HK Stock Market Move | CHINA HK POWER(00931) rose over 14% after announcing a cooperation agreement on oil and LNG with Saudi Al-Qimmah recently.

CHINA HK POWER (00931) rose by over 14% again, after rising by 50% at one point yesterday, ultimately closing up by 5.06%. As of the time of writing, the stock has risen by 14.46%, to 0.475 Hong Kong dollars, with a trading volume of 26.2813 million Hong Kong dollars. In terms of news, CHINA HK POWER recently announced a petroleum and liquefied natural gas cooperation agreement and a strategic investment cooperation agreement with Al-Qimmah Energy FZCO. Both parties will establish a long-term strategic cooperation relationship in the areas of capital cooperation and oil and gas trading, to jointly promote the development of the company's international energy business. Al-Qimmah is fully owned and controlled by a Saudi prince and serves as the company's chairman. The board of directors believes that this cooperation will bring significant growth in scale, sustainability, and recurring trade business to the company, and will significantly enhance the group's after-tax profit level.