Core Viewpoint - The event highlighted the strategic role of hydrogen energy in driving the green transformation of traditional industries in Liaoning, with China Petroleum & Chemical Corporation (Sinopec) leading the initiative to develop the hydrogen energy industry in the region [1][3]. Group 1: Hydrogen Energy Industry Development - Liaoning possesses unique advantages for hydrogen energy development, including abundant hydrogen resources, a strong manufacturing base, rich research resources, broad application scenarios, and government support [3][4]. - The province has already produced approximately 20,000 tons/year of green hydrogen and plans to scale up to over 400,000 tons/year [3]. Group 2: Sinopec's Strategic Initiatives - Sinopec aims to become "China's leading hydrogen energy company" by focusing on hydrogen transportation and green hydrogen refining, with a goal to enhance hydrogen production and utilization [5][6]. - The company has established over 140 hydrogen refueling stations, making it the largest operator of such stations globally, and is working on policies to support hydrogen vehicle usage [5]. - Sinopec's hydrogen supply capacity has reached 24,000 Nm³/h (approximately 18,000 tons/year) through the construction of hydrogen supply centers at various refineries [5]. - The company is exploring innovative methods to reduce hydrogen production costs, including on-site hydrogen production and new transportation models [6].

Core Viewpoint - The establishment of the joint venture company, Fujian Zhong-A Refining and Chemical Co., Ltd., marks a significant investment in the refining and chemical sector, with a total investment of 711 billion RMB, focusing on the integrated refining and chemical project in Fujian [3][4]. Group 1: Joint Venture Details - The joint venture was officially registered on September 4, with a registered capital of 28.8 billion RMB, where Fujian Refining and Chemical Co., Ltd. holds 50%, Sinopec holds 25%, and Saudi Aramco's subsidiary holds 25% [3]. - This project is the largest single investment in refining by Sinopec and the largest industrial project in Fujian province to date, representing a new model of energy cooperation between China and Saudi Arabia [3]. Group 2: Project Investment and Construction - The total investment for the project is 711 billion RMB, with plans for full production by 2030, including the construction of over 30 refining and chemical units [4]. - Key refining capacities include: 16 million tons/year of atmospheric distillation, 3.8 million tons/year of light hydrocarbon recovery, and various hydrogenation and cracking units [4]. - Chemical production will include: 1.5 million tons/year of steam cracking, 600,000 tons/year of hydrogenation of cracked gasoline, and multiple other chemical units [4]. Group 3: Saudi Aramco's Strategic Moves - Saudi Aramco's downstream president stated that this project signifies a new step in their investment in China, with plans to supply over 1 million barrels of crude oil daily to China, enhancing the "oil-to-chemicals" transition [5]. - Saudi Aramco has been actively increasing its market presence in China, with significant investments and partnerships, including a recent agreement with Rongsheng Petrochemical [5]. - The company aims to participate in various large-scale refining and chemical projects in China, indicating a strategic focus on the Chinese market [6][7].

Group 1: Global Oil Production Trends - The U.S. daily oil production reached a historic high of 13.58 million barrels, with Texas contributing 5.72 million barrels, accounting for nearly 40% of total U.S. production [2] - Russia maintained an oil production level of 250 million tons in the first half of 2025, with a daily output of 9.5 million barrels, despite a 3.5% decline compared to the previous year [3] - China's domestic crude oil production was approximately 10.847 million tons in the first half of 2025, showing a year-on-year growth of 1.3% [4] Group 2: Key Players in the Oil Industry - The three major Chinese state-owned enterprises—PetroChina, Sinopec, and CNOOC—dominate domestic oil extraction, with PetroChina producing 395.2 million barrels and Sinopec achieving a total oil and gas output of 126 million barrels in the first half of 2025 [8] - Rosneft, the largest oil company in Russia, reported a liquid hydrocarbon production of 89.3 million tons in the first half of 2025 [3] Group 3: Geopolitical Dynamics and Market Implications - The global oil market is characterized by "supply looseness and weak demand," with predictions of an average daily change in global crude oil inventory of 301,600 barrels in 2025 [6] - China’s oil imports reached 280 million tons in the first half of 2025, with a high dependency rate of 72.1% on foreign oil [6] - The geopolitical landscape is shifting, with 47% of Russia's crude oil exports directed to China, and energy trade between China and Russia expected to exceed $300 billion by 2025 [9]

