Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) announced a share buyback plan, indicating confidence in its stock value and commitment to returning capital to shareholders [1] Group 1: Share Buyback Details - The company plans to repurchase 2.546 million shares at a total cost of HKD 10.9615 million [1] - The buyback price per share ranges from HKD 4.28 to HKD 4.37 [1]

Core Viewpoint - The Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) experienced net redemptions of 1.0028 million yuan on December 10, ranking 26th out of 200 in cross-border ETF net outflows [1] Group 1: Fund Performance - As of December 10, the latest scale of the Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) is 685 million yuan, down from 689 million yuan the previous day, indicating a net outflow of 0.15% of the previous day's scale [1] - Over the past 5 days, the fund faced net redemptions of 1.004 million yuan, ranking 35th out of 200 in cross-border ETF net outflows [1] - In the last 10 days, the total net redemptions reached 24.6445 million yuan, ranking 17th out of 200 [1] - Over the past 20 days, net redemptions amounted to 30.8908 million yuan, ranking 26th out of 200 [1] Group 2: Fund Management and Holdings - The fund is managed by Liu Tingyu and Cai Leping, with Liu managing since July 23, 2025, achieving a return of 0.97%, while Cai has managed since November 5, 2025, with a return of -1.81% [2] - The latest report indicates that the top holdings of the fund include China COSCO Shipping, China Nonferrous Mining, China National Offshore Oil, and others, with respective holding percentages and market values detailed [2] Group 3: Comparative Analysis - The fund's scale and liquidity are compared with other ETFs tracking the same index, showing that the Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159266) has a scale of 6.85 billion yuan and a recent average daily trading volume of 0.20 million yuan [2] - Other ETFs in the same category include Huaxia, Wanji, and Tianhong, with varying scales and recent net subscription figures [2]

石化ETF（159731）及其联接基金（017855/017856）紧密跟踪中证石化产业指数，从申万一级行业分 布来看，基础化工行业占比为60.39%，石油石化行业占比为32.71%，随着石化产业淘汰落后产能和加 强技术创新，产业链的价值将进一步提升。 每日经济新闻 12月11日早盘，石化ETF（159731）震荡走强，盘中一度涨超0.8%，持仓股坤彩科技、藏格矿业、云天 化、盐湖股份等涨幅居前。 近日，中国石油成功建立分子管理技术体系，分子管理是石油石化领域的基础性、颠覆性技术。中国石 油初步形成了石油分子表征与工艺模拟优化一体化解决方案，在分子管理技术领域取得了突破性进展。 国泰海通称，可将关注的石化行业上市公司分为四个子板块：油气资源、油服设备、石油化工以及下游 材料。其中，（1）上游油气资源板块盈利同比下滑，但依旧保持一定的盈利规模；（2）油服设备板块 归母净利润同比保持正增长；（3）石化板块整体盈利同比提升；（4）下游材料领域中光伏胶膜、碳纤 维、合成生物学、可降解塑料、喷墨材料盈利同比大幅改善。 ...

来源：科技日报 科技日报记者 马爱平 记者10日从中国绿化基金会全民义务植树官网获悉，截至目前，作为中国石油"绿色碳中和行动"重要组 成部分的"我为碳中和种棵树"公益活动线上募集资金总额超5750万元，该活动已连续三年位居全民义务 植树网络募资额度与参与人数双第一。 据悉，该公益活动是由中国石油与中国绿化基金会共同发起，于2022年3月在全民义务植树网上线。募 集的公益资金用于集中建设碳汇林或碳中和林，也用于中国石油开展生物多样性保护、林草碳汇相关课 题研究、自然科普教育等。 据介绍，该公益活动已在大庆、塔里木等油田建成5座绿色共享小屋，系统开展生物多样性科普教育， 并探索出"保护地+共享小屋+综合监测+志愿服务队"的生物多样性保护新模式。其中，共享小屋集科研 展示、科普互动、标本陈列与花艺鉴赏于一体，设有微观生态模拟、本土动植物标本、油田花卉苗木、 野生动植物等多功能展示区，并引入人造鸟巢、昆虫旅馆等生态友好设施。同时，组建9支共135人的志 愿服务队，负责小屋科普讲解和保护地巡查工作。 截至2025年，该公益活动已建成大庆会战林、石油摇篮林等多个造林基地，总面积约5400亩。在大庆油 田老虎山、果午湖及华 ...

Core Viewpoint - The collaboration between China National Petroleum Corporation (CNPC) and Xijiu Group represents a significant step in integrating state-owned enterprises with local industries, fostering regional economic development and innovation in the liquor industry [2][3][29]. Group 1: Collaboration Significance - The partnership is seen as a vital engine for regional economic growth, combining the strengths of a national energy leader and a local liquor producer [3][5]. - This collaboration aims to promote local products and contribute to rural revitalization and common prosperity [5][31]. - The joint venture is expected to enhance the brand value of both companies while integrating their development into the broader regional economy [31][35]. Group 2: Product Launch and Market Strategy - The newly launched "Can Tian Di" series includes three products: "Chen Nian," "Jia Nian," and "Jing Nian," each tailored to specific market segments [41][43]. - "Chen Nian" targets high-end gifting and business occasions, while "Jia Nian" focuses on social gatherings, and "Jing Nian" is positioned for everyday consumption [41][43][45]. - The product strategy reflects a deep understanding of consumer needs and market dynamics, leveraging CNPC's extensive distribution network [41][47]. Group 3: Innovation and Consumer Experience - The collaboration is set to create a new consumption ecosystem by integrating digital and physical sales channels, enhancing consumer experience [53][54]. - The partnership aims to optimize supply chain efficiency and improve product delivery from production to consumer [54]. - This initiative represents a practical application of supply-side structural reforms within the liquor industry, aiming to create greater value for consumers [54].

