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market share, with an annual production capacity of 24 million tons, although the production process mainly relied on outdated fixed bed technology [1].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].

Group 1: Global Propylene Supply Pattern - The global propylene production is concentrated in Northeast Asia, North America, and Western Europe. Northeast Asia is the largest production region, with a 48.1% share of the world's total capacity in 2024, and China accounts for 39.4%. North America and Northeast Asia together account for 65.6% of the global capacity. Western Europe has a 9% share, and has been a net importer since 2021. The Middle East and Southeast Asia also have propylene production, with shares of 7.4% and 6.5% respectively [1]. - The global propylene production capacity had a compound growth rate of 5.9% from 2020 - 2024. Over 14 million tons/year of new capacity is planned from 2025 - 2027, and the capacity is expected to reach 196 million tons by 2030, with major increments in Northeast Asia, North America, and Southeast Asia [1]. Group 2: Global Major Propylene Producers Head - enterprises - Sinopec has a propylene capacity of about 13 million tons/year, accounting for 7.6% of the global total, ranking first globally. It uses mainly naphtha cracking (60%) and is accelerating the layout of PDH. Over 2 million tons/year of new PDH capacity was added in 2024. More than 50% of its propylene is consumed domestically, and it exports through Southeast Asia [4]. - PetroChina has a total propylene capacity of about 6.76 million tons/year as of 2024, accounting for 4.0% of the global total, ranking second. About 85% of its capacity comes from naphtha cracking. Its future competitiveness depends on high - end product R & D, PDH technology penetration, and low - carbon transformation [4]. - LyondellBasell has a capacity of about 5 million tons/year, ranking third globally. It has production bases in North America, Rotterdam in Europe, and Singapore in Asia. It is the world's largest polypropylene producer, and its propylene is mainly used for high - end derivatives with 15% - 20% higher added value [5]. - Saudi Aramco has a capacity of about 4.8 million tons/year, ranking fourth. It has a core device in the Jubail Petrochemical Park. It exports products, accounting for 12% of the global propylene exports, and plans to expand the Zhejiang Petrochemical project with Rongsheng Petrochemical in 2026, adding 1 million tons/year of propylene capacity [5]. Regional leaders - INEOS has a capacity of about 3.8 million tons/year, being the largest propylene producer in Europe. It uses mainly steam cracking (70%) and supplies the European automotive and packaging industries, and also radiates the North American market [6]. - BASF has a capacity of about 3 million tons/year, ranking fifth globally. It投产 the first bio - based propylene plant in Europe in 2024, aiming for a 15% bio - based raw material share by 2030 [6]. - ExxonMobil has a capacity of about 2.8 million tons/year, ranking sixth globally, with production bases in the US, Singapore, and China [6]. Emerging Asian forces - Zhongjing Petrochemical has a capacity of 2.8 million tons/year, being the world's largest single - plant propylene producer. It uses all PDH processes and targets over 30% market share in the domestic PP powder market and exports to Vietnam and Indonesia [8]. - Wanhua Chemical has a capacity of about 1.8 million tons/year, ranking among the top ten globally. Its propylene is mainly used for high - end products such as POE and MDI [8]. Group 3: China's Propylene Capacity Development Structural over - supply and slowing growth - China's propylene capacity had a compound growth rate of 14.34% from 2020 - 2024, adding 29.12 million tons. From 2025 - 2030, the planned new capacity is 22.15 million tons/year, with a compound growth rate of 5.29%, showing a significant slowdown [9]. Increasing industry concentration - In 2024, there were 189 propylene producers in China, with 13 enterprises having an annual capacity of over 1 million tons, accounting for 6.88%. The CR10 enterprise capacity accounted for 22.77%. In the next 5 years, the industry will continue to develop in a diversified, integrated, and large - scale manner [11]. Process route competition and regional development - China has diverse propylene production processes, including naphtha cracking, propane dehydrogenation (PDH), methanol - to - olefins, and catalytic cracking. PDH has developed rapidly and impacted the market share of naphtha cracking. PDH capacity is mainly distributed in coastal areas [13]. - From 2020 - 2024, East China's propylene capacity increased by 8.56 million tons, with an average annual compound growth rate of 14%. Shandong's capacity increased by 7.81 million tons, with an average annual compound growth rate of 21% [15]. Declining import dependence and commodification rate - China's propylene import dependence has declined from 14.1% in 2014 to 3.3% in 2024 and is expected to further decrease. The commodification rate is also expected to decline to 13.3% in 2025, with the commodity volume expected to drop to 7.9 million tons [17].

