HK Stock Market Move | DALIPAL HLDG(01921) surged over 15% at one point, setting a new historical high during trading. The company continues to expand into the Middle East market.

DALIPAL HLDG (01921) rose more than 15% in the afternoon, reaching a high of HK$10.5, setting a new record high. As of the time of writing, it was up 4.64% at HK$9.48 with a turnover of HK$28.63 million. On the news front, DALIPAL HLDG announced in mid-December last year that its subsidiary, Dali Pu Petroleum Special Pipe Co., Ltd., passed Saudi Aramco's technical, quality, and management system audit, on-site factory inspection, product validation, and other procedures, and was approved to be included in the company's electronic market supplier database. In addition, DALIPAL HLDG announced in November last year that it had signed a letter of intent with Saudi Aramco's wholly-owned subsidiary, Salman King Energy City "SPARK", at the Abu Dhabi International Petroleum Exhibition, to sign a memorandum of understanding on the construction of basic production projects in SPARK. The project's products are mainly aimed at international markets such as the Middle East and Africa, and will focus on intelligent manufacturing, digital management, green development, and ESG standards to establish a world-class research and development center and intelligent manufacturing base.