Strong Petrochem, officially Strong Petrochemical Holdings Limited, announced that it has satisfied all six resumption requirements set by the Hong Kong Stock Exchange and will see its shares resume trading at 9:00 a.m. on 16 September 2026.
Key milestones achieved: • Independent Investigation: A forensic probe into seven historical governance incidents found no material financial or operational impact on the group, except one unexecuted RMB50.00 million investment proposal deemed misconduct by former management. • Management Integrity: A re-constituted board (in place since January 2025) was assessed by an independent committee, which reported no evidence of misconduct among current directors or senior executives. A change in the controlling shareholder structure is pending court approval, with Director Wang Jian Sheng set to take full control of the 49.06% stake previously co-owned with a former director. • Internal Controls: Advisory firm Acclime confirmed remediation of prior control weaknesses and deemed the group’s controls adequate for Listing Rules compliance. • Financial Reporting: All delayed accounts have been published—audited FY 2024 and FY 2025 results and unaudited 1H 2025 and 1H 2026 results. Audit qualifications related to 2024-2025 crude-oil and bitumen trades, two bank accounts, and certain Macau transactions have been addressed; remaining impacts are confined to comparative figures only. • Operations & Assets: Despite suspension since December 2024, core businesses—commodity trading, storage, petrochemical manufacturing, and oil & gas production—continued. FY 2025 revenue was HKD 1.63 billion; 1H 2026 revenue was HKD 719.50 million. Liquidity stood at HKD 205.30 million as of 30 June 2026. • Market Disclosure: The company has provided regular updates throughout the suspension period, meeting all information requirements.
Operational outlook: Management will prioritize ramp-up of the Fujian SEBS plant, tighten trading risk controls, pursue renewal of the Kongnan Block petroleum contract with CNPC (expiring 2027), and consider funding options—including potential asset monetization or financing—to strengthen liquidity.
The board expressed gratitude to shareholders for their patience during the 21-month suspension and reiterated its commitment to rebuilding governance and sustaining long-term value creation.