Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) has been actively repurchasing its shares, indicating a strong commitment to enhancing shareholder value and confidence in its stock performance [2][3]. Summary by Category Share Buyback Activity - On December 15, Sinopec repurchased 764,000 shares at a price range of HKD 4.280 to HKD 4.390, totaling HKD 3.306 million [2]. - The stock closed at HKD 4.420 on the same day, reflecting a 1.84% increase with a total trading volume of HKD 10.24 billion [2]. - Since October 30, the company has conducted buybacks for 33 consecutive days, acquiring a total of 131 million shares for a cumulative amount of HKD 57.7 million [2]. - During this period, the stock price has increased by 4.74% [2]. Year-to-Date Buyback Summary - Year-to-date, Sinopec has executed 66 buybacks, acquiring a total of 354 million shares for a total expenditure of HKD 1.643 billion [2]. Detailed Buyback Data - A detailed table of buyback activities shows various dates, number of shares repurchased, highest and lowest prices, and total amounts spent on buybacks, indicating a consistent strategy to support the stock price [3].

回购日期回购均价回购股数回购金额本年累计回购股数2025-12-154.32776.40万330.60万2.64亿2025-12- 124.31367.80万292.43万2.64亿2025-12-114.305254.60万1096.15万2.63亿2025-12-104.325204.00万882.34 万2.60亿2025-12-094.402350.00万1540.60万2.58亿2025-12-084.516120.00万541.90万2.55亿2025-12- 054.50286.00万387.17万2.54亿2025-12-044.497173.20万778.88万2.53亿2025-12-034.523180.00万814.16万 2.51亿2025-12-024.515120.00万541.76万2.49亿2025-12-014.434112.80万500.16万2.48亿2025-11- 284.431925.00万4099.14万2.47亿2025-11-274.470901.00万4027.65万2.38亿2025-11-264.4221100.00万 4863.87万2.29亿202 ...

Group 1 - The establishment of Dongfang Electric Petrochemical Hydrogen Energy (Zigong) Co., Ltd. has been announced, with a registered capital of 87.8 million yuan [1] - The company's business scope includes gas operation, food sales, solar power technology services, new energy technology research and development, and the sale of hydrogen refueling and storage facilities [1] - The shareholders of the company include Dongfang Electric Group Dongfang Boiler Co., Ltd., Sinopec Sales Co., Ltd., and Zigong Anhydrous Port Investment Development Co., Ltd. [1]

中国石油化工股份(00386)发布公告，于2025年12月15日，该公司斥资330.6万港元回购76.4万股股份， 每股回购价格为4.28-4.39港元。 ...

FF305 Next Day Disclosure Return (Equity issuer - changes in issued shares or treasury shares, share buybacks and/or on-market sales of treasury shares) Instrument: Equity issuer Status: New Submission Name of Issuer: China Petroleum & Chemical Corporation Date Submitted: 15 December 2025 Section I must be completed by a listed issuer where there has been a change in its issued shares or treasury shares which is discloseable pursuant to rule 13.25A of the Rules Governing the Listing of Securities on The Sto ...

智通财经APP讯，中国石油化工股份(00386)发布公告，于2025年12月15日，该公司斥资330.6万港元回 购76.4万股股份，每股回购价格为4.28-4.39港元。 ...

格隆汇12月15日丨中国石油化工股份(00386.HK)发布公告，2025年12月15日耗资330.6万港元回购76.4万 股，回购价格每股4.28-4.39港元。 ...

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12月15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 | H 股份類別 | | 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 | | 佔有關事件前的現有已發 | | 每股發行/出售價 (註4) | 已發行股份總數 | | | | 已發行股份（ ...

Core Insights - The "Five Advances" health care service plan has been implemented at the headquarters of China Petroleum & Chemical Corporation (Sinopec), providing various health services to employees during the first snowfall of winter in Beijing [1][3]. Group 1: Health Services Offered - The "Five Advances" plan includes health lifestyle experiences, health screenings, and health consultations tailored to the health needs of Sinopec employees [1]. - A special "Famous Doctor Health Consultation" session was organized, featuring specialists from Peking Union Medical College Hospital who provided one-on-one health advice to employees [2]. Group 2: Future Initiatives - The "Five Advances" plan will continue to collaborate with central authorities, local governments, large enterprises, and authoritative social organizations to promote health services [2]. - The initiative aims to enhance public health awareness and improve the overall health and happiness of the community by engaging in various educational activities across different sectors [2].

