| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 001316 | 润贝航科 | 34.37 | 3.06% | 3.19万 | | 1.09亿 | | 002986 | 宇新股份 | 13.30 | 2.39% | 34.31万 | | 4.59 Z | | 300839 | 博汇股份 | 12.89 | 1.74% | 13.31万 | | 1.67亿 | | 000637 | 成化实化 | 4.22 | 1.44% | ﺎ 11.25万 | | 4716.05万 | | 603223 | 恒通股份 | 9.97 | 1.32% | 7.89万 | | 7847.07万 | | 603798 | 康普顿 | 11.69 | 1.21% | 4.68万 | | 5460.44万 | | 002476 | 宝莫股份 | 4.78 | 0.84% | 9.82万 | | 4677.21万 | | 000985 | 大庆华科 | 18.81 | 0.80% | 1.29万 | | 24 ...

Group 1 - The oil industry experienced a slight increase of 0.08% on August 4, with a net outflow of main funds amounting to 4.0268 million yuan [1] - Among the constituent stocks, 11 rose while 9 fell, indicating mixed performance within the sector [1] - The top net outflows were recorded for China National Offshore Oil Corporation (CNOOC) at 27.5103 million yuan, followed by *ST Xinchao at 15.0106 million yuan, and Guangju Energy at 9.3863 million yuan [1] Group 2 - China National Petroleum Corporation (CNPC) shares were priced at 8.47 yuan, with a decrease of 0.47% and a net inflow of 3.88638 million yuan, representing 4.0% of the main fund [1] - China Petroleum & Chemical Corporation (Sinopec) shares were priced at 5.65 yuan, down 0.72%, with a net inflow of 0.42157 million yuan, accounting for 2.59% of the main fund [1] - Shanghai Petrochemical Company shares were priced at 2.83 yuan, down 0.77%, with a net inflow of 0.07935 million yuan, representing 7.68% of the main fund [1]

Group 1 - The core viewpoint of the report is that the target prices for China Petroleum (601857) and Sinopec (600028) have been lowered due to challenging market conditions in the downstream oil sector [1] - The target price for China Petroleum has been adjusted from HKD 4.6 to HKD 4.5, while Sinopec's target price has been reduced from RMB 6.5 to RMB 6.3 [1] - Despite the target price adjustments, the firm maintains an "outperform" rating for Sinopec's H-shares and A-shares, indicating a preference order among the "three oil giants" [1] Group 2 - Sinopec has issued a profit warning for the first half of 2025, indicating weaker profitability in the second quarter of 2025, which reflects ongoing challenges in the domestic oil downstream sector [1] - The market appears to overestimate the potential benefits for Sinopec and other Chinese refining companies from China's anti-involution policies, according to the report [1] - The firm has revised its earnings forecasts for Sinopec downwards by 4% to 5% for the fiscal years 2025 to 2027, in light of the anticipated weak performance in the second quarter of 2025 [1]

Group 1 - The core viewpoint of the report indicates that Citibank has lowered the target price for China Petroleum & Chemical Corporation (Sinopec) from HKD 4.6 to HKD 4.5, and for Sinopec's A-shares from RMB 6.5 to RMB 6.3 [1] - Citibank maintains an "outperform" rating for both Sinopec's H-shares and A-shares, but highlights a preference order for the "Big Three" oil companies, ranking China Petroleum (00857) and CNOOC (00883) higher than Sinopec [1] - The report notes that Sinopec issued a profit warning for the first half of 2025, indicating weak profitability in Q2 2025, reflecting ongoing challenges in the domestic oil downstream (refining and chemicals) industry [1] Group 2 - The market seems to expect that Sinopec and other Chinese refining companies will benefit from China's anti-involution policies, but Citibank believes the upside potential may be overestimated [1] - The financial forecasts for Sinopec for the fiscal years 2025 to 2027 have been revised down by 4% to 5% to account for the weak performance expected in Q2 2025 [1]

