Strong Petrochemical expects USD 10.7 million loss from bitumen trading deal

• Strong Petrochemical flagged an expected loss of about USD 10.7 million from a bitumen trading transaction.
• The deal stems from a November 2025 framework contract to import about 1,650,000 barrels of bitumen in 2026 for domestic sales into China’s road asphalt market.
• Costs rose due to prolonged customs inspections, unfavorable product classification, higher storage and demurrage charges, and hedging impacts.
• Market conditions worsened during the detention period as Middle East conflict escalation lifted transport costs, distorted crude price structure, and weakened mainland China customer demand.
• The loss estimate is preliminary and unaudited; management expects no material adverse effect on ongoing operations.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Strong Petrochemical Holdings Ltd. published the original content used to generate this news brief via IIS, the regulatory disclosure system operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260519-12164346), on May 19, 2026, and is solely responsible for the information contained therein.