Strong Petrochemical Holdings Limited on 31 March 2026 released its quarterly update on progress toward fulfilling Hong Kong Stock Exchange resumption requirements following the suspension of trading in its shares since 31 December 2024.
The company confirmed that the Big 4-led forensic investigation into historical incidents involving current and former management is in the final refinement stage, with additional observations from the Stock Exchange being addressed in the updated report. A separate internal control review conducted by Acclime Consulting is also nearing completion; remedial measures recommended by the adviser have been implemented and a follow-up review is under way.
On financial reporting, the audit of the year ended 31 December 2024 remains in progress. Management targets publication of the 2024 audited results by end-April 2026. Because that audit is unfinished, the group does not expect to meet the Listing Rules’ deadlines of 31 March 2026 for its 2025 annual results and 30 April 2026 for the 2025 annual report.
Operationally, activities across the group’s four core segments—commodities trading, storage services, petrochemical manufacturing and upstream oil and gas—continue “as usual in all material aspects.” Key data points include:
• Storage: Subsidiary Strong Nantong operates 21 tanks with an aggregate capacity of 139,000 cubic metres in Jiangsu Province, providing storage for gasoline, diesel and methanol, and is working to lift utilisation rates.
• Manufacturing: Fujian Petrochemical, which began trial production of styrene thermoplastic elastomer in March 2025, is optimizing processes and equipment to achieve full-capacity monthly output.
• Upstream: Pan China’s oil and gas operations remain stable, and negotiations with China National Petroleum Corporation for a contract extension are in progress without anticipated obstacles.
Trading in Strong Petrochemical’s shares will remain halted until all resumption guidance is met. The board will continue to issue updates in accordance with Listing Rule 13.24A and advises investors to exercise caution when dealing in the company’s securities.