Class A share first order increase loan Sinopec: Controlling shareholder receives 700 million yuan credit for increase plan

On October 20th, Sinopec announced that Sinopec Group, the controlling shareholder of the company, signed a credit agreement with the Bank of China joint stock company to obtain a credit line of 700 million yuan. The special project is used for Sinopec Group to increase its holdings of Sinopec's class A shares through centralized bidding transactions in this round of holdings and the future new phase of holdings. Correspondingly, the source of funds for this round of holdings of class A shares will be changed from "the equity fund of Sinopec Group and its wholly-owned subsidiaries" to "the equity fund of Sinopec Group and its wholly-owned subsidiaries and the loans of Financial Institution Group". Sinopec Group expects to increase its holdings of the company's class A shares by no less than the credit line it has obtained in the current round of holdings and the future new phase of the holdings plan.