Core Viewpoint - The chemical industry ETF managed by E Fund has shown positive performance, with significant inflows and growth in both scale and shares, reflecting strong investor interest in the sector [1][2]. Group 1: Index Performance - As of February 4, 2026, the China Petroleum Industry Index (H11057) increased by 0.41%, with key stocks like Sinopec rising by 3.17% and Wanhua Chemical by 3.09% [1]. - Over the past two weeks, the E Fund chemical industry ETF has accumulated a rise of 0.55%, ranking in the top half among comparable funds [1]. Group 2: Liquidity and Trading Volume - The E Fund chemical industry ETF had a turnover rate of 3.05% during the trading session, with a transaction volume of 48.77 million yuan [1]. - The average daily trading volume over the past week reached 160 million yuan [1]. Group 3: Fund Size and Shares - The latest size of the E Fund chemical industry ETF reached 1.595 billion yuan, marking a one-year high [1]. - The total shares of the ETF have also reached 1.466 billion, which is a one-year high [1]. Group 4: Net Inflows - The E Fund chemical industry ETF has seen continuous net inflows for 13 days, with the highest single-day net inflow reaching 391 million yuan, totaling 1.371 billion yuan in net inflows [1]. - The average daily net inflow stands at 105 million yuan [1]. Group 5: Top Holdings - As of January 30, 2026, the top ten weighted stocks in the China Petroleum Industry Index account for 55.71% of the index, including companies like Wanhua Chemical and Sinopec [2].

如今，胜利油田在多个区域同步推进绿热开发。孤岛油区的山东省首个用于油气生产的中深层地热项目已投产，该项目利用两口弃置井建成，年供热能力 7.5万吉焦；新疆准噶尔盆地春风联合站采出液余热利用项目年供热能力达27万吉焦。 在推进"自身绿"的同时，胜利油田通过油地管网互通、热源共享，引领"周边绿"、带动"区域绿"，年度绿热交易量已达41万吉焦。 中国工程院院士孙焕泉认为，胜利油田"弃置井变热源井、老油田建新热田"的实践，推动油田热田协同开发，为传统油气产业清洁转型提供了可复制可推广 的成功范式，对实现油气产业新能源化、推动国家能源结构调整具有重要意义。 2月3日，中国石化胜利油田孤东采油厂东一联合站完成用能转型，来自地下3200米深处的采出液余热成功替代传统燃气供热，标志着我国油气领域在中深层 地热资源规模化工业应用领域取得积极进展。 胜利油田党委书记、胜利石油工程公司党委书记杨勇介绍，孤东项目创新采用"气井高温余热+油井中温余热"双热源梯级换热技术，通过对两口弃置气井改 造和10口电泵采油井余热集中提取，实现清洁热能高效利用。据测算，该项目年清洁供热能力达20.9万吉焦、用热成本降低59%，替代天然气638万立方 ...

截至13:30，石化ETF（159731）跌0.10%，持仓股上海石化、三棵树、中国石化涨幅居前。从资金净流 入方面来看，石化ETF前一交易日获得资金净流入0.44亿元，连续20个交易日获得资金净流入，累计"吸 金"14.57亿元。石化ETF最新份额达17.00亿份，最新规模17.07亿元，均创成立以来新高。 西部证券指出，康波萧条期，主导国货币信用裂痕扩张，大宗商品迎来超级周期，黄金、工业金属、石 油、农产品依次上涨。继黄金和工业金属大涨之后，2026年全球油价有望大涨，带动化工品涨价重估， 大炼化板块将复制有色板块的上涨路径，且由于其位置更低、启动更晚，未来的上涨空间或将更大。有 色上涨只是大宗商品超级周期的上半场，在流动性更加泛滥的下半场，大炼化板块将承接从贵金属、工 业金属外溢的上涨动能。 石化ETF（159731）及其联接基金（017855/017856）跟踪中证石化产业指数，聚焦"大能源"安全逻辑。 不仅能分享下游化工品的利润修复，此外通过高配"三桶油"等炼化龙头，锁定能源上游资源价值，在油 价上行周期具备更强的业绩韧性。 （文章来源：每日经济新闻） ...

来源：新浪基金∞工作室 2月4日，石油ETF（561360）开盘涨1.42%，报1.431元。石油ETF（561360）重仓股方面，中国石油开 盘涨2.01%，中国海油涨1.98%，中国石化涨0.79%，杰瑞股份涨0.98%，招商轮船涨1.56%，广汇能源涨 1.30%，中远海能涨0.82%，恒力石化涨1.82%，荣盛石化涨0.79%，洲际油气涨2.24%。 石油ETF（561360）业绩比较基准为中证油气产业指数收益率，管理人为国泰基金管理有限公司，基金 经理为苗梦羽，成立（2023-10-23）以来回报为41.01%，近一个月回报为14.47%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 ...

