On February 2, 2020, KLOC-0, China Petrochemical Group announced its reorganization and name change on the website of Shanghai Clearing House. According to the announcement, with the approval of the State-owned Assets Supervision and Administration Commission of the State Council, China Petrochemical Group was transformed from an enterprise owned by the whole people into a wholly state-owned company. The industrial and commercial registration procedures for this change have been completed and a new business license has been obtained.