FF305 FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國石油化工股份有限公司 呈交日期： 2025年9月4日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 H | | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00386 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | ...

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) has released a social responsibility report highlighting its contributions to Tibet, focusing on energy supply, innovation, green development, and community service since 2002 [1][4]. Group 1: Energy Supply and Infrastructure - Sinopec has established over 50 fuel stations across seven cities in Tibet, supplying more than 1 million tons of oil products and investing 680 million yuan in aid projects [1][4]. - The company has built 53 operational fuel stations in Tibet, including the highest and first carbon-neutral stations, and has created a network that supports energy security across the region [4]. Group 2: Community Support and Economic Development - Sinopec has invested 680 million yuan in aid, implemented over 230 assistance projects, and launched highland specialty products, significantly contributing to rural revitalization [5]. - The "Yijie·Zhuoma Spring" bottled water brand has sold 1.585 million tons, generating 4.05 billion yuan in revenue and creating over 800 jobs [5]. Group 3: Education and Social Welfare - The company has built the "Bange County Sinopec Primary School," enhancing educational resources and creating a modern learning environment with over 20,000 books [6]. - Sinopec has developed a comprehensive educational support system to improve local education quality [6]. Group 4: Environmental Protection - Sinopec has undertaken ecological initiatives, including planting 2,276.8 acres of greenery and establishing 15 distributed photovoltaic power stations, generating approximately 450 tons of carbon emission reductions annually [6].

港股石油股集体走低，其中，中海油田服务跌超3%，中国石油化工、延长石油股份跌超2%，中国石油 股份、上海石油股化工跌1.55%，中国海洋石油跌1.36%。 消息上，由于投资者和交易员正关注本周末欧佩克+的会议，有分析预计他们将考虑再次提高产量目 标，周四油价下跌，延续了此前交易时段逾2%的跌幅。两位熟悉讨论的消息人士表示，欧佩克+将在周 日的会议上考虑在10月进一步增产，该组织正寻求重新获得市场份额。Price Futures Group高级分析师 Phil Flynn表示，欧佩克+提高产量的前景在会议前有所增加，交易员原本预计该集团不会做出改变。 (格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 へ | | --- | --- | --- | --- | | 02883 | 中海油田服务 | 6.800 | -3.27% | | 00346 | 延长石油国际 | 0.420 | -2.33% | | 00386 | 中国石油化工股 | 4.100 | -2.22% | | 00857 | 中国石油股份 | 7.620 | -1.55% | | 00338 | 上海石油化工股 | 1.290 | -1. ...

Group 1 - On September 3, Yatai Group signed a strategic cooperation agreement with China Unicom Jilin Province, focusing on core business and product industry chain collaboration [1] - The cooperation will emphasize deep collaboration in internet hospitals and green energy application scenarios, exploring new fields such as digital medical platforms, health management, pharmaceutical e-commerce, and low-carbon green electricity [1] - On the same day, Yatai Group also signed a strategic cooperation agreement with Sinopec Jilin Petroleum, focusing on resource integration and rapid implementation [1] Group 2 - The partnership with Sinopec will prioritize energy supply assurance, building material product supply, and dual-brand retail channel integration [1] - Both parties will leverage their respective channel and resource advantages for joint construction of charging and swapping facilities, professional construction general contracting services, and integrated marketing of resources [1]

