The predecessor of China Petroleum&Chemical Corporation (hereinafter referred to as the Company) was China Petroleum&Chemical Corporation, established in July 1983. In July 1998, in accordance with the deployment of the Central Committee of the Communist Party of China on implementing strategic restructuring of the petroleum and petrochemical industry, China Petroleum and Chemical Corporation was reorganized and established on the basis of the original China Petroleum and Chemical Corporation. In August 2018, it was restructured into China Petroleum and Chemical Corporation Limited through a company system. The company is a super large energy and chemical group company that integrates upstream and downstream, production, supply and marketing, and domestic and foreign trade. Its registered capital is 326.5 billion yuan, and the chairman is the legal representative. Its headquarters is located in Beijing. The company exercises the rights of asset beneficiaries, major decisions, and the selection of managers in relation to state-owned assets of its wholly-owned, controlling, and participating enterprises. It operates, manages, and supervises state-owned assets in accordance with the law and assumes corresponding responsibilities for preserving and increasing their value.