%140.23M
24.60%140.23M
24.60%140.23M
42.50%112.54M
42.50%112.54M
42.50%112.54M
42.50%112.54M
Retained profit
9.39%1.05B
3.92%950.58M
-3.48%939.16M
4.64%948.32M
3.47%956.37M
9.74%914.68M
22.02%973.03M
26.68%906.24M
42.06%924.32M
46.97%833.51M
Specific reserves
37.66%8.19M
43.96%7.15M
65.13%6.75M
92.11%6.36M
125.06%5.95M
238.60%4.96M
167.10%4.09M
49.79%3.31M
57.66%2.64M
56.80%1.47M
Shareholders equity without minority interests
5.83%2.1B
3.19%2.01B
-0.20%1.97B
3.99%1.98B
3.48%1.99B
6.38%1.94B
12.33%1.98B
13.84%1.9B
21.85%1.92B
22.86%1.83B
Total shareholder equity
5.83%2.1B
3.19%2.01B
-0.20%1.97B
3.99%1.98B
3.48%1.99B
6.38%1.94B
12.33%1.98B
13.84%1.9B
21.85%1.92B
22.86%1.83B
Total liabilityies and equity
44.49%3.44B
28.91%3.01B
14.59%2.86B
8.58%2.57B
4.92%2.38B
6.68%2.34B
20.23%2.5B
14.80%2.37B
13.12%2.27B
16.04%2.19B
Currency Unit
CNY
CNY
CNY
CNY
CNY
CNY
CNY
CNY
CNY
CNY
Accounting Standards
CAS (2007)
CAS (2007)
CAS (2007)
CAS (2007)
CAS (2007)
CAS (2007)
CAS (2007)
CAS (2007)
CAS (2007)
CAS (2007)
Audit Opinions
--
Unqualified opinion
--
--
--
Unqualified opinion
--
--
--
Unqualified opinion
Auditor
--
Suya Jincheng Certified Public Accountants (Special General Partnership)
--
--
--
Suya Jincheng Certified Public Accountants (Special General Partnership)
--
--
--
Suya Jincheng Certified Public Accountants (Special General Partnership)
(Q1)Mar 31, 2026(FY)Dec 31, 2025(Q9)Sep 30, 2025(Q6)Jun 30, 2025(Q1)Mar 31, 2025(FY)Dec 31, 2024(Q9)Sep 30, 2024(Q6)Jun 30, 2024(Q1)Mar 31, 2024(FY)Dec 31, 2023
Assets
Current assets
Money funds -45.73%171.51M-45.65%170.11M16.52%337.01M7.06%365.7M25.72%316M43.42%312.96M18.34%289.22M45.15%341.59M-17.15%251.36M-47.07%218.22M
Transactional financial assets --------0.00%30M--30M--30M------30M------------
Notes receivable and accounts receivable 9.74%452.52M7.26%384.26M26.48%388.46M41.30%402.38M-0.27%412.35M22.69%358.24M-6.53%307.14M-0.88%284.76M52.22%413.46M91.64%291.99M
-Notes receivable -34.45%114.19M-19.73%164.75M889.62%115.61M113.11%86.18M-17.54%174.21M-13.45%205.24M-91.74%11.68M-60.82%40.44M189.21%211.27M790.71%237.12M
-Accounts receivable 42.07%338.32M43.47%219.51M-7.65%272.85M29.42%316.2M17.78%238.14M178.85%153M57.85%295.46M32.72%244.33M1.83%202.19M-56.36%54.87M
Other receivables (including interest and dividends) -27.06%1.69M75.79%4.7M2,243.79%1.8M61.46%2.65M31.33%2.32M369.53%2.67M-60.70%76.59K256.25%1.64M712.56%1.76M3.11%569.39K
-Other receivable ----75.79%4.7M----61.46%2.65M----369.53%2.67M----256.25%1.64M----3.11%569.39K
Advance payment 422.36%39.08M769.41%17.45M564.46%43.76M83.39%17.91M-32.25%7.48M57.00%2.01M-50.45%6.59M-6.89%9.76M198.43%11.04M-21.74%1.28M
Inventories 184.22%1.42B105.40%1.11B51.14%749.53M13.30%562.74M12.15%498.27M17.06%541.26M4.19%495.91M3.83%496.69M-3.83%444.29M17.07%462.37M
Receivable financing 68.02%47.66M-65.31%10.39M-85.30%36.41M-56.96%53.04M-34.40%28.37M-74.73%29.95M119.44%247.69M-5.38%123.23M-45.53%43.24M47.11%118.53M
Other current assets 1,696.93%51.85M1,317.83%53.45M-26.58%18.02M-79.69%4.56M-85.24%2.89M-81.47%3.77M121.17%24.55M239.75%22.44M40.28%19.56M8.33%20.35M
Total current assets 68.03%2.18B40.07%1.75B14.54%1.6B12.41%1.44B9.53%1.3B12.36%1.25B18.10%1.4B0.77%1.28B-5.61%1.18B-5.77%1.11B
Non Current assets
Other equity investment 13.73%69.6M13.73%69.6M13.73%69.6M13.73%69.6M0.00%61.2M0.00%61.2M0.00%61.2M34.21%61.2M34.21%61.2M34.21%61.2M
