Mergers and Acquisitions - Fushun Special Steel plans to absorb and merge its wholly-owned subsidiary Fushun Xinxing Steel Plate Co., Ltd, aiming to optimize management structure, reduce management costs, and improve operational efficiency [1] - Shenghang Co., Ltd. has completed the acquisition of 25.2762% of Shenghang Haoyuan's shares, now holding a total of 78.3316% of the company [2] - Yuanshang Co., Ltd. has completed the industrial and commercial change registration for the acquisition of 60% of Wuhan Hechuan You's shares [3] Earnings Disclosure - Sinopec reported Q1 2025 revenue of 735.36 billion yuan, a decrease of 6.9% year-on-year, with a net profit of 13.26 billion yuan, down 27.6% [4] - Yunnan Baiyao achieved Q1 2025 revenue of 10.841 billion yuan, a year-on-year increase of 0.62%, with a net profit of 1.935 billion yuan, up 13.67% [5] - Haitian Flavor Industry reported Q1 2025 revenue of 8.315 billion yuan, an increase of 8.08%, and a net profit of 2.202 billion yuan, up 14.77% [6] - CICC reported Q1 2025 revenue of 5.721 billion yuan, a significant increase of 47.69%, with a net profit of 2.042 billion yuan, up 64.85% [7] Share Buybacks - China Nuclear Power plans to repurchase shares worth between 300 million and 500 million yuan, with a maximum price of 13.98 yuan per share [8] - Yituo Co., Ltd. intends to repurchase up to 10% of its issued H shares, using self-owned and raised funds [9] - Xingguang Co., Ltd.'s actual controller plans to increase shareholding by no less than 10 million yuan and no more than 20 million yuan within three months starting from April 29, 2025 [10] - Haiou Co., Ltd. plans to repurchase shares worth between 60 million and 120 million yuan, with a maximum price of 17 yuan per share [11] Risk Matters - Lifang Shuke received a notice from the CSRC regarding an investigation into suspected information disclosure violations [12] - Boda Co., Ltd. will implement a delisting risk warning starting April 30 due to negative net profit and revenue below 300 million yuan [13] - Sitong Co., Ltd. will also face a delisting risk warning starting April 30 for similar financial issues [14] - Yuanshang Co., Ltd. will implement a delisting risk warning starting April 30 due to negative financial results [15]

股票代码：600028 股票简称：中国石化 公告编号：2025-18 中国石油化工股份有限公司 第九届董事会第六次会议决议公告 中国石化董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 三、关于投资建设塔河炼化一体化项目的议案。 四、关于向中国石化集团资本有限公司增资的议案。 2025 年 4 月 23 日，独立董事专门会议已审议并一致同意本议案，同意将本议案 提交董事会审议。 详见公司同日披露的《中国石化 H 股公告》。 中国石油化工股份有限公司（简称"中国石化"或"公司"）第九届董事会第六 次会议（简称"会议"）于 2025 年 3 月 31 日发出书面通知，2025 年 4 月 18 日发出 书面材料，2025 年 4 月 28 日以电子通讯方式召开。 应出席会议的董事 12 人，实际出席会议的董事 12 人。会议的召集和召开符合 有关法律和《中国石油化工股份有限公司章程》的规定。会议审议通过了如下事项 及议案： 一、2025 年第一季度报告。 详见公司同日披露的《中国石化 2025 年第一季度报告》。 2025 年 4 月 2 ...

