SINOPEC KANTONS (00934): Rizhao Shihua Added to OFAC SDN List

Stock News

2025/10/13

SINOPEC KANTONS (00934) announced that the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has placed Rizhao Shihua Crude Oil Terminal Co., Ltd. (Rizhao Shihua) on the Specially Designated Nationals (SDN) list. The company holds a 50% stake in Rizhao Shihua.

Rizhao Shihua primarily operates crude oil terminal and supporting facilities business. During fiscal year 2024, investment income generated by Rizhao Shihua for the company represented approximately 12% of the group's profit before income tax, while the group's profit before income tax for fiscal year 2024 was approximately HK$1.287 billion.

According to the company's preliminary assessment, following Rizhao Shihua's inclusion on the SDN list, its related business operations may face restrictions, which could subsequently impact the group's overall performance. The group's other business operations continue to function normally.

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(Rizhao Shihua) on the Specially Designated Nationals (SDN) list. The company holds a 50% stake in Rizhao Shihua.</p>\n<p>Rizhao Shihua primarily operates crude oil terminal and supporting facilities business. During fiscal year 2024, investment income generated by Rizhao Shihua for the company represented approximately 12% of the group's profit before income tax, while the group's profit before income tax for fiscal year 2024 was approximately HK$1.287 billion.</p>\n<p>According to the company's preliminary assessment, following Rizhao Shihua's inclusion on the SDN list, its related business operations may face restrictions, which could subsequently impact the group's overall performance. 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