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Oriental Shenghong: The company currently has sufficient crude oil reserves
An investor asked Oriental Shenghong (000301.SZ), “Oil prices have more than doubled in just a few days. How is the company responding to the surge in raw material prices? Can the company’s product prices increase as much as raw materials?”
On March 10, the company responded, “We will flexibly develop and adjust our crude oil procurement strategies based on the crude oil market situation, production and operation plans, and downstream demand to ensure stable crude oil supply. Currently, the company has sufficient crude oil reserves. Recently, product prices have experienced significant fluctuations. We will adjust our product selling prices and strategies in a timely manner according to market conditions.”