Strong Petrochemical Holdings Limited (STRONG PETRO) alerted shareholders that it expects a loss attributable to owners of between HK$325.00 million and HK$340.00 million for the financial year ended 31 December 2024. The projected deficit is roughly 3.40 times the HK$95.40 million loss recorded in FY 2023.

The anticipated deterioration is mainly driven by: 1. A larger impairment loss on the Group’s interest in an associate. 2. Higher impairment losses on property, plant and equipment and on right-of-use assets. 3. Weaker gross profit and reduced gains from trading crude-oil-related derivative instruments. 4. Increased administrative and other expenses.

These negatives are expected to be partly offset by a smaller impairment loss on an unlisted equity investment.

Management noted that the figures are based on unaudited management accounts and remain subject to finalisation, auditor review and potential adjustments. The audited annual results are scheduled for release in mid-June 2026.

Regulatory considerations include: • The profit warning constitutes a profit forecast under Rule 10 of the Hong Kong Takeovers Code. Because of timing constraints, it has not yet been reported on by the Company’s financial advisers, auditors or accountants. • Trading in STRONG PETRO shares has been suspended since 09:00 a.m. on 31 December 2024 and will remain suspended until further notice. • Shareholders are advised to exercise caution, particularly given ongoing takeover-related processes linked to the liquidation of controlling shareholder Forever Winner International Ltd.

The Board emphasised that all information in the profit warning is preliminary and unaudited. Shareholders and potential investors should exercise caution when dealing in the Company’s securities.