Sinopec shareholders approve bylaw changes, elect new director amidst buyback

China Petroleum & Chemical Corporation (Sinopec) shareholders approved changes to the company's articles of association and governance structure at its Second Extraordinary General Meeting held on December 18, 2025. Resolution No. 1, concerning amendments to the articles of association and the cancellation of the supervisory committee, passed with 94.6830% of total votes in favor. Concurrently, shareholders elected Mr. Li Wei as an independent non-executive director, with 99.9324% of total votes in favor.

The company also disclosed ongoing share repurchases, with a total of 254,000 H shares repurchased on December 18, 2025, at prices ranging from HK$4.44 to HK$4.59 per share, totaling HK$1,163,751.8. This repurchase is part of a larger program, which has seen 230,374,000 H shares repurchased on the Exchange under a mandate approved on May 28, 2025, authorizing the repurchase of up to 2,404,929,260 shares.

Sinopec confirmed that 89,349,476 A shares were repurchased between August 22 and November 20, 2025, and subsequently cancelled on November 24, 2025. The total number of issued H shares remains at 23,945,350,600 as of December 18, 2025.