Shandong Molong (00568) and Huarong Agricultural and Vegetable Wholesale Company signed a debt payment agreement

Zhitong Finance App News, Shandong Molong (00568) issued an announcement. On December 29, 2025, the company and Huarong Agriculture and Vegetable Wholesale Company signed a debt payment agreement. The vegetable wholesale company agreed to pay the debt of RMB 361 million on behalf of Huarong Agriculture by transferring the land to the Company.

The Company believes that payment matters will help the Company recover this debt, reduce the risk of bad debts, improve the Company's financial situation, and ensure financial security, and have a relatively positive impact on the Group's future financial situation and operating results.

Furthermore, in recent years, the Company has leased this land (along with the houses, buildings, machinery and equipment erected on it) for the Group's production and operation. Payment matters will reduce leasing costs and production costs, and help stabilize the company's production and operation.

As stated in the company's announcement dated December 15, 2025, the company is planning to build a new high-end special petroleum pipe intelligent processing line project to supplement processing capacity and improve the production efficiency of the plant located on this land. The transfer of this land can meet the company's project construction needs, improve the industrial chain, provide an important foundation for further market development and production cost reduction, and help improve the company's later operations and profitability.