Group 1: Oil Price Overview - As of the week ending August 1, 2025, oil prices have generally increased, influenced by a trade agreement between the US and Europe, and concerns over tightening supply due to potential sanctions on Russian oil buyers [2][3] - Brent crude futures settled at $69.67 per barrel, up $2.01 per barrel (+2.97%) from the previous week, while WTI crude futures settled at $67.33 per barrel, up $2.17 per barrel (+3.33%) [1][2] Group 2: Oil Supply and Demand in the US - As of the week ending July 25, 2025, US crude oil production was 13.314 million barrels per day, an increase of 41,000 barrels per day from the previous week [3] - The number of active drilling rigs in the US decreased by 5 to 410 rigs as of August 1, 2025, while the number of hydraulic fracturing fleets decreased by 1 to 167 [3] - US refinery crude processing volume was 16.911 million barrels per day, down 25,000 barrels per day from the previous week, with a refinery utilization rate of 95.40%, a decrease of 0.1 percentage points [3] Group 3: US Oil Inventory - As of the week ending July 25, 2025, total US crude oil inventory increased by 7.936 million barrels (+0.97%) to 829 million barrels, with strategic oil inventory rising by 238,000 barrels (+0.06%) and commercial crude inventory increasing by 7.698 million barrels (+1.84%) [3] - Cushing, Oklahoma crude oil inventory rose by 690,000 barrels (+3.16%) to 22.553 million barrels [3] Group 4: Related Companies - Relevant companies in the oil sector include China National Offshore Oil Corporation (CNOOC), China Petroleum & Chemical Corporation (Sinopec), and China National Petroleum Corporation (PetroChina) [4]

光大银行 2398.87亿市值 5.37亿成交额 4.06 +0.01(+0.25%) 保险 中国人保 中国太保 中国平安 4 3621.94亿市值 3571.07亿市值 10600.18亿市值 8.90亿成交额 20.92亿成交额 3.67亿成交额 58.21 37.12 8.19 +0.02(+0.05%) +0.01(+0.02%) +0.03(+0.37%) 酿酒行业 贵州茅台 山西汾酒 五粮液 17825.45亿市值 2173.98亿市值 4693.64亿市值 26.47亿成交额 8.84亿成交额 10.38亿成交额 1419.00 178.20 120.92 -0.71(-0.40%) +2.00(+0.14%) -0.08(-0.07%) 米含体 海光信息 北方华创 寒武纪-U HYGON 2368.74亿市值 2882.68亿市值 3314.04亿市值 39.88亿成交额 45.51亿成交额 15.21亿成交额 328.26 689.06 142.58 -1.54(-0.47%) -0.04(-0.01%) +4.83(+3.51%) 铁路公路 石油行业 中国石化 京沪高铁 中国石油 6850 ...

张达，中国石化镇海炼化公司副总工程师、生产部(调度部)经理。28年前，他从浙江大学化工专业毕业 来到镇海炼化；28年后，他已从一名基层班组外操成长为企业生产调度的"指挥官"。 今年"五一"前夕，张达被评为全国劳动模范。 张达电脑里存着一张全球原油图谱。"渣油被有些企业视为'鸡肋'，但我们偏要做出有价值的产品。"他 说。 作为原油重质化的攻坚者，张达带领团队经过近3年的持续优化，成功建立了一条以沸腾床渣油加氢装 置为核心的重油加工路线。这套装置创下了长周期运行新纪录，并获得法国专利商阿克森斯认证。4年 来，这条原油重质化加工路线最大限度挖掘了未转化油的潜在价值。 张达所在的镇海基地是中国石化四大基地的重要组成部分。在基地庞大的能源链条中，张达一直在琢 磨：如何在宏观层面盘活资源、如何在微观层面确保每一滴原油的最大价值。 张达牵头编制了《镇海炼化2030年前碳达峰方案》，开展清洁能源替代，提升清洁能源供给能力；积极 推进碳资产管理系统建设，做好日常碳排放监控，镇海炼化119套能源装置、917条能源活动数据都被纳 入智能监控；高效落实生物航煤装置试生产工作，成功产出生物航煤合格产品。这项创新技术使我国成 为亚洲第一 ...

Group 1 - The China Petroleum and Chemical Industry Federation held a new employee training summary meeting and organized a visit to the China Chemical Industry Museum [1] - During the meeting, new employees shared their training experiences, and the federation's leadership expressed three expectations: continuous learning, taking responsibility, and fostering innovation [4] - The visit to the museum included exhibitions on the origins of the chemical industry, contributions of historical figures, and the development of the chemical industry in modern China [4]

