Core Viewpoint - China Petrochemical Corporation (Sinopec) has discovered a significant new shale oil and gas resource in the Sichuan Basin, marking a major breakthrough in domestic oil exploration [1] Group 1: Discovery Details - The risk exploration well, Qilu Ye 1, has tested high-yield shale oil and gas flows, producing 38.64 cubic meters of shale oil and 10,000 cubic meters of natural gas per day [1] - This discovery indicates a resource volume of over 100 million tons, establishing a new large-scale shale oil reserve in the region [1] Group 2: Economic and Strategic Implications - The well's shallow burial depth and high-quality oil suggest favorable economic development prospects [1] - This achievement aligns with the strategic goal of transitioning oil and gas exploration in the southern Sichuan Basin from marine to terrestrial areas [1]

Core Insights - China Petroleum & Chemical Corporation (Sinopec) has successfully tested a high-yield shale oil and gas flow from the Qilu Yeyou 1 well in the Qijiang District of Chongqing, achieving a daily oil production of 38.64 cubic meters and natural gas production of 10,000 cubic meters, indicating a significant resource discovery in the Sichuan Basin [1][4][6] Group 1 - The Qilu Yeyou 1 well represents a new billion-ton level shale oil reserve area, which is strategically important for shale oil exploration and development in Southwest China [1][4] - Sinopec discovered a large-scale shale gas field in the Qijiang area in 2022, with a capacity of 100 billion cubic meters, and has since initiated a new round of shale oil research [4][6] - The successful drilling of the Qilu Yeyou 1 well involved a geological engineering team that implemented targeted key technologies, achieving a horizontal section length of over 2,000 meters and a 100% rate of encountering quality shale [6] Group 2 - Sinopec has increased its exploration and development efforts in shale oil, confirming new oil fields in the Xinxing, Qintong, and Fuxing shale systems, with significant geological reserves reported for each [6] - The Xinxing oil field in the Bohai Bay Basin has confirmed geological reserves of over 140 million tons, while the Qintong oil field in the Jiangsu Province has confirmed reserves of 40.02 million tons [6] - The Fuxing oil field in the southeastern Sichuan Basin has confirmed reserves of 20.10 million tons of oil and 12.35 billion cubic meters of natural gas, with an expected annual shale oil production of 70,500 tons in 2024, marking a year-on-year increase of 30,800 tons [6]

Core Insights - China Petroleum & Chemical Corporation (Sinopec) has successfully tested high-yield shale oil and gas flow from the Qilu Ye 1 well in the Qijiang District of Chongqing, indicating a significant new resource discovery in the Sichuan Basin [1] - The discovery of a billion-ton level shale oil reserve is strategically important for shale oil exploration and development in Southwest China, contributing to the long-term stability of the country's crude oil production [1] - Sinopec has intensified its shale oil exploration efforts, with new oil fields discovered in the Xinxing, Qintong, and Fuxing shale formations, contributing to national energy security [2] Group 1 - The Qilu Ye 1 well achieved a daily production of 38.64 cubic meters of oil and 10,000 cubic meters of natural gas, marking a high-yield shale oil gas flow [1] - The integration of geological engineering teams has led to the successful completion of drilling operations, with a horizontal section exceeding 2,000 meters and a 100% rate of encountering quality shale [1] - The new shale oil discovery complements the previously identified Qijiang shale gas field, forming a "gas below, oil above" resource structure in the region [1] Group 2 - The Xinxing oil field in the Bohai Bay Basin has proven geological reserves of over 140 million tons, while the Qintong oil field in the Jiangsu Province has reserves of 40.02 million tons [2] - The Fuxing oil field in the southeastern Sichuan Basin has proven reserves of 20.10 million tons of oil and 12.352 billion cubic meters of natural gas [2] - Sinopec's shale oil production is projected to reach 705,000 tons in 2024, an increase of 308,000 tons from the previous year [2]

