Shandong Shengli (000407.SZ) plans to purchase several subsidiary companies' equity holdings held by CHINA OIL & GAS (00603).

CHINA OIL & GAS (00603) has announced that on October 27, 2025, CHINA OIL & GAS Investment Group Limited (PetroChina Investment), Tianda Litong New Energy (Zhuhai) Co., Ltd. (Tianda Litong), PetroChina Sino-Thai Gas Investment Group Co., Ltd. (PetroChina Sino-Thai), and Shandong Shengli Limited (Shandong Shengli) have entered into a letter of intent agreement for the issuance of shares and cash payment to purchase assets. According to this agreement, Shandong Shengli intends to purchase the equity of several subsidiary companies held by the group through the issuance of shares and cash payment. The proposed transaction includes Shandong Shengli acquiring the following company equities: (1) 100% equity of PetroChina Investment's subsidiary CHINA OIL & GAS (Zhuhai Hengqin) Co., Ltd. (PetroChina Zhuhai); (2) 100% equity of Tianda Litong's subsidiary Tianda Shengtong New Energy (Zhuhai) Co., Ltd. (Tianda Shengtong); (3) 51% equity of PetroChina Sino-Thai's subsidiary Nantong CHINA OIL & GAS Limited Liability Company (Nantong PetroChina); (4) 40% equity of PetroChina Sino-Thai's subsidiary Qinghai PetroChina Ganhe Industrial Park Gas Co., Ltd. (Ganhe PetroChina). Shandong Shengli is a publicly listed company in China, with its shares listed and traded on the main board of the Shenzhen Stock Exchange (Stock code: 000407). The group holds approximately 22.16% of its issued shares.