Sinopec Shanghai Petrochemical Dilutes Carbon Fiber Unit Stake to 50% in RMB600 Million Capital Raise

Sinopec Shanghai Petrochemical Company Limited has signed a capital increase agreement to bring in new investors to its wholly owned subsidiary, Inner Mongolia New Jinshan Carbon Fiber Co., Ltd., resulting in a deemed disposal and dilution of its stake from 100% to 50%. Under the agreement dated 28 February 2026, China Petroleum & Chemical Corporation (Sinopec Corp.), the company’s controlling shareholder, will subscribe RMB300 million of newly issued registered capital for a total consideration of RMB600,005,622.10, taking a 25% equity interest after completion; RMB300 million will be credited to registered capital and the balance to capital reserve. Other strategic investors will subscribe the remaining RMB300 million of the capital increase, and the subsidiary’s registered capital will rise from RMB600 million to RMB1.2 billion. Sinopec Corp. is to remit its investment within 10 working days after the agreement becomes effective and closing conditions are satisfied.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Sinopec Shanghai Petrochemical Company Limited published the original content used to generate this news brief via IIS, the Issuer Information Service operated by the Hong Kong Stock Exchange (HKex) (Ref. ID: HKEX-EPS-20260301-12033074), on March 01, 2026, and is solely responsible for the information contained therein.