The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of WARNING Yuwang BioNutrition Limited 禹王生物營養有限公司 (the "Company") (Incorporated in the Cayman Islands with limited lia ...

Core Insights - Iran has discovered significant oil and gas reserves in the Pazan field, which is expected to alleviate the country's energy challenges [1][2] - The new reserves include at least 200 million barrels of crude oil and an estimated ten trillion cubic feet of gas, with a projected 70% recovery rate for gas [1][2] - The exploration activities resumed after an eight-year pause, with extraction expected to begin in 40 months [2] Industry Context - Iran is currently the world's third-largest gas producer and holds the second-largest gas reserves [3] - The country's gas consumption is reported to be twice that of the European Union, leading to energy shortages and frequent outages [3] - Sanctions have hindered Iran's ability to import and upgrade its aging energy infrastructure, impacting the extraction of existing reserves [4] Impact of Sanctions - The reinstated sanctions have restricted oil, gas, and petrochemical exports, isolating Iran's energy sector and limiting foreign investment [5] - The Iranian Offshore Oil Company has signed agreements to acquire advanced offshore drilling rigs to boost production, with approvals from the National Iranian Oil Company [5]

Geopolitical Impact - Russian President Vladimir Putin signed an order to expedite the sale of state-owned assets [1] - The action is a response to international sanctions [1]

Core Insights - Turkish Airlines has finalized a deal with Boeing for up to 225 aircraft, including 150 confirmed orders and options for 75 more, to be delivered between 2029 and 2034 [3][4] - The deal follows a significant meeting between Turkish President Erdogan and US President Trump, which has raised expectations for the lifting of US sanctions on Turkey [3][9] - Turkish Airlines aims to transition its fleet to next-generation aircraft by 2035, supporting an average annual growth rate of 6% [5] Company Developments - The confirmed orders include 50 Boeing 787 Dreamliners with an option for 25 more, and 100 Boeing 737 MAX jets with an option for 50 more [5] - Turkish Airlines is also negotiating with Rolls-Royce and GE Aerospace for engines and maintenance services for the Dreamliners [5] - This Boeing deal follows a previous announcement by Turkish Airlines in December 2023 regarding a 355-plane order from Airbus [6] Industry Context - The deal comes amid ongoing geopolitical tensions, particularly regarding Turkey's purchase of the Russian S-400 missile defense system, which led to US sanctions [4][8] - Turkey is a significant trading partner for Russia, with $52 billion in exchanges last year, primarily in fossil fuels and electronics [10] - The US has been pressuring Turkey to cease its oil purchases from Russia as part of broader sanctions against Moscow [9][10]