Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) is advancing its hydrogen energy logistics capabilities by successfully conducting long-distance transportation tests of hydrogen-powered logistics vehicles along the Yangtze River, connecting various hydrogen corridors and enhancing the hydrogen energy supply network [1][2]. Group 1: Hydrogen Logistics Development - Sinopec has completed a 1500-kilometer journey with three different models of hydrogen logistics vehicles, utilizing six hydrogen refueling stations along the route [1]. - The company has established two long-distance hydrogen corridors, namely the Beijing-Shanghai and the Western Land-Sea New Corridor, and five intercity hydrogen corridors [1]. - Future plans include expanding the hydrogen corridor network to connect with the Chengdu-Chongqing hydrogen corridor, aiming to fully integrate the hydrogen corridor along the Yangtze River [1]. Group 2: Hydrogen Production and Green Hydrogen Initiatives - Sinopec's hydrogen production capacity currently stands at 4.45 million tons per year, with significant projects such as the first factory-scale seawater hydrogen production research project in Qingdao [2]. - The company is developing integrated green hydrogen projects in Inner Mongolia, including a 30,000 tons/year wind-solar green hydrogen project and a 100,000 tons/year project in Ulanqab [2]. - Plans are underway to construct China's first large-scale, long-distance pure hydrogen transportation pipeline [2]. Group 3: Hydrogen Energy Infrastructure and Collaboration - Sinopec has established 11 hydrogen fuel cell supply centers and 146 hydrogen refueling stations, effectively covering the "3+2" hydrogen fuel cell demonstration city clusters [2]. - The company has formed a hydrogen energy equipment company to enhance collaboration with universities and research institutions, and is leading a joint initiative for green hydrogen production, storage, and transportation [2]. - Sinopec aims to respond to the State-owned Assets Supervision and Administration Commission's "Hydrogen Highway" initiative by developing hydrogen refueling highways and exploring sustainable business models for the hydrogen energy industry [2].

Market Overview - On September 25, the refining and trading sector rose by 0.05% compared to the previous trading day, with Donghua Energy leading the gains [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Stock Performance - Key stocks in the refining and trading sector showed varied performance: - Donghua Energy (002221) closed at 9.10, up 5.45% with a trading volume of 480,700 shares and a turnover of 427 million yuan [1] - Rongsheng Petrochemical (002493) closed at 9.42, up 1.51% with a trading volume of 255,000 shares and a turnover of 240 million yuan [1] - China Petroleum (601857) closed at 8.14, up 0.12% with a trading volume of 1,011,100 shares and a turnover of 823 million yuan [1] - China Petrochemical (600028) closed at 5.35, down 0.19% with a trading volume of 894,600 shares and a turnover of 478 million yuan [1] Capital Flow - The refining and trading sector experienced a net outflow of 109 million yuan from institutional investors, while retail investors saw a net inflow of 1.1 million yuan [2] - The capital flow for key stocks indicated mixed trends, with some stocks attracting significant retail interest despite overall outflows [3]

前几天本号报道，中石化成立资源循环回收新子公司 中石化（广东）环境科技有限公司 ，引起广泛热 议。此前，公司已参投 中国资源循环集团有限公 司 ，以及刚刚启动IPO的 化工 资源综合利用"小巨人" 昌德科技 。 点击阅读： 中石化，再成立新公司 中石化入股，又一化工新材料"小巨人"，启动IPO 9月20日，公司 与江陵县人民政府正式签署 年产100万吨绿色循环新材料项目投资协议 ， 主要涉及 废旧纺织品循环利用 。 据悉，恒逸集团通过 荆州恒逸资源循环有限公司 ，已在江陵县建成169个智能回收网点，构建了"县—镇—村"的三级回收体系，若项目全面达产，年回 收量可突破 20万吨 ，相当于减少30万吨二氧化碳排放。 目前，恒逸集团完成了全产业链布局，从废旧纺织品回收、分拣，到再生纤维生产、纺织加工，形成了一个完整且高效的产业闭环，并且通过控股新纤 维材料企业，将再生纤维辐射到了 东南亚市场 ，在国际上获得更大市场优势。 根据项目所述，恒逸集团采用了 化学法再生技术 ，将聚酯解聚为单体成分（PTA和乙二醇）后再重新聚合，并且其中还配合了恒逸自主研发的 "逸泰 康" 无锑聚酯技术 ，进一步减少了聚合过程的污染和环境影 ...

