China Southern Petroleum announced that the company plans to acquire 100% of the shares of Nanjing Changjiang Oil Transport Logistics Co., Ltd. held by the related party Nanjing Changjiang Oil Transportation Co., Ltd. in cash, with transaction consideration of 684 million yuan. Using March 31, 2026 as the evaluation reference date, the total consolidated assets of CNPC Logistics were 974 million yuan and total liabilities of 444 million yuan. The profit and loss during the transition period were attributed to Nanjing Company. The transaction will help integrate liquid cargo transportation resources, develop business synergies, reduce operating costs, and will not have a significant adverse impact on the company's daily operations and solvency.

China Southern Petroleum announced that the company plans to acquire 100% of the shares of Nanjing Changjiang Oil Transport Logistics Co., Ltd. held by the related party Nanjing Changjiang Oil Transportation Co., Ltd. in cash, with transaction consideration of 684 million yuan. Using March 31, 2026 as the evaluation reference date, the total consolidated assets of CNPC Logistics were 974 million yuan and total liabilities of 444 million yuan. The profit and loss during the transition period were attributed to Nanjing Company. The transaction will help integrate liquid cargo transportation resources, develop business synergies, reduce operating costs, and will not have a significant adverse impact on the company's daily operations and solvency.