Financial Performance - For the first quarter of 2025, the operating revenue was RMB 735,356 million, a decrease of 6.9% compared to RMB 789,967 million in the same period of 2024[5] - The net profit attributable to shareholders of the parent company was RMB 13,264 million, down 27.6% from RMB 18,316 million year-on-year[5] - The basic earnings per share decreased by 28.8% to RMB 0.109 from RMB 0.153 in the previous year[5] - Net profit for Q1 2025 was RMB 14,506 million, down 32.3% from RMB 21,360 million in Q1 2024[40] - Operating profit for Q1 2025 was RMB 18,543 million, a decline of 32.1% compared to RMB 27,325 million in Q1 2024[40] - The company reported a total comprehensive income of RMB 15,527 million for Q1 2025, compared to RMB 20,552 million in Q1 2024[41] - The company reported a total comprehensive income of RMB 16,316 million for the three months ended March 31, 2025, compared to RMB 21,028 million for the same period in 2024[57] Cash Flow and Assets - The net cash flow from operating activities was RMB 8,138 million, a significant improvement from a cash outflow of RMB 13,755 million in the same period last year[5] - The company's cash and cash equivalents increased to RMB 160.58 billion as of March 31, 2025, compared to RMB 146.80 billion at the end of 2024[33] - The company's cash and cash equivalents rose to RMB 50,829 million, up 69.1% from RMB 30,024 million at the end of 2024[37] - The cash received from tax refunds decreased by 53.5% to RMB 1,164 million, down from RMB 2,503 million in the same period last year[11] - The company's cash and cash equivalents at the end of the first quarter of 2025 stood at RMB 103,341 million, an increase from RMB 110,964 million at the end of the first quarter of 2024[47] Production and Sales - The total oil and gas equivalent production reached 130.97 million barrels, a year-on-year increase of 1.7%, with natural gas production at 3,684.3 billion cubic feet, up 5.1%[19][20] - The company processed 62.13 million tons of crude oil, producing 37.19 million tons of refined products, with a year-on-year increase of 11.3% in chemical light oil production[22][24] - Total refined oil sales volume for Q1 2025 was 55.59 million tons, a decrease of 7.1% compared to Q1 2024[25] - Ethylene production reached 3,861 thousand tons in Q1 2025, representing a year-on-year increase of 17.7%[26] - The exploration and development segment reported external sales of CNY 46,041 million, a decrease of 11.5% from CNY 52,182 million in the previous year[63] - The refining segment's external sales increased to CNY 44,602 million, up 7.0% from CNY 41,422 million year-over-year[63] - The marketing and distribution segment's external sales decreased to CNY 372,249 million, down 8.8% from CNY 408,420 million in the same period last year[63] - The chemical segment reported external sales of CNY 101,094 million, an increase of 2.0% compared to CNY 98,333 million in Q1 2024[63] Expenses and Liabilities - Financial expenses rose by 69.3% to RMB 4,579 million, primarily due to increased foreign currency loan exchange losses[11] - The company incurred a loss of RMB 1.32 billion in the chemical segment during Q1 2025[25] - Total liabilities increased to RMB 703,496 million, up 4.3% from RMB 674,133 million at the end of 2024[38] - Current liabilities totaled RMB 653.47 billion as of March 31, 2025, down from RMB 673.24 billion at the end of 2024[34] Strategic Initiatives - The company increased its focus on integrated operations and regional optimization to enhance market expansion and cost control[18] - The company aims to enhance its product structure and increase the production of high-value products, including special oils and advanced carbon materials[22] - The company is actively expanding its gas station and charging station network, with a significant year-on-year increase of 116% in vehicle LNG retail volume[23] - The company plans to focus on expanding its market presence and enhancing operational efficiency in the upcoming quarters[46] - The company expects to improve operational efficiency and reduce costs in the upcoming quarters to enhance profitability[64] Shareholder Activities - The company repurchased 36,180,000 H shares during the reporting period, continuing its share buyback program[28] - As of April 25, 2025, the controlling shareholder, Sinopec Group, had increased its stake by acquiring 24,727,400 shares[29]

股票代码：600028 股票简称：中国石化 公告编号：2025-19 中国石油化工股份有限公司 对外担保公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 中国石化按其在福建炼化 50%的持股比例为福建炼化在合资协议项下产 生的责任和债务提供履约支持，该等金额不超过相应责任上限。 福建炼化系中国石化持股 50%的并表子公司，不属于本公司在上交所《股 票上市规则》项下规定的关联人。 福建炼化在合资协议项下的不同义务，中国石化按其在福建炼化 50%的 持股比例承担的履约支持责任上限预计分别为：（1）出资义务的上限为 7,200,226,667 元；（2）古雷二期项目开发费用或业主费用的超支部分（如发生） 的上限为 57.6 亿元；（3）如发生购买新加坡阿美股权的事项，上限为 59.3 亿元； （4）其他义务（如项目建设偏离项目范围或适用法律与其他项目标准可能承担 的义务等）的上限为 72 亿元。 截至本公告日，本公司未向福建炼化提供其他担保。 一、释义 本次履约支持不存在反担保。 对外担保逾期的累计数量：无 | ...

