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Strong Petrochemical Holdings Limited ( (HK:0852) ) just unveiled an update.
Strong Petrochemical Holdings Limited reported that trading in its shares remains suspended as it works to meet resumption requirements set by the Hong Kong Stock Exchange, including addressing incidents involving former management, completing an independent forensic investigation, and strengthening internal controls through an ongoing review by Acclime Consulting. The company is still coordinating with its auditor on the 2024 annual audit and the timetable for publishing its delayed 2024 and first-half 2025 financial results, while its core businesses in commodities trading, storage services and petrochemical operations continue to operate prudently amid oil market volatility, with efforts focused on maintaining customer relationships and improving storage tank utilisation.
More about Strong Petrochemical Holdings Limited
Strong Petrochemical Holdings Limited is a Hong Kong-listed petrochemical group engaged in trading commodities such as crude oil, petroleum products, petrochemicals and coal, as well as providing storage and ancillary services, manufacturing petrochemicals, and operating oil and gas assets. Its operations include a key PRC subsidiary, Strong Nantong, which runs 21 storage tanks with 139,000 cubic meters of capacity in Jiangsu Province, offering storage services for gasoline, diesel and methyl alcohol while seeking to enhance utilisation through customer development and service improvements.
Technical Sentiment Signal: Sell
Current Market Cap: HK$352.5M
Learn more about 0852 stock on TipRanks’ Stock Analysis page.