---
title: "SINOPEC KANTONS and Rizhao Shihua Joint Venture initiate liquidation process"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/277356761.md"
description: "SINOPEC KANTONS announced that the joint venture Rizhao Shihua has initiated liquidation procedures. Accordingly, its related assets will be sold to an independent third party, with a transaction price of approximately RMB 2.41 billion. In accordance with relevant accounting standards, the group expects to recognize a loss of approximately HKD 127 million in 2026 due to the liquidation of Rizhao Shihua"
datetime: "2026-03-01T13:09:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277356761.md)
  - [en](https://longbridge.com/en/news/277356761.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277356761.md)
---

# SINOPEC KANTONS and Rizhao Shihua Joint Venture initiate liquidation process

SINOPEC KANTONS (00934.HK) announced that the joint venture Rizhao Shihua has initiated liquidation procedures. Accordingly, its related assets will be sold to an independent third party, with a transaction price of approximately RMB 2.41 billion. In accordance with relevant accounting standards, the group expects to recognize a loss of approximately HKD 127 million in 2026 due to the liquidation of Rizhao Shihua

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