本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 中国海洋石油有限公司 关于独立非执行董事及董事会下属委员会 组成变动的公告 证券代码：600938 证券简称：中国海油 公告编号：2025-017 中国海洋石油有限公司（"本公司"）董事会于 2025 年 5 月 12 日以书面决议方式审 议通过有关董事变更和董事薪酬的议案，表决结果为 8 票同意，0 票反对，0 票弃权。 本公司提名委员会、薪酬委员会已分别依职权审议通过提名、薪酬相关事项并同意提 交董事会审议。董事会宣布： 1 结束时开始连续 36 个月。陈先生之委任将受制于其服务协议、《香港联合交易所有限 公司证券上市规则》（"《联交所上市规则》"）及本公司不时生效之《组织章程细则》 中有关轮流退任及膺选连任之规定。陈先生年度董事袍金将为 95 万港币（香港税收 前）。陈先生的薪酬由董事会参照行业标准和现行市况而厘定。本公司薪酬委员会将 会不时审核董事薪酬的水平并于有需要时向董事会建议调整。 一、独立非执行董事退任 赵崇康先生（"赵先生"）将根据本公司《组织章程细则》于本公司 ...

提名人中国海洋石油有限公司董事会，现提名陈泽铭先生为 中国海洋石油有限公司独立董事候选人，并已充分了解被提名人 职业、学历、职称、详细的工作经历、全部兼职、有无重大失信 等不良记录等情况。被提名人已同意出任中国海洋石油有限公司 董事会独立董事候选人（参见该独立董事候选人声明）。 中国海洋石油有限公司 独立董事提名人声明 提名人认为，被提名人具备独立董事任职资格，与中国海洋 石油有限公司之间不存在任何影响其独立性的关系，具体声明如 下： 一、被提名人具备上市公司运作的基本知识，熟悉相关法律、 行政法规、规章及其他规范性文件，具有 5 年以上法律、经济、 财务、管理或者其他履行独立董事职责所必需的工作经验。 二、被提名人任职资格符合下列法律、行政法规和部门规章 的要求： （一）公司注册地法律法规关于董事任职资格的规定； （二）其他法律法规、部门规章、规范性文件和上海证券交 易所规定的情形。 三、被提名人具备独立性，符合所适用的上市地证券交易所 有关独立性的标准，并确认不属于下列情形： （一）在上市公司或者其附属企业任职的人员及其配偶、父 母、子女、主要社会关系（主要社会关系是指兄弟姐妹、兄弟姐 1 妹的配偶、配偶 ...

证券代码：600938 证券简称：中国海油 公告编号：2025-016 中国海洋石油有限公司 2025 年第六次董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者 重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 中国海洋石油有限公司（以下简称"公司"）于 2025 年 5 月 12 日以书面决 议方式召开 2025 年第六次董事会。本次董事会的会议通知及议案已于 2025 年 5 月 9 日发送给公司全体董事。本次会议应出席董事 8 人，实际出席董事 8 人。会 议于 2025 年 5 月 12 日形成有效决议。会议的召集、召开、表决程序符合有关法 律法规及《中国海洋石油有限公司组织章程细则》的相关规定，合法、有效。 二、董事会审议情况 （一）审议通过《关于独立非执行董事及董事会下属委员会组成变动的议案》 具体内容详见公司于上海证券交易所网站（www.sse.com.cn）披露的《中国 海洋石油有限公司关于独立非执行董事及董事会下属委员会组成变动的公告》。 本议案已经公司提名委员会审议通过，并同意提交董事会审议。 表决结果：8 票赞成，0 ...

