Sinopec Corp. (00386) plans to spend 500 million to 1 billion yuan to repurchase A-shares.

Intelligence Finance APP news, China Petroleum and Chemical Corporation (00386) announced that, in order to maintain the company's value and shareholder rights, the company plans to use no less than RMB 500 million and no more than RMB 1 billion of its own funds and special repurchase loans to repurchase the company's issued renminbi ordinary shares (A shares) through the Shanghai Stock Exchange system through centralized competitive bidding trading method, with a repurchase price limit not exceeding RMB 8.72 per share (including RMB 8.72 per share).