Shandong Molong Converts RMB 361 Million Debt into Land Asset in Disclosable Deal
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Shandong Molong Petroleum Machinery has converted RMB 361 million of debt into a land asset through a settlement agreement with Shouguang Huarong Agricultural Technology and Shandong Shouguang Vegetable Wholesale Market. This transaction, which is disclosable under Hong Kong Listing Rules, aims to restructure receivables and improve the company's balance sheet. The latest analyst rating for Shandong Molong (HK:0568) is a Hold with a price target of HK$3.00. The company operates in the petroleum machinery sector and has a current market cap of HK$4.78 billion.
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