Investment Rating - The report maintains a positive outlook on the petrochemical industry for 2024 and Q1 2025, indicating a recovery in downstream refining and polyester sectors while upstream oil and gas sectors continue to perform well [1][20]. Core Insights - Oil prices experienced a decline in Q4 2024 followed by a slight recovery in Q1 2025, with Brent crude averaging $74.0 per barrel in Q4 2024, down 6.0% quarter-on-quarter and 10.7% year-on-year, and $75.0 per barrel in Q1 2025, up 1.3% quarter-on-quarter but down 8.3% year-on-year [1][20]. - The upstream oil and gas sector remains robust, with Q1 2025 revenues reaching CNY 16,413.7 billion, a 5.9% increase quarter-on-quarter despite a 6.8% year-on-year decline, and net profits of CNY 1,058.0 billion, up 63.9% quarter-on-quarter [1][20]. - Downstream refining and chemical sectors are showing signs of recovery, with Q1 2025 revenues of CNY 17,279.3 billion, a 4.9% increase quarter-on-quarter, and net profits of CNY 703.6 billion, up 64.1% quarter-on-quarter [1][20]. Summary by Sections Upstream Oil and Gas Sector - The upstream oil and gas sector continues to maintain high profitability, with Q1 2025 net profit margins at 20.6%, reflecting cost improvements from efficiency measures [1][20]. - The overall revenue for the upstream sector in Q4 2024 was CNY 15,497 billion, down 6.2% year-on-year, while Q1 2025 saw a revenue of CNY 16,413.7 billion, down 6.8% year-on-year but up 5.9% quarter-on-quarter [1][20]. Downstream Refining Sector - The downstream refining sector has shown recovery with Q1 2025 revenues of CNY 17,279.3 billion, down 7.3% year-on-year but up 4.9% quarter-on-quarter, and net profits of CNY 703.6 billion, reflecting a significant quarter-on-quarter increase [1][20]. - The gross margin for the refining sector in Q1 2025 was 17.4%, indicating a slight year-on-year improvement despite a quarter-on-quarter decline [1][20]. Price Trends and Margins - The report highlights that the price differentials for various petrochemical products have shown fluctuations, with Q4 2024 and Q1 2025 seeing changes in margins for products like propylene and acrylic acid [1][10][16]. - The Brent crude oil price is projected to maintain a mid-to-high level in 2025, with expectations of a "U" shaped recovery in oil prices, supporting the overall profitability of oil companies [1][20].

Investment Rating - The report maintains a "Buy" rating for the high-performance organic pigment industry, indicating a positive outlook for leading companies in the sector [5]. Core Views - The high-performance organic pigment industry is experiencing favorable structural changes, with ongoing consolidation benefiting domestic alternatives. Major international players are divesting their pigment businesses due to tightening profit margins and stricter environmental regulations. This trend is expected to enhance the competitive position of leading domestic firms [1]. - The rapid development of organic pigments has led to saturation in classic organic pigment production capacity, resulting in declining product prices and profit margins. High-performance organic pigments are emerging as a new trend in the industry, characterized by high technical barriers and limited competition from a few global chemical giants [1]. - Companies like Qicai Chemical and Baihehua are expanding their production capacities in high-performance organic pigments, indicating a strong growth trajectory in this segment [2][3]. Summary by Sections High-Performance Organic Pigments - Sudarshan's acquisition of the German Heubach pigment business signifies ongoing industry consolidation, which is favorable for domestic high-performance organic pigment production [1]. - The report highlights that leading companies are likely to benefit from the high technical barriers associated with high-performance organic pigments, as classic organic pigment capacity becomes oversaturated [1]. Company Performance - Qicai Chemical reported a significant increase in revenue and net profit, with a year-on-year revenue growth of 28.75% to 1.568 billion yuan and a net profit increase of 1035.48% to 125 million yuan [2]. - Baihehua achieved a revenue of 2.403 billion yuan, a 5.23% increase year-on-year, and a net profit of 176 million yuan, up 46.45% year-on-year. The company is also investing in new production capacity for high-performance organic pigments in Hangzhou [3]. Market Trends - The report emphasizes the trend of domestic companies benefiting from the shift towards high-performance organic pigments, as international leaders divest their pigment operations [1]. - The ongoing expansion of production capacities by domestic firms like Qicai Chemical and Baihehua reflects the growing demand for high-performance organic pigments in various applications [2][3].

Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced significant net selling from Northbound trading, totaling 78.66 billion HKD, with notable net sell-offs in major tech stocks like Tencent and Xiaomi, while banks and food delivery services saw net buying [1]. Group 1: Northbound Trading Activity - Northbound trading recorded a net sell of 78.66 billion HKD, with 41.78 billion HKD from Shanghai Stock Connect and 36.88 billion HKD from Shenzhen Stock Connect [1]. - The most bought stocks included China Construction Bank (00939), Meituan-W (03690), and CNOOC (00883) [1]. - The most sold stocks were Tencent (00700), Xiaomi Group-W (01810), and Alibaba-W (09988) [1]. Group 2: Individual Stock Performance - Xiaomi Group-W saw a net sell of 20.26 billion HKD, influenced by changes in its vehicle promotion strategy related to smart driving features [5]. - Tencent experienced a net sell of 27.8 billion HKD, amid concerns over ongoing U.S.-China trade tensions and market volatility [6]. - Alibaba-W faced a net sell of 9.55 billion HKD, reflecting broader market trends and investor sentiment [6]. Group 3: Sector Insights - China Construction Bank received a net buy of 6.68 billion HKD, supported by recent monetary policy measures aimed at enhancing liquidity in the market [4]. - Meituan-W attracted a net buy of 3 billion HKD, with analysts predicting a stable competitive landscape in the food delivery sector [5]. - CNOOC had a net buy of 2.13 billion HKD, with first-quarter earnings showing a decline but better than expected due to favorable oil prices [5].

