Meeting Information - The first extraordinary general meeting of shareholders for 2025 will be held on August 21, 2025, at 9:00 AM [1] - The meeting will utilize a combination of on-site and online voting methods through the Shanghai Stock Exchange's online voting system [1][2] - The location for the on-site meeting is the Swissotel Beijing Hong Kong Macau Center, located at No. 2 Chaoyangmen North Street, Dongcheng District, Beijing [1] Voting Procedures - A-share shareholders can participate in voting either on-site or through the online voting system during specified trading hours on the meeting day [1][2] - The online voting will be available from 9:15 AM to 3:00 PM on August 21, 2025 [1][2] - Shareholders with multiple accounts can aggregate their voting rights across all accounts for the same class of ordinary shares [3] Meeting Agenda - The meeting will review proposals that have been approved by the company's board of directors during the seventh meeting of the ninth board on July 6, 2025 [2] - The proposals will be disclosed in detail on the Shanghai Stock Exchange's website prior to the meeting [2] Attendance Requirements - Shareholders or their authorized agents must present identification to attend the meeting [4] - A-share shareholders must be registered in the company's shareholder register by the end of business on July 22, 2025, to be eligible to attend [4] Additional Information - Shareholders wishing to attend the meeting must confirm their attendance by submitting a reply slip by August 1, 2025 [5] - The company will not cover travel and accommodation expenses for attending shareholders [5]

Investment Rating - The report maintains an "Overweight" rating for the oil and petrochemical industry [6] Core Viewpoints - The oil price experienced significant fluctuations in H1 2025 due to a combination of geopolitical disturbances and OPEC+ production increases, leading to a downward trend in oil prices [1][11] - Geopolitical risks, particularly the prolonged Russia-Ukraine conflict and uncertainties surrounding the Iran nuclear issue, are expected to continue impacting oil prices [2][15] - OPEC+ plans to increase production by 548,000 barrels per day in August 2025, with a projected global oil supply increase of 1.8 million barrels per day in 2025 [3][17] - Oil demand growth expectations have been revised downward, with IEA predicting an increase of 720,000 barrels per day in 2025, primarily due to weak demand from the US and China [4][24] - The "Big Three" oil companies in China are focusing on high capital expenditure and strategic production increases to mitigate external uncertainties [4][27] Summary by Sections Oil Price Trends - In H1 2025, oil prices showed a downward trend, with Brent and WTI prices at $66.63 and $64.97 per barrel respectively, down 11.0% and 9.6% from the beginning of the year [1][11] Geopolitical Risks - The Russia-Ukraine conflict is expected to persist, with slow progress in peace talks affecting market sentiment [2][12] - The Iran nuclear issue remains a significant geopolitical risk, with potential for escalation impacting oil prices [15] Supply Dynamics - OPEC+ is accelerating production increases, with a total increase of 1.918 million barrels per day since April 2025 [3][17] - The US shale oil production is expected to slow down, providing some support against the global supply increase [19] Demand Expectations - The IEA has lowered its oil demand growth forecast for 2025 by approximately 300,000 barrels per day, citing weak demand from major economies [4][24] - The "Big Three" oil companies are adapting to these changes by increasing their production plans [4][27] Investment Recommendations - The report suggests a continued positive outlook for the "Big Three" oil companies and the oil service sector, emphasizing the importance of macroeconomic recovery for chemical demand [5]

股票代码：600028 股票简称：中国石化 公告编号：2025-26 中国石油化工股份有限公司 关于召开2025年第一次临时股东会的通知 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。 重要内容提示： 一、召开会议的基本情况 （三）投票方式 本次股东会采用现场投票和网络投票相结合的表决方式。公司的 A 股股东 既可参与现场投票，也可以在网络投票时间内通过上海证券交易所股东大会网络 投票系统参加网络投票。 （四）现场会议召开的日期、时间和地点 召开的日期、时间：2025 年 8 月 21 日 9 点 00 分 召开地点：北京市东城区朝阳门北大街 2 号北京港澳中心瑞士酒店 （五）网络投票的系统、起止日期和投票时间 网络投票系统：上海证券交易所股东大会网络投票系统 （一）股东会类型和届次 2025年第一次临时股东会（简称"本次股东会"）。 （二）股东会召集人 中国石油化工股份有限公司（简称"公司"或"中国石化"）董事会。 网络投票起止时间：自2025 年 8 月 21 日 至2025 年 8 月 21 日 1 股东会召开日期：2 ...