Financial Performance - For the first quarter of 2025, the company's operating revenue was RMB 735,356 million, a decrease of 6.9% compared to RMB 789,967 million in the same period of 2024[10]. - The net profit attributable to shareholders of the parent company was RMB 13,264 million, down 27.6% from RMB 18,316 million year-on-year[10]. - The basic earnings per share for the period was RMB 0.109, representing a decline of 28.8% from RMB 0.153 in the previous year[10]. - The company’s operating profit was RMB 20,895 million, reflecting a 23.5% decrease from RMB 27,320 million in the same quarter of 2024[13]. - The net profit attributable to shareholders based on international financial reporting standards was RMB 13,975 million, down 25.4% from RMB 18,721 million year-on-year[13]. - The company reported a total comprehensive income of RMB 2,267 million for Q1 2025, compared to RMB 5,172 million in Q1 2024[48]. - The net profit for Q1 2025 was 14,506 million RMB, down 32.3% from 21,360 million RMB in Q1 2024[45]. - The total operating revenue for Q1 2025 was RMB 735,356 million, a decrease of 6.9% compared to 789,967 million RMB in Q1 2024[58]. - The main business income for Q1 2025 was RMB 719,832 million, down from RMB 773,656 million in the same period last year, representing a decline of 6.9%[58]. - The operating profit for Q1 2025 was RMB 20,895 million, compared to RMB 27,320 million in Q1 2024, reflecting a decrease of 23.5%[58]. - The net profit attributable to shareholders for Q1 2025 was RMB 13,975 million, down 25.4% from RMB 18,721 million in Q1 2024[58]. - The earnings per share for Q1 2025 was RMB 0.115, a decrease from RMB 0.156 in Q1 2024[58]. Assets and Liabilities - The total assets as of March 31, 2025, were RMB 2,123,049 million, an increase of 1.8% from RMB 2,084,771 million at the end of 2024[10]. - The company’s total liabilities increased significantly, with bonds payable rising by 105.7% to RMB 52,579 million due to the issuance of long-term bonds for financing[14]. - Total liabilities increased to 1,132,556 million RMB as of March 31, 2025, compared to 1,108,478 million RMB at the end of 2024, reflecting a growth of 2.2%[40]. - The company's total assets reached 2,123,049 million RMB, an increase of 1.9% from 2,084,771 million RMB[40]. - The total equity attributable to shareholders increased to 834,815 million RMB, up from 819,922 million RMB, marking a growth of 1.1%[40]. - The company's net assets reached RMB 986,360 million, up from RMB 972,147 million, marking an increase of about 1.5%[62]. - The company's long-term debt increased to RMB 217,847 million from RMB 187,202 million, reflecting an increase of approximately 16.4%[62]. Cash Flow and Investments - The net cash flow from operating activities was RMB 8,138 million, a significant improvement from a cash outflow of RMB 13,755 million in the same period last year[10]. - Cash received from tax refunds was RMB 1.164 billion, a decrease of 53.5% compared to RMB 2.503 billion in the previous period[15]. - Cash paid for investments increased by RMB 1.962 billion, reflecting higher capital injections into joint ventures[15]. - The net cash generated from operating activities for the first quarter of 2025 was RMB 8,138 million, a significant improvement compared to a cash outflow of RMB 13,755 million in the same period of 2024[63]. - Investment activities resulted in a net cash outflow of RMB 32,446 million in Q1 2025, compared to RMB 43,082 million in Q1 2024[50]. - Financing activities generated a net cash inflow of RMB 36,121 million in Q1 2025, down from RMB 45,931 million in Q1 2024[51]. - Capital expenditures for Q1 totaled RMB 18.248 billion, with RMB 12.595 billion allocated to exploration and development[33]. - Capital expenditures for the first quarter of 2025 were RMB 24,232 million, a decrease from RMB 28,456 million in the same period of 2024, reflecting a reduction of approximately 14.0%[63]. Production and Sales - Oil and gas equivalent production reached 130.97 million barrels, representing a year-on-year increase of 1.7%, with natural gas production at 3,684.3 billion cubic feet, up 5.1% year-on-year[22]. - The total sales in the exploration and development segment for Q1 2025 was RMB 75,894 million, down 4.8% from RMB 79,812 million in Q1 2024[55]. - The refining segment reported a total sales of RMB 354,456 million in Q1 2025, a decrease of 5.3% from RMB 374,212 million in Q1 2024[55]. - The marketing and distribution segment's sales for Q1 2025 were RMB 374,380 million, down 8.7% from RMB 410,155 million in Q1 2024[55]. - The chemical segment reported a total sales of RMB 124,051 million, slightly up from RMB 122,988 million in Q1 2024, indicating a growth of 0.9%[55]. - The company reported a 4.0% decline in refined oil demand, while chemical product demand continued to grow with a 3.1% increase in ethylene equivalent consumption[21]. - The average price of Brent crude oil was USD 75.7 per barrel, a decrease of 9.0% year-on-year[21]. - The average realized price for crude oil was USD 71.50 per barrel, down 5.2% year-on-year[23]. - Total refined oil sales volume was 55.59 million tons, down 7.1% year-on-year, with retail volume at 27.43 million tons, a decrease of 6.4%[29]. - Ethylene production increased by 17.7% year-on-year to 3.861 million tons, while the chemical segment reported a loss of RMB 1.321 billion[30][31]. Financial Expenses and Income - Financial expenses increased by RMB 1.875 billion, a rise of 69.3%, primarily due to increased foreign currency loan exchange losses[15]. - Investment income decreased by RMB 3.825 billion, down 69.9%, affected by changes in hedging business profits and declines in some joint ventures[15]. - The fair value changes resulted in a gain of RMB 2.463 billion, a significant increase compared to a loss of RMB 4.897 billion in the previous period[15]. - The company incurred financial expenses of RMB 4,579 million in Q1 2025, compared to RMB 2,704 million in Q1 2024, marking an increase of 69.5%[56]. - The company reported a total of RMB 2,684 million in share of profits from associates and joint ventures, a decrease from RMB 2,798 million year-over-year[66]. Future Plans and Strategies - The company plans to enhance its integrated energy services, focusing on LNG and hydrogen energy development[28]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[45]. - The company aims to improve operational efficiency and reduce costs in response to declining revenues[49]. - The company plans to focus on market expansion and new technology development in the upcoming quarters[49].

