Summary by Moomoo AI
CHINA PETROCHEMICAL CO., LTD. (HEREINAFTER REFERRED TO AS “CHINESE PETROLEUM”) ANNOUNCED ON JANUARY 2, 2024 THAT THE COMPANY AND ITS ASSET COMPANIES HAVE COMPLETED THE CAPITAL INCREASE PLAN FOR HUNAN PETROLEUM UNDER THE CAPITAL INCREASE AGREEMENT PREVIOUSLY ANNOUNCED ON OCTOBER 26, 2023. The capital raising operation involves the disposal of assets and has transferred all relevant rights, obligations, responsibilities and risks to Hunan Petrochemical. The completion of this transaction marks further investment and support by Sinhalese towards Hunan Petrochemicals.