HK Stock Market Move | DALIPAL HLDG (01921) surged by over 30%, partnering with Saudi Aramco to build a production base in SPARK. The company previously established a development strategy in the Middle East.

DALIPAL HLDG (01921) surged more than 30%, as of the time of publication, rising by 28.98% to HK$8.19, with a turnover of HK$84.7978 million. On the news front, DALIPAL HLDG announced that it has signed a letter of intent with Saudi Aramco's fully owned subsidiary, Salman King Energy City "SPARK", at the Abu Dhabi International Petroleum Exhibition, to sign a memorandum of understanding on the construction of a production base in SPARK. The project's products mainly target international markets such as the Middle East and Africa, and will be built as a world-class research and development center and intelligent manufacturing base in accordance with intelligent manufacturing, digital management, green development, and ESG standards. It is worth noting that in March of this year, DALIPAL announced that the board of directors approved the establishment of the Middle East regional headquarters, research and development center, smart factory, and data control center as part of the company's future strategic development in the Middle East, to better serve top customers in the global energy industry and explore important directions including the Middle East, Africa, Europe, and the United States. According to research reports from CMBC CAPITAL, the Middle East region is expected to contribute more than half of DALIPAL's profits in the long term.