--- title: "Hong Kong stock movement: PETRO-KING rose 19.67%, with improved profit expectations and government subsidies boosting market confidence" type: "News" locale: "en" url: "https://longbridge.com/en/news/278804692.md" description: "PETRO-KING rose 19.67%; Shandong Molong rose 12.10%, with a transaction volume of HKD 1.304 billion; Sinopec Oilfield Services had a transaction volume of HKD 212 million; CNOOC Services fell 0.20%, with a transaction volume of HKD 36.8 million; Dalipu Holdings fell 0.84%, with a market value of HKD 8.936 billion" datetime: "2026-03-12T02:02:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278804692.md) - [en](https://longbridge.com/en/news/278804692.md) - [zh-HK](https://longbridge.com/zh-HK/news/278804692.md) --- # Hong Kong stock movement: PETRO-KING rose 19.67%, with improved profit expectations and government subsidies boosting market confidence **Hong Kong Stock Movement** PETRO-KING rose 19.67%. Based on recent news, 1. On March 10, PETRO-KING announced that it expects profits for the fiscal year 2025 to not exceed HKD 25 million, compared to a loss of HKD 17.8 million in 2024. The improvement in profitability is mainly due to reduced depreciation expenses, increased government subsidies, and the turnaround of joint venture performance. This news boosted market confidence, driving the stock price up. 2. On March 11, PETRO-KING reaffirmed its profit expectations for 2025 and indicated that it will announce its performance on March 25. Market expectations for the company's future performance further strengthened, and the stock price continued to rise. 3. On March 10, analysts rated PETRO-KING as Hold, with a target price of HKD 0.08. Although the rating remained unchanged, the market expressed optimism about the improvement in the company's financial health, driving the stock price up. The oilfield services industry has performed strongly recently, with increased government subsidies. **Stocks with High Trading Volume in the Industry** Shandong Molong rose 12.10%. Based on recent key news: 1. On March 9, Shandong Molong's stock price surged, mainly driven by rising international oil prices due to tensions in the Middle East, leading to a strong performance in the A-share oil and gas sector. Shandong Molong became a focus of capital pursuit, with its stock price rising for five consecutive trading days, accumulating a gain of 52.37%. However, the company announced that fluctuations in international oil prices do not have substantial positive effects on performance, warning investors to be cautious of irrational speculation risks. Source: Daily Economic News 2. On March 10, Barclays PLC increased its holdings in Shandong Molong by 41.8492 million shares, totaling approximately HKD 427 million, raising its shareholding ratio to 31.12%. This increase reflects institutional confidence in the company's future development, further driving the stock price up. Source: Zhitong Finance 3. On March 9, Shandong Molong announced that during the period of abnormal stock price fluctuations, the controlling shareholder and actual controller did not buy or sell company stocks, and production and operational activities were normal, with no significant changes found. The company emphasized that market sentiment is overheated, posing risks of irrational speculation. Source: Economic Information Daily The oil and gas sector is experiencing increased volatility due to geopolitical influences. Sinopec Oilfield Services reached a trading volume of HKD 212 million. Based on recent news, 1. On March 9, Sinopec stated that it will continue to strengthen its sustainable development strategy, focusing on the development and transformation of green low-carbon products, enhancing resource integration flexibility and efficiency. This move is expected to enhance the company's long-term competitiveness, but it has limited short-term impact on stock prices. 2. On March 9, Nie Zhenbang stated that although Sinopec's stock price has recently corrected, the current price is not attractive due to a decline in mid-term profits, and there are downside risks. This statement negatively impacted investor confidence, leading to a decline in stock prices. 3. On March 11, the International Energy Agency proposed to release the largest-ever strategic reserve of crude oil, which, if approved, would alleviate supply and demand pressures on crude oil and may exert downward pressure on oil prices in the short term, thereby affecting the performance of energy stocks like Sinopec. Increased oil price volatility and macroeconomic uncertainties CNOOC Oilfield Services fell 0.20%. Based on recent news, 4. On March 9, BlackRock reduced its holdings in CNOOC Oilfield Services by 688,000 shares at a price of HKD 10.3899 per share, totaling approximately HKD 7.1483 million. After the reduction, the latest holding ratio is 6.97%. This move may lead to a decline in market confidence in the stock, putting pressure on its price. 5. On March 10, CNOOC Oilfield Services announced plans to issue secured notes totaling RMB 5 billion, with an annual interest rate of 1.95%. The net proceeds will mainly be used to repay existing debts and for general corporate purposes. This move may be interpreted by the market as a need for improvement in the company's financial condition, affecting stock price performance. 6. On March 11, the International Energy Agency proposed to release the largest-ever strategic oil reserves, potentially exceeding 182 million barrels during the 2022 Russia-Ukraine conflict. This news may impact oil prices, which in turn affects the market performance of CNOOC Oilfield Services. Oil price fluctuations and debt issuance influence stock prices. **Stocks ranked at the top of the industry by market capitalization** Dalipe Holdings fell 0.84%, with a market capitalization of HKD 8.936 billion, and there has been no significant news recently. The trading is active, with clear capital flows. Considering the sector and industry trends, this stock shows significant volatility, and the specific reasons need further observation ### Related Stocks - [02178.HK](https://longbridge.com/en/quote/02178.HK.md) ## Related News & Research - [Petro-king Wins Unanimous Shareholder Backing at 2026 AGM](https://longbridge.com/en/news/286569136.md) - [When fuel prices hit different](https://longbridge.com/en/news/286772713.md) - [Oil little changed as traders await breakthrough in US.-Iran negotiations](https://longbridge.com/en/news/286925961.md) - [Gas prices got you stressed? More commuters turning to carpools](https://longbridge.com/en/news/286555530.md) - [Gas prices: Three consecutive days of increases at the pumps to begin the week](https://longbridge.com/en/news/286901121.md)