Flash | 08 Jan 2026 12:40:03 ET │ 12 pages Sinopec (0386.HK) Group Restructuring: Potential LT Synergy Benefits, But Limited Near- Term Impact CITI'S TAKE SASAC announced on 8 Jan that Sinopec Group (386.HK's parent) will undergo restructuring with China National Aviation Fuel (CNAF) Group. We expect this could strengthen Sinopec's refining & marketing business for jet fuel & SAF and mitigate structural PRC gasoline / diesel demand decline. Sinopec's 9M25 refinery jet/kero yield was 13.8% (vs. >20% for TOP/ ...