Strong Petrochemical Holdings Limited (STRONG PETRO) released a quarterly update on 30 Jun 2026 detailing its efforts to satisfy the Hong Kong Stock Exchange’s resumption conditions and outlining current business performance while trading in its shares remains suspended.
Key steps toward resumption • Forensic investigation: A Big 4 forensic team’s latest report on past management-related incidents has been submitted to the Stock Exchange. Findings disclosed on 30 Sep 2025 and 12 Jun 2026 identified no misconduct or irregularities involving current management. • Management suitability: The Board states there is “no reasonable regulatory concern” regarding the integrity or competence of existing directors or senior executives. • Internal controls: Internal control adviser Acclime Consulting has completed its review and follow-up assessment; the final report has been provided to the regulator. • Financial reporting: 2024 annual results and 2025 interim results were published on 12 Jun 2026 and 23 Jun 2026, respectively. The company plans to release its 2025 annual results on 31 Jul 2026. • Ongoing disclosure: Quarterly updates and material developments continue to be announced in line with Listing Rule requirements. • Business continuity: The group asserts that normal operations and revenue-generating activities have been maintained, supporting compliance with Listing Rule 13.24 regarding sufficient operations and asset value.
Operational highlights (Q2 2026) • Commodity trading: Teams remain active in crude oil, petroleum products and petrochemicals amid a volatile geopolitical environment, with an emphasis on tighter risk management and selective expansion. • Storage services: Subsidiary Strong Nantong operates 21 storage tanks with 139,000 cubic meters of capacity for gasoline, diesel and methanol, focusing on raising utilization through customer diversification. • Petrochemical manufacturing: Fujian Petrochemical, in trial production since Mar 2025, continues to optimise processes for styrene thermoplastic elastomer, targeting full-capacity monthly output and enhanced product quality. • Oil & gas operations: Pan China maintains stable performance; negotiations with China National Petroleum Corporation on contract extension are progressing without anticipated hurdles.
Trading status Shares have been suspended since 31 Dec 2024. Strong Petrochemical is engaging with the Stock Exchange to secure approval for resumption. Trading will remain suspended until further notice, and investors are advised to exercise caution when dealing in the company’s securities.