Shandong Molong Petroleum Machinery Company Limited (Shandong Molong) will ask shareholders to approve two financing proposals at an extraordinary general meeting (EGM) scheduled for 14:00 on 7 July 2026 in Shouguang, Shandong Province.
First, the company plans a non-public issuance of corporate bonds of up to RMB200.00 million. The bonds—par value RMB100 each—may be issued in one or several tranches, carry a fixed coupon, and have a maturity of no more than five years. Proceeds, net of issuance expenses, will be used mainly to repay interest-bearing debt and for other legally permitted purposes. The bonds will be offered only to professional investors and are intended for listing on the Shenzhen Stock Exchange (SZSE).
Second, Shandong Molong proposes a non-public issuance of perpetual corporate bonds of up to RMB200.00 million. The initial term will not exceed three years, with the company holding an option to extend the term in successive periods of up to three years each or to redeem in full at the end of any cycle. The bonds will bear a fixed rate for the initial period, reset every cycle based on a defined treasury benchmark plus an unchanged spread and an additional 300-basis-point step-up if the extension option is exercised. Interest payments may be deferred at the issuer’s discretion unless a mandatory payment event—such as dividend distribution or capital reduction—occurs within the prior 12 months. Net proceeds are earmarked to support upstream and downstream partners, including small, medium and micro enterprises, through advance payments or settlement of payables. These bonds are also targeted solely at professional investors and are expected to be listed on SZSE.
Shareholders will additionally vote on authorising the board—and permitting further delegation to management—to finalise issuance terms, engage intermediaries, arrange listings, and handle all regulatory filings for both bond offerings. Each authorisation, if granted, will be valid for 24 months.
The register of H-share members will be closed from 6 July to 7 July 2026 (both days inclusive). Holders of H Shares must lodge transfer documents with Tricor Investor Services by 16:30 on 3 July 2026 to qualify for attendance and voting rights. All EGM resolutions will be decided by poll, and results will be announced in accordance with Hong Kong Listing Rules.
Both financing plans are contingent on securing a no-objection letter from the SZSE.
Comments