Group 1 - The Tianhong CSI Hong Kong Stock Connect Central State-Owned Enterprises Dividend ETF (159281) closed at a 0.40% increase with a trading volume of 34.08 million yuan on December 23 [1] - The fund was established on August 20, 2025, with an annual management fee of 0.50% and a custody fee of 0.10% [1] - As of December 22, the fund's latest share count was 341 million shares, with a total size of 340 million yuan [1] Group 2 - The fund's recent trading activity shows a cumulative trading amount of 615 million yuan over the last 20 trading days, with an average daily trading amount of 30.75 million yuan [1] - The current fund manager is He Yuxuan, who has managed the fund since its inception, with a return of -0.22% during the management period [1] Group 3 - The top holdings of the fund include COSCO Shipping Holdings, Orient Overseas International, China National Foreign Trade Transportation Group, PetroChina, CITIC Bank, CNOOC, China Shenhua Energy, People's Insurance Company of China, China Unicom, and Agricultural Bank of China, with respective holding percentages [2] - The largest holding is COSCO Shipping Holdings at 0.85%, followed by Orient Overseas International at 0.40% and China National Foreign Trade Transportation Group at 0.33% [2]

Core Insights - China National Offshore Oil Corporation (CNOOC) has announced the commencement of production at the Xijiang Oilfield Block 24 development project, which is expected to reach a peak production of approximately 18,000 barrels of oil equivalent per day by 2026 [1] - The Xijiang 24-7 platform is noted as China's first unmanned platform for high-temperature cooling and transportation of oil and gas-water mixtures, featuring an innovative temperature control system to mitigate high temperatures' impact on subsea pipelines [1] - The Bohai Oilfield, as China's largest offshore oil production base, is projected to achieve a cumulative production milestone of over 400 million tons of oil and gas by 2025, setting a new historical record [1] Company and Industry Summary - The Bohai Oilfield, established in 1965, is recognized as the cradle of China's offshore oil industry and currently operates over 60 oil and gas fields along with more than 200 production facilities [1] - Over the past five years, the average annual growth rate of crude oil and natural gas production from the Bohai Oilfield has been 5%, contributing approximately 40% to the domestic crude oil production increase [1] - Experts from CNOOC's Economic and Technical Research Institute emphasize that enhancing exploration and development efforts is crucial, with significant investment growth evidently increasing development intensity [2] - The successful development of deep-sea and non-traditional resources, along with technological and innovation advancements, are identified as key factors supporting China's strategy to strengthen domestic energy production [2]

Core Viewpoint - China National Offshore Oil Corporation (CNOOC) is a leading enterprise in marine energy, contributing significantly to the construction of a maritime power through a comprehensive marine energy development system, including conventional oil and gas, deepwater oil and gas, LNG, and offshore wind power [2]. Group 1: Business Overview - CNOOC's main business segments include oil and gas exploration and development, specialized technical services, refining and sales, natural gas and power generation, and financial services, with a focus on developing offshore wind power and other renewable energy [3]. - The company anticipates a compound annual growth rate (CAGR) of 8.0% for crude oil production and 10.5% for natural gas production from 2021 to 2024, maintaining high capital expenditure to support growth [3]. - CNOOC has established six LNG receiving stations with a total processing capacity of 32.6 million tons per year and operates seven natural gas power plants with a total installed capacity of 6.82 million kilowatts, solidifying its position as a leader in the domestic LNG industry [3]. Group 2: ESG and Corporate Governance - As of December 17, 2025, CNOOC received an "AA" rating in the Wind ESG assessment, ranking 10th among 527 listed companies in the petrochemical industry and 3rd in the oil and gas sector, reflecting its strong performance in environmental, social, and governance (ESG) practices [4]. - The company has improved its board of directors' independence and strengthened risk management and internal control compliance, actively addressing climate change and implementing carbon reduction measures [4].

