On June 28^th, the Strategic Business Unit of Capital Management and Financial Services of Sinopec Group was established. General Manager Dai Houliang attended and addressed the ceremony.

Dai Houliang stressed that the establishment of the unit is of great significance for rationalizing management relations, promoting transformation and development, and building a world-leading enterprise. Adhering to the goal of building a modern industrial system, we need to promote the integration of industry and finance as well as strengthen risk prevention and control, in order to support and lead the transformation and development of the company’s main businesses. As for the next step, Dai Houliang emphasized that we should (1) continue advancing various tasks in a steady manner to ensure smooth work, and properly handle the relationship between reform, development, and stability; (2) uphold innovation and reform, and stimulate entrepreneurship, innovation, and vitality; (3) pursue robust risk management and control and professional development, and establish a sound system for risk management and control; (4) stick to clearly-defined responsibilities and efficient operation, properly handle the relationship with relevant functional departments and various sectors and enterprises, and clarify their responsibilities.

Huang Wensheng, head of the Capital and Financial Division, attended the ceremony.

On July 10^th, Sinopec Capital was registered and established in the Xiongan New Area with a registered capital of 10 billion yuan, to which Sinopec Group and Sinopec Corp. contributed 51% and 49% respectively. Sinopec Capital conducts investment businesses in strategic emerging industries such as new energy, new materials, energy conservation and environmental protection, high-end intelligent manufacturing, big data, and artificial intelligence to create new momentum and growth opportunities for Sinopec Group.