Group 1 - The Hong Kong stock market saw a collective surge in the "Big Three Oil" companies, with China Petroleum & Chemical Corporation (00857.HK) rising over 3% [1] - China National Offshore Oil Corporation (00883.HK) and China Petroleum & Chemical Corporation (00386.HK) both experienced gains of over 1% [1]

人民网内罗毕5月30日电（记者黄炜鑫）乌干达坎帕拉消息：5月30日，中国海油绩优奖学金项目在乌干达霍伊马地区政府办公楼启动。此次活动由中国 海洋石油乌干达有限公司举办，向来自乌干达霍伊马地区和基库贝地区39所中小学的300名优秀学生（含 6 名残疾学生）颁发证书及现金奖励，鼓励并支持 他们更好地完成学业。 中国海洋石油乌干达有限公司副总裁王聚锋在致辞中表示，作为中国在乌干达最大投资项目的运营主体，公司以"能源为更美好的未来"为愿景，在推进 翠鸟油田项目建设的同时，积极落实共建"一带一路" 倡议及中非合作论坛"十大伙伴行动"，形成"能源开发+民生改善"的特色合作模式。"我们不仅要在油气 田上竖起钻井架，更要在当地民众心中种下友谊的种子。绩优奖学金项目将帮助乌干达的青少年更好地成长，我们坚信中乌友好将拥有更坚实的民意基础和 更广阔的未来。" 据了解，绩优奖学金项目是中国海油在乌"捐资助学强基工程"的一部分，该公司还通过国际留学生项目，资助11名乌干达青年到中国石油高校学习，目 前正在向当地11所学校捐赠图书、家具及学习用品，促进教学条件改善。该公司同步推动的"创造就业赋能工程"将为乌干达创造16万个就业岗位；"民 ...

人民网迪拜5月31日电 （记者管克江）当地时间5月30日，中国海油中东区域各单位在位于迪拜 的"中东之家"基地举办了端午节文化交流主题活动。 人力资源主管维姆鲁什说，学习包粽子的过程紧张而欢乐，更重要的是不同国籍的同事通过中国古 老的传统节日联结在一起，分享彼此的喜悦和故事，从而增进了友谊和团结。负责公关业务的马塞尔 说，端午节让大家感受到中华文化的凝聚力，期待参加更多的文化交流活动，更多了解中国。 中国海油中东区域首席代表李锋表示，此次活动拉近了中外员工的距离，也加深了各海外公司之间 的交流。未来，中国海油将继续以文化为纽带，不断拓展海外员工对中华文化的理解与认同，讲好中国 故事，传播中国声音。 中企外籍员工在学包粽子。人民网记者 管克江摄 活动现场，中外籍同事共同参与包粽子体验。红枣馅、牛肉馅、蛋黄馅等琳琅满目的各式粽子摆满 操作台，大家一边包粽子，一边交流了解端午节的起源和习俗。除包粽子外，活动还特别准备了多种口 味的串串香等中国传统小吃。 来自哈萨克斯坦的员工阿雅说，此次参加端午主题活动，对她而言是一次难忘的文化体验。她 说："中国文化不仅体现在美味的粽子、精彩的龙舟这些形式，更在于代代相传的精神内涵 ...

Core Viewpoint - The article emphasizes the pivotal role of state-owned enterprises (SOEs) in leading the hydrogen energy sector, highlighting their contributions to the energy revolution and the strategic importance of hydrogen in China's energy landscape [2][8]. Group 1: National Strategy - The hydrogen industry is entering a critical phase of large-scale development, with over 60 countries announcing hydrogen strategies. China has included hydrogen in its Energy Law, with 22 provinces incorporating it into government work reports. The "Medium- and Long-term Planning for Hydrogen Industry Development (2021-2035)" sets a target of 100,000 to 200,000 tons of renewable hydrogen production by 2025 [3]. - SOEs are central to implementing national strategies, with projects like "wind-solar hydrogen + hydrogen-based fuel synthesis" by the National Energy Group in Inner Mongolia and Ningxia, and a million-kilowatt wind-solar hydrogen project by State Power Investment Corporation in Jilin [3]. Group 2: SOE Responsibilities - The report highlights the importance of technological breakthroughs across the entire hydrogen value chain, with SOEs demonstrating strong capabilities in equipment autonomy and technological integration. For instance, the Aerospace Science and Technology Corporation developed a 5 tons/day hydrogen expansion liquefaction system with 100% domestic components [4]. - The China Petroleum and Chemical Corporation initiated a hydrogen pipeline demonstration project, laying the groundwork for cross-regional hydrogen distribution. Additionally, various hydrogen-powered vehicles and systems have been developed, showcasing the innovation capabilities of SOEs [4]. Group 3: Scene Implementation - In 2024, hydrogen energy will see widespread pilot projects in industrial, transportation, and power sectors, with SOEs leading innovation. For example, Baowu Steel's hydrogen-based blast furnace project significantly reduces CO2 emissions in metallurgy [5]. - The National Energy Group's renewable hydrogen coupling with coal-based ammonia project aims to reduce CO2 emissions by 200,000 tons annually, providing a reference for carbon transition in the coal chemical industry [5]. Group 4: Global Perspective - China's hydrogen industry is shifting from technology importation to equipment exportation, with successful international projects such as the world's longest liquid hydrogen maritime transport demonstration by China National Offshore Oil Corporation [6]. - The State Grid is leading the development of international standards for fuel cell systems, enhancing China's influence in the global hydrogen sector [7]. Group 5: Future Challenges - The "China Hydrogen Development Report (2025)" serves as both a report card on industry progress and a task list for SOEs. The focus will be on expanding renewable hydrogen production capacity and overcoming technological challenges in electrolysis and fuel cells [8]. - By 2025, with ongoing policy support and technological advancements, SOEs are expected to play a crucial role in achieving large-scale hydrogen development, contributing to national energy security and global climate governance [8].