Other non-current financial assets -24.95%19.91M-24.95%19.91M-40.58%26.53M-40.58%26.53M-43.15%26.53M-43.15%26.53M11.62%44.65M11.62%44.65M16.65%46.66M16.65%46.66M
Fixed assets ----15.55%894.62M----20.10%853.97M----17.83%774.23M----53.65%711.07M----71.06%657.1M
Constru in process -----1.60%119.14M-----73.43%41.34M-----28.03%121.08M----81.44%155.6M----105.14%168.23M
Intangible assets 24.69%86.85M12.76%79.16M-3.01%68.58M-2.95%69.12M-2.94%69.65M-2.90%70.2M32.77%70.7M33.74%71.22M36.66%71.76M36.74%72.3M
Long deferred expense -81.27%178.36K-67.55%371.81K-57.79%565.27K-50.49%758.73K-44.83%952.19K-37.19%1.15M--1.34M--1.53M--1.73M--1.82M
Deferred tax assets 89.12%33.51M134.65%41.91M183.18%40.08M165.61%32.29M40.24%17.72M42.59%17.86M23.17%14.15M12.81%12.16M-3.48%12.63M3.04%12.53M
Usufruct assets --25M--26.77M--16.5M--15.68M------------------------
Other non current assets -0.56%16.95M-45.00%6.62M40.70%32.61M-24.63%23.18M-64.62%17.04M-78.45%12.03M-78.44%23.18M-66.73%30.75M-48.69%48.17M-34.60%55.82M
Total non current assets 16.36%1.26B16.03%1.26B14.65%1.25B4.07%1.13B-0.11%1.09B0.80%1.08B23.07%1.09B37.27%1.09B44.34%1.09B52.60%1.08B
Total assets 44.49%3.44B28.91%3.01B14.59%2.86B8.58%2.57B4.92%2.38B6.68%2.34B20.23%2.5B14.80%2.37B13.12%2.27B16.04%2.19B
Liabilities
Current liabilities
Short term loan --19.27M------------------------------------
Notes payable and accounts payable 351.79%826.31M144.11%473.79M92.23%508.05M5.64%235.98M2.19%182.9M-5.21%194.09M68.45%264.3M38.54%223.39M-6.97%178.98M34.12%204.75M
-Notes payable 102.69%73.1M-41.26%37.6M-64.59%44.24M10.23%67.12M-18.36%36.07M-22.12%64.02M41.34%124.91M-43.33%60.89M-66.63%44.17M-20.19%82.21M
-Accounts payable 412.98%753.21M235.36%436.19M232.77%463.81M3.91%168.86M8.92%146.83M6.14%130.07M103.40%139.38M202.03%162.5M124.62%134.81M146.79%122.55M
Contract liabilities 62.37%14.57M370.37%46.66M-17.88%6.17M-34.66%9.2M-23.31%8.97M16.21%9.92M-36.09%7.52M-34.91%14.07M-37.40%11.7M-88.07%8.54M
Salaries payable 0.89%8.53M-3.08%11.55M0.40%11.08M-4.45%9.59M7.79%8.45M16.65%11.92M33.62%11.03M37.10%10.04M20.55%7.84M18.85%10.22M
Taxs payable -25.09%13.77M-45.47%5.75M-55.57%12.88M-33.78%14.01M-32.64%18.38M-11.62%10.54M81.85%28.99M25.20%21.16M65.47%27.29M172.26%11.93M
Other payable (including interest and dividends) 532.81%8.27M471.01%9.7M625.19%6.1M736.41%2.08M-15.83%1.31M109.57%1.7M24.83%840.5K-86.70%249.08K-16.65%1.55M-19.31%810.31K
-Interest payable ----------149.92K----------------------------
-Other payable ----471.01%9.7M----736.41%2.08M----109.57%1.7M-----86.70%249.08K-----19.31%810.31K
Non current liabilities due within one year 429.60%31.78M478.76%34.73M-65.22%20M-22.27%21.42M--6M7,199.76%6M--57.5M1,973.64%27.55M-----93.81%82.19K
Other current liabilities 62.37%2.18M471.34%5.57M-17.88%922.38K-64.39%511K-11.85%1.34M11.54%974.06K-26.54%1.12M-48.93%1.44M-45.53%1.52M-90.29%873.32K
Total current liabilities 306.72%924.67M149.95%587.74M52.22%565.2M-1.71%292.79M-0.67%227.35M-0.87%235.14M90.35%371.3M0.02%297.89M-32.17%228.89M-32.74%237.2M
Current liabilities
Long term loan 167.63%352.03M200.55%352.03M143.48%267.81M94.11%244.81M64.42%131.54M46.42%117.13M37.49%109.99M152.23%126.12M60.00%80M--80M
Deferred tax liabilities 124.52%10.67M126.64%10.77M63.24%8.57M45.42%8.37M-25.28%4.75M-25.28%4.75M-4.74%5.25M-10.50%5.75M-5.43%6.36M-5.32%6.36M