Report Industry Investment Rating - The investment view on butadiene rubber is a bearish oscillation, indicating that the price of butadiene rubber is expected to fluctuate at a low level in the short term [4]. Core View of the Report - The sentiment has declined, and there are negative factors on the cost side. The price of butadiene rubber (BR) is oscillating at a low level. The supply of butadiene rubber is expected to increase in August, while the demand shows a neutral trend. The inventory and basis show a positive trend, and the profit and geopolitical - macro factors are negative [4]. Summary According to Relevant Catalogs Market Review - This week, the price of high - cis butadiene rubber of Sinopec Chemical Sales has been reduced by 400 yuan/ton in total, and that of major sales companies of PetroChina has been reduced by 100 yuan/ton in total. As of July 24, 2025, the mainstream ex - factory price of high - cis butadiene rubber in China is between 11,800 and 12,100 yuan/ton. The market sentiment has changed, and the prices of butadiene rubber, raw material butadiene, and related natural rubber have gradually declined [7]. Supply and Demand Analysis Supply - Last week, the domestic butadiene production was 1.034 million tons, with a capacity utilization rate of 69.97%. The production of high - cis butadiene rubber was 910,000 tons, with a capacity utilization rate of 72.46%. Some butadiene devices were shut down or under maintenance, and the production of butadiene rubber is expected to continue to increase in August [4]. Demand - For semi - steel tires, the replacement market's sales performance has continued the weak trend of last week, and the terminal demand has not improved significantly. For all - steel tires, the market transactions have increased slightly compared with last week, and some brands may raise prices next month [4]. Inventory - Last week, the butadiene port inventory was 104,000 tons, a month - on - month decrease of 33.76%. The inventory of high - cis butadiene rubber enterprises + traders was 31,320 tons, a month - on - month decrease of 3.09%. The overall inventory of sample enterprises has limited fluctuations [4]. Basis - The basis of butadiene rubber in North China is - 55 yuan/ton, in East China is 45 yuan/ton, and in South China is 95 yuan/ton. The futures price is higher than the spot price [4]. Spread/Price Ratio - The RU - BR spread is 2,855 yuan/ton (a decrease of 9.72%), the NR - BR spread is - 2,044 yuan/ton (a decrease of 20.44%), and the BR - SC price ratio is 0.94% [4]. Profit - The production gross profit of butadiene by oxidative dehydrogenation is 176 yuan/ton, and that by C4 extraction is 1,988 yuan/ton. The production gross profit of butadiene rubber is - 176 yuan/ton, and the gross profit margin is - 1.47% [4]. Geopolitical and Macroeconomic Factors - The fundamentals of crude oil are continuously loose, the demand in the refined oil market is weak, and the international crude oil price is oscillating downward. The market's optimistic sentiment towards the "anti - involution" policy has weakened, and the premium of the coal chemical and new energy chains has been given back. Trump signed an executive order to impose "reciprocal tariffs" on multiple countries and regions, but the market generally believes that China - US tariffs may ease [4]. Device Information - In 2025, many refineries in China have carried out or planned to carry out device overhauls, including major state - owned refineries and local refineries. Some butadiene and butadiene rubber production devices are also in a state of overhaul or shutdown [12][13]. Price Trend Charts - The report provides various price trend charts, including the price trends of butadiene rubber, butadiene, and other related products, as well as the seasonal charts of prices, production, consumption, and inventory [15][21][32]. Trading Strategy - Unilateral trading: Oscillation; Arbitrage trading: Pay attention to going long on BR and short on NR/RU. Also, pay attention to downstream demand, cost changes, device overhauls, and geopolitical factors [4].

Core Viewpoint - The successful startup of the electronic-grade sulfuric acid plant by Nanhua Company marks a significant step in its transformation and upgrade, showcasing the company's ability to innovate and adapt its long-standing operations to meet modern industry demands [1][2]. Group 1: Company Achievements - Nanhua Company has successfully launched its electronic-grade sulfuric acid plant, which is a key milestone in its transition towards high-end chemical production [1]. - The new plant utilizes proprietary technology for producing high-purity sulfuric acid, essential for the semiconductor industry, with a production capacity of 20,000 tons per year [2]. - The plant is an upgrade of an existing facility that dates back to 1936, highlighting the company's commitment to revitalizing traditional production methods through innovation [2]. Group 2: Industry Significance - Electronic-grade sulfuric acid is critical for microelectronics, as it effectively removes contaminants from semiconductor wafers, thus impacting the yield and reliability of electronic components [2]. - The company plans to expand its product offerings to include electronic-grade nitric acid, hydrochloric acid, and sodium hydroxide, aiming to establish a comprehensive high-end chemical industry chain [3]. - This expansion is expected to enhance the company's competitive edge in the market for UP-SS grade electronic chemicals, contributing to its high-quality transformation and development [3].