Investment Rating - The report maintains a "Buy" rating for the carbon fiber industry, indicating a positive outlook for investment opportunities in this sector [5]. Core Insights - The demand for carbon fiber is continuously improving, with significant growth in sectors such as wind energy, sports leisure, and aerospace. The global demand for carbon fiber is projected to reach 156,100 tons in 2024, representing a year-on-year increase of 35.7% [2]. - Jilin Chemical Fiber has raised prices for its carbon fiber products, with 3K/6K products increasing by 5,000 CNY/ton and other grades by 3,000 CNY/ton. The average profit margin in the carbon fiber industry has improved, with an average gross profit of -870 CNY/ton as of May 15, 2025, an increase of 1,210 CNY/ton since the beginning of the year [1][2]. - The report suggests that leading manufacturers with scale and cost advantages will benefit from the stabilization of carbon fiber prices and the recovery of end-user demand in low-altitude economy and aerospace sectors [2]. Summary by Sections Carbon Fiber Demand - The wind energy sector's demand for carbon fiber is expected to reach 44,000 tons in 2024, a 120% increase year-on-year, accounting for 28.2% of total downstream demand. The sports leisure sector will demand 28,500 tons, up 51.6%, while aerospace and military applications will require 26,400 tons, a 20% increase [2]. - In China, the total demand for carbon fiber is projected to be 84,000 tons in 2024, with domestic production increasing by 27.6% to 67,600 tons [2]. Equipment Manufacturers - Domestic equipment manufacturers, such as Jinggong Technology, are expected to benefit from the rising demand for carbon fiber production equipment due to the complex manufacturing processes and the need for supply chain security [3]. - Jinggong Technology is noted as the only domestic supplier with over 50% market share in complete carbon fiber production line equipment [3]. Investment Recommendations - The report recommends focusing on companies in the carbon fiber sector, including Jilin Chemical Fiber, Jilin Carbon Valley, Zhongfu Shenying, Shanghai Petrochemical, and Zhongjian Technology, as they are well-positioned to capitalize on the market trends [2]. - Additionally, it highlights the potential of the oil service sector and domestic material companies benefiting from the trend of domestic substitution [4].

EE305 Next Day Disclosure Return (Equity issuer - changes in issued shares or treasury shares, share buybacks andlor on-market sales of treasury shares) Instrument: Equity issuer Status: New Submission Name of Issuer: Sinopec Shanqhai Petrochemical Company Limited 16 May 2025 Date Submitted: Section I must be completed by a listed issuer where has been a charge in its issued shares or teasury shares which is disoloseable pursuant to rule 13.25A of the Rules Gov .i.sting of Securities on The Stock Exchange o ...

Summary of Key Points Core Viewpoint - On May 13, 39 Hong Kong-listed companies conducted share buybacks, totaling 24.76 million shares and an amount of 321 million HKD [1][2]. Group 1: Share Buyback Details - AIA Group repurchased 3.72 million shares for 231.19 million HKD, with a highest price of 63.20 HKD and a lowest price of 61.75 HKD, accumulating a total buyback amount of 8.44 billion HKD for the year [1][2]. - Times Electric repurchased 750,700 shares for 24.87 million HKD, with a highest price of 33.20 HKD and a lowest price of 32.85 HKD, totaling 1.23 billion HKD in buybacks for the year [1][2]. - Swire Pacific A repurchased 300,000 shares for 20.97 million HKD, with a highest price of 70.00 HKD and a lowest price of 69.60 HKD, accumulating 1.66 billion HKD in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on May 13 was from AIA Group at 231.19 million HKD, followed by Times Electric at 24.87 million HKD [1][2]. - In terms of share quantity, the largest buyback was from COSCO Shipping Development with 5 million shares, followed by Ying Group and AIA Group with 4 million shares and 3.72 million shares respectively [1][2].

Group 1 - The article reports on share buybacks conducted by various companies on May 12, 2025, with AIA Group (01299) having the largest buyback amount of 1.25 billion, purchasing 2 million shares [1][2] - Other notable buybacks include China COSCO Shipping Holdings (01919) with 4.21 million shares bought back for 53.77 million, and Times Electric (03898) with 1.43 million shares for 47.22 million [2][3] - The total number of shares repurchased by AIA Group in the year reached 5.93 billion, accounting for 5.276% of its total share capital [2] Group 2 - China Hongqiao Group (01378) repurchased 1.13 million shares for 15.96 million, representing only 0.380% of its total share capital [2] - Swire Properties (00019) bought back 181,000 shares for 12.67 million, with a total annual repurchase of 5.56 million shares, which is 6.652% of its total [2] - The buyback activity reflects a trend among companies to utilize excess cash for share repurchases, potentially signaling confidence in their financial health [1][2]

证券时报·数据宝统计，上海石油化工股份在港交所公告显示，5月7日以每股1.180港元至1.200港元的价 格回购315.60万股，回购金额达378.53万港元。该股当日收盘价1.200港元，上涨1.69%，全天成交额 3028.29万港元。 自4月24日以来公司已连续8日进行回购，合计回购1884.40万股，累计回购金额2199.13万港元。 其间该 股累计下跌0.83%。 今年以来该股累计进行30次回购，合计回购5982.00万股，累计回购金额7009.61万港元。（数据宝） 上海石油化工股份回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.05.07 | 315.60 | 1.200 | 1.180 | 378.53 | | 2025.05.06 | 260.00 | 1.180 | 1.170 | 306.20 | | 2025.05.02 | 67.40 | 1.170 | 1.160 | 78.49 | | 2025.04.30 | 204.60 | 1. ...

