STRONG PETRO received the resumption guidance from the Stock Exchange and continues to be suspended
STRONG PETRO received the resumption guidance from the Stock Exchange on March 4, 2025, requiring an independent forensic investigation, proof of management's integrity and capability, an internal control review, the release of unpublished financial performance, compliance with listing rules, and the disclosure of significant information to the market. The company's shares remain suspended
According to the announcement from the Hong Kong Stock Exchange, STRONG PETRO (00852) received a letter on March 4, 2025, in which the Stock Exchange has established the following guidelines for the resumption of trading (resumption guidelines).
According to the resumption guidelines, the company must:
(a) conduct an independent forensic investigation into these matters, assess the impact on the company's business operations and financial condition, publish the investigation results, and take appropriate remedial actions;
(b) demonstrate that the integrity, competence, and/or character of the group's management and/or any person who has a significant influence on the management and operation of the company do not raise reasonable regulatory concerns that could pose risks to investors and undermine market confidence;
(c) conduct an independent internal control review and demonstrate that the company has adequate internal controls and procedures in place to comply with the listing rules;
(d) publish all unpublished financial performance in accordance with the listing rules and address any audit revisions;
(e) demonstrate that the company has complied with the provisions of Listing Rule 13.24; and
(f) disclose all material information to the market for the company's shareholders and other investors to assess the company's condition.
In addition, the company's shares remain suspended