Market Overview - The Hang Seng Index fell by 153.12 points, a decrease of 0.6%, closing at 25,343.43 points [1] - The total turnover for the day on the main board was 267.647 billion HKD [1] - The Hang Seng China Enterprises Index dropped by 58.1 points, closing at 9,050.02 points, a decline of 0.64% [1] - The Hang Seng Tech Index decreased by 44.72 points, closing at 5,683.74 points, a drop of 0.78% [1] Blue Chip Stocks - Tencent Holdings fell by 0.33%, closing at 598.5 HKD [1] - Hong Kong Exchanges and Clearing decreased by 1.35%, closing at 437.6 HKD [1] - China Mobile increased by 0.12%, closing at 85.7 HKD [1] - HSBC Holdings declined by 0.6%, closing at 99.15 HKD [1] Local Hong Kong Stocks - Cheung Kong Holdings dropped by 1.41%, closing at 36.42 HKD [1] - Sun Hung Kai Properties fell by 1.66%, closing at 92.1 HKD [1] - Henderson Land Development decreased by 1.35%, closing at 26.3 HKD [1] Chinese Financial Stocks - Bank of China fell by 0.92%, closing at 4.31 HKD [1] - China Construction Bank decreased by 0.91%, closing at 7.63 HKD [1] - Industrial and Commercial Bank of China dropped by 1.2%, closing at 5.74 HKD [1] - Ping An Insurance increased by 0.09%, closing at 56.5 HKD [1] - China Life Insurance fell by 0.77%, closing at 23.16 HKD [1] Oil and Petrochemical Stocks - Sinopec fell by 0.92%, closing at 4.29 HKD [1] - PetroChina increased by 0.91%, closing at 7.74 HKD [1] - CNOOC dropped by 0.95%, closing at 19.87 HKD [1]

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) Shandong Petroleum Branch and Taishan Property Insurance Co., Ltd. have signed a strategic cooperation agreement to leverage their respective resources for a new "energy + insurance" development model, aiming to enhance the high-quality development of Shandong's economy [1][4]. Group 1: Company Overview - Sinopec Shandong Petroleum is a subsidiary of Sinopec Group focused on refined oil sales in Shandong, committed to high-quality development and local economic promotion through integrated storage, logistics, sales, and service [3]. - Taishan Property Insurance is the first national insurance entity registered in Shandong, managed directly by the Shandong Provincial State-owned Assets Supervision and Administration Commission, providing various insurance services to support local economic development and public welfare [3]. Group 2: Strategic Cooperation Details - The partnership will prioritize resource integration in their respective businesses, focusing on the automotive ecosystem by combining Taishan's "Car Steward" service with Sinopec's "People, Vehicle, Life" ecosystem to create a comprehensive service system covering the entire automotive lifecycle [4]. - The collaboration will enhance energy cooperation by aligning Taishan's energy needs with Sinopec's energy network, ensuring stable and reliable energy supply, while also exploring a "one-stop" community service model to improve customer engagement and brand influence [4][5]. Group 3: Future Outlook - The cooperation is seen as a starting point for ongoing resource integration and service innovation, aiming to continuously optimize service offerings and user experience, thereby supporting enterprise transformation and the high-quality development of Shandong's economy [5].

Group 1 - The core point of the news is the rapid expansion of Sinopec's Easy Coffee, which recently opened its 1000th store, marking a significant milestone in its growth strategy [1][5]. - Easy Coffee aims to open 3000 stores within three years, a goal set in 2020, and has now entered the "thousand-store club" after six years [1][4]. - The partnership with Luckin Coffee has contributed to the growth, with shared stores reaching 148 by the end of 2023 [2][4]. Group 2 - Easy Coffee's expansion strategy leverages Sinopec's extensive network of over 30,000 gas stations, allowing for low-cost operations and competitive pricing [5][6]. - The brand has shifted to a fully owned model after Luckin Coffee exited the joint venture, indicating a strategic move to consolidate resources [4][5]. - The store-in-store model has become popular among coffee brands, with several others like Tims and Kudi Coffee also adopting this approach to expand their market presence [6][8]. Group 3 - The store-in-store model allows for rapid expansion with lower investment and operational costs, making it attractive for coffee brands [9][11]. - However, challenges exist, such as limited product offerings and complexities in management and revenue sharing among partners [9][11]. - Despite these challenges, the store-in-store model remains a viable solution for coffee brands to enhance market coverage while managing operational costs [11].

