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Strong Petrochemical Holdings Limited ( (HK:0852) ) has shared an update.
Strong Petrochemical Holdings has disclosed that Forever Winner International Ltd. (FWI), its controlling shareholder holding about 49.06% of its issued shares, has been ordered wound up by the Eastern Caribbean Supreme Court in the British Virgin Islands, with joint liquidators appointed under local insolvency law. The company stressed that the order applies only to FWI, not to Strong Petrochemical itself, but the liquidation of such a large shareholder could have governance and ownership implications, particularly as FWI is jointly owned by entities linked to a former executive director and a current non-executive director. Trading in Strong Petrochemical’s shares has been suspended since 31 December 2024 and will remain halted until further notice, leaving investors in limbo while the company monitors developments in the FWI liquidation and commits to providing further updates in line with Hong Kong listing and securities regulations.
More about Strong Petrochemical Holdings Limited
Strong Petrochemical Holdings Limited is a Hong Kong-listed company in the energy and petrochemical sector. Its shares trade on the Main Board of the Hong Kong Stock Exchange, and its shareholder base includes a controlling shareholder vehicle, Forever Winner International Ltd. (FWI), which historically has held just over 49% of the company’s issued share capital through interests ultimately owned by former executive director Yao Guoliang and current non-executive director Wang Jian Sheng.
Technical Sentiment Signal: Sell
Current Market Cap: HK$352.5M
Learn more about 0852 stock on TipRanks’ Stock Analysis page.