Long term deferred income -13.65%27.8M-13.21%28.79M-10.14%30.24M-9.85%31.22M-9.61%32.2M-10.51%33.18M-7.98%33.65M-3.37%34.63M-3.19%35.62M-1.65%37.07M
Lease liabilities --25.24M--23.95M--16.46M--14.3M------------------------
Total non current liabilities 146.75%415.74M167.99%415.55M116.99%323.09M79.39%298.68M38.12%168.49M25.62%155.06M21.97%148.89M79.45%166.5M29.25%121.98M170.72%123.43M
Total liabilities 238.63%1.34B157.12%1B70.76%888.29M27.37%591.47M12.82%395.83M8.20%390.2M64.02%520.2M18.89%464.39M-18.75%350.87M-9.45%360.63M
Shareholders equity
Paid-in capital 0.00%395.53M0.00%395.53M0.00%395.53M0.06%395.53M0.06%395.53M0.06%395.53M0.06%395.53M0.06%395.31M30.89%395.31M30.89%395.31M
Capital reserve funds 0.69%492.93M0.69%492.93M-0.09%489.53M0.62%489.53M0.72%489.53M0.83%489.53M1.02%489.99M1.19%486.52M-10.51%486.01M-9.94%485.5M
Surplus reserve funds 14.62%160.73M14.62%160.73M24.60%140.23M24.60%140.23M24.60%140.23M24.60%140.23M42.50%112.54M42.50%112.54M42.50%112.54M42.50%112.54M
Retained profit 9.39%1.05B3.92%950.58M-3.48%939.16M4.64%948.32M3.47%956.37M9.74%914.68M22.02%973.03M26.68%906.24M42.06%924.32M46.97%833.51M
Specific reserves 37.66%8.19M43.96%7.15M65.13%6.75M92.11%6.36M125.06%5.95M238.60%4.96M167.10%4.09M49.79%3.31M57.66%2.64M56.80%1.47M
Shareholders equity without minority interests 5.83%2.1B3.19%2.01B-0.20%1.97B3.99%1.98B3.48%1.99B6.38%1.94B12.33%1.98B13.84%1.9B21.85%1.92B22.86%1.83B
Total shareholder equity 5.83%2.1B3.19%2.01B-0.20%1.97B3.99%1.98B3.48%1.99B6.38%1.94B12.33%1.98B13.84%1.9B21.85%1.92B22.86%1.83B
Total liabilityies and equity 44.49%3.44B28.91%3.01B14.59%2.86B8.58%2.57B4.92%2.38B6.68%2.34B20.23%2.5B14.80%2.37B13.12%2.27B16.04%2.19B
Currency Unit CNYCNYCNYCNYCNYCNYCNYCNYCNYCNY
Accounting Standards CAS (2007)CAS (2007)CAS (2007)CAS (2007)CAS (2007)CAS (2007)CAS (2007)CAS (2007)CAS (2007)CAS (2007)
Audit Opinions --Unqualified opinion------Unqualified opinion------Unqualified opinion
Auditor --Suya Jincheng Certified Public Accountants (Special General Partnership)------Suya Jincheng Certified Public Accountants (Special General Partnership)------Suya Jincheng Certified Public Accountants (Special General Partnership)

FY: Financial Year. Refers to the 10-K file disclosed by the listed company to the SEC.

Q: Quarter. Refers to the 10-Q file disclosed by the listed company to the SEC. Q1, Q2, Q3, and Q4 are quarterly reports each with a span of 3 months; Q6 and Q9 are cumulative reports, with Q6 including 6 months and Q9 9 months.

Market Insights
Petroleum
No. Symbol 20D % Chg
Sample Name
Sample Code
 +5.69%
Sample Name
Sample Code
 +0.44%
Sample Name
Sample Code
 -2.38%
4
CHINA OILFIELD
02883
-3.34%
5
CNOOC
00883
-5.23%
View More
No. Symbol 20D % Chg
Sample Name
Sample Code
 +30.01%
Sample Name
Sample Code
 +22.47%
Sample Name
Sample Code
 +20.53%
4
Rockchip Electronics
603893
+19.38%
5
Ucloud Technology Co., Ltd
688158
+18.90%
View More
Middle East conflict spreads to the stock market! How should investors respond?
Signs of restarting the second round of US-Iran talks have emerged. According to reports, Iran's foreign minister arrived in Pakistan on Fri Show More
Long-term answers | Your account on the left shrinks, while your right hand is chased by the times — Be the person that no bombardment can ever wipe out.
Hormuz, Term Structure and USO: Navigating the Energy Storm

- No more -