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) has significantly contributed to the socio-economic development of Tibet through various initiatives, including the establishment of energy supply stations and environmental protection projects since 2002 [1][3][5]. Group 1: Energy Supply and Infrastructure Development - Since the operation of its first gas station in Tibet, Sinopec has built over 50 energy supply stations across seven cities and regions, supplying more than 1 million tons of oil products [1][3]. - The company has established the first gas station with sales exceeding 10,000 tons, the highest-altitude gas station, and the first carbon-neutral gas station in Tibet [3]. - Currently, there are 53 operational gas stations in Tibet, with a storage capacity of 20,000 cubic meters and 390 charging spots for electric vehicles, serving over 13,000 charging sessions monthly [3]. Group 2: Environmental Protection Initiatives - Sinopec has constructed 15 distributed photovoltaic power stations in Tibet, generating approximately 450,000 kWh of green electricity annually, which helps reduce carbon emissions by about 450 tons [5]. - The company has undertaken ecological civilization construction projects, including comprehensive environmental remediation and afforestation efforts, covering 2,276.8 acres [5]. Group 3: Support for Rural Revitalization and Education - Sinopec has invested 680 million yuan in over 230 aid projects in Tibet, focusing on both financial support and resource development to enhance local economic value [6]. - The company has also funded the construction of a primary school in Bangong County with nearly 100 million yuan and established a comprehensive educational support system [6]. - Looking ahead, Sinopec aims to strengthen energy supply, accelerate the layout of new energy, and continue its commitment to ecological protection and rural revitalization [6].

Core Viewpoint - The article highlights the strategic investment by Aramco Ventures in the solid-state battery unicorn, Zhongke Shenlan Huize New Energy, which focuses on polymer-based solid-state batteries with significant advancements in energy density and lifecycle [2]. Group 1: Company Overview - Zhongke Shenlan Huize New Energy, established in April 2022, specializes in polymer-based solid-state batteries and has launched its second-generation product with an energy density of 310–340 Wh/kg, supporting fast charging and high discharge rates [2]. - The company aims to achieve energy densities of 450 Wh/kg and 550 Wh/kg by 2023 and 2025, respectively, with a long-term goal of reaching 700 Wh/kg by 2030 [2]. - The first production line for polymer-based solid-state batteries is under equipment debugging and is expected to commence operations in 2025 [2]. Group 2: Technology and Market Position - Polymer-based solid-state batteries offer advantages in manufacturability, utilizing about 80% of existing lithium battery production equipment and avoiding precious metals, resulting in lower material costs [3]. - The flexibility of polymer materials addresses the solid-solid interface contact issue, a common bottleneck in solid-state battery technology [3]. Group 3: Industry Trends and Investment Landscape - The article notes a trend where scientists with core technologies are increasingly attracting capital, reflecting a shift in investment focus from ecological marketing to technology [4]. - Successful cases of scientists transitioning to entrepreneurship are rare, highlighting the challenges of bridging the gap from laboratory to market [5]. - Collaborations between scientists and established companies are suggested as a more viable path for many researchers, allowing them to focus on their expertise while leveraging professional management [6].

Group 1 - The core viewpoint of the article is that Sinopec announced its profit distribution plan for the first half of 2025, which includes a cash dividend of 0.088 yuan per share (tax included) for A-shares [2] - The record date for the dividend is set for September 11, 2025, and the ex-dividend date is September 12, 2025 [2] - The profit distribution will only involve cash dividends, with no implementation of capital reserve fund transfers to increase share capital or other forms of distribution [2]

Core Viewpoint - The establishment of Fujian Sino-Arab Refining and Chemical Co., Ltd. marks a significant step in China's refining sector, with strong backing from major stakeholders including Sinopec and Saudi Aramco, aimed at enhancing cooperation and expanding overseas business opportunities [1][2]. Group 1: Company Overview - Fujian Sino-Arab Refining and Chemical Co., Ltd. was officially registered on September 4, with a registered capital of approximately 28.8 billion RMB [1]. - The company's business scope includes manufacturing petroleum products, chemical products, basic chemical raw materials, specialized chemical products, synthetic materials, as well as land pipeline transportation and general cargo storage services [1]. Group 2: Shareholder Structure - The company is jointly owned by Fujian Refining and Chemical Co., Ltd. (50% stake), Saudi Aramco Asia Singapore Private Limited (25% stake), and China Petroleum & Chemical Corporation (Sinopec) (25% stake) [3]. - This shareholder structure provides a solid foundation for the company's future development and reflects a strategic partnership among key players in the energy sector [1][3]. Group 3: Strategic Importance - The collaboration between Sinopec and Saudi Aramco is part of a broader strategy to establish a joint venture in the Gulei Port Economic Development Zone in Fujian Province, focusing on port operations, crude oil transportation, and integrated refining projects [1]. - Saudi Aramco has committed to supplying an average of 1 million barrels of crude oil per day to ensure the smooth operation of the joint venture, which significantly boosts the company's future prospects [2]. Group 4: Industry Impact - The establishment of Fujian Sino-Arab Refining and Chemical Co., Ltd. is expected to drive the synergistic development of related industries and create new opportunities and challenges in the global energy market [3].