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) announced the incentive income for executives of central enterprises for the 2022-2024 term, with a total of 87 enterprises disclosing their incentive income figures. Group 1: Incentive Income Overview - The total incentive income for central enterprise executives consists of annual salary and term incentive income, with the latter being distributed every three years [1]. - Notable figures include: - Jiao Houliang, Chairman of China National Petroleum Corporation, with an incentive income of 86.21 million RMB for the 2022-2024 term [1]. - Ma Yongsheng, Chairman of Sinopec, with an incentive income of 84.81 million RMB [3]. - Wang Dongjin, Chairman of China National Offshore Oil Corporation, with an incentive income of 86.06 million RMB [4]. Group 2: Specific Executive Incentive Income - Zhang Wei, Chairman of the National Oil and Gas Pipeline Group, has an incentive income of 78.17 million RMB [6]. - Meng Zhenping, Chairman of China Southern Power Grid, has an incentive income of 83.54 million RMB [8]. - Temperature of incentive income varies across different enterprises, with some executives like Liu Mingsheng from China Power Investment Corporation receiving 26.02 million RMB for the 2022-2024 term [13]. Group 3: Additional Notable Executives - Chen Zhongyue, Chairman of China Unicom, has an incentive income of 80.49 million RMB [17]. - Xu Peng, from China First Automobile Group, has an incentive income of 82.54 million RMB [23]. - Wang Xianming, Chairman of China Resources Group, has an incentive income of 82.44 million RMB [54].

Core Viewpoint - The article discusses the incentive compensation for executives of major state-owned enterprises in the energy sector in China for the 2022-2024 term, highlighting the amounts allocated to various leaders within these companies [1][3][4]. Group 1: Central Enterprises and Their Incentive Compensation - The State-owned Assets Supervision and Administration Commission (SASAC) has released the incentive compensation details for executives of central enterprises, which include companies like China National Petroleum Corporation (CNPC), China Petroleum & Chemical Corporation (Sinopec), and State Grid Corporation of China [1][3]. - The incentive compensation consists of annual salary and term incentive income, with the latter being distributed every three years [1]. Group 2: Individual Executive Compensation - For CNPC, the chairman Dai Houliang is set to receive an incentive income of 86.21 million RMB for the 2022-2024 term [3]. - In Sinopec, chairman Ma Yongsheng's incentive income is 84.81 million RMB, while other executives like Zhao Dong and Zhang Shaofeng have amounts of 83.23 million RMB and 75.35 million RMB respectively [4]. - China National Offshore Oil Corporation (CNOOC) chairman Wang Dongjin will receive 86.06 million RMB, with other executives like Zhou Xinhai and Huojian receiving 49.43 million RMB and 76.86 million RMB respectively [5]. Group 3: Summary of Other Major Enterprises - State Grid Corporation of China chairman Zhang Wei will receive 78.17 million RMB, while other executives like He Zhongwen and Jiang Changliang will receive 48.54 million RMB and 70.14 million RMB respectively [7]. - China Southern Power Grid's chairman Meng Zhenping is set to receive 83.54 million RMB, with other executives like Qian Chaoyang receiving 26.35 million RMB [10]. - China Huaneng Group's chairman Wenshu Gang will receive 63.47 million RMB, while other executives like Zhang Wenfeng and Dong Jianling will receive 39.02 million RMB and 67.79 million RMB respectively [11]. Group 4: Additional Notable Executives - In China Datang Corporation, chairman Zou Lei will receive 80.02 million RMB, while Liu Mingsheng and Zhang Chuanjiang will receive 44.23 million RMB and 17.78 million RMB respectively [12]. - China Huadian Corporation's chairman Jiang Yi will receive 63.24 million RMB, with other executives like Ye Xiangdong receiving 84.32 million RMB [14]. - National Energy Investment Group's former chairman Wang Xiangshi received 16.46 million RMB for his term, while other executives like Feng Laifa and Xu Xinfeng will receive 60.97 million RMB and 39.94 million RMB respectively [18].

