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China Petroleum & Chemical ( (HK:0386) ) just unveiled an update.
China Petroleum & Chemical Corporation has updated and formally adopted new terms of reference for its Board Audit Committee, setting out its composition, qualifications and working procedures in line with China’s Company Law, the Code of Corporate Governance for Listed Companies and the regulatory rules of the markets where its shares are listed. The revised framework requires the committee to consist entirely of non-executive directors, with a majority being independent directors, mandates an independent director with accounting or financial expertise as chairman, and imposes detailed competency, integrity and confidentiality standards on members, including a two-year cooling-off period for former partners of the company’s external auditor. These changes underscore Sinopec’s efforts to strengthen board-level oversight of financial reporting and internal controls, enhance compliance with multi-jurisdictional governance requirements, and reinforce protection of shareholder interests by tightening independence and professional standards for audit committee members.
The most recent analyst rating on (HK:0386) stock is a Sell with a HK$4.03 price target. To see the full list of analyst forecasts on China Petroleum & Chemical stock, see the HK:0386 Stock Forecast page.
More about China Petroleum & Chemical
China Petroleum & Chemical Corporation, commonly known as Sinopec, operates in the energy and petrochemicals industry, with core businesses spanning oil and gas exploration and production, refining, marketing and distribution of petroleum products, and the manufacture of petrochemical and chemical products. The company is listed in multiple markets and is subject to both domestic Chinese and overseas securities regulatory regimes, which shape its corporate governance and compliance structures.
Average Trading Volume: 146,268,523
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$772.7B
Learn more about 0386 stock on TipRanks’ Stock Analysis page.