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，知识产权方面有商标信息45条，专利信息5000条，此外企业还拥有行政许可39个。 金融界消息 截至2025年4月28日收盘，中国石化（600028）报收于5.71元，上涨0.53%，换手率0.11%， 成交量101.50万手，成交金额5.79亿元。 来源：金融界 中国石化最新一期业绩显示，截至2024年报，公司营业总收入30745.62亿元、同比减少4.29%，归属净 利润503.13亿元，同比减少16.79%，扣非净利润480.57亿元，同比减少20.82%，流动比率0.779、速动比 率0.398、资产负债率53.17%。 天眼查商业履历信息显示，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，实缴资本8063382.8289 万人民币。公司法定代表人为马永生。 资金流向方面，今日主力资金净流入4207.47万元，占比成交额7.27%。其中，超大单净流入2629.33万 元、占成交额4.54%，大单净 ...

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]

Group 1 - The core viewpoint of the article emphasizes the integration of oil and gas with new energy as a crucial aspect of the energy revolution under China's dual carbon goals [2][3] - The conference held at Shengli Oilfield gathered over 150 industry experts to share experiences and discuss the latest technologies and practices in the integration of oil and gas with new energy [1] - Key topics discussed included the development of new energy technologies, practical integration of oil and gas with new energy, and carbon asset development [1] Group 2 - Shengli Oilfield aims to build a new energy system characterized by multi-energy complementarity and clean efficiency, focusing on the coordinated development of traditional oil and gas, new energy, and green low-carbon industries [2] - The company is committed to enhancing energy supply and consumption, establishing advantages in green heat development, and transitioning towards a green oilfield model that prioritizes clean energy [2] - The leadership emphasized the importance of maximizing value, optimizing resources, and leveraging intelligent platforms to drive the integration of oil and gas with new energy [3]

Group 1 - The core viewpoint is that Sinopec's Easy Joy is launching a campaign to assist foreign trade enterprises in transitioning to domestic sales by leveraging its extensive network of convenience stores [1][3] - Sinopec Easy Joy operates over 28,000 convenience stores nationwide, with more than 1,800 stores in Hubei, making it the largest chain in the province [3] - The initiative aims to reduce channel costs for foreign trade companies, allowing them to enter the domestic market at a lower cost and facilitating rapid product listing through integrated marketing strategies [1][3] Group 2 - The company is expanding its service offerings to include instant retail, catering, coffee, laundry, and home cleaning services to meet consumer demands for convenience and immediacy [5] - New product lines such as "Yichu Mingpin" and "Guo Yiyuan" featuring Hubei specialty products will be promoted through Easy Joy's channels, enhancing the reach of local goods [5] - The company is also launching a "Car Friends Festival" to provide various services and discounts for car owners, promoting self-driving tourism in collaboration with local tourism departments [7] Group 3 - The initiative is described as a blend of commercial value and social responsibility, aiming to empower partners and create opportunities through a collaborative ecosystem [8]

Group 1 - The State Intellectual Property Office of China has published a patent application by China Petroleum & Chemical Corporation (Sinopec) for a method and device for controlling the feed rate of a heating furnace, aimed at preventing premature coking and insufficient heating in the furnace [1] - The patent application, titled "Storage Medium, Feed Rate Control Method, Device and Equipment for Heating Furnace," was filed on October 2023 and includes a three-dimensional thermodynamic model for optimizing feed rate parameters [1] - The invention is expected to enhance the control effectiveness of heating furnaces, which is crucial for operational efficiency in the petrochemical industry [1] Group 2 - China Petroleum & Chemical Corporation, established in 2000, is primarily engaged in the petroleum, coal, and other fuel processing industries, with a registered capital of approximately 12.17 billion RMB [2] - The company has made investments in 256 enterprises and participated in 5,000 bidding projects, holding 45 trademark registrations and 5,000 patent records [2] - Sinopec (Dalian) Petrochemical Research Institute, founded in 2022, focuses on research and experimental development, with a registered capital of approximately 338.46 million RMB and has participated in 695 bidding projects [2]