Group 1 - The core viewpoint of the reports indicates that China's marine oil production is expected to reach approximately 68 million tons by 2025, contributing to about 80% of the national oil production increase [1] - The report highlights that China's marine oil and gas exploration efforts are intensifying, with five new discoveries and 22 evaluated oil and gas structures as of the end of Q3 this year [1] - The report also notes that global oil supply is expected to be loose in 2025, with international oil prices under pressure due to slowing global economic growth and accelerated energy transition [1] Group 2 - The former head of the National Energy Administration emphasizes the need for a new energy system focusing on clean and efficient use of fossil fuels, reliable non-fossil energy alternatives, and innovation [2] - It is projected that global capital expenditure on marine oil and gas will continue to grow, positioning marine oil and gas as a core growth area in global oil and gas supply [2] - The demand for marine oil and gas engineering equipment in China is increasing, with the utilization rate of mobile drilling equipment rising to 94%, surpassing the global average [2] Group 3 - Predictions indicate that energy-related carbon emissions and primary energy consumption are expected to peak within the next 5 to 10 years, with clean electricity becoming the primary terminal energy source [3] - The marine sector is anticipated to become a new highland for global energy supply, with over 30% of oil, 37% of natural gas, and 7% of electricity expected to come from marine sources [3] - A comprehensive marine energy supply system is expected to be established, integrating underwater oil and gas production with offshore renewable energy generation [3]

Core Insights - On December 22, 2023, CSPC Pharmaceutical Group made its first appearance on the Hong Kong Stock Connect active trading list in nearly a month [2][3] - The total trading volume of active stocks on the Hong Kong Stock Connect reached HKD 315.99 billion, accounting for 35.82% of the day's total trading amount, with a net buying amount of HKD 17.47 billion [2] - Alibaba-W led the trading volume with HKD 63.20 billion, followed by SMIC and Xiaomi Group-W with HKD 56.70 billion and HKD 40.84 billion, respectively [2] Trading Activity Summary - CSPC Pharmaceutical Group had a trading volume of HKD 5.84 billion on December 22, with a net buying amount of HKD 0.16 billion, and the stock closed up by 0.61% [2][3] - The most frequently listed stocks in the past month include Alibaba-W and Tencent Holdings, each appearing 21 times, indicating strong interest from Hong Kong Stock Connect funds [2] - The trading data for other notable stocks includes Tencent Holdings at HKD 38.08 billion, SMIC at HKD 56.70 billion, and Xiaomi Group-W at HKD 40.84 billion, all showing significant trading activity [2]

China National Offshore Oil Corporation (CNOOC) has commenced production at the Xijiang Oilfields 24 Block development project. Located in the shallow waters of the Pearl River Mouth Basin in the northern South China Sea, the project uses existing facilities at the nearby Huixi Oilfields. It also incorporates a newly installed unmanned wellhead platform. CNOOC plans to commission ten development wells for the project and aims to reach a peak output of about 18,000 barrels of oil equivalent per day (boe ...

（来源：数局） CONTENT 目录 油气行业外部环境五大特点 1 Five Features of External Environment of the Oil and Gas Industry 油气行业发展取得十大成就 N9 Ten Great Achievements of the Oil and Gas Industry 未来五年油气行业五大展望 6 Five Prospects of the Oil and Gas Industry in the Next Five Years 变与稳 弱与强 世界百年变局加速演进 全球经济弱势增长 中国油气行业稳健前行 中国经济韧性增强 退与进 逆与顺 能源转型有退有进 油气需求增速放缓 中国引领绿色发展 贸易流向"逆顺"转换 新与融 科技革命突飞猛进, 融合创新赋能油气行业 3 特点1:世界百年变局加速演进,中国油气行业稳健前行 特点2:全球经济弱势增长,中国经济韧性增强 中国经济增速 全球经济增速 フラ and 10:2 10:2 10:2 10:2 数据来源:国家统计局,中石油经济技术研究院 数据来源:IMF《世界经济展望》 □ 大国博弈波及能源,供应链安 ...