Major Events - Kweichow Moutai's controlling shareholder obtained a loan of 2.7 billion yuan to increase holdings [1] - SMIC is actively promoting the purchase of 49% equity in SMIC North, but the transaction plan is still under discussion [1] - Guokai Microelectronics is advancing the issuance of shares and cash payment for asset acquisition and fundraising [1] - Aerospace Hongtu signed a strategic cooperation agreement with Pakistan, but the formal contract signing remains uncertain [1] - Sinopec announced a cash dividend of 0.088 yuan per share (before tax) for A-shares [1] - Hikvision's chairman proposed a mid-2025 dividend plan of 4 yuan for every 10 shares [1] - Anzheng Fashion reported no undisclosed major events [1] - China State Construction is acquiring equity in a Shanghai real estate project for approximately 15.478 billion yuan [1] - Guokai Co., Ltd. changed its stock name to Guokai Electronics [1] - Kailuan Co. completed the change in the equity structure of China Cinda [1] - Unification Co. completed the change in the equity structure of its controlling shareholder [1] - ST Xin Dongli's stock may face delisting risk warning [1] - Jinlang Technology reported normal recent operations with no significant changes in the internal and external environment [1] - Sungrow Power Supply confirmed normal operations with no undisclosed major events [1] - Tiantong Co. reported normal production and operations with no significant changes [1] - Keyuan Pharmaceutical received a decision letter on the anti-monopoly review without further examination [1] - Zhizheng Co. was approved to issue shares for asset acquisition and fundraising [1] - Amlogic plans to issue H-shares and list on the Hong Kong Stock Exchange [1] - Digital Certification's controlling shareholder changed to Beijing Data Group [1] - ST Songfa signed a contract for two 30.6 million-ton ultra-large crude oil tankers with Hengli Shipbuilding [1] - Guangqi Technology signed a contract worth 1.278 billion yuan for the mass production of metamaterials [1] - Hongrun Construction won a bid for the Ningbo Ring City South Road East Extension Phase I project with a bid price of 388 million yuan [1] Performance - Muyuan Foods reported sales revenue of 11.85 billion yuan from live pigs in August, a year-on-year decrease of 12.30% [1] - Ankai Bus's cumulative production increased by 68.06% this year [1] - Shuguang Co. reported a 45.58% increase in axle sales in August [1] - Jinxinnong reported sales revenue of 121 million yuan from live pigs in August [1] Buyback - Yingke Medical adjusted the upper limit of its share repurchase price from 26.51 yuan per share to 41.88 yuan per share [2]

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 北京市海問律師事務所 關於中國石油化工股份有限公司 差異化分紅的專項法律意見書 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9月5日 北京市海间律师事务所 关于中国石油化工股份有限公司 差异化分红的 专项法律意见书 海问律师事务所 HAIWEN & PARTNERS 北京市海问律师事务所 地址：北京市朝阳区东三环中路 5 号财富金融中心 20 层（邮编 100020） Address: 20/F, Fortune Financial Center, 5 Dong San Huan Central Road, Chaoyang District, Beijing 100020, China 电话(Tel): (+ ...

Core Points - The company announced a cash dividend of RMB 0.088 per share (including tax) for A shares [1][3] - The dividend distribution plan was approved during the annual shareholders' meeting held on May 28, 2025, and subsequently confirmed by the board on August 21, 2025 [1][2] - The record date for the dividend is September 11, 2025, with the ex-dividend date and payment date both set for September 12, 2025 [1][4] Dividend Distribution Details - The total cash dividend distribution amounts to approximately RMB 10.66 billion, based on a total share capital of 121,160,413,698 shares after excluding the repurchased A shares [3][4] - The company has repurchased 17,200,000 A shares, which will not participate in the profit distribution, leading to a differentiated dividend distribution [2][3] - The company will not implement any capital reserve conversion to increase share capital, and the distribution will solely consist of cash dividends [3][4] Tax Implications for Shareholders - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax; for those holding shares for one year or less, the tax will be calculated upon the sale of the shares [5][6] - Qualified Foreign Institutional Investors (QFII) will have a 10% withholding tax applied to their dividends, resulting in a net cash dividend of RMB 0.0792 per share [6][7] - Hong Kong investors through the Shanghai-Hong Kong Stock Connect will also face a 10% withholding tax, with similar provisions for tax treaty benefits applicable [7]