China Petroleum & Chemical Corporation (00857) subsidiary intends to acquire all the equity of Xinjiang Gas Storage Depot, Xiangguosi Gas Storage Depot, and Liaohe Gas Storage Depot.

Intelligence Finance APP News, China Petroleum Co., Ltd. (00857) announced that the board of directors has approved the acquisition of the target companies (Xinjiang Gas Storage, Xiangguo Temple Gas Storage, and Liaoning Gas Storage) by the transferee (PetroChina Xinjiang Gas Storage, PetroChina Xiangguo Temple Gas Storage, and PetroChina Liaoning Gas Storage) (these are the non-wholly owned subsidiaries of the Company). The transferee and transferor signed purchase agreements respectively on December 4, 2025. After the completion of the acquisition, the target companies will become the Company's indirect non-wholly owned subsidiaries, and their financial performance will be consolidated into the Company's financial statements.