Strong Petrochemical Flags $10 Million Loss on Imported Bitumen

MT Newswires Live

May 20

Strong Petrochemical (HKG:0852) said it expects to record a $10.7 million loss in a recent trading transaction involving bitumen products, according to a Tuesday filing with the Hong Kong bourse.

Trading in the company's shares has been suspended since Dec. 31, 2024, and will remain halted until further notice.

The company said it had imported 1.65 million barrels of bitumen products with the intention of selling them domestically as raw materials for road asphalt production. However, import customs authorities conducted "excessively long inspections" on the imports, resulting in an increase in the group's selling costs.

Similarly, the Middle East conflict prompted a rise in transportation and other related costs, causing a drop in demand in the mainland for its imported product.

As a result, the firm said it expects to record a loss on the transaction when taking into account the combined effects of the difference between buying and selling prices of the imported bitumen products.

The loss will not have a material adverse effect on the company's ongoing operations, the firm said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

1
2
3
4
5
6
7
8
9
10

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2636989239"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2636989239\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2636989239?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-05-20 11:22","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2636989239","market":"nz","top_or_hot":-1,"title":"Strong Petrochemical Flags $10 Million Loss on Imported Bitumen","media":"MT Newswires Live","content":"<html><body><p> Strong Petrochemical (HKG:0852) said it expects to record a $10.7 million loss in a recent trading transaction involving bitumen products, according to a Tuesday filing with the Hong Kong bourse.</p><p>Trading in the company's shares has been suspended since Dec. 31, 2024, and will remain halted until further notice.</p><p>The company said it had imported 1.65 million barrels of bitumen products with the intention of selling them domestically as raw materials for road asphalt production. However, import customs authorities conducted \"excessively long inspections\" on the imports, resulting in an increase in the group's selling costs.</p><p>Similarly, the Middle East conflict prompted a rise in transportation and other related costs, causing a drop in demand in the mainland for its imported product.</p><p>As a result, the firm said it expects to record a loss on the transaction when taking into account the combined effects of the difference between buying and selling prices of the imported bitumen products.</p><p>The loss will not have a material adverse effect on the company's ongoing operations, the firm said.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Strong Petrochemical Flags $10 Million Loss on Imported Bitumen</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStrong Petrochemical Flags $10 Million Loss on Imported Bitumen\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1092851196\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires Live </p>\n<p class=\"h-time\">2026-05-20 11:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> Strong Petrochemical (HKG:0852) said it expects to record a $10.7 million loss in a recent trading transaction involving bitumen products, according to a Tuesday filing with the Hong Kong bourse.</p><p>Trading in the company's shares has been suspended since Dec. 31, 2024, and will remain halted until further notice.</p><p>The company said it had imported 1.65 million barrels of bitumen products with the intention of selling them domestically as raw materials for road asphalt production. However, import customs authorities conducted \"excessively long inspections\" on the imports, resulting in an increase in the group's selling costs.</p><p>Similarly, the Middle East conflict prompted a rise in transportation and other related costs, causing a drop in demand in the mainland for its imported product.</p><p>As a result, the firm said it expects to record a loss on the transaction when taking into account the combined effects of the difference between buying and selling prices of the imported bitumen products.</p><p>The loss will not have a material adverse effect on the company's ongoing operations, the firm said.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1562","symbol_name":"石化股","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2636989239","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2636989239","pubTimestamp":1779247356,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Strong Petrochemical  said it expects to record a $10.7 million loss in a recent trading transaction involving bitumen products, according to a Tuesday filing with the Hong Kong bourse.Trading in the company's shares has been suspended since Dec. 31, 2024, and will remain halted until further notice.The company said it had imported 1.65 million barrels of bitumen products with the intention of selling them domestically as raw materials for road asphalt production. However, import customs authorities conducted \"excessively long inspections\" on the imports, resulting in an increase in the group's selling costs.Similarly, the Middle East conflict prompted a rise in transportation and other related costs, causing a drop in demand in the mainland for its imported product.As a result, the firm said it expects to record a loss on the transaction when taking into account the combined effects of the difference between buying and selling prices of the imported bitumen products.The loss will not ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1562":"石化股","00852":"海峡石油化工","BK1159":"石油与天然气的炼制和营销"},"translate_title":"Strong Petrochemical表示进口沥青损失1000万美元","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00852":0.9},"content_text":"Strong Petrochemical (HKG:0852) said it expects to record a $10.7 million loss in a recent trading transaction involving bitumen products, according to a Tuesday filing with the Hong Kong bourse.Trading in the company's shares has been suspended since Dec. 31, 2024, and will remain halted until further notice.The company said it had imported 1.65 million barrels of bitumen products with the intention of selling them domestically as raw materials for road asphalt production. However, import customs authorities conducted \"excessively long inspections\" on the imports, resulting in an increase in the group's selling costs.Similarly, the Middle East conflict prompted a rise in transportation and other related costs, causing a drop in demand in the mainland for its imported product.As a result, the firm said it expects to record a loss on the transaction when taking into account the combined effects of the difference between buying and selling prices of the imported bitumen products.The loss will not have a material adverse effect on the company's ongoing operations, the firm said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}