Shandong Molong Tightens Governance With New Rules for Shareholders’ Meetings

The latest update is out from Shandong Molong Petroleum Machinery ( (HK:0568) ).

Shandong Molong Petroleum Machinery has issued a comprehensive set of rules governing the conduct of its shareholders’ meetings, formalizing procedures to align strictly with China’s Company Law, Securities Law, Shenzhen Stock Exchange listing rules, and its Articles of Association. The new rules clarify the rights of shareholders and their proxies to be informed, speak, question and vote, require the board of directors to diligently organize meetings, and mandate the engagement of an independent lawyer to opine on the legality of meeting procedures, qualifications of attendees, and voting results. They also reaffirm the shareholders’ meeting as the company’s highest decision-making body, detailing its authority over key matters such as electing and remunerating directors, approving reports and profit distribution plans, altering registered capital, issuing bonds, major asset transactions, amendments to the Articles, appointment and dismissal of auditors, guarantees, use of raised funds, and equity incentive and employee stock ownership plans, thereby strengthening governance transparency and safeguarding shareholder interests.

The most recent analyst rating on (HK:0568) stock is a Hold with a HK$3.00 price target. To see the full list of analyst forecasts on Shandong Molong Petroleum Machinery stock, see the HK:0568 Stock Forecast page.

More about Shandong Molong Petroleum Machinery

Shandong Molong Petroleum Machinery Company Limited is a China-based manufacturer in the petroleum equipment sector, focusing on oilfield machinery and related products used in exploration and production activities. The company is listed on the Shenzhen Stock Exchange and operates under Chinese corporate governance and securities regulatory frameworks.

Average Trading Volume: 41,530,551

Technical Sentiment Signal: Buy

Current Market Cap: HK$4.73B

For a thorough assessment of 0568 stock, go to TipRanks’ Stock Analysis page.