截至2025年5月15日 10:40，沪深300红利低波动指数下跌0.07%。成分股方面涨跌互现，中国神华领涨 1.48%，中国人保上涨1.21%，杭州银行上涨0.85%；广发证券领跌，招商证券、中国联通跟跌。300红 利低波ETF(515300)多空胶着。 华泰证券表示，展望后市，稳市场、稳预期一揽子政策支撑风险偏好，4月通胀和出口数据有韧性，短 期胜率尚可、但赔率下降，或以结构性行情为主。近期证监会印发《推动公募高质量发展行动方案》， 有望推动A股市场生态重塑。其中，推动中长期资金入市、引导资金配置向基准靠拢，大盘权重股和大 金融、公用事业、石油石化等公募低配行业有望受益，价值、低波、红利等因子有效性或提升。 没有股票账户的场外投资者可通过对应的沪深300红利低波动ETF联接基金（007606）把握投资机会。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 流动性方面，300红利低波ETF盘中成交3231.18万元。拉长时间看，截至5月14日，300红利低波ETF近1 周日均成交1.14亿元。规模方面，300红利低波ETF最新规模达56.31亿元，创近1年新高。 资金流入方面，拉长 ...

Important Announcements - Sinopec's controlling shareholder has increased its stake by 302 million H-shares, accounting for 0.25% of the total issued shares, with an investment of HKD 1.232 billion [4] - Shenghe Resources plans to acquire Peak Rare Earths Limited for AUD 158 million (approximately RMB 74.26 million), focusing on the Ngualla rare earth project in Tanzania [5] - Qibin Group has terminated the acquisition of 28.78% equity in its subsidiary Qibin Solar Energy due to changes in market conditions and transaction cycles [8] - Baofeng Energy intends to repurchase shares worth between RMB 1 billion and 2 billion, with a repurchase price not exceeding RMB 22.8 per share [9] - Hongjing Technology has signed a service contract for a smart computing project worth RMB 563 million [13] Shareholder Actions - Huate Gas shareholders plan to reduce their holdings by up to 2% of the company's shares, totaling no more than 2.4 million shares [6] - Haizheng Materials' shareholder, Sinopec Group Capital, intends to reduce its stake by up to 1% of the total shares, approximately 202,680 shares [2] - New Times plans for its directors and deputy general manager to collectively reduce their holdings by up to 0.3% of the company's shares [10] - Jingquan Hua's actual controller and board members plan to reduce their holdings by up to 1.67% of the company's shares [11] Project Developments - China National Petroleum Engineering's subsidiary has won a contract for an overseas project worth RMB 11.538 billion, involving the construction of a gas processing facility in Iraq [3] - Hainan Haicong New Materials is set to establish a new company with a registered capital of RMB 25 million to develop an aluminum alloy door and window project with an investment of RMB 55 million [17] - Huakang Clean has signed a construction contract worth RMB 143 million for a hospital project [18]

第三：中国石化化工有限公司（中石化化工）。中石化化工是中国石油和化学工业领域的巨头，同时也是全球炭黑生产企业中的佼佼者。该企业致力于技术 创新和环境保护，为中国炭黑行业的可持续发展注入了新的活力。 炭黑作为一种重要的工业原料，在橡胶、塑料、油墨、涂料等领域发挥着不可替代的作用。而在这个领域中，中国的炭黑企业表现出色，以其卓越的技术实 力和市场影响力，位列全球炭黑企业的前沿。本文将向您介绍中国炭黑企业十强，这些企业凭借自身的专业能力和创新精神，不断推动着中国炭黑行业的发 展。 第一：中国神华能源股份有限公司（中国神华）。中国神华是中国最大的煤炭生产商，也是全球最大的炭黑生产企业之一。其庞大的生产规模和先进的生产 技术使其成为中国炭黑行业的领军企业。 第二：中国宝钢集团有限公司（宝钢）。作为中国最大的钢铁生产企业之一，宝钢在炭黑生产领域也拥有卓越的实力。该企业在技术创新和品质控制方面取 得了显著的成果，被誉为中国炭黑行业的先驱者。 第七：山东东方碳素股份有限公司（东方碳素）。东方碳素是中国炭黑行业的重要参与者，其稳定的产品质量和广泛的产品应用使其在市场上拥有良好的声 誉。该企业致力于环境保护和可持续发展，将可持续 ...

