HK Stock Market Move | DALIPAL HLDG (01921) fell nearly 9% after rising more than 80% yesterday. It plans to partner with Saudi Aramco to build a production base in SPARK.

DALIPAL HLDG (01921) rose more than 80% at one point yesterday and closed up 56%. Today, it fell nearly 9% during trading hours, and as of press time, it was down by 7.37%, at 6.66 Hong Kong dollars, with a turnover of 25.9231 million Hong Kong dollars. In terms of news, DALIPAL HLDG announced that it had signed a letter of intent with Saudi Aramco's fully-owned subsidiary, King Salman Energy City "SPARK," at the Abu Dhabi International Petroleum Exhibition. The two parties will sign a memorandum of understanding on the construction of basic production projects in SPARK. The project's products are mainly aimed at international markets in the Middle East and Africa, and will focus on intelligent manufacturing, digital management, green development, and ESG standards, to build a world-class research and development center and intelligent manufacturing base. It is reported that in mid-August this year, DALIPAL HLDG announced that the group had successfully obtained an industrial investment license issued by the Saudi Arabian Ministry of Investment. This marks substantive progress for the group's "Middle East Strategic Development Plan" released in March 2024 in Saudi Arabia. The group's successful acquisition of the investment license means that the group can operate in Saudi Arabia, making it the central hub for the Middle East and Africa, and a key step in the group's strategic development towards building production facilities, conducting investment and financing, and better serving customers in the Middle East and Africa markets.