股票代码：600028 股票简称：中国石化 公告编号：2025-25 1 二、同意召开临时股东会，授权董事会秘书发出通知。 中国石油化工股份有限公司（简称"中国石化"或"公司"）第九届董事会第七 次会议（简称"会议"）于 2025 年 7 月 4 日发出书面通知和书面材料，于 2025 年 7 月 6 日以电子通讯方式召开。 应出席会议的董事 10 人，实际出席会议的董事 10 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、关于提名公司董事的议案。 同意提名侯启军先生、蔡勇先生为中国石化第九届董事会非执行董事候选人， 并提请股东会选举（简历详见附件）。同意授权中国石化董事会秘书代表中国石化处 理因选举董事所需的各项有关申请、报批、登记及备案等相关手续。 2025 年 7 月 6 日，董事会提名委员会已审议并一致同意本议案，同意将本议案 提交董事会审议。 本议案将提呈中国石化 2025 年第一次临时股东会（简称"临时股东会"）审议。 中国石油化工股份有限公司 第九届董事会第七次会议决议公告 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 ...

Group 1 - The core viewpoint of the news is that China Petroleum & Chemical Corporation (Sinopec) has applied for a patent related to the feasibility evaluation method, device, and electronic equipment for pressure operation in salt cavern gas storage [1] - The patent application was filed on January 2024, and the publication number is CN120258581A [1] - The invention pertains to the field of oil and gas resource storage and transportation technology, focusing on evaluating the pressure operation potential of gas storage wells [1] Group 2 - China Petroleum & Chemical Corporation was established in 2000, located in Beijing, primarily engaged in oil and gas extraction, with a registered capital of approximately 12.17 billion RMB [2] - The company has made investments in 263 enterprises and participated in 5,000 bidding projects, holding 45 trademark records and 5,000 patent records [2] - Sinopec Petroleum Engineering Technology Research Institute, established in 2022, focuses on research and experimental development, with a registered capital of 300 million RMB [2] - The research institute has invested in 3 enterprises, participated in 688 bidding projects, and holds 15 trademark records and 728 patent records [2]

Group 1 - The core viewpoint of the news is that China Petroleum & Chemical Corporation (Sinopec) has applied for a patent related to fiber composite materials and their preparation methods, which includes flame-retardant products [1] - The patent application was published under CN120248552A, with the application date being January 2024 [1] - The fiber composite material consists of 68-78wt% fiber, 21.8-32wt% resin, and 0.2-1wt% organic aerogel, indicating a focus on enhancing flame-retardant properties while maintaining mechanical performance [1] Group 2 - China Petroleum & Chemical Corporation was established in 2000 and is primarily engaged in oil and gas extraction, with a registered capital of approximately 12.17 billion RMB [2] - Sinopec has made investments in 263 companies and participated in 5000 bidding projects, holding 5000 patent records and 45 trademark records [2] - Sinopec Shanghai Petrochemical Company, established in 1993, focuses on oil, coal, and other fuel processing, with a registered capital of approximately 1.08 billion RMB and has invested in 21 companies [2]