5月30日恒生指数下跌1.20%，报收23289.77点，全天南向资金通过港股通渠道合计净买入96.47亿港 元。 深市港股通前十大成交活跃股中，成交额居首的是阿里巴巴-W，成交金额21.12亿港元；其次是小米集 团-W、石药集团，成交金额分别为18.77亿港元、13.44亿港元。以净买卖金额统计，有7只股为净买 入，净买入金额最多的是理想汽车-W，净买入4.01亿港元，该股收盘上涨3.79%。净卖出金额最多的是 盈富基金，净卖出8.86亿港元，收盘股价下跌1.17%。（数据宝） 证券时报·数据宝统计，5月30日港股通全天合计成交金额为948.53亿港元，成交净买入96.47亿港元。具 体来看，沪市港股通成交金额624.01亿港元，成交净买入81.67亿港元；深市港股通成交金额324.52亿港 元，成交净买入14.79亿港元。 成交活跃股方面，沪市港股通前十大成交活跃股中，阿里巴巴-W成交额为40.79亿港元，成交金额居 首；其次是腾讯控股、小米集团-W，成交金额分别为35.79亿港元、26.11亿港元。以净买卖金额统计， 美团-W净买入额为17.38亿港元，净买入金额居首，该股收盘股价下跌1.50%。净卖出 ...

Core Points - The Hong Kong Fundamental 50 Index (H11110) experienced a decline of 0.57%, closing at 2024.18 points with a trading volume of 88.877 billion yuan [1] - Over the past month, the index has increased by 5.23%, 2.50% over the last three months, and 10.55% year-to-date [1] - The index selects the 50 companies with the highest fundamental value from the Hong Kong market, using a fundamental value-weighted calculation to mitigate the impact of overvalued securities typically found in traditional market-capitalization indices [1] Company Holdings - The top ten holdings of the Hong Kong Fundamental 50 Index are: - China Construction Bank (15.8%) - China Mobile (7.5%) - HSBC Holdings (6.62%) - Tencent Holdings (5.13%) - Industrial and Commercial Bank of China (5.01%) - Alibaba Group (4.6%) - Bank of China (4.02%) - China Unicom (3.87%) - CNOOC (3.21%) - Ping An Insurance (2.62%) [1] Sector Allocation - The sector allocation of the index is as follows: - Financials: 44.71% - Communication Services: 20.38% - Real Estate: 10.74% - Energy: 6.48% - Consumer Discretionary: 6.25% - Information Technology: 3.61% - Utilities: 2.49% - Health Care: 1.61% - Materials: 1.31% - Consumer Staples: 1.23% - Industrials: 1.20% [2] Index Adjustment - The index samples are adjusted annually, with changes implemented on the next trading day following the second Friday of June [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2]

深港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 阿里巴巴-W(09988) | 21.12 亿元 | +1.15 亿元 | | 小米集团-W(01810) | 18.77 亿元 | +1.73 亿元 | | 石药集团(01093) | 13.44 亿元 | +3.70 亿元 | | 腾讯控股(00700) | 12.27 亿元 | -6024.10 万元 | | 众安在线(06060) | 10.23 亿元 | +5290.10 万元 | | 美团-W(03690) | 9.60 亿元 | +1.83 亿元 | | 理想汽车-W(02015) | 9.59 亿元 | +4.01 亿元 | | 盈富基金(02800) | 8.89 亿元 | -8.86 亿元 | | 中芯国际(00981) | 6.34 亿元 | -1.44 亿元 | | 泡泡玛特(09992) | 5.37 亿元 | +1.27 亿元 | 智通财经APP获悉，2025年5月30日当天，阿里巴巴-W(09988)、腾讯控股(00700)、小米集团-W(01810) 位居沪 ...