天眼查资料显示，中国石油化工股份有限公司，成立于2000年，位于北京市，是一家以从事石油、煤炭 及其他燃料加工业为主的企业。企业注册资本12173968.9893万人民币。通过天眼查大数据分析，中国 石油化工股份有限公司共对外投资了256家企业，参与招投标项目5000次，财产线索方面有商标信息45 条，专利信息5000条，此外企业还拥有行政许可39个。 金融界2025年5月1日消息，国家知识产权局信息显示，中国石油化工股份有限公司;中国石化上海石油 化工股份有限公司申请一项名为"一种双环戊二烯单环氧化物制备和分离方法"的专利，公开号 CN119874639A，申请日期为2023年10月。 中国石化上海石油化工股份有限公司，成立于1993年，位于上海市，是一家以从事石油、煤炭及其他燃 料加工业为主的企业。企业注册资本1079928.55万人民币。通过天眼查大数据分析，中国石化上海石油 化工股份有限公司共对外投资了21家企业，参与招投标项目5000次，财产线索方面有商标信息51条，专 利信息1272条，此外企业还拥有行政许可12765个。 专利摘要显示，本发明提供一种制备双环戊二烯单环氧化物的方法，以双环戊二烯为 ...

Group 1 - The article reports on share buybacks conducted by various companies on April 30, 2025, highlighting the total amounts and quantities repurchased [1][2][3] - AIA Group (01299) had the largest buyback amount, repurchasing 3.7736 million shares for a total of 217 million [1][2] - China Merchants Industry Holdings (01919) and China Hongqiao Group (01378) also had significant buybacks, with 12.9715 million shares for 151 million and 4.6665 million shares for approximately 64.83 million respectively [2][3] Group 2 - The cumulative buyback amounts for the year show that AIA Group has repurchased a total of 584 million shares, representing 5.198% of its total share capital [2] - China Merchants Industry Holdings has repurchased 241 million shares, accounting for 7.530% of its total share capital [2] - Other notable companies include Times Electric (03898) with 8.016% of its total shares repurchased and Swire Properties (01972) with 1.530% [2][3] Group 3 - The buyback activities reflect a trend among companies to return capital to shareholders, with varying percentages of total share capital being repurchased across different firms [1][2] - Companies like FOSUN Pharma (02196) and Jitu Express (01519) have lower buyback percentages, at 1.800% and 0.645% respectively, indicating a more conservative approach [2][3] - The data suggests a strategic move by companies to enhance shareholder value amidst market conditions [1][2]

证券时报·数据宝统计，上海石油化工股份在港交所公告显示，4月29日以每股1.150港元至1.160港元的 价格回购282.00万股，回购金额达324.61万港元。该股当日收盘价1.150港元，下跌0.86%，全天成交额 1115.77万港元。 自4月24日以来公司已连续4日进行回购，合计回购1036.80万股，累计回购金额1198.98万港元。 其间该 股累计下跌4.96%。 今年以来该股累计进行26次回购，合计回购5134.40万股，累计回购金额6009.45万港元。（数据宝） 上海石油化工股份回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.04.29 | 282.00 | 1.160 | 1.150 | 324.61 | | 2025.04.28 | 232.40 | 1.170 | 1.150 | 268.40 | | 2025.04.25 | 208.40 | 1.180 | 1.160 | 242.89 | | 2025.04.24 | 314.00 | ...