Group 1 - The core viewpoint of the articles highlights the performance of the China Securities Hong Kong 300 Energy Index, which has seen a decline of 7.31% in the past month, 8.77% in the past three months, and 10.93% year-to-date [1] - The top ten holdings of the China Securities Hong Kong 300 Energy Index include China National Offshore Oil (41.44%), PetroChina (17.49%), China Shenhua Energy (13.95%), Sinopec (13.62%), and others, indicating a concentration in a few major companies [1] - The index is designed to reflect the overall performance of different industries in the Hong Kong market, with a base date of December 31, 2004, set at 1000.0 points [1] Group 2 - The market segments represented in the China Securities Hong Kong 300 Energy Index are entirely from the Hong Kong Stock Exchange, with fuel refining accounting for 42.01%, integrated oil and gas companies for 31.12%, and coal for 24.17% [2] - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December, ensuring that the weight factors are updated accordingly [2] - Adjustments to the index samples occur in response to special events affecting the companies, such as mergers or delistings, ensuring the index remains reflective of the current market landscape [2]

智通财经APP获悉，2025年5月6日当天，小米集团-W(01810)、美团-W(03690)、阿里巴巴-W(09988)位 居沪港通（南向）成交额前3位，成交额分别为51.71 亿元、48.21 亿元、36.24 亿元；盈富基金 (02800)、小米集团-W(01810)、美团-W(03690) 位居深港通（南向）成交额前3位，成交额分别为30.78 亿元、26.47 亿元、26.20 亿元。 沪港通（南向）十大活跃成交公司 | 公司名称 | 成交金额 | 净买入额 | | --- | --- | --- | | 小米集团-W(01810) | 51.71 亿元 | -4.73 亿元 | | 美团-W(03690) | 48.21 亿元 | +22.01 亿元 | | 阿里巴巴-W(09988) | 36.24 亿元 | +9.45 亿元 | | 腾讯控股(00700) | 32.22 亿元 | -3.39 亿元 | | 中芯国际(00981) | 18.77 亿元 | -2653.78 万元 | | 盈富基金(02800) | 15.88 亿元 | +14.83 亿元 | | 石药集团(01093) | ...

Summary of Key Points Core Viewpoint - The Hong Kong stock market experienced significant net inflows from Northbound trading, with a total net buy of 134.75 billion HKD on May 6, 2023, indicating a positive sentiment towards certain stocks and sectors [1]. Northbound Trading Activity - The net buy from Northbound trading was 76.9 billion HKD through the Shanghai Stock Connect and 57.85 billion HKD through the Shenzhen Stock Connect [1]. - The most bought stocks included the Tracker Fund of Hong Kong (02800), Meituan-W (03690), and Hang Seng China Enterprises (02828) [1]. - The most sold stocks were Xiaomi Group-W (01810), Tencent (00700), and CNOOC (00883) [1]. Stock-Specific Insights - Xiaomi Group-W had a net sell of 4.91 billion HKD, with concerns over its vehicle's advertising changes and recent accidents [6]. - Tencent faced a net sell of 3.62 billion HKD, reflecting ongoing market challenges [7]. - Meituan-W saw a net buy of 34.56 billion HKD, with analysts noting the stability of the food delivery market despite short-term fluctuations [5]. - Alibaba-W (09988) received a net buy of 15.03 billion HKD, with news of Ant Group's potential IPO in Hong Kong [5]. - Construction Bank (00939) had a net buy of 5.24 billion HKD, despite a reported decline in first-quarter profits [5]. Market Sentiment and Future Outlook - Analysts from交银国际 expressed that the Hong Kong market shows resilience due to various supportive factors, with expectations of structural recovery in previously affected sectors [4]. - The report indicated that the emotional impact of tariffs has diminished, and global equity markets are recovering, which is positively influencing the Hong Kong market [4].

南向资金今日大幅净买入134.75亿元。港股通（沪）方面，美团-W、盈富基金分别获净买入22.01亿港 元、14.83亿港元；石药集团净卖出额居首，金额为5.34亿港元；港股通（深）方面，盈富基金、美团- W分别获净买入30.69亿港元、12.55亿港元；中国海洋石油净卖出额居首，金额为3.09亿港元。 ...