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 12月11日，日前，中石油好客习酒供应链（贵州）有限公司揭牌仪式暨参天地新品发布会举办，而这也 是习酒与中石油成立的首家合资公司。据天眼查App显示，该公司大股东为中国石油天然气集团有限公 司，持股比例为82.17%；贵州习酒投资控股集团有限责任公司持股18%，经营范围包括酒类经营、第二 类增值电信业务、食品销售、日用百货销售等。 责任编辑：杨赐 新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 12月11日，日前，中石油好客习酒供应链（贵州）有限公司揭牌仪式暨参天地新品发布会举办，而这也 是习酒与中石油成立的首家合资公司。据天眼查App显示，该公司大股东为中国石油天然气集团有限公 司，持股比例为82.17%；贵州习酒投资控股集团有限责任公司持股18%，经营范围包括酒类经营、第二 类增值电信业务、食品销售、日用百货销售等。 | 中石 中石油好客习酒供应链(贵 *** | | | --- | --- | | 肥 | 州) 有限公司 | | ◎ 6万+ | 91520390MA6H1T1E90 发票抬头 | | 存续,曾用名,国有控股, 小微企业, ...

Core Insights - China's domestic crude oil production is experiencing significant growth, with national output projected to rise from 3.8 million b/d in 2020 to an average of 4.3 million b/d in 2025, marking a roughly 12% increase driven by accelerated drilling and restructuring of the upstream sector [5][11] - The restructuring of China's upstream began in 2020, transitioning to a market-oriented bidding framework for mining and hydrocarbon rights, allowing private companies to participate alongside state-owned enterprises [4] Group 1: Company Performance - CNOOC is leading in output growth, increasing production from 690,000 b/d in 2020 to about 900,000 b/d by 2025, supported by extensive offshore acreage [1] - PetroChina is the largest oil producer, averaging 2.5 million b/d in 2025, with a significant focus on unconventional exploration across various basins [2] - Sinopec is also expanding its production, with a target of 600,000 b/d in 2025, maintaining a strong presence in both onshore and offshore operations [1][2] Group 2: Regional Developments - Tianjin has seen the largest regional output increase, rising from 632,000 b/d in 2020 to 785,000 b/d in 2025, while Xinjiang's production increased from 571,000 to 649,000 b/d [3] - Heilongjiang's output has slightly decreased from 604,000 to 579,000 b/d, indicating challenges in maintaining production levels in mature fields [3] Group 3: Exploration and Discoveries - CNOOC's Bozhong 26-6 discovery in 2023 is notable for its rapid transition from discovery to production, estimated at 200 million m³ of oil and gas [6] - PetroChina confirmed 1.15 billion barrels of shale oil in place in the Gulong zone, with expected peak production of 130,000–140,000 b/d [6] - Sinopec's Qiluye-1 well in the Sichuan Basin has tested commercially viable shale oil and gas, indicating significant potential in Southwest China [6] Group 4: Market Dynamics - Despite increased domestic production, China's crude imports have remained steady at 10.5 million b/d since 2023, covering around 70–75% of total consumption [8][9] - The refining system in China is designed to process specific imported crude grades, ensuring continued reliance on foreign oil despite domestic production increases [9] Group 5: Future Outlook - China is expected to enter 2026 with a stronger domestic production base and continued momentum in unconventional and offshore exploration [10] - CNOOC is projected to add another 40,000 b/d in 2026, while PetroChina faces challenges as its resource base has shrunk by a net 200 million barrels in the past three years [10] - The trajectory of China's oil production remains upward, with potential for further increases as companies pursue ambitious drilling targets [11]

中国石油化工股份(00386)发布公告，于2025年12月10日，该公司斥资882.34万港元回购204万股。 ...

证券时报·数据宝统计，中国石油化工股份在港交所公告显示，12月10日以每股4.300港元至4.380港元的 价格回购204.00万股，回购金额达882.34万港元。该股当日收盘价4.340港元，下跌1.14%，全天成交额 5.60亿港元。 自10月30日以来公司已连续30日进行回购，合计回购1.27亿股，累计回购金额5.60亿港元。 其间该股累 计上涨2.84%。 今年以来该股累计进行63次回购，合计回购3.50亿股，累计回购金额16.26亿港元。 中国石油化工股份回购明细 日期回购股数(万股) 回购最高价(港元) 回购最低价(港元) 回购金额(万港元) 2025.12.10 204.00 4.380 4.300 882.34 2025.12.09 350.00 4.500 4.370 1540.60 2025.12.08 120.00 4.540 4.490 541.90 2025.12.05 86.00 4.520 4.480 387.17 2025.12.04 173.20 4.540 4.480 778.88 2025.12.03 180.00 4.560 4.500 814.16 2025.12.0 ...

中国石油化工股份回购明细 | 日期 | 回购股数（万股） | 回购最高价（港元） | 回购最低价（港元） | 回购金额（万港元） | | --- | --- | --- | --- | --- | | 2025.12.10 | 204.00 | 4.380 | 4.300 | 882.34 | | 2025.12.09 | 350.00 | 4.500 | 4.370 | 1540.60 | | 2025.12.08 | 120.00 | 4.540 | 4.490 | 541.90 | | 2025.12.05 | 86.00 | 4.520 | 4.480 | 387.17 | | 2025.12.04 | 173.20 | 4.540 | 4.480 | 778.88 | | 2025.12.03 | 180.00 | 4.560 | 4.500 | 814.16 | | 2025.12.02 | 120.00 | 4.550 | 4.450 | 541.76 | | 2025.12.01 | 112.80 | 4.460 | 4.410 | 500.16 | | 2025.11.28 | 925.00 ...