SINOPEC CORP (00386): Controlling shareholder China Petroleum & Chemical Corporation's plan to increase its stake in the company has been successfully implemented.

SINOPEC CORP (00386) announced that on November 11, 2024, the company received a notice from its controlling shareholder, Petrochina Chemical Group Limited (China Petroleum & Chemical Corporation Group). As of November 10, 2024, China Petroleum & Chemical Corporation Group had completed its plan to increase its holdings of the company's A shares and H shares through its own and its wholly-owned subsidiary companies. According to the voluntary announcement disclosed by the company on November 10, 2023, based on confidence in the company's future prospects, China Petroleum & Chemical Corporation Group planned to increase its holdings of the company's A shares and H shares through its own and its wholly-owned subsidiary companies within 12 months starting from November 11, 2023. The planned cumulative amount of the increase was not less than RMB 1 billion (including the principal amount) and not more than RMB 2 billion (including the principal amount). Apart from this planned increase, China Petroleum & Chemical Corporation Group had not disclosed any other increase plans in the twelve months prior to this announcement. Prior to the implementation of this increase, China Petroleum & Chemical Corporation Group directly and indirectly held 813.40 billion shares of the company (including 805.72 billion A shares and 7.679 billion H shares), accounting for approximately 66.84% of the company's total issued share capital (calculated as of the date of this announcement). As of the date of this announcement, China Petroleum & Chemical Corporation Group and its wholly-owned subsidiary companies had cumulatively increased their holdings by 374 million shares, accounting for approximately 0.31% of the company's total issued share capital, with a cumulative increase amount of RMB 1.602 billion (excluding taxes and fees). After the completion of this increase, China Petroleum & Chemical Corporation Group directly and indirectly held 841.05 billion shares of the company (including 830.62 billion A shares and 10.43 billion H shares, including 23.90 billion A shares subscribed by China Petroleum & Chemical Corporation Group in March 2024), accounting for approximately 69.11% of the company's total issued share capital. During the implementation of this increase, China Petroleum & Chemical Corporation Group and its wholly-owned subsidiary companies did not reduce their holdings of the company's shares.