Core Viewpoint - Sichuan Yazhou Petrochemical Energy Co., Ltd. has been established with a registered capital of approximately 32.28 million RMB, indicating a strategic move into the petrochemical and energy sector [1] Company Summary - The legal representative of the newly established company is Li Ping [1] - The company's business scope includes sales of lubricants, petroleum products, office equipment, batteries, tires, and operation of electric vehicle charging infrastructure, including centralized fast charging stations and general cargo storage services [1] - The shareholders of the company are Sichuan Yazhou New District Logistics Park Development Co., Ltd. and Sinopec Sales Co., Ltd., indicating a partnership between local and national entities in the energy sector [1]

Core Viewpoint - The Hong Kong stock market saw an initial rise in the shares of the three major oil companies, driven by an increase in oil prices following new sanctions imposed by the U.S. on Russian oil companies due to the ongoing Russia-Ukraine conflict [1]. Group 1: Oil Price Movement - Oil prices in Asia rose significantly, with West Texas Intermediate crude futures increasing by 2.9% to $60.22 per barrel and Brent crude futures also rising by 2.9% to $64.39 per barrel [1]. - The rise in oil prices is attributed to the U.S. sanctions on Russia's largest oil producers, which has alleviated concerns over supply excess amid signs of excessive recent selling and a decrease in U.S. crude oil inventories [1]. Group 2: Company Performance - China National Offshore Oil Corporation (CNOOC) saw its stock price increase by 2.36%, reaching HKD 19.960 [1]. - PetroChina's stock rose by 1.01%, reaching HKD 7.970 [1]. - Sinopec's stock experienced a smaller increase of 0.48%, reaching HKD 4.150 [1].

Core Viewpoint - The "Big Three" oil companies in China are experiencing active trading with notable stock price increases, driven by a significant rise in international oil prices following U.S. sanctions on major Russian oil companies [1] Group 1: Stock Performance - CNOOC (00883) increased by 3.08%, reaching HKD 20.1 [1] - PetroChina (00857) rose by 1.77%, reaching HKD 8.03 [1] - Sinopec (00386) gained 1.21%, reaching HKD 4.18 [1] Group 2: Oil Price Movement - International crude oil futures settled with an increase of over 2% [1] - WTI crude oil futures rose by 2.20%, priced at USD 58.50 per barrel [1] - Brent crude oil futures increased by 2.07%, priced at USD 62.59 per barrel [1] Group 3: Geopolitical Impact - The U.S. Treasury announced sanctions against two major Russian oil companies, impacting the global oil market [1] - According to Everbright Securities, the long-term supply-demand dynamics for crude oil remain favorable despite geopolitical uncertainties [1] - The firm maintains a positive outlook on the "Big Three" oil companies and the oil service sector from a long-term perspective [1]

Core Insights - The successful operation of China's first cold energy low-temperature seawater aquaculture demonstration project at the Qingdao LNG receiving station marks a significant advancement in the utilization of LNG cold energy [1][2] - This project represents a new integration of "green energy" and "blue farming" in northern China, expanding the practical applications of LNG cold energy utilization [1] Group 1: Project Overview - The project utilizes the low-temperature cold energy released during the gasification of LNG, which is often wasted in the industry, transforming it into a viable industrial value [1] - A tailored "water treatment and aquaculture supporting process system" was developed based on the characteristics of the Qingdao LNG receiving station [1] Group 2: Environmental and Economic Benefits - The project saves costs and energy consumption associated with traditional seawater aquaculture by using "low-temperature sterile seawater" from the LNG receiving station as the source water [1] - The project is designed to create a resource recycling closed loop, ensuring that the aquaculture process is environmentally friendly by treating and discharging wastewater in compliance with standards [1] Group 3: Technological Innovations - The demonstration project employs a large-scale factory aquaculture workshop processing technology that simulates various fish fry living environments, enabling stable year-round aquaculture [2] - The fish farming workshop features comprehensive video monitoring and online water quality testing, enhancing immediate response capabilities [2] - The project utilizes biological purification processes to reduce the environmental burden from chemical agents, while maintaining strict temperature control for optimal fish growth [2] Group 4: Sustainability Impact - Preliminary estimates indicate that the project saves approximately 174 kilowatt-hours of electricity daily and reduces carbon dioxide emissions by about 100 kilograms [2] - This project not only increases revenue from seawater aquaculture but also provides a cost-effective and environmentally friendly technical solution for achieving carbon neutrality goals [2]

