On June 28th, China National Petroleum Chemical (03983.HK) issued an announcement about the potential sale of its stake in Dayukou in Hubei Province. The company sold its target stake in Dayukou in Hubei Province on June 27, 2022 in Beijiao. The company is a state-controlled listed company, and in accordance with the requirements of the applicable Chinese laws and regulations on the sale of state-owned property rights, the sale of its state-owned assets shall be carried out publicly in the property rights trading institution established in accordance with the applicable Chinese laws and regulations. According to the rules of the Beijing Stock Exchange, the company and the ultimate assignee must enter into a property rights transaction contract. The initial reserve price is about 1.745 billion yuan.