CNOOC Capital Unit to Buy YD Futures for 1.129 Billion Yuan

China Petroleum Capital's wholly owned subsidiary, China Petroleum Capital Co. Ltd., plans to acquire 100% of YD Futures for 1.129 billion yuan, according to Jiemian News. On July 21, CNOOC Capital disclosed progress on the deal, which also includes a separate equity transfer arrangement involving its parent PetroChina Group and State Grid's Yingda Group. YD Futures was founded in 1996 and became controlled by State Grid after a 2010 equity reorganization. It provides derivatives services for the energy and power supply chains and holds licenses for OTC derivatives and market-making businesses. In the first quarter of 2025, it posted revenue of 19.22 million yuan and a net loss of 10.43 million yuan; for 2024, it reported revenue of 101 million yuan and net profit of 1.23 million yuan. Under the broader transaction, PetroChina Group planned to transfer its 379 million A shares in China Petroleum Capital, or 3.00% of the company's total share capital, to State Grid Yingda Group through a state-owned share transfer. The transfer registration was completed on June 15, 2026. Jiemian News reported that the deal reflects a push by China's futures industry toward consolidation, as firms seek internal hedging channels, higher registered capital, and more integrated risk management.