China Petroleum & Chemical Boosts Shareholding Confidence

China Petroleum & Chemical (HK:0386) has released an update.

China Petroleum & Chemical Corporation’s controlling shareholder, China Petrochemical Corporation, has successfully increased its shareholding by approximately 0.31%, investing over RMB 1.6 billion. This move reflects confidence in the company’s growth prospects, as the shareholder now holds about 69.11% of the total issued shares. The strategic share acquisition underscores a bullish outlook on the company’s future performance.

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