What is the merger of the acquisition of Sinopec assets by the national pipeline network?

Absorption and merger. National Oil and Gas Pipeline Group Co., Ltd. acquired the related assets of the three major oil companies and their subordinate oil and gas pipelines in the form of equity and cash, which belongs to absorption and merger. Absorption and merger refers to the merger of two or more enterprises into one enterprise. After the merger, the acquired enterprise obtains the assets and liabilities of another enterprise or enterprises by paying cash, issuing stocks or other costs, and continues to retain its legal person status, while the other enterprise or enterprises lose their independent legal person status after the merger.