HK Stock Market Move | Sinopec (00857) rose over 3% during trading, CAS and PetroChina Shanghai Advanced Materials Research Institute announced cooperation.

CNOOC (00857) rose more than 3% intraday, rising 3.4% to HKD 6.08 by the time of publication, with a turnover of HKD 4.99 billion. In terms of news, according to market reports, one branch of the American Chemical Society, CAS, is collaborating with PetroChina's subsidiary, the Shanghai Advanced Materials Research Institute, to use the CAS SciFinder Discovery Platform to accelerate research and discovery in new materials chemistry. It is understood that the Shanghai Advanced Materials Research Institute of PetroChina was established in 2021 with the aim of addressing key technological challenges in advanced chemical materials and transforming CNPC from a traditional petroleum refining and petrochemical product supplier to a more advanced and sustainable materials supplier. Its research focuses on high-performance engineering materials, high-performance polyolefins and elastomers, special catalysts, advanced membrane materials, fibers, and composite materials, among others. Huang Xudong, Deputy Director of the Shanghai Advanced Materials Research Institute of PetroChina, said: "We are very pleased to collaborate with CAS. They will be a strong partner, providing their sophisticated scientific information solutions to promote and accelerate our approach to advanced science and technology in new materials. We look forward to exploring more innovative ideas through our collaboration with CAS."