金融界2025年7月4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;中国石化销售股份 有限公司申请一项名为"一种用于整合成品油一二次物流的组合优化调运方法"的专利，公开号 CN120258376A，申请日期为2025年03月。 专利摘要显示，本发明涉及成品油一、二次调运过程领域，尤其涉及一种用于整合成品油一二次物流的 组合优化调运方法，包括：构建成品油一、二次物流的基础组合调运模型；根据所述基础组合调运模型 基于迭代贪婪算法获取对应组合优化调运结果，将成品油的从炼厂到加油站的全环节调运过程作为基 础，构建一、二次物流组合优化模型，并利用改进的迭代贪婪算法进行资源调运方案的求解。该方法能 够根据炼厂资源供应数据以及加油站需求数据，模拟测算优化前、后，成品油一、二次物流的全环节资 源调运方案，量化评价全环节物流运行费用、一次分运输方式占比以及油库的二次辐射范围等指标，为 未来从全局角度合理优化一、二次资源调运方案奠定了基础。 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，是一家以从事石油和天然 气开采业为主的企业。企业注册资本12173968.9893万人民币。通过天眼查大数 ...

Market Overview - The FTSE China A50 Index components showed a mixed performance with banking, liquor, semiconductor, and logistics sectors rising, while non-ferrous metals and chemical pharmaceuticals sectors weakened [1] - BYD's stock price fell over 1% [1] Sector Performance Banking Sector - Major banks like China Pacific Insurance, Ping An Insurance, and China Life Insurance reported market capitalizations of 382.98 billion, 357.30 billion, and 1,030.15 billion respectively, with trading volumes of 9.81 million, 36.96 million, and 7.85 million [3] Liquor Industry - Key players such as Kweichow Moutai, Shanxi Fenjiu, and Wuliangye had market capitalizations of 1,786.59 billion, 214.35 billion, and 467.31 billion respectively, with trading volumes of 40.87 million, 10.51 million, and 20.49 million [3] Semiconductor Sector - Companies like Northern Huachuang, Cambricon Technologies, and Haiguang Information had market capitalizations of 241.84 billion, 229.03 billion, and 315.09 billion respectively, with trading volumes of 24.36 million, 31.12 million, and 15.15 million [3] Automotive Sector - BYD, Great Wall Motors, and Beijing-Shanghai High-Speed Railway had market capitalizations of 1,818.73 billion, 186.84 billion, and 278.88 billion respectively, with trading volumes of 34.54 million, 4.39 million, and 5.94 million [3] Oil Industry - China Petroleum, Sinopec, and COSCO Shipping had market capitalizations of 239.78 billion, 688.67 billion, and 1,573.98 billion respectively, with trading volumes of 8.63 million, 6.43 million, and 7.64 million [3] Coal Industry - Major companies like China Shenhua and Shaanxi Coal and Chemical Industry had market capitalizations of 187.79 billion and 815.60 billion respectively, with trading volumes of 12.39 million and 6.45 million [3] Power Industry - Key players such as Yangtze Power and China Nuclear Power had market capitalizations of 360.33 billion and 737.96 billion respectively, with trading volumes of 20.49 million and 8.29 million [4] Food and Beverage Sector - Companies like Citic Securities, Guotai Junan, and Haitian Flavoring had market capitalizations of 409.94 billion, 340.96 billion, and 226.93 billion respectively, with trading volumes of 28.30 million, 3.94 million, and 16.84 million [4] Consumer Electronics - Industrial Fulian, Luxshare Precision, and Gree Electric Appliances had market capitalizations of 472.85 billion, 255.90 billion, and 242.55 billion respectively, with trading volumes of 30.57 million, 77.50 million, and 25.48 million [4] Chemical Products - Companies like Wanhua Chemical and SF Holding had market capitalizations of 239.20 billion and 271.34 billion respectively, with trading volumes of 12.28 million and 8.32 million [4] Construction and Engineering - China State Construction and Zijin Mining had market capitalizations of 532.88 billion and 166.95 billion respectively, with trading volumes of 27.26 million and 8.53 million [4]