Core Viewpoint - The article emphasizes Sinopec's commitment to its brand philosophy of "Energy to Clean, Life to Beautiful," showcasing its efforts in green development and sustainable practices in overseas markets, particularly in Singapore and Australia [1][12]. Group 1: Singapore Operations - Sinopec's brand philosophy is deeply integrated into the work and life of its employees in Singapore, exemplified by the experiences of employee Zhang Susu [3]. - Singapore's green transformation is evident in various aspects of daily life, with Sinopec's green initiatives contributing to this development through high-quality lubricants that ensure efficient energy use and reduced environmental impact [5]. - The production of lubricants at Sinopec involves stringent quality control measures, ensuring that every drop meets high standards, which supports Singapore's green development goals [5]. Group 2: Australia Operations - In Australia, Sinopec's brand philosophy is being implemented across various sectors, including mining, transportation, and manufacturing, with a focus on building brand recognition and trust [6][8]. - Sinopec's lubricants have been proven to enhance operational efficiency and reduce waste oil generation, aligning with local government initiatives for environmental protection [8][9]. - The establishment of a new Perth operation center that utilizes advanced solar power and waste recycling technologies positions Sinopec as the only zero-carbon lubricant supplier in the Australian market [11]. Group 3: Commitment to Sustainability - Sinopec's commitment to sustainability is reflected in its product offerings, such as biodegradable lubricants, which contribute to measurable reductions in emissions for clients [11]. - The company aims to continue its global expansion while adhering to its brand philosophy, fostering innovation and collaboration to promote a cleaner and more beautiful world [12].

Group 1 - The article highlights the significant investment activities of state-owned enterprises (SOEs) in strategic emerging industries, with a focus on the establishment of various funds to support innovation and industrial upgrades [1][2][3] - China Guoxin has set up a special fund for strategic emerging industries with a total scale of 60 billion yuan, aiming to invest in over 300 projects by May 2025, with nearly 80% of the investment directed towards strategic emerging industries [1] - The China National Petroleum Corporation (CNPC) has launched the largest hydrogen industry chain investment fund in China, with an initial scale of 5 billion yuan, focusing on key materials and technologies in the hydrogen sector [2] Group 2 - Local state-owned capital is increasingly forming innovative ecosystems through various investment funds, such as the establishment of a 5 billion yuan strategic seed fund in Shenzhen to support AI terminal industries [3][4] - The Shanghai state-owned capital has announced a new batch of sub-funds with a total investment amount of 4.15 billion yuan, aimed at enhancing the development of strategic emerging industries [3] - The article discusses the implementation of a tolerance mechanism for investment losses, allowing for up to 100% loss in certain projects, which encourages SOEs to invest in high-risk, long-term technology ventures [4]

Core Viewpoint - The successful operation of Sichuan Petroleum's first self-built hydrogen refueling station at Chengdu Tianfu Airport marks a significant step in the development of hydrogen energy in the region, contributing to the green and low-carbon economy of the Chengdu-Chongqing economic circle [1][5]. Group 1: Company Developments - Sichuan Petroleum has successfully launched its first hydrogen refueling station, which can provide hydrogen for approximately 31 hydrogen-powered buses or 19 logistics vehicles daily, with a daily hydrogen supply capacity of 500 kilograms [5]. - The company has established a total of six hydrogen refueling stations, leading the province in terms of quantity, and is actively expanding its hydrogen energy infrastructure [5][6]. - China Petroleum aims to become the "largest hydrogen energy company in China," leveraging its network of refueling stations to promote the construction of hydrogen corridors [8]. Group 2: Industry Trends - Sichuan has been proactive in developing the hydrogen industry since 2010, achieving a comprehensive layout of the hydrogen energy industry chain and leading in technology, products, and application promotion [6]. - The national policy framework supports the growth of the hydrogen industry, with the 2024 government work report emphasizing the acceleration of hydrogen energy and related technologies [10]. - The upcoming 2025 World Hydrogen Industry Expo and related events are expected to enhance collaboration among enterprises and inject new momentum into the high-quality development of the hydrogen industry [10].

Group 1 - China Petroleum & Chemical Corporation (Sinopec) has officially entered the instant retail sector in Hubei province with the launch of its first "Easy Purchase" store in Xiangyang [1] - The "Easy Purchase" store features over 260 square meters of warehouse-style space and offers more than 6,000 products, including staple foods, snacks, daily necessities, and local specialties [1] - During the opening event, some products were priced as low as 0.01 yuan, and orders exceeding 9.9 yuan qualified for delivery, with over 200 orders placed on the first day, 90% of which were within a 3-kilometer radius [1] Group 2 - In addition to the instant retail launch, Sinopec also opened two comprehensive service stations and 13 "Easy Coffee" shops at various locations in Xiangyang, providing vehicle maintenance, car washing, and beauty services [3] - The company has introduced a new strategy called "Car Ecosystem" and "Home Life," offering a one-stop service for vehicle care and exploring differentiated services such as dining, coffee, laundry, and home cleaning to meet consumer demands for convenience and immediacy [4] - Sinopec aims to establish a "30-minute living service circle" using the "Easy Purchase" platform, with plans to expand new service formats to more cities within the year [4]