【DT新材料】 获悉， 9月23日， 中国石化 供 中国中车风电专用48K大丝束碳纤维产品在上海石化交付发运 ， 标志着中国石化自有技术大丝束碳纤维在风 电领域规模化应用取得重大突破。 48K大丝束碳纤维是目前工业级碳纤维的主流产品，相比传统小丝束碳纤维，其生产效率更高、成本更低、强度更高。今年7月，中国石化供应中国中车700吨自 有知识产权的48K大丝束碳纤维合同签订，产品用于中国中车大型风电叶片制造。 除上述突破之外 ， 9月17日，中石化旗下 上海石化生产的60K大丝束碳纤维新产品首次发布，填补了国内市场空白，产品性能达到国际领 先水平 ，在深海海上风电、建筑桥梁等领域有广阔应用前景。 与48K大丝束碳纤维相比，上海石化研发的60K大丝束碳纤维在单丝含量上提升了25%，同时力学性能也显著提升，强度提高了0.5GPa （吉帕斯卡），模量增加20GPa，可实现生产装置单线效率提升25%，并可助力提升下游复合材料拉挤等工序的生产效率。 随着国内风电产业逐步向深海进军，对于风电叶片的长度和模量有了更高要求。经测试验证，上海石化60K碳纤维丝束拉伸强度突破 4.9GPa，单股丝束可吊起1吨重物；弹性模量可达260 ...

Core Insights - The fourth (2025) Oil and Petrochemical Industry Exhibition and Yipai Industrial Products Exhibition opened on September 24 in Nanjing, showcasing over 500 leading enterprises and highlighting the latest domestic technologies in the oil and petrochemical sector [1][3] - The exhibition aims to facilitate deep communication and cooperation within the industry, promoting high-end, intelligent, and green development of oil and petrochemical equipment, which is crucial for national energy security and sustainable development [3] Group 1: Exhibition Overview - The exhibition features eight core areas: heavy equipment, energy storage, new energy, new materials, intelligence and automation, fluid control, comprehensive services, and smart logistics, covering the entire oil and petrochemical industry chain [5] - Significant products displayed include China National Petroleum Corporation's F-2800QHL ultra-deep well high-power five-cylinder drilling pump and China National Offshore Oil Corporation's first mobile thermal injection platform [5] Group 2: AI Applications - The exhibition showcases breakthroughs in AI applications, such as a molecular language pre-training model developed by Beijing Chemical Research Institute and a domestic first explosion-proof intelligent sample delivery robot by Petrochemical Yingke [7] - Huawei presented smart chemical solutions for process optimization and preventive maintenance, while Zhongkong Technology introduced the first time series large model TPT2 for high-precision simulation and cross-condition prediction [7] Group 3: Industry Discussions - The exhibition will run until September 26 and includes nearly 30 high-quality professional meetings focusing on topics like manufacturing brand internationalization, recycling, and collaborative innovation in the valve industry [8] - Co-hosted by the China Petroleum and Petrochemical Equipment Industry Association and Yipai E-commerce Co., the exhibition has successfully contributed to the innovation of oil and petrochemical technology and the cultivation of new productive forces [8]

Instrument: Equity issuer Status: New Submission Name of Issuer: China Petroleum & Chemical Corporation 24 September 2025 Date Submitted: Section I must be completed by a listed issuer where has been a charge in its issued shares or teasury shares which is discloseable pursuant to rule 13.25A of the Rules Gov .i.sting of Securities on The Stock Exchange of Hong King Limited the "Exchange") (the "Main Board Rules") or rule 17.27A of the Rules Governing the Listing of Securities o Exchange (the "GEM Rules"). ...

