Shandong Molong Petroleum Machinery (002490.SZ) creditor Lifelong Bao Long accepted for bankruptcy liquidation application.

Shandong Molong Petroleum Machinery (002490.SZ) announced that the company recently received a notice from the Shouguang People's Court of Shandong Province (Case No. (2025) Lu 0783 Po 1), informing that the company's debtor Shouguang Baolong Petroleum Equipment Co., Ltd. (hereinafter referred to as "Shouguang Baolong", "debtor") has been unable to repay its due debts and the court has accepted its bankruptcy liquidation application. As of the disclosure date of this announcement, the company's other receivables balance from Shouguang Baolong is approximately 292 million yuan, which represents funds transferred between the company and its subsidiary Shouguang Baolong when Shouguang Baolong was a holding subsidiary of the company. Previously, the company has made provision for bad debt of 80.93 million yuan for its receivables from Shouguang Baolong. The company will, based on prudence principle, make provisions for asset impairment losses and bad debts in accordance with the "Enterprise Accounting Standards" and the company's accounting policies, with the specific amount to be determined after audit by the accounting firm.