Core Insights - On December 22, 2025, Alibaba-W (09988), SMIC (00981), and Xiaomi Group-W (01810) were the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 4.274 billion, 3.472 billion, and 2.623 billion respectively [1] - In the Shenzhen-Hong Kong Stock Connect, SMIC (00981), Alibaba-W (09988), and Tencent Holdings (00700) led the trading volume, with amounts of 2.198 billion, 2.046 billion, and 1.461 billion respectively [1] Southbound Stock Connect Trading Activity - The top three active companies in the Southbound Stock Connect included: - Alibaba-W (09988) with a trading amount of 4.274 billion and a net buy of -1.081 billion - SMIC (00981) with a trading amount of 3.472 billion and a net buy of 0.259 billion - Xiaomi Group-W (01810) with a trading amount of 2.623 billion and a net buy of 0.305 billion [2] - Other notable companies included Tencent Holdings (00700) with a trading amount of 2.347 billion and a net buy of 0.427 billion, and China Mobile (00941) with a trading amount of 1.078 billion and a net buy of -0.441 billion [2] Shenzhen-Hong Kong Stock Connect Trading Activity - The top three active companies in the Shenzhen-Hong Kong Stock Connect were: - SMIC (00981) with a trading amount of 2.198 billion and a net buy of 0.472 billion - Alibaba-W (09988) with a trading amount of 2.046 billion and a net buy of 0.562 billion - Tencent Holdings (00700) with a trading amount of 1.461 billion and a net buy of 0.170 billion [2] - Other significant companies included Xiaomi Group-W (01810) with a trading amount of 1.460 billion and a net buy of 0.382 billion, and China Mobile (00941) with a trading amount of 0.805 billion and a net buy of -0.138 billion [2]

石油石化股方面，中国石油化工股份跌0.44%，收报4.51港元；中国石油股份跌0.12%，收报8.08港 元；中国海洋石油涨2.06%，收报20.8港元。 【纠错】 【责任编辑:吴京泽】 蓝筹股方面，腾讯控股涨0.08%，收报614.5港元；香港交易所无升跌，收报407港元；中国移动跌 0.24%，收报83.7港元；汇丰控股涨1.68%，收报121.3港元。 香港本地股方面，长实集团跌0.3%，收报40.02港元；新鸿基地产涨0.05%，收报95.55港元；恒基 地产跌0.2%，收报29.22港元。 中资金融股方面，中国银行跌0.45%，收报4.4港元；建设银行涨0.67%，收报7.54港元；工商银行 涨0.16%，收报6.13港元；中国平安跌0.31%，收报65.25港元；中国人寿跌1.11%，收报28.48港元。 新华社香港12月22日电 香港恒生指数22日涨111.24点，涨幅0.43%，收报25801.77点。全日主板成 交1697.77亿港元。 国企指数涨38.45点，收报8939.68点，涨幅0.43%。恒生科技指数涨47.79点，收报5526.83点，涨幅 0.87%。 ...

中新网深圳12月22日电 (索有为 杨力 胡堂均)中国海油深圳分公司22日发布消息称，随着西江油田群24 区开发项目成功投产，中国首次实现海上无人平台油气水混合物高温冷却外输，为保障国家能源安全提 供了有力支撑。 西江油田群24区开发项目位于深圳东南约150公里，是珠江口盆地海域重要产能建设项目，预计高峰日 产原油超2300吨，提炼成汽油后可满足25万辆家用小汽车的日常用油需求。 西江24-7 无人井口平台。杨力 摄 西江24-7无人井口平台是西江油田群24区开发项目的核心设施，高约138米，重约6700吨，设计生产井 10口。该平台全面集成智能采油、智能运维与智能安防等系统，在远程一键启停、智能调节与故障智能 诊断等智能化开发方面取得重要突破。同时与周边10公里范围内的西江24-3、西江24-3B等多个在产平 台实现电力组网与5G通讯组网，共同构建起数字化、智能化、无人化深度融合的智慧油田群，推动数 智技术与勘探开发业务进一步融合，为中国海上油田智能化、集约化开发探索出新路径。 中国海油深圳分公司惠西作业公司总经理陈三君表示，西江24-7无人井口平台的顺利投产，标志着中国 海上无人平台数智化应用实现新突破， ...