Market Overview - The Hang Seng Index fell by 245.78 points, a decrease of 0.94%, closing at 25,781.77 points [1] - The total turnover for the day was 227.536 billion HKD [1] - The Hang Seng China Enterprises Index dropped by 78.88 points, closing at 9,223.78 points, a decline of 0.85% [1] - The Hang Seng Tech Index decreased by 84.85 points, closing at 5,923.09 points, a drop of 1.41% [1] Blue-Chip Stocks - Tencent Holdings decreased by 1.11%, closing at 623.5 HKD [1] - Hong Kong Exchanges and Clearing fell by 1.58%, closing at 422.4 HKD [1] - China Mobile declined by 0.88%, closing at 84.45 HKD [1] - HSBC Holdings increased by 0.1%, closing at 102.5 HKD [1] Local Hong Kong Stocks - Cheung Kong Holdings fell by 0.26%, closing at 37.86 HKD [1] - Sun Hung Kai Properties decreased by 1.44%, closing at 92.35 HKD [1] - Henderson Land Development dropped by 0.87%, closing at 27.3 HKD [1] Chinese Financial Stocks - Bank of China decreased by 0.23%, closing at 4.36 HKD [1] - China Construction Bank fell by 0.13%, closing at 7.81 HKD [1] - Industrial and Commercial Bank of China increased by 0.17%, closing at 5.96 HKD [1] - Ping An Insurance dropped by 0.72%, closing at 55.5 HKD [1] - China Life Insurance decreased by 2.33%, closing at 24.36 HKD [1] Oil and Petrochemical Stocks - Sinopec increased by 0.24%, closing at 4.13 HKD [1] - PetroChina rose by 1.15%, closing at 7.89 HKD [1] - CNOOC increased by 0.93%, closing at 19.5 HKD [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （證券代號：00386） 海外監管公告 中國石油化工股份有限公司 關於召開2025年第三季度業績說明會的公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而做出。 承董事會命 中國石油化工股份有限公司 黃文生 副總裁、董事會秘書 中國北京 2025年10月22日 於本公告日期，本公司的董事為：侯啟軍 * 、趙東 # 、鐘韌 * 、李永林 # 、呂亮功 # 、 牛栓文 # 、萬濤 # 、蔡勇 * 、徐林 + 、張麗英 + 、廖子彬 + 及張希良 + 。 # 執行董事 * 非執行董事 + 獨立非執行董事 股票代码：600028 股票简称：中国石化 公告编号：2025-42 中国石油化工股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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 或重大遗漏，并对其内容的真实性、准 ...

股票代码：600028 股票简称：中国石化 公告编号：2025-42 中国石油化工股份有限公司 关于召开 2025 年第三季度业绩说明会的公告 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： 投资者可于 2025 年 10 月 23 日（星期四）至 2025 年 10 月 29 日（星期三）16:00 前 登 录 上 证 路 演 中 心 网 站 首 页 点 击 " 提 问 预 征 集 " 栏 目 或 通 过 公 司 邮 箱 （ir@sinopec.com）进行提问。公司将在说明会上对投资者普遍关注的问题进行回 答。 中国石油化工股份有限公司（"中国石化"或"公司"）拟于 2025 年 10 月 30 日发 布公司 2025 年第三季度报告，并计划于上午 9:00-10:00 举行 2025 年第三季度业绩 说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以网络互动形式召开，公司将针对 2025 年第三季度业绩和经营 情况与投资者进行互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的 1 ...