---
title: "Hong Kong Stock Movement: CHK OIL plummets 26.97% due to inaccurate financial reports, market panic intensifies, and investor confidence is undermined"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/277705123.md"
description: "CHK OIL fell 26.97%; China National Offshore Oil Corporation fell 4.42%, with a transaction amount reaching HKD 1.074 billion; United Energy Group fell 6.82%, with a transaction amount reaching HKD 107 million; MI Energy fell 15.79%, with a transaction amount reaching HKD 897,000; Zhongneng Holdings fell 0.51%, with a market value of HKD 890 million"
datetime: "2026-03-04T01:37:35.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/277705123.md)
  - [en](https://longbridge.com/en/news/277705123.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/277705123.md)
---

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# Hong Kong Stock Movement: CHK OIL plummets 26.97% due to inaccurate financial reports, market panic intensifies, and investor confidence is undermined

**Hong Kong Stock Movement**

CHK OIL fell 26.97%. Based on recent key news:

1.  On March 3, the Hong Kong Stock Exchange took disciplinary action against CHK OIL and its former directors in Jiyuan, condemning its financial reports for being severely inaccurate, leading to a significant drop in stock price. The company failed to timely disclose major asset losses, violating listing rules and affecting investor confidence.
    
2.  On March 3, the Stock Exchange pointed out that CHK OIL failed to address the issue of oilfield lease termination, resulting in financial statements that exaggerated assets and concealed important information for over two years, further exacerbating market panic.
    
3.  On March 1, international oil prices rose due to increased risks of blockade in the Strait of Hormuz, leading to heightened market concerns about energy stocks, affecting CHK OIL's stock price. The energy market is experiencing increased volatility, and investors should be cautious.
    

**Stocks with High Trading Volume in the Industry**

CNOOC fell 4.42%. Based on recent key news:

1.  On March 3, China International Capital Corporation lowered its net profit forecast for CNOOC for 2025 by 4.2% and raised its target price for Hong Kong stocks to HKD 28. Due to the situation in Iran, the oil price center may rise to over USD 70 per barrel, driving stock price fluctuations. Source: Zhitong Finance
    
2.  On March 2, CNOOC saw multiple large transactions, with a trading amount exceeding HKD 20 million, indicating high market attention towards the stock. Source: Zhitong Finance
    
3.  On March 3, international oil prices experienced significant fluctuations due to geopolitical turmoil, leading to considerable uncertainty in the short term, affecting market sentiment. Source: China News Service, oil price volatility intensifies, geopolitical risks rise.
    

United Energy Group fell 6.82%, with a trading volume of HKD 107 million, and there has been no significant news recently. The trading is active, with clear capital flow. Considering the sector and industry trends, the stock shows significant volatility, and specific reasons need further observation.

MI Energy fell 15.79%, with a trading volume of HKD 897,000, and there has been no significant news recently. The trading is active, with clear capital flow. Considering the sector and industry trends, the stock shows significant volatility, and specific reasons need further observation.

**Stocks with High Market Capitalization in the Industry**

China Energy Holdings fell 0.51%. Based on recent news,

1.  On March 2, China Energy Holdings announced that it would hold a board meeting on March 27 to review and approve the annual performance for the year ending December 31, 2025, and consider recommendations for the final dividend. This news has attracted market attention, leading to stock price fluctuations. The market remains focused on the company's annual performance and dividend decisions

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