Changes in Hong Kong stocks | Sinopec Guande (00934) fell more than 6% after the warning, and the impact of the situation in the Middle East compounded by the impact of the situation in the Middle East compounded by Rizhao Shihua's liquidation, the net profit fell to a maximum of 35% in the medium term

The Zhitong Finance App learned that Sinopec Guande (00934) fell by more than 6% after the announcement. As of press release, it was down 5.82% to HK$3.56, with a turnover of HK$1.0812 million.

According to the news, Sinopec Guande issued an announcement. It is expected that profit attributable to shareholders in the medium term will drop by about 25%-35% year-on-year. Mainly due to the escalation of the situation in the Middle East during the period, navigation through the Strait of Hormuz was seriously hampered, directly affecting the global oil market pattern, as well as the Group's domestic and overseas warehousing and terminal business, as well as the contribution of subsidiary companies to the Group's profits. Furthermore, Rizhao Shihua has already entered the liquidation process, resulting in a sharp decrease in throughput and investment income contributed to the Group compared to the same period last year.

According to public information, Sinopec Guande is Sinopec's only red chip subsidiary listed in Hong Kong. Sinopec Guande and its subsidiaries are mainly engaged in providing crude oil terminal services. The Group's joint ventures and associated companies are mainly engaged in operating crude oil and petroleum products terminals and ancillary facilities, and providing logistics services including warehousing, transportation and terminal services.