Shang Hai Zheng Quan Bao·2025-12-29 18:36Core Viewpoint - China National Petroleum Corporation (CNPC) has initiated a share buyback plan for its subsidiary, China Petroleum & Chemical Corporation (Sinopec), with a total investment range of RMB 28 billion to RMB 56 billion over a 12-month period starting from April 8, 2025 [2]. Group 1: Buyback Plan Details - The buyback plan was first disclosed on April 8, 2025, with CNPC intending to purchase shares through itself and its wholly-owned subsidiaries on both the Shanghai Stock Exchange and the Hong Kong Stock Exchange [2]. - As of December 29, 2025, CNPC has acquired a total of 30 million A-shares, representing approximately 0.02% of the total issued shares, and its subsidiary, Fairy King Investments Ltd., has purchased 11.896 million H-shares, accounting for about 0.01% of the total issued shares [2]. Group 2: Implementation Progress - The buyback plan is currently in progress, with CNPC and its subsidiaries expected to continue purchasing shares as per the outlined strategy [7]. - The plan has not yet reached the lower limit of 50% of the intended buyback volume, indicating that the actual number of shares repurchased is below expectations [6].