自願性公告 關於控股股東及其一致行動人本輪首次增持本公司 H股股份的進展公告 茲提述中國石油化工股份有限公司（「本公司」）日期為2025年4月8日关于控股股東及 其一致行動人增持本公司股份計劃的公告。2025年5月14日，本公司接到中國石油化工集團有 限公司（「中國石化集團」）的通知，中國石化集團通過其全資附屬公司在香港聯合交易所有 限公司首次增持了本公司302,004,000股H股股份，約占本公司已發行總股份的0.25%，增持金額 為港幣1,232,176,320元（不含稅費），增持后持有本公司1,344,668,000股H股股份。 中國石化集團及其一致行動人後續將按照增持計劃繼續擇機增持本公司股份。本公司將根 據相關規定，持續關注中國石化集團及其一致行動人增持本公司股份的有關情況，及時履行信 息披露義務。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準 確性或完整性 亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生 或因倚賴該等內容而引致之任何損失承擔任何責任。 （在中華人民共和國註冊成立的股份有限公司） （證券代號：00386） 承董事會命 中國石油化工 ...

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) announced a share buyback plan, indicating confidence in the company's future performance and potential for value creation [1] Group 1: Share Buyback Details - On May 14, 2025, Sinopec Group, through its wholly-owned subsidiary, increased its stake in the company by acquiring 302 million H-shares, representing approximately 0.25% of the total issued shares [1] - The total amount spent on this acquisition was HKD 1.232 billion [1] - Following this transaction, Sinopec Group now holds a total of 1.345 billion H-shares in the company [1] Group 2: Future Plans - Sinopec Group and its concerted parties plan to continue increasing their shareholding in the company according to their buyback strategy [1]

Investment Rating - The report maintains an "Overweight" rating for the industry, indicating a positive outlook for investment opportunities in the sector [5]. Core Insights - The MXD6 market is projected to grow significantly, with a forecasted increase from approximately $410 million in 2024 to $760 million by 2033, reflecting a compound annual growth rate (CAGR) of about 7.1% [2]. - MXD6 is recognized for its superior properties, making it suitable for lightweight applications in automotive and drone industries, as well as for barrier packaging materials [1][2]. - The demand for MXD6 is expected to rise due to trends in low-altitude economy and robotics, which require lightweight materials [2][3]. Summary by Sections Industry Overview - MXD6 is a high-performance engineering plastic characterized by high strength, rigidity, heat resistance, wear resistance, aging resistance, chemical resistance, flame retardancy, and high barrier properties [1]. - It can effectively prevent oxygen permeation and carbon dioxide escape, making it ideal for products with high gas barrier requirements [1]. Market Size and Growth - The global MXD6 market size is estimated to reach approximately $410 million in 2024, with production expected to be around 30,000 to 40,000 tons [2]. - The automotive sector's market size for MXD6 is projected to grow from $132 million in 2023 to $225 million by 2033 [2]. Supply Chain and Competition - Major global suppliers of MXD6 include Mitsubishi Gas Chemical and Solvay, with domestic companies like Sinochem International and Qicai Chemical making significant advancements in production capabilities [3]. - Qicai Chemical has announced the trial production of a 5,000 tons/year MXD6 project, while Sinochem has achieved stable quality in its MXD6 production [3]. Investment Recommendations - The report suggests focusing on undervalued, high-dividend, and well-performing companies in the oil and gas sector, as well as material companies benefiting from domestic substitution trends [4].

Group 1 - The National Enterprise Win ETF (159719) has seen a slight decline of 0.13% as of May 14, 2025, with a latest price of 1.51 yuan, while it has accumulated a rise of 1.96% over the past week as of May 13, 2025 [1] - The liquidity of the National Enterprise Win ETF shows a turnover of 0.74% during the day, with a transaction volume of 895,000 yuan, and an average daily transaction of 24.76 million yuan over the past week [1] - The CSI Guangdong-Hong Kong-Macao Greater Bay Area Development Theme Index (931000) has decreased by 0.08% as of May 14, 2025, with component stocks showing mixed performance [1] Group 2 - Over 300 listed companies have publicly disclosed share repurchase and increase plans since April 2025, with a total amount exceeding 100 billion yuan, including both private enterprises and state-owned enterprises [2] - As of the end of April 2025, the proposed share repurchase loan amount disclosed by listed companies has surpassed 110 billion yuan, with financial institutions signing contracts for approximately 200 billion yuan [2] - Analysts predict that value cycle stocks represented by central state-owned enterprises will yield significant excess returns in the current policy environment aimed at expanding domestic demand and stabilizing assets [2] Group 3 - The National Enterprise Win ETF closely tracks the FTSE China National Enterprise Open Win Index, which reflects the performance of Chinese state-owned enterprises listed in mainland China and Hong Kong, focusing on globalization and sustainable development [2] - The FTSE China National Enterprise Open Win Index consists of 100 constituent stocks, including 80 A-share companies and 20 companies listed in Hong Kong [2] Group 4 - As of April 30, 2025, the top ten weighted stocks in the CSI Guangdong-Hong Kong-Macao Greater Bay Area Development Theme Index account for 53.26% of the index, with companies like BYD, China Ping An, and Midea Group among the leaders [5]

