Sinopec Tightens Board Governance With New Nomination Committee Charter

An update from China Petroleum & Chemical ( (HK:0386) ) is now available.

China Petroleum & Chemical Corporation has formally adopted updated terms of reference for the nomination committee under its board of directors, aligning the committee’s composition and responsibilities with China’s Company Law, the national corporate governance code for listed companies, and the securities rules of the exchanges where it is listed. The new framework stipulates that independent directors must form a majority of the nomination committee, that its chair must be an independent director designated by the board, and that committee members are appointed through a defined nomination process and serve concurrent terms with their directorships, with mechanisms to fill vacancies and appoint consulting members, underscoring the company’s emphasis on strengthened board oversight and more regulated governance procedures.

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, is a major integrated energy and chemical company engaged in petroleum and petrochemical exploration, refining, production and related services. Its shares are listed in multiple markets and it operates under the corporate governance frameworks and securities regulatory rules applicable to listed companies in the PRC and the jurisdictions where its shares trade.

Average Trading Volume: 146,268,523

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$772.7B

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