Zhitong Finance App News, CNPC (00632) announced that on October 20, 2026, the company entered into a framework agreement with (i) Hangzhou Domei Holdings Co., Ltd., (ii) Hangzhou Domei Enterprise Management Consulting Partnership (limited partnership) (collectively referred to as the “seller”), (iii) Zhejiang Dumei Electric Technology Co., Ltd. (target company), and (iv) Liaoning Port Oil Technology Co., Ltd. (an indirect wholly-owned subsidiary of the company) to acquire all of the shares of the target company at a proposed cost of 15 million yuan.

As of the date of this announcement, the target company is mainly engaged in the manufacture and sale of intelligent oil and gas extraction equipment.

The Board believes that the proposed acquisition will benefit the Group's long-term expansion and development. By using the professional capabilities of target companies, the Group can adopt advanced mining technology to improve production capacity and operational efficiency, while ensuring that equipment supply meets operating needs, optimizes production costs, and maintains strict quality standards. If implemented, the proposed acquisition will enable the Group to diversify revenue sources and achieve sustainable business growth, which is in line with the overall interests of the company and its shareholders.

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