Investment Rating - The report maintains an "Overweight" rating for the petrochemical and chemical transportation industry [6]. Core Views - The easing of trade tensions between the US and China is expected to benefit cyclical sectors, with a positive outlook for the recovery of the petrochemical and chemical transportation sectors [2][4]. - The macroeconomic recovery and overall industrial demand improvement are anticipated to drive a rebound in chemical product profitability, with prices expected to rise from their lows throughout 2025 [4]. Summary by Sections 1. Industry Overview - The US plans to adjust tariffs on Chinese goods, which includes a temporary suspension of 24% tariffs for the first 90 days, while retaining a 10% tariff [2]. - China will also modify its tariffs on US goods similarly, indicating a potential easing of trade friction [2]. 2. Demand Stimulus Measures - Recent meetings in China have focused on stimulating demand and stabilizing employment and the economy, with measures to promote consumption, stabilize foreign trade, and support effective investment [3]. 3. Sector Performance Outlook - The report highlights a positive outlook for several cyclical sectors, including refining, MDI (Methylene Diphenyl Diisocyanate), agricultural chemicals, and vitamins, driven by macroeconomic recovery and industrial demand [4]. - Specific sectors mentioned include: - **Refining**: Lower energy prices are expected to ease cost pressures for downstream refining companies [4]. - **MDI**: Price increases have been observed from major companies, with price hikes ranging from 100 to 300 USD per ton [4]. - **Agricultural Chemicals**: Prices for fertilizers and pesticides are showing signs of recovery, influenced by seasonal demand and international trade dynamics [4]. - **Vitamins**: Supply shifts towards China are noted, with prices for certain vitamins increasing due to global supply constraints [4]. 4. Investment Recommendations - The report suggests focusing on undervalued, high-dividend, and well-performing companies in the "three barrels of oil" and oil service sectors, as well as companies benefiting from domestic substitution trends in materials [5]. - Specific companies to watch include: - **Oil and Gas**: China National Petroleum, Sinopec, CNOOC, and related service companies [5]. - **Materials**: Companies like Jingrui Electric Materials and Tongcheng New Materials are highlighted for their potential benefits from domestic substitution trends [5]. - **Agricultural Chemicals**: Companies such as Wanhua Chemical and Hualu Hengsheng are recommended due to favorable market conditions [5]. - **Vitamins and Amino Acids**: Companies like Andisu and Zhejiang Medicine are noted for their growth potential in these sectors [5].

關於控股股東發行可交換債券的公告 本公告乃由中國石油化工股份有限公司（「本公司」）根據香港法例第 571 章《證券及期 貨條例》第 XIVA 部下的內幕消息條文及《香港聯合交易所有限公司證券上市規則》第 13.09 條而作出。 本公司接獲本公司控股股東中國石油化工集團有限公司（「中國石油化工集團」）的通知， 中國石油化工集團境外全資附屬公司 Deep Development 2025 Limited 作為發行人，中國 石油化工集團作為擔保人，以中國石油化工集團之境外全資附屬公司中國石化盛駿國際 投資有限公司持有的本公司 H 股股票作為標的股票，發行在香港聯合交易所有限公司上 市的可交換債券，總金額為 77.5 億港元，用途為接續到期中長期境外债务（「可交換債 券發行」）。 | 債券期限 | 7 年（2025 | 年 | 5 月 | 20 日起的第 | 3 | 年及第 | 5 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | 年投資者有一次性回售權） | | | | | | 票面利率 | 0.75% | | | | | | | | 初始換股價 ...

Group 1 - A new shale gas well in the Sichuan Basin has set a record with a vertical depth exceeding 5300 meters, marking a significant achievement in China's shale gas exploration [1][3] - The well, located in the Puguang area, has a daily natural gas output of 314,500 cubic meters, indicating the region's rich shale gas resources [3] - The exploration team has developed innovative techniques to address challenges in ultra-deep shale gas reservoirs, including high formation pressure and complex geological conditions [3][6] Group 2 - Shale gas is becoming an important substitute for oil and gas production in China, which has a resource profile characterized by "rich coal, poor oil, and little gas" [4][6] - China has made significant advancements in shale gas commercialization since the successful development of the Fuling shale gas field in 2012, becoming the third country to achieve this after the US and Canada [6] - The Sichuan Basin has established three national shale gas demonstration zones and has identified eight shale gas fields, with ultra-deep shale gas resources estimated at 16.5 trillion cubic meters [6]