Core Viewpoint - The demand for asphalt in China remains strong due to ongoing economic development and infrastructure construction, but the industry is entering a new phase characterized by supply surplus and limited capacity growth [2]. Group 1: Industry Overview - The asphalt industry in China has seen a steady increase in production capacity, reaching 79 million tons in 2023, with an annual increase of 8 million tons, representing a growth of 11.27% year-on-year [2]. - The average operating rate of refineries has remained low at around 50%, indicating a persistent supply surplus in the domestic asphalt market [2]. - The production profit for asphalt is expected to drop to its lowest point in recent years in 2024, which will further inhibit refineries from increasing production capacity [2]. Group 2: Demand and Supply Factors - The overall demand for asphalt is projected to decline due to local fiscal pressures and stricter approvals for infrastructure projects [2]. - Potential implementation of a consumption tax policy could significantly increase production costs, further weakening the willingness of refineries to expand production [2]. Group 3: Industry Development History - The asphalt industry in China began to develop significantly in the 1980s with the construction of high-grade highways, leading to increased demand for asphalt [7]. - The "Twelfth Five-Year Plan" period saw rapid development in various transportation modes, which further stimulated the asphalt industry [7]. - The "Thirteenth Five-Year Plan" period is characterized by a focus on supporting major national strategies, indicating a broad market potential for the asphalt industry [7]. Group 4: Industry Chain - The upstream of the asphalt industry chain includes raw materials such as coal, emulsifiers, modifiers, and petrochemicals [9]. - The midstream involves the production and manufacturing of asphalt, while the downstream applications include highways, waterproof building materials, municipal road construction, and airport construction [9]. Group 5: Future Outlook - The asphalt industry is expected to face stagnation in capacity growth due to multiple factors, including declining demand and rising production costs [2]. - The continuous expansion of the highway network and periodic maintenance needs will provide stable and sustained market demand for the asphalt industry in the future [14].

2月4日，油气ETF华泰柏瑞（561570）开盘涨1.22%，报1.331元。油气ETF华泰柏瑞（561570）重仓股 方面，中国海油开盘涨1.98%，中国石油涨2.01%，中国石化涨0.79%，杰瑞股份涨0.98%，招商轮船涨 1.56%，广汇能源涨1.30%，中远海能涨0.82%，恒力石化涨1.82%，荣盛石化涨0.79%，洲际油气涨 2.24%。 声明：市场有风险，投资需谨慎。本文基于第三方数据库自动发布，不代表新浪财经观点，任何在本文 出现的信息均只作为参考，不构成个人投资建议。如有出入请以实际公告为准。如有疑问，请联系 biz@staff.sina.com.cn。 油气ETF华泰柏瑞（561570）业绩比较基准为中证油气产业指数收益率，管理人为华泰柏瑞基金管理有 限公司，基金经理为李沐阳，成立（2024-10-09）以来回报为31.70%，近一个月回报为14.01%。 来源：新浪基金∞工作室 ...

2月3日，中国石化（600028）胜利油田孤东采油厂东一联合站完成用能转型，来自地下3200米深处的采 出液余热成功替代传统燃气供热，标志着我国油气领域在中深层地热资源规模化工业应用领域取得积极 进展。 在推进"自身绿"的同时，胜利油田通过油地管网互通、热源共享，引领"周边绿"带动"区域绿"，年度绿 热交易量已达41万吉焦。 中国工程院院士孙焕泉认为，胜利油田"弃置井变热源井、老油田建新热田"的实践，推动油田热田协同 开发，为传统油气产业清洁转型提供了可复制可推广的成功范式，对实现油气产业新能源化、推动国家 能源结构调整具有重要意义。 据了解，胜利油田计划在2028年前实现集输系统绿热规模替代、采油系统经济替代、注汽系统攻关替 代，为传统能源企业绿色转型探索新路径。 据了解，该项目所在的济阳坳陷地热资源总量折合标煤约250亿吨，平均地温梯度达3.4-4.2摄氏度/百 米，是典型的"油盆+热盆"地质构造，近年来已建成各类地热余热利用项目51个，盘活弃置井25口，年 清洁供热能力达346万吉焦。 2024年，胜利油田确立"油田之中建热田"发展战略，构建"源用储联"清洁热能体系，加速从传统油气生 产企业向多元绿色能 ...

2025年，深层地热富集机理与高效开发全国重点实验室授予胜利油田"渤海湾油田热田协同开发试验基 地"称号。胜利油田将通过三年时间实现集输系统绿热规模替代、采油系统经济替代、注汽系统攻关替 代，为传统能源企业绿色转型探索新路径。 据了解，胜利油田在多个区域同步推进绿热开发。除孤东项目外，孤岛油区利用两口弃置井建成的山东 省首个用于油气生产的中深层地热项目已投产，年供热能力7.5万吉焦;新疆准噶尔盆地春风联合站采出 液余热利用项目年供热能力达27万吉焦。 胜利油田主要负责人杨勇表示，胜利油田正加速从传统油气生产企业向多元绿色能源供应商转型。济阳 坳陷地热资源总量折合标煤约250亿吨，平均地温梯度达3.4—4.2摄氏度/百米，是典型的"油盆+热盆"地 质构造。近年来，该油田坚持油田热田协同开发，已建成各类地热余热利用项目51个，盘活弃置井25 口，年清洁供热能力达346万吉焦。 2024年，胜利油田确立"油田之中建热田"发展战略，构建"源用储联"清洁热能体系，推动老油田绿色转 型。在推进自身绿的同时，该油田通过油地管网互通、热源共享，引领周边绿、带动区域绿，年度绿热 交易量已达41万吉焦。 3日，中石化胜利油田孤东 ...