HK Stock Market Move | WISON ENGRG (02236) fell by more than 20% in the final trading session. Lukoil has been sanctioned by the UK and US, causing the company to terminate its existing contracts with Lukoil.

WISON ENGRG (02236) fell more than 20% at the close of trading, dropping 20.65% to 0.365 Hong Kong dollars, with a turnover of 2.1492 million Hong Kong dollars. On the news front, WISON ENGRG announced that the company's board of directors learned that on October 15, the British government imposed restrictive measures on Lukoil. On October 22, the United States Department of the Treasury's Office of Foreign Assets Control has placed Lukoil OAO and any entity directly or indirectly owned 50% or more by Lukoil OAO on the Special Designated Nationals List. The announcement stated that after Lukoil was subjected to restrictive measures by the UK and placed on the US Special Designated Nationals List, the company's procurement and construction contracts with Lukoil would be terminated before November 21, with an amount receivable of approximately 8.3 billion RMB. The group indicated that the termination of these contracts, which accounted for approximately 4% and 7.5% of the revenue and gross profit for the period ending in June, is preliminarily assessed not to affect the business and financial condition.