Shandong Molong Petroleum Machinery Company Limited (SZSE: 002490) has announced plans to issue corporate bonds via private placement to professional investors, with a total value not exceeding 200 million yuan.

The company stated that the move aims to further diversify its financing channels, optimize its debt structure, and mitigate funding risks, in line with its current operational circumstances.

Proceeds from the bond issuance, after deducting necessary offering expenses, are intended for repaying interest-bearing debts of the company and its subsidiaries, as well as for other purposes permitted by laws and regulations. The specific allocation of funds will be finalized prior to the issuance based on the company's capital requirements within the stated scope.