Sinopec and others establish new energy company, including car business.

According to the Enterprise Check APP, Yangjiang Jiaotou Petrochemical Energy Co., Ltd. was recently established with a registered capital of 20 million yuan. Its business scope includes: automobile sales; retail of automobile spare parts; retail of motorcycles and spare parts; furniture sales, etc. Equity penetration of Enterprise Check shows that the company is jointly held by China Petrochemical Corporation's China Petrochemical Sales Co., Ltd. and others.