STRONG PETRO (00852) has reported to the police, requesting an investigation into former Chief Financial Officer Guan Peishan, Wang Jiansheng, and their son Wang Peng for suspected embezzlement of the group's assets and possible criminal offenses.

STRONG PETRO (00852) announced that the company has reported to the police and requested an investigation into the alleged embezzlement of the company's assets by Ms. Guan Peishan, former Chief Financial Officer of the group, Mr. Wang Jiansheng, and their son Mr. Wang Peng, which may constitute criminal offenses. The company is aware that the police are currently investigating the matter. The company recently conducted an internal financial review and found evidence suggesting that Ms. Guan may have abused her power in 2022 and conspired with Mr. Wang Jiansheng and Mr. Wang Peng to embezzle the company's assets through unauthorized reimbursements to Mr. Wang Peng. The preliminary estimate of the embezzled amount exceeds one million Hong Kong dollars, most of which were used for Mr. Wang Peng's personal expenses and luxury purchases. The evidence raises reasonable suspicion that Ms. Guan, Mr. Wang Jiansheng, and Mr. Wang Peng may have conspired to embezzle the company's assets, or may have committed criminal offenses. The company is currently conducting a thorough internal investigation and audit.