Petro-king to Defend Against Subsidiary Litigation Appeal

Petro-king Oilfield Services Ltd. (HK:2178) has released an update.

Petro-king Oilfield Services Ltd. has announced that a plaintiff has appealed against a ruling involving one of its subsidiaries, and in response, the company intends to vigorously defend the appeal, confident that it lacks reasonable grounds. The appeal has resulted in the freezing of approximately RMB 9.4 million in the subsidiary’s bank accounts, but despite this, the subsidiary’s operations remain unaffected. Shareholders and potential investors are advised to exercise caution when dealing in the company’s securities.

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