Sinopec: Shareholder boosts stake, new buyback program announced

China Petroleum & Chemical Corporation announced today that its controlling shareholder, China Petrochemical Group Co., Ltd., and its persons acting in concert have increased their stake in the company. The current increase period, from April 9, 2025, to November 21, 2025, saw a cumulative acquisition of 371,659,179 shares. This included 34,559,179 A shares via the Shanghai Stock Exchange and 337,100,000 H shares via the Hong Kong Stock Exchange. The total value of these latest acquisitions is approximately RMB 194.10 million for A shares and HK$1,375.52 million for H shares.

Since the initial disclosure of the plan on April 8, 2025, the cumulative shares acquired stand at 389,502,679, consisting of 52,402,679 A shares and 337,100,000 H shares. This represents a cumulative increase of 0.04% in A shares and 0.28% in H shares relative to the total share capital. The total amount spent is approximately RMB 294.10 million for A shares and HK$1,375.52 million for H shares.

The company's controlling shareholder and its persons acting in concert plan to continue increasing their shareholding, utilizing their own funds and specific loan facilities for stock purchases. The current increase plan is halfway through, and the actual increase amount has not yet reached the halfway point or the lower limit of the range.