A few days ago, the much-anticipated capital increase of Kyushu Securities finally surfaced, Sinopec increased its capital by 370 million shares to become the second largest shareholder with a 10.98% stake.

On January 16, at a working meeting held by Sinopec Group, Wang Yupu, chairman of Sinopec Group and secretary of the party group, said in his speech that the group should vigorously cultivate new growth points in international trade, non-oil business, coal chemical industry, financial business and other new growth points, and continuously improve the level of efficiency generation.

Sinopec invests in brokerage, oil companies favor finance?

January 17, Qinghai Securities Regulatory Bureau issued "on the approval of the approval of the change of registered capital of the Kyushu Securities Company Limited", the approval shows that the approval of the Kyushu Securities to change the registered capital, the registered capital from 3 billion yuan to 3.37 billion yuan. The change of registered capital of jiuzhou securities, holding more than 5% of the equity shareholders of jiuzhou securities only Sinopec Group, holding 370 million shares, a total of 10.98%.

For the price of the shares, according to China Securities Network and other media reports, Sinopec Group this 407 million yuan to purchase 370 million shares of Kyushu Securities, the purchase price of 1.1 yuan / share, and the proportion of 10.98% of the shareholding, according to this estimation, Kyushu Securities is currently valued at about 3.7 billion yuan.

The hundreds of millions of dollars of investment, for Sinopec Group is obviously not a big deal. 2013-2015, the amount of money funds in the book of PetroChina Group were 52.997 billion yuan, 35.219 billion yuan, 94.232 billion yuan. And this is not the first time Sinopec Group invested in the financial sector, it has also long invested in the layout of insurance, banking and other fields.

From the financial business point of view, this time the Kyushu Securities is only one of the financial chess game of Sinopec Group. Sinopec's tentacles have entered all corners of the financial industry, covering insurance, investment, electronic payment, trust and wealth management.

What else does Sinopec do besides selling oil?

In recent years, Sinopec's main business has been contracting year by year in terms of revenue. in 2015, affected by the decline in crude oil prices, the gross margins of the oil and gas extraction business and the petroleum and petrochemical engineering business accounted for a decrease of 28.54 and 1.97 percentage points, respectively, compared with 2014.

Sinopec Group's Sinopec Group International Travel Agency (Limited Liability Company) was established in 2000, with business covering domestic and overseas travel, and train and airplane ticket sales; its Sinopec Baichuan Economic and Trade Company has business ranging from accommodation, swimming, karaoke to catering and property.