Shandong Molong Wins Shareholder Approval for New H-Share Issuance Mandate

Shandong Molong Petroleum Machinery ( (HK:0568) ) has provided an announcement.

Shandong Molong Petroleum Machinery Company Limited reported the results of its extraordinary general meeting held on 8 April 2026 in Shouguang City, Shandong Province, where shareholders voted on a mandate related to the issuance of H shares. Shareholders representing about 30% of the company’s issued share capital attended, and the special resolution granting the board a general mandate to allot, issue and deal with H shares was duly passed with more than two-thirds support, reinforcing the company’s flexibility to raise capital in the equity markets.

The company confirmed there were no treasury shares or repurchased shares pending cancellation affecting voting rights, and no shareholders were required to abstain under Hong Kong Listing Rules. All directors attended the meeting, and an external accounting firm, Grant Thornton Zhitong Certified Public Accountants LLP, was appointed as scrutineer to oversee the poll, underscoring regulatory compliance and governance standards for the vote.

The most recent analyst rating on (HK:0568) stock is a Hold with a HK$4.00 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 Sino-foreign joint stock company incorporated in the People’s Republic of China with limited liability. The company is listed in Hong Kong and issues both A shares and H shares, serving investors in mainland China and international capital markets.

Average Trading Volume: 171,933,510

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$8.21B

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