HK Stock Market Move | Shandong Molong Petroleum Machinery (00568) rises more than 4% and signs a debt payment agreement with Huarong Agriculture and two other parties, which will reduce leasing expenses and production costs.
Shandong Molong (00568) rose more than 4%, as of the time of writing, it had risen by 3.77% to HKD 3.31, with a turnover of HKD 25.6063 million.
Shandong Molong Petroleum Machinery (00568) rose more than 4%, as of the latest release, it rose 3.77% to 3.31 Hong Kong dollars, with a turnover of 25.6063 million Hong Kong dollars.
On the news front, Shandong Molong Petroleum Machinery announced that on December 29, 2025, the company, Huarong Agricultural and Vegetable Wholesale Company, entered into a debt payment agreement. The Vegetable Wholesale Company agreed to transfer the land to the company to pay off the debt owed by Huarong Agricultural in the amount of 361 million yuan.
The company believes that the payment will help the company recover the debt, reduce bad debt risks, improve the financial situation of the company, ensure fund safety, and have a relatively positive impact on the future financial situation and operating results of the group.
In addition, in recent years, the company has leased the land (together with the buildings, structures, and machinery and equipment erected on it) for the production and operation of the group. The payment will reduce the cost of leasing and production, and help stabilize the company's production and operation.
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