Shandong Molong (00568) invests in the construction of the “High-end Special Petroleum Pipe Intelligent Processing Line Project”

Zhitong Finance App News, Shandong Molong (00568) issued an announcement. According to the company's development strategy and plan, in order to further enhance pipeline processing capacity, improve the production chain, and enhance market competitiveness, on December 15, 2025, the company held the 9th interim meeting of the 8th board of directors to review and pass the “Proposal on Investment and Construction Projects”, agreeing that the company would use no more than RMB 170 million of its own or self-raised capital to invest in the construction of the “High-end Special Petroleum Pipeline Intelligent Processing Line Project” (this project).

The project aims to improve the company's comprehensive operating efficiency and unleash the company's development potential by expanding the scale of production lines, optimizing production layout, improving supporting facilities, and supplementing processing capacity. After completion, the project is expected to enhance the company's high-end product supply capacity, reduce production costs, enhance the company's core competitiveness and comprehensive strength, and be in line with the company's development strategy.

The source of investment capital for the project is the company's own or self-funded capital. The company will invest in installments according to the project plan and implementation schedule. It will not have a significant impact on the company's financial situation and operating results in the short term, will not affect the normal development of the company's current main business, and will not harm the interests of the company or all shareholders.