Can anyone tell me what the privatization of Sinopec is going on?

When it comes to privatization, everyone will think of public ownership. This privatization is not privatization in the ordinary sense. It is when the controlling shareholder of a listed company buys back all the shares held by small shareholders, takes them as his own, and delists the company. This is called privatization. This year, Sinopec privatized four companies, Yangzi Petrochemical, Qilu Petrochemical, Zhongyuan Petrochemical and Petroleum Daming. The current privatization is caused by share reform. If a listed company wants to have share reform, under normal circumstances, the major shareholders will usually give shares to shareholders of tradable shares. Generally, it is three out of ten. Someone calculated it for Sinopec. If Sinopec gives away three out of ten, its net assets will lose 6%-7%. The company's total assets are relatively good, and major shareholders are unwilling to give away shares to tradable shares. Moreover, the major shareholders are listed in China, Hong Kong, New York, and London. The major shareholders are unwilling or agree to give these things to the shareholders of tradable shares, because when Sinopec was listed, it promised to gradually repurchase the listed companies listed on the A-share market. , which promotes its privatization as soon as possible, which is the reason for the repurchase of Sinopec.