Group 1 - The State Intellectual Property Office of China has published a patent application titled "Method and Device for Measuring the Acidity of Molecular Sieves" by China Petroleum & Chemical Corporation (Sinopec), Sinopec Nanjing Chemical Research Institute Co., Ltd., and Sinopec Group Nanjing Chemical Industry Co., Ltd. The application was filed on December 2023 [1] - The patent describes a method that involves adsorbing a test gas onto a molecular sieve sample, followed by temperature-programmed desorption to obtain optical intensity data during the desorption process. This data is used to characterize the acidity strength of the molecular sieve sample [1] Group 2 - China Petroleum & Chemical Corporation, established in 2000 and based in Beijing, primarily engages in oil and natural gas extraction. The company has a registered capital of approximately 12.17 billion RMB and has invested in 263 companies, participated in 5,000 bidding projects, and holds 5,000 patents [1] - Sinopec Nanjing Chemical Research Institute Co., Ltd., founded in 1994 and located in Nanjing, focuses on wholesale activities with a registered capital of 80 million RMB. The company has invested in 3 enterprises, participated in 461 bidding projects, and holds 1,649 patents [2] - Sinopec Group Nanjing Chemical Industry Co., Ltd., established in 1985 and also based in Nanjing, specializes in rubber and plastic products with a registered capital of approximately 2.4 billion RMB. The company has invested in 16 enterprises, participated in 5,000 bidding projects, and holds 569 patents [2]

Core Insights - The floating photovoltaic project at Qingdao Refinery marks China's first industrialized operation of a floating solar power station in a fully seawater environment, with an annual power generation capacity of 16.7 million kilowatt-hours and a CO2 reduction of 14,000 tons, equivalent to the carbon absorption of 750,000 trees [1] - The project utilizes innovative floating support structures that enhance wind and wave resistance while improving overall power generation efficiency by approximately 5% to 8% through natural seawater cooling [1][3] - The project is part of a broader strategy by Sinopec to integrate clean energy solutions, including the establishment of a "clean electricity + green hydrogen" model, which supports the development of green hydrogen refining and hydrogen transportation applications [2] Project Details - The floating photovoltaic station occupies about 60,000 square meters with an installed capacity of 7.5 megawatts, showcasing zero pollution and strong economic viability [1] - The project team has developed three key innovations: a specialized floating system resistant to salt corrosion and marine biofouling, an intelligent anchoring system capable of withstanding severe weather conditions, and efficient operation and maintenance designs that reduce costs [3] - Future plans include the expansion of the floating photovoltaic capacity to 23 megawatts, further enhancing renewable energy supply capabilities at the Qingdao Refinery [2] Industry Positioning - Sinopec is actively pursuing a clean and low-carbon transformation, aiming to build a diversified energy supply system while enhancing the clean utilization of fossil fuels [2] - The company has launched the "Ten Thousand Stations Sunlight" initiative, targeting the establishment of 10,000 solar power stations by 2027, and has a leading position in the geothermal heating sector with 120 million square meters of heating area [4] - Sinopec has built and operated 144 hydrogen refueling stations, making it the company with the most operational hydrogen stations globally, and is advancing green hydrogen manufacturing projects [4]

华夏能源网&华夏油气（公众号hxyq3060）获悉，6月30日，中国石油化工股份有限公司（以下简称"中 国石化"，SH：600028）公告称，董事会收到马永生的辞职报告。 | 姓名 | 离任职务 | 离任时间 | 原定任期 到期日 | 离任 原因 | 是否继续 在公司及 其控股子 | 具体职 务(如 适用) | 是否存 在未履 行完毕 的公开 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | | 公司任职 | | | | | | | | | | | 承诺 | | 侯启军 | 董事、副董事 | 2025 年 6 | 2026 年 6 | 工作 | 否 | 不适用 | 否 | | | 长、投资与发 | 月 30日 | 月7日 | 变动 | | | | | | 展委员会主任 | | | | | | | | | 委员 | | | | | | | 华夏能源网注意到，6月27日，侯启军刚刚升任中国石化母公司中国石油化工集团有限公司（以下简 称"中石化集团"）董事长、党组书记。（此前报道：《重磅丨中石油总经理侯启军调任中石化董事 长》）。 未来，侯启 ...