According to the Zhitong Finance App, Shandong Molong (002490.SZ) announced that the company plans to place new H shares on the main board of the Hong Kong Stock Exchange in accordance with general authorization. On July 22, 2026 (before the trading period), the company signed a “Placement Agreement” with the Placing Agent. The Company and the Placing Agent agreed to induce no less than six undertakers (they and their ultimate beneficial owners will be independent third parties) to subscribe for 25.6784 million shares in accordance with the Placing Price of HK$4.58 per share.

Assuming that all of the placed shares are placed, the total proceeds from the placement are estimated to be approximately HK$118 million, while the total net proceeds from the placement (after deducting commissions and estimated expenses) are estimated to be approximately HK$116 million. The company plans to use the net proceeds from the placement to repay outstanding loans to optimize the Group's financial structure and for working capital and general corporate purposes.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.