Shandong Molong Petroleum Machinery Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
On March 31, 2026, the Company held the fifth meeting of the eighth Board of Directors, which reviewed and approved the proposal regarding uncovered losses exceeding one-third of the paid-in capital. The specific situation is as follows:
1. Overview
According to the audit by Zhitong Accounting Firm (Special General Partnership), as of December 31, 2025, the Company's audited uncovered losses amounted to CNY 146.44 million, while the paid-in capital was CNY 79.78 million. The uncovered losses exceed one-third of the total paid-in capital. According to the relevant provisions of the Company Law and the Articles of Association, this matter needs to be submitted to the Company's 2025 annual shareholders' meeting for review.