Core Viewpoint - Sinopec has achieved a significant breakthrough in the development of fluidized bed hydrogen peroxide production technology, breaking the long-standing foreign monopoly and providing technological support for the upgrade of domestic hydrogen peroxide production technology [1][2]. Group 1: Technology Development - The fluidized bed hydrogen peroxide production technology developed by Sinopec has been in research for 15 years, resulting in 72 Chinese invention patents and 1 PCT international patent [1]. - The new technology integrates multiple innovations, including three types of catalysts, three process enhancements, and two new reactions, significantly improving production efficiency [1]. - The fluidized bed process allows for large-scale equipment, meeting the production needs for projects like caprolactam and propylene oxide [1]. Group 2: Market Position and Production Capacity - In 2022, China held over 50% of the global hydrogen peroxide market share, with an annual production capacity of 24 million tons, although the production process mainly relied on outdated fixed bed technology [1]. - The first domestic industrial production unit using Sinopec's fluidized bed technology was established in Hunan in 2018, with a capacity of 72,000 tons per year, outperforming domestic technology standards [2]. - In 2024, Hunan Petrochemical is expected to produce a total of 58,500 tons of hydrogen peroxide, with the first half of the year showing a cumulative production of 318,600 tons and a significant reduction in comprehensive energy consumption year-on-year [2]. Group 3: Industry Impact and Future Prospects - Experts at a recent conference recognized that Sinopec's hydrogen peroxide technology effectively addresses the inherent safety issues in hydrogen peroxide production, indicating its potential for industry-wide adoption [2]. - The technology has already been licensed to foreign companies, with a major European engineering firm responsible for promoting its licensing in Europe and North America [1].

Core Viewpoint - The article discusses the current state and future prospects of China's chemical new materials industry, highlighting the continuous expansion of production capacity, technological innovations, and the emergence of specialized chemical parks, while also addressing structural challenges and the need for high-quality development. Group 1: Industry Overview - In 2023, China's chemical new materials capacity reached approximately 49 million tons per year, with an output exceeding 36 million tons and a production value of over 1.37 trillion yuan, remaining stable compared to 2022, although lithium battery materials saw a decline from 540 billion yuan to 480 billion yuan [5][20]. - The chemical industry is experiencing a transition from high-speed growth to high-quality development, with total revenue of 15.95 trillion yuan in 2023, a decrease of 1.1% year-on-year, and total profits of 873.4 billion yuan, down 20.7% [20][21]. Group 2: Technological Innovations - Since the 13th Five-Year Plan, the chemical new materials sector has seen significant technological advancements, with breakthroughs in key technologies such as photovoltaic-grade EVA, optical-grade PMMA, and high-strength carbon fibers [7][8]. - A number of critical products have broken foreign monopolies and achieved industrialization, including HDI, PC, PPS, and electronic-grade chemicals [8][10]. Group 3: Key Players and Market Dynamics - Major companies in the sector include Sinopec, PetroChina, and China National Chemical Corporation, focusing on high-end polyolefins, synthetic rubber, and carbon fibers [11]. - Private enterprises are also making strides in specialized fields such as EVA, fluorinated chemicals, and nylon, contributing to the development of China's new materials industry [11]. Group 4: Specialized Chemical Parks - Several specialized chemical parks have emerged, such as the Shanghai Chemical Park and Ningbo Petrochemical Economic Development Zone, which are becoming core drivers for the development of new materials [11][12]. Group 5: Investment Trends and Policy Guidance - Under the guidance of industrial policies, there is a high investment enthusiasm in the chemical new materials sector, focusing on high-end polyolefins, engineering plastics, and functional films [17][23]. - The industry is urged to prioritize the import of high-potential products to address supply shortages and enhance domestic production capabilities [23][24]. Group 6: Challenges and Future Directions - The industry faces structural contradictions, including insufficient high-end supply and bottlenecks in key raw materials and technologies [18][20]. - The focus is shifting towards high-quality development, with an emphasis on enhancing product quality and meeting the growing domestic demand for high-performance materials [21][22].