The latest announcement is out from Shandong Molong Petroleum Machinery ( (HK:0568) ).
Shandong Molong Petroleum Machinery Company Limited has received court acceptance for the liquidation of its debtor, Shouguang Baolong Petroleum Equipment Co., Ltd., which owes the company RMB 291,937,181.56. Despite the liquidation proceedings, the company maintains that its operations remain normal and unaffected. However, the liquidation process is expected to be complex and lengthy, with an uncertain timeline, and the company is unable to accurately estimate its future impact. Shandong Molong plans to closely monitor the situation, safeguard its interests, and mitigate potential losses.
More about Shandong Molong Petroleum Machinery
Shandong Molong Petroleum Machinery Company Limited operates in the petroleum machinery industry, focusing on the production of equipment and machinery for the petroleum sector. The company is based in Shandong, China, and is involved in various aspects of the petroleum equipment supply chain.
YTD Price Performance: -11.92%
Average Trading Volume: 6,266
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $318.8M
For a thorough assessment of 0568 stock, go to TipRanks’ Stock Analysis page.