HLSH International: The weak demand for PETROCHINA is expected to continue until mid-next year

Janet Kong, the International CEO of HLSH, stated that China's oil demand may remain sluggish at least until the middle of next year unless the government introduces new stimulus policies early next year. Government policies are the biggest variable affecting China's economic outlook, and the market is focused on whether there will be more stimulus measures. Increasing fuel export quotas for refineries may stimulate demand, and China's procurement for strategic oil reserves may also boost imports, but high inventory levels and the scale of procurement remain unclear

Liaoning Provincial Party Secretary Xu Kunlin met with a delegation led by Chen Jianhua, Chairman of Hengli Group

On November 2nd, Xu Kunlin, Secretary of the Liaoning Provincial Committee, met with Chen Jianhua, Chairman of Hengli Group, in Dalian, emphasizing support for the development of private enterprises and creating a favorable business environment. Xu Kunlin hopes that Hengli Group will further develop in Liaoning, play a leading role, promote the construction of the petrochemical industry chain, and contribute to the revitalization of Liaoning's economy

HLSH released its performance for the first three quarters, with a net profit attributable to shareholders of 5.023 billion yuan, a year-on-year decrease of 1.61%

According to the Zhitong Finance APP, HLSH disclosed its third-quarter report for 2025. The company's revenue for the first three quarters reached 157.384 billion yuan, a year-on-year decrease of 11.46%; net profit attributable to shareholders was 5.023 billion yuan, a year-on-year decrease of 1.61%; net profit excluding non-recurring items was 4.185 billion yuan, a year-on-year decrease of 9.54%; basic earnings per share were 0.71 yuan

HLSH's net profit for the third quarter is 1.97 billion yuan

ST Ningke: Subsidiary HLSH International Trade has been ruled for reorganization

ST Ningke's wholly-owned subsidiary Hengli International Trade was ruled for reorganization by the Intermediate People's Court of Shizuishan City, Ningxia Hui Autonomous Region on October 21, 2025, and a temporary administrator was appointed. There is uncertainty regarding the success of the reorganization; if it ultimately fails, Hengli International Trade may face bankruptcy risk. The company will urge Hengli International Trade to actively manage daily production and operations and cooperate with the administrator