Core Viewpoint - The recent visit of Zheng Deyan, the new head of the Shandong Provincial Energy Bureau, to Qingdao highlights the focus on energy supply security and energy transition, particularly through collaboration with China Petroleum & Chemical Corporation (Sinopec) [1][4][11]. Group 1: Energy Supply and Infrastructure - Zheng Deyan's visit included inspections of Sinopec's LNG receiving station and the photovoltaic hydrogen production project, emphasizing the importance of stable natural gas supply and safety in production [1][4]. - Shandong Province faces significant pressure in ensuring natural gas supply, with a reported consumption of 23.66 billion cubic meters in 2021, marking an 11% increase year-on-year [4][5]. - The Qingdao LNG receiving station, operational since November 2014, is the only LNG terminal in Shandong, with an annual gas supply capacity of 16.5 billion cubic meters [5][7]. Group 2: Renewable Energy Initiatives - The Qingdao LNG receiving station has been upgraded to an international transit station, significantly alleviating energy supply pressures in North China, with nearly 50 million tons of resources received and approximately 54 billion cubic meters of gas supplied by July 2023 [7][8]. - The newly established floating photovoltaic project in Qingdao is China's first industrial operational floating solar project, generating 16.7 million kWh of green electricity annually and reducing CO2 emissions by 14,000 tons [8][9]. Group 3: Collaboration with Local Government - The partnership between Sinopec and Qingdao has been strengthened through capital operations, with Qingdao Energy Group acquiring a stake in Sinopec's LNG company, enhancing the city's gas supply capabilities [17][20]. - The collaboration aims to develop a comprehensive energy supply system, addressing both urban energy security and industrial development needs [20][21]. - The ongoing discussions about the relocation of Qingdao Petrochemical highlight the need for further cooperation in emerging industries and refining sectors [21][22].

Core Viewpoint - The article highlights the emergence of Honghu Fund's second and third phases as significant shareholders in several listed companies, indicating a strategic investment approach by insurance capital in the market [1][3]. Group 1: Shareholding Information - Honghu Fund's second phase has entered the top ten shareholders of China National Petroleum and China Shenhua, with respective holdings valued at over 18 billion and 21 billion yuan [3]. - Honghu Fund's third phase, specifically the No. 1 product, has been listed as the eighth largest shareholder of Sinopec, holding approximately 305 million shares valued at 17.63 billion yuan [5]. - As of June 30, 2025, Honghu Fund's first phase maintained its positions in Shaanxi Coal and Yili Group, with no change in shareholding quantity compared to the previous quarter [6]. Group 2: Fund Structure and Management - Honghu Fund comprises three phases with a total scale of 110 billion yuan, managed by Guofeng Xinghua, a joint venture of China Life Asset and Xinhua Asset [6][8]. - The first phase of the fund has a scale of 50 billion yuan, fully invested by China Life and other contributors, achieving good returns by March of this year [6]. - The second phase has a scale of 20 billion yuan, with equal contributions from China Life and Xinhua Insurance, and has completed its main investment allocation by the end of the second quarter [6][11]. Group 3: Investment Strategy and Performance - The fund adheres to a long-term, value-oriented investment philosophy, focusing on companies with good governance and stable cash flows, particularly during market downturns [9][11]. - The average dividend yield of the six listed companies in which the fund has invested is relatively high, with four energy and coal stocks exceeding 5% [10]. - As of June 30, the first phase of Honghu Fund reported total assets of 57.11 billion yuan and a net profit of 9.68 billion yuan for the first half of the year [11][12].

Core Insights - The article discusses the recent disclosures of half-year reports from listed companies, highlighting the investments made by the Honghu Fund, which is the largest and earliest established private equity fund backed by insurance capital in China [1][2]. Group 1: Honghu Fund Investments - Honghu Fund has become a top ten shareholder in at least six listed companies, including China Petroleum, China Shenhua, and China Petrochemical [1]. - The investment criteria for Honghu Fund include companies with good governance, stable operations, relatively stable dividends, good liquidity, and strong returns, focusing on large-cap blue-chip companies [1]. - The companies in which Honghu Fund has invested exhibit characteristics of high dividend yields and large market capitalizations, with dividend yields exceeding 5% for companies like Shaanxi Coal and China Shenhua [1]. Group 2: Fund Performance and Strategy - As of the end of the second quarter, the second phase of the Honghu Fund has nearly completed its investment allocation, while the third phase commenced in early July and is progressing smoothly [2]. - The pilot fund has achieved lower risk indicators and higher return indicators compared to benchmarks, indicating a successful balance between functionality and profitability [2]. - The pilot fund's total amount has reached 222 billion yuan, with the first two batches of pilot institutions approved to establish private equity fund companies [2].