Kunlun Energy (00135) experienced a sharp decline of over 10% during morning trading. At the time of writing, the stock was down 8.67%, trading at HK$7.58, with a turnover of HK$144 million.

The movement follows the company's announcement of its 2025 financial results on the evening of March 24. Revenue reached 193.979 billion yuan, marking a 3.71% year-on-year increase. However, profit attributable to equity shareholders was 5.346 billion yuan, a decrease of 10.3% compared to the previous year. Basic earnings per share were 61.74 cents. The board proposed a final dividend of 14.98 cents per share, or 16.84 Hong Kong cents per share, compared to a dividend of 15.17 cents per share in the prior financial year.

Additionally, signs of easing geopolitical tensions in the Middle East led to a significant drop in international oil prices. Brent crude futures fell sharply from the $100 mark, dropping below $95.