Summary by Futu AI
CHINA PETROLEUM ANNOUNCED ON 28 APRIL 2024 THAT IT HAD USED RMB 1,215,422,591.73 TO REPLACE PRE-INVESTED SELF-FINANCING FUNDS. The funds are mainly used for the Phase 3 project of Tianjin LNG project, the completion of the hydrogen purification facility of Yanshan Branch, the oil transformation upgrade of Maoming Branch and vinyl conversion projects, etc. According to the China Securities and Exchange Commission, the company issued RMB Ordinary Shares (A shares) of 2,390,438,247 shares to China Petrochemical Group Co., Ltd., for a total fundraising amount of $11,999,999,999.94. Once the funds have been raised, the company will by law invest the funds first and replace them after the fundraising is in place. The Bureau of Chartered Accountants (Special General Partnership) audited this and produced a verification report. After a careful review, Adviser VOA Securities Co., Ltd. has verified that the use of this fundraising is in accordance with legal and regulatory requirements, without changing the purpose of the raising and harming the interests of shareholders.