Core Viewpoint - The company has demonstrated significant performance growth, attributed to various strategic initiatives and market adaptations, particularly in traditional and new energy sectors [3]. Performance Growth Analysis - The company reported its highest profit in nearly a decade for 2024, with strong performance continuing into the first half of 2025. This growth is driven by several factors: - Optimization of traditional business through precise oil procurement and improved market share in gasoline and diesel, with increases of 0.46 and 0.93 percentage points respectively in the first half of 2025 [3]. - Transition to new energy and digital upgrades, including the operation of two LNG refueling stations and advancements in smart microgrid technology [3]. - Risk management strategies that led to zero risk incidents in 2024 and continued strict controls in 2025 [3]. - Integration of customer resources and innovative business models, including the establishment of a strategic customer department and the "Taishan +" strategy [3]. - Reforms and incentive mechanisms focusing on performance and efficiency in the workforce [3]. Business Planning and Development Trends - The company is focusing on non-oil business development aligned with Sinopec's "Easy Joy" brand, enhancing service models and exploring new profit growth points in automotive services and cultural tourism [4]. - The impact of rising penetration of new energy vehicles on traditional business is acknowledged, with a strategic shift towards becoming a comprehensive energy service provider [4]. - The company is responding to supply-side contraction in the petrochemical industry by leveraging its supply chain and brand advantages to stabilize traditional business, which will support its transition to new energy and non-oil sectors [4]. - Plans for high-quality development include consolidating traditional operations while accelerating the expansion of LNG refueling networks and charging stations [4]. - The company is addressing market disruptions caused by low-priced non-compliant oil through enhanced service and product quality [4]. - The implementation of the "Regulations on the Management of Refined Oil Circulation" is expected to standardize market operations, aligning with the company's compliance goals [4]. - Progress in clean energy transition includes the establishment of integrated charging and photovoltaic service systems, with 423 charging guns operational as of June 30, 2025 [4]. Share Buyback Progress - As of August 31, 2025, the company has not yet implemented its share buyback plan, with updates disclosed on September 3, 2025 [5].

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 中國石油化工股份有限公司 呈交日期： 2025年9月24日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 | 是 | | | 證券代號 (如上市) | 00386 | 說明 | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份）數 目 | 佔有關事件 ...

工程项目自2024年4月开工建设以来，作为联合EPC(工程总承包)单位的中石化四建公司和智汇工程设计院，并充分发挥工程管理 施工优势，精心组织、科学施工，克服了地质条件较差、施工场地狭窄、极端天气影响等诸多难题，狠抓严管保安全、细致入微 保质量、全力以赴保进度，在施工过程中积极采用新技术、新工艺，严格按照设计标准和施工规范推进工程建设，推动项目建设 提质快跑，为工程项目顺利投产做足了准备，保障了项目建设的"全程无忧"，再一次展现了石化四建铁军施工新实力。 9月23日，中国石化工程院油田化学剂成果转化中心(天津)项目在天津经开区南港工业区顺利投产。 据介绍，该项目工程投资额3.5亿多元，建筑面积2万多平方米，作为国内油田化学剂领域工艺最先进、规模最完备的中试科研转 化平台，将为中国石化集团、天津经开区乃至天津市科技创新体系的构建与完善提供关键支撑，是天津经开区"打造创新驱动新 引擎、建设科技创新高地"的重要实践载体。 该工程项目是中国石化天津南港高端新材料产业集群项目的重要组成部分，主要建设油田化学剂科学研究平台、产品质量检测平 台及科研成果小试的科研实验区，高分子聚合、液体合成、乳液聚合、固相反应、捏合反应的 ...

Group 1 - The threshold for entering the 2025 China Top 500 Enterprises list has increased to 47.96 billion yuan, marking a year-on-year rise of 579 million yuan, setting a new record [2] - A total of 15 companies have entered the "trillion yuan club" in 2025, indicating the substantial scale of leading enterprises, with energy and finance remaining the most stable sectors [2][8] - The top three companies by revenue are State Grid, China Petroleum, and Sinopec, collectively surpassing 900 billion yuan in revenue [2][3] Group 2 - Among the top ten companies, four experienced a decline in revenue compared to the previous year, with fluctuations in energy prices and demand impacting performance [3] - China Petroleum and Sinopec both saw rapid revenue growth in 2022-2023, exceeding 300 billion yuan, but are projected to decline to approximately 290 billion yuan in 2024-2025 [3][6] - JD Group has entered the top ten for the first time, while China Railway Construction has dropped to 11th place, with a revenue gap of 20.14 billion yuan between them in 2024 [3][8] Group 3 - The four major banks have shown continuous revenue growth, with Industrial and Commercial Bank of China leading the financial sector with a revenue of 1.63 trillion yuan in 2025 [7] - Agricultural Bank of China surpassed China Construction Bank in 2025, becoming one of the highest-grossing state-owned banks [7] - China Ping An's revenue has fluctuated, recovering to 1.14 trillion yuan in 2025 after a decline since 2021, while China Life surpassed 1.15 trillion yuan in the same year [7] Group 4 - The number of companies in the "trillion yuan club" has significantly increased from 8 in 2021 to 15 in 2025, reflecting a more diversified membership structure [8] - Traditional sectors such as energy, infrastructure, and finance maintain their stronghold, while emerging industries and the digital economy are gradually reshaping the landscape [8]