Sinopec Refining & Chemical Engineering (02386) plans to repurchase H shares

Zhitong Finance App News, Sinopec Refining & Chemical Engineering (02386) issued an announcement. On June 5, 2026, the company held the 2025 annual shareholders' meeting, the 2026 first domestic shareholders' meeting, and the 2026 first H share shareholders' meeting to grant the company's board of directors (board of directors) a general authorization (repurchase authorization) to buy back the company's H shares. The board of directors decided that the repurchase should not exceed 10% of the total face value of the H shares issued on the day the relevant resolution of the company was passed.

The 14th meeting of the 5th board of directors of the Company held on August 14, 2026 reviewed and approved the “Proposal on the 2026-2027 Stock Repurchase Implementation Plan” (related implementation plan). According to the repurchase authorization and related implementation plan, within 6 months from the date of this announcement (repurchase period), the Company will repurchase H shares with its own funds in the open market at an appropriate time (repurchase of H shares). The total amount of H shares to be repurchased is not less than HK$100 million and no more than HK$150 million. According to the Hong Kong Stock Exchange Limited Securities Listing Rules, the actual repurchase price of each H share shall not be 5% or more higher than the average closing price of H shares on the five trading days immediately preceding each repurchase. If trading of the company's shares is continuously suspended during the repurchase period due to important planning matters, the company will postpone implementation of the repurchase plan after the stock is resumed and during the repurchase authorization period.