Core Viewpoint - The China Securities Hong Kong 300 Upstream Index (H300 Upstream) has shown significant growth, with a 8.71% increase over the past month, 10.63% over the past three months, and a 5.02% increase year-to-date [2]. Group 1: Index Performance - The H300 Upstream Index is currently reported at 2474.02 points, reflecting a strong upward trend [1]. - The index is based on a sample of securities selected from the China Securities Hong Kong 300 Index, representing the overall performance of various thematic securities listed on the Hong Kong Stock Exchange [2]. Group 2: Index Composition - The top ten holdings of the H300 Upstream Index include: - China National Offshore Oil Corporation (29.31%) - PetroChina Company Limited (12.7%) - China Shenhua Energy Company (10.38%) - Zijin Mining Group (9.79%) - Sinopec Limited (9.47%) - China Hongqiao Group (3.57%) - China Coal Energy Company (3.32%) - Zhaojin Mining Industry Company (3.14%) - Yanzhou Coal Mining Company (2.77%) - Luoyang Molybdenum Company (2.28%) [2]. Group 3: Sector Allocation - The sector allocation of the H300 Upstream Index is as follows: - Oil and Gas: 51.89% - Coal: 18.54% - Precious Metals: 14.87% - Industrial Metals: 10.17% - Rare Metals: 2.98% - Oil and Gas Extraction and Field Services: 1.05% - Other Non-ferrous Metals and Alloys: 0.49% [3]. Group 4: Index Adjustment - The index samples are adjusted semi-annually, with adjustments occurring on the next trading day following the second Friday of June and December each year. Temporary adjustments may occur under special circumstances [3].

Investment Rating - The report maintains an "Overweight" rating for the oil and gas sector, specifically for the "Big Three" oil companies and oil service sector [5]. Core Viewpoints - The long-term outlook for oil prices remains optimistic due to improving supply-demand dynamics and ongoing geopolitical risks that provide price support [1]. - The "Big Three" oil companies in China are expected to increase their oil and gas equivalent production by 1.6%, 1.3%, and 5.9% respectively by 2025, with significant growth in natural gas production [2]. - The downstream sector is accelerating its transformation towards new materials and clean energy, with major companies investing in high-value products and energy supply networks [3]. - The report suggests focusing on undervalued, high-dividend, and well-performing companies in the oil and gas sector, as well as those benefiting from domestic substitution trends in materials [4]. Summary by Sections Oil and Gas Sector - Oil prices are supported by geopolitical tensions and a slowdown in U.S. shale oil production, with IEA projecting increases in U.S. crude supply of 440,000 barrels per day in 2025 and 180,000 barrels per day in 2026 [1]. - The "Big Three" oil companies are responding to national calls for increased reserves and production, with specific growth targets set for oil and gas equivalent production [2]. Downstream Transformation - Companies are enhancing their refining and sales operations, transitioning to comprehensive energy suppliers, and investing in electric vehicle infrastructure [3]. Investment Recommendations - The report recommends focusing on the "Big Three" oil companies, oil service firms, and companies in the materials sector that are poised to benefit from domestic substitution trends [4].

Market Overview - On May 28, the Hang Seng Index fell by 0.53%, closing at 23,258.31 points, while the net inflow of southbound funds through the Stock Connect amounted to HKD 3.578 billion [1][4] - The total trading volume for the Stock Connect on the same day was HKD 75.205 billion, with a net buying of HKD 3.578 billion [1] Stock Performance - In the Shanghai Stock Connect, the total trading volume was HKD 49.972 billion with a net buying of HKD 3.924 billion, while in the Shenzhen Stock Connect, the trading volume was HKD 25.233 billion with a net selling of HKD 0.346 billion [1] - The most actively traded stock in the Shanghai Stock Connect was Xiaomi Group-W, with a trading volume of HKD 4.316 billion, followed by Pop Mart and Alibaba-W with trading volumes of HKD 2.529 billion and HKD 1.850 billion, respectively [1][3] - In terms of net buying, Meituan-W led with a net inflow of HKD 0.780 billion, despite its closing price dropping by 0.53%. Xiaomi Group-W had the highest net selling of HKD 0.716 billion, closing up by 0.39% [1][3] Shenzhen Stock Connect Highlights - In the Shenzhen Stock Connect, Xiaomi Group-W also topped the trading volume with HKD 1.977 billion, followed by Alibaba-W and Pop Mart with HKD 1.163 billion and HKD 1.054 billion, respectively [2] - Meituan-W recorded the highest net buying in the Shenzhen market with HKD 0.295 billion, while Hang Seng China Enterprises had the largest net selling of HKD 0.430 billion, closing down by 0.32% [2]