Financial Performance - The net profit attributable to shareholders for 2024 is RMB 316,500 thousand according to Chinese accounting standards, and RMB 310,980 thousand according to International Financial Reporting Standards[4]. - The company's net sales for 2024 were RMB 74,282.30 million, a decrease of 7.23% compared to RMB 80,077.76 million in 2023[18]. - The pre-tax profit for 2024 was RMB 423.32 million, a significant recovery from a loss of RMB 1,655.41 million in 2023[18]. - The net profit attributable to shareholders for 2024 was RMB 310.98 million, compared to a loss of RMB 1,346.15 million in 2023[18]. - The company reported a basic earnings per share of RMB 0.029 for 2024, recovering from a loss of RMB 0.125 in 2023[18]. - The total revenue for the company was RMB 87.06 billion, a decrease of 6.32% compared to the previous year[64]. - The company's operating profit for 2024 was RMB 0.49 billion, a significant increase of RMB 18.02 billion compared to an operating loss of RMB 1.753 billion in 2023[78]. - The net profit attributable to shareholders of the parent company for 2024 was RMB 316,500 thousand, a turnaround from a loss of RMB 1,405,876 thousand in 2023[91]. - The financial income net amount was RMB 194.56 million in 2024, slightly down from RMB 238.68 million in 2023[74]. Dividends and Shareholder Information - The proposed final dividend for 2024 is RMB 0.02 per share, subject to approval at the annual general meeting[4]. - The final dividend for H-share shareholders is expected to be paid around July 24, 2025, with a record date of July 1, 2025[5]. - The company plans to suspend H-share transfer registration from June 26 to July 1, 2025, to confirm the rights to receive the final dividend[7]. - The total number of ordinary shareholders increased to 86,462 by the end of the reporting period, up from 83,161[42]. - The company plans to cancel 124,058,000 H-shares, reducing the total issued shares to 10,675,227,500[40]. Operational Performance - The company achieved a net cash flow from operating activities of RMB 7,740.45 million in 2024, a significant increase of 859.17% from RMB 806.996 million in 2023[22]. - The net cash flow from operating activities increased significantly to RMB 7.74 billion, a rise of 859.17% compared to RMB 806.996 million in 2023[89]. - The company processed a total of 13.35 million tons of crude oil in 2024, a year-on-year decrease of 5.48%[64]. - The sales volume of refined products was 9,450.52 thousand tons in 2024, down from 9,747.76 thousand tons in 2023, indicating a decrease of about 3.1%[73]. - The company produced over 60 different products, primarily refining and chemical products, with refining products accounting for 66.46% of total sales[31][36]. Risk Management and Compliance - The company has detailed potential risks in the management discussion and analysis section of the board report[9]. - The company emphasizes that forward-looking statements regarding future plans and strategies do not constitute a commitment to investors[8]. - The report indicates no related party transactions among the major shareholders, ensuring compliance with regulations[43]. - The company has improved its governance structure and compliance, achieving a leading position in ESG ratings within the industry[68]. - The company has not faced any major litigation or arbitration matters during the reporting period[177]. Environmental and Safety Initiatives - The company has made significant progress in safety production and environmental protection, with VOCs concentration decreasing by 9.90% to an average of 65.14 micrograms per cubic meter[67]. - The company has maintained a 100% compliance rate for wastewater discharge and hazardous waste disposal in 2024[199]. - The company has been recognized as a "Green Enterprise" by Sinopec for 2022 and continues to uphold environmental management certifications[198]. - The company has successfully created 45 grassroots units for green initiatives, achieving a cultivation rate of 91.80%[198]. Future Plans and Strategic Focus - The company aims to enhance product quality and variety while strengthening new product development and market expansion[18]. - The company plans to continue improving operational efficiency to achieve its goal of becoming a "domestically leading, world-class" energy and chemical company[16]. - The company is focusing on green and low-carbon transformation to promote high-quality development[18]. - The company plans to implement comprehensive safety and environmental responsibility measures to ensure high-quality development[120]. - The company will focus on the development of high-end new materials and renewable energy technologies to transition from fossil fuels to a mixed energy structure[119]. Shareholder Structure and Major Shareholders - The largest shareholder, China Petroleum & Chemical Corporation, holds 5,459,455,000 shares, representing 51.14% of total shares[43]. - The controlling shareholder, China Petroleum & Chemical Corporation, is involved in various sectors including oil, natural gas, and chemical production, with a focus on renewable energy and hydrogen business[47]. - The overall shareholding structure remains stable, with no significant exits among the top ten shareholders[46]. - The company has engaged in related party transactions with Sinopec Group and its affiliates, with a maximum annual transaction limit of RMB 2 billion for financial services from January 1, 2024, to December 31, 2025[182]. Research and Development - Research and development expenses for 2024 were RMB 1.74 billion, a decrease from RMB 1.87 billion in 2023[82]. - The company emphasizes research and development innovation as a key strategy for growth[142]. - The company is focusing on the development of high-end new materials and fine chemicals, with ongoing projects in carbon fiber and thermoplastic composite materials[121].

Core Viewpoint - China Petrochemical Corporation (Sinopec) has officially commenced the construction of a 30,000-ton carbon fiber project in Ordos, Inner Mongolia, which aims to enhance the new materials industry in China [1] Group 1: Project Details - The project will utilize Sinopec's proprietary large tow carbon fiber technology and the abundant green electricity resources in Inner Mongolia [1] - It will consist of 10 energy-efficient production lines, expected to be fully operational by 2027 [1] Group 2: Industry Impact - Once operational, the project will supply large tow carbon fiber materials for sectors such as wind power, energy storage, and low-altitude industries [1] - This initiative is positioned to provide critical material support for the new energy industry, contributing to the upgrade and development of China's new materials sector [1]