1. Report Industry Investment Rating - The investment view on synthetic rubber is bullish [2]. 2. Core View of the Report - The demand for domestic and overseas tires is decent, and the low - price synthetic rubber triggers a substitution effect. The current spread between synthetic rubber and natural rubber has reached a historical low, and there is limited room for the unilateral price of synthetic rubber and the spread between rubber types to continue falling. The BR on the futures market is in a low - valuation range [2]. 3. Summary by Relevant Catalogs 3.1 Market Review - As of December 11, 2025, the ex - factory price of Sinopec's BR9000 was 10,600 yuan/ton, and that of PetroChina's BR9000 was between 10,600 - 10,700 yuan/ton. During the reporting period, the production and capacity utilization rate of high - cis butadiene rubber in China decreased slightly due to the maintenance of plants. The rising spot price of butadiene provided some bottom support for the price of butadiene rubber. Affected by external news such as the conflict between Thailand and Cambodia and the US interest rate cut in the natural rubber market, the low - price offer of the butadiene market gradually increased. However, the spot market had sufficient supply and high theoretical production profit, so downstream buyers resisted high - price offers, and middlemen faced pressure in selling [4]. 3.2 Factors Affecting Butadiene Rubber 3.2.1 Supply - Last week, the domestic butadiene production was [unspecified] tons with a capacity utilization rate of [unspecified]%, and the high - cis butadiene rubber production was [unspecified] tons with a capacity utilization rate of [unspecified]%. In the butadiene segment, plants of Nanjing Chengzhi, Sierbang, Yanshan Petrochemical, and Guangzhou Petrochemical remained shut down, and some plants of Shanghai Petrochemical, Maoming Petrochemical, and Sinochem Quanzhou Petrochemical carried out maintenance, leading to a decline in production. In the butadiene rubber segment, Yulong Petrochemical restarted production, and the supply of high - cis butadiene rubber in China remained sufficient [2]. 3.2.2 Demand - In the semi - steel tire market, trading was dull, and prices were weak. Some enterprises offered discounts to boost purchases, but the effect was limited as demand was flat, and agents mainly digested existing inventories and postponed replenishment. In the all - steel tire market, the market was cold, and it was the off - season. The trading volume further weakened, with the southern region performing better than the northern region. Sales in many southern regions decreased by about 15%, and some areas in the northwest and northeast saw a sharp decline. Agents had sufficient inventories and low purchasing enthusiasm [2]. 3.2.3 Inventory - Last week, the butadiene port inventory was 411,000 tons, a 13.11% week - on - week decrease; the inventory of high - cis butadiene rubber enterprises and traders was 323,300 tons, a 0.34% week - on - week decrease. The enterprise inventory of butadiene decreased by 8.22% week - on - week, and the port inventory decreased by 12.65% week - on - week. For butadiene rubber, due to continuous price - pressing by downstream buyers, the production enterprise inventory increased, while the trading enterprise inventory decreased slightly [2]. 3.2.4 Basis - The basis of butadiene rubber in North China was - 670 yuan/ton, in East China was - 520 yuan/ton, and in South China was - 470 yuan/ton [2]. 3.2.5 Spread/Price Ratio - The RU - BR spread was 4,510 yuan/ton (a 3.11% decrease), the NR - BR spread was 1,610 yuan/ton (a 1.53% decrease), and the BR - SC price ratio was 0.77% [2]. 3.2.6 Profit - The production gross profit of butadiene through oxidative dehydrogenation was - 1,764 yuan/ton, and that through C4 extraction was 202.23 yuan/ton. The production gross profit of butadiene rubber was 787 yuan/ton, with a gross profit margin of 8.02% [2]. 3.2.7 Geopolitical and Macroeconomic Factors - The IEA raised the global oil demand growth forecast for 2026 and narrowed the supply surplus forecast slightly. OPEC+ slightly increased crude oil production in November and maintained the global oil demand growth forecast for 2025 and 2026. The Central Economic Work Conference emphasized the continuation of a moderately loose monetary policy, efforts to stabilize the real estate market, and the implementation of a special consumption - boosting action. The Fed cut interest rates in December, and the expectation of further rate cuts increased. The conflict between Thailand and Cambodia reignited, and the impact of weather disturbances declined [2]. 3.3 Trading Strategies - Unilateral trading: No specific strategy. Arbitrage: Pay attention to going long on BR and short on NR/RU. Key risks to monitor include downstream demand, cost changes, plant maintenance, and geopolitical situations [2]. 3.4 Price Data - The report provides detailed price data of synthetic rubber, natural rubber, and related products, including ex - factory prices, market prices, and their daily and weekly changes [6][7]. 3.5 Plant Maintenance Data - The report lists the maintenance data of butadiene and high - cis butadiene rubber plants in China in 2025, including the production enterprises, maintenance capacities, shutdown times, and startup times [9]. 3.6 Market Seasonal Charts - The report presents multiple seasonal charts, such as the BR spread and basis seasonal charts, butadiene price seasonal charts (domestic and international), production and inventory seasonal charts of butadiene, butadiene rubber, and styrene - butadiene rubber, as well as production, start - up, and inventory seasonal charts of downstream products like tires and conveyor belts [10][26][31]