油田在国内率先应用"太阳能光热+超低氮高效燃烧"耦合工艺，成功破解了传统洗井加热能耗高、水温 不达标的行业难题，实现了采出水水质与水温的双重提升。规模化绿电应用带来了显著的经济效益，推 动吨油操作成本降低达20%，实现了环保与增效的双赢。 凭借系统性布局与前沿实践，孤东油田已完成国内油田企业首份原油与天然气产品碳足迹评价，并编制 了中国石化首个《零碳采油厂建设规划》。按照规划，孤东油田将于"十四五"期末建成近零碳采油厂， 并力争在"十五五"末期实现零碳目标。 作为胜利油田的核心产能区块与中国石化重要的新能源产业示范基地，孤东油田坚定不移推进绿色低碳 转型。聚焦于光伏发电与储能配套，该厂构建了以绿电为主、多能互补的能源新格局。目前，全油区已 建成光伏装机规模达233兆瓦，年发电量高达1.3亿千瓦时。这些光伏设施利用锅炉房屋顶、闲置农业大 棚等场地资源，实现土地集约化利用。2024年，所发绿色电力已实现100%就地消纳，为76口油井提供 了稳定可靠的清洁动力，累计减少碳排放26.66万吨。 为确保绿电供应的稳定性与高效性，孤东油田同步配套建设了10兆瓦/20兆瓦时的电化学储能项目，有 效平抑了光伏发电的间歇性波动 ...

截至2026年2月3日 13:06，中证石化产业指数(H11057)强势上涨1.56%，化工行业ETF易方达(516570)上 涨1.99%，盘中成交2242.35万元。 截至2月2日，化工行业ETF易方达(516570)最新规模达15.37亿元，最新份额达14.53亿份，均创成立以来 新高。 从资金净流入方面来看，化工行业ETF易方达(516570)近12天获得连续资金净流入，最高单日获得3.91 亿元净流入，合计"吸金"13.57亿元。 光大证券指出，全球深海资源战略价值凸显，"三桶油"及油服有望强化资源领军地位。在当前地缘政治 局势动荡不安、全球单边主义行动盛行的背景下，全球战略资源博弈加剧，深海资源逐渐成为各方争夺 的焦点。虽然中期内由于全球立法停滞和环保担忧问题，深海矿产资源难以释放供给，但一旦技术和规 则突破，有望重塑全球矿产供给结构，长期来看深海资源仍有望成为大国战略资产。 展望2026年，"三桶油"将继续维持高资本开支，不断加强天然气市场开拓，加快中下游炼化业务转型， 有望实现穿越油价周期的长期成长。油服方面，国内高额上游资本开支投入将有力保障上游产储量的增 长，使得油服企业充分受益，叠加海外 ...

Group 1 - The core viewpoint of the news highlights the strong performance of the petrochemical sector, with the China Petrochemical Industry Index rising by 2.41% and significant gains in individual stocks such as Zhejiang Longsheng and Guangwei Composites [1][2] - The Petrochemical ETF (159731) has seen a price increase of 2.46%, with a trading volume of 1.78 billion yuan and a turnover rate of 10.87%, indicating active market participation [1] - Over the past 19 days, the Petrochemical ETF has experienced continuous net inflows, totaling 14.13 billion yuan, with a peak single-day inflow of 3.48 billion yuan [1][2] Group 2 - The severe winter storm affecting the Gulf Coast of the United States has led to production disruptions among major chemical companies, resulting in a 3.1% increase in PVC prices and signs of supply tightness in some regions [2] - The outlook for the chemical industry in 2026 suggests a potential upward cycle due to supply constraints and recovering demand, with a recommendation to maintain a positive rating for the sector [2] - The top ten weighted stocks in the China Petrochemical Industry Index account for 55.71% of the index, with companies like Wanhua Chemical and China Petroleum being significant contributors [2][4]

国家知识产权局信息显示，中石化南京化工研究院有限公司、中国石油化工股份有限公司取得一项名 为"具有酸性气体吸收功能的组合物和应用"的专利，授权公告号CN116116171B，申请日期为2021年11 月。 中国石油化工股份有限公司，成立于2000年，位于北京市，是一家以从事石油和天然气开采业为主的企 业。企业注册资本12173968.9893万人民币。通过天眼查大数据分析，中国石油化工股份有限公司共对 外投资了269家企业，参与招投标项目5000次，财产线索方面有商标信息45条，专利信息5000条，此外 企业还拥有行政许可41个。 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 来源：市场资讯 天眼查资料显示，中石化南京化工研究院有限公司，成立于1994年，位于南京市，是一家以从事批发业 为主的企业。企业注册资本8000万人民币。通过天眼查大数据分析，中石化南京化工研究院有限公司共 对外投资了3家企业，参与招投标项目488次，专利信息1755条，此外企业还拥有行政许可28个。 ...

Group 1 - Trump announced that Mexico will stop supplying oil to Cuba as part of increased pressure on the country, although he did not provide specific details on this decision [1] - As of January, WTI crude oil prices increased by 14% month-on-month but decreased by 11% year-on-year. OPEC+ is adjusting its production strategy between market share and price stability, with an increase in production expected starting in 2025, but facing challenges from weak demand and oversupply [1] - By early 2026, geopolitical risks affecting oil prices are expected to rise, leading to potential supply constraints [1] Group 2 - As of January 30, 2026, the National Petroleum and Natural Gas Index (399439) had its top ten weighted stocks, including China National Petroleum, China National Offshore Oil, and Sinopec, which collectively account for 66.76% of the index [2] - The Petroleum ETF Penghua closely tracks the National Petroleum and Natural Gas Index, reflecting the price changes of listed companies in the oil and gas sector on the Shanghai and Shenzhen stock exchanges [2]

Core Viewpoint - China Petroleum & Chemical Corporation (Sinopec) has significantly contributed to the economic and energy landscape in Chongqing during the 14th Five-Year Plan period, achieving over 14 billion yuan in taxes and sales of 24 million tons of oil, gas, and fine chemical products, while also ensuring energy security through the development of shale gas resources [3][4][5]. Group 1: Economic Contributions - Sinopec's enterprises in Chongqing have generated over 14 billion yuan in taxes and sold 24 million tons of oil, gas, and fine chemical products during the 14th Five-Year Plan [3][4]. - The company has confirmed shale gas reserves exceeding 1 trillion cubic meters, with production surpassing 80 billion cubic meters, providing stable energy supply for over 200 million residents along the Yangtze River Economic Belt for more than a decade [5][6]. Group 2: Technological Advancements - Sinopec has developed a six-core technology system for shale gas extraction, addressing the unique challenges of deep and complex geological formations in China [6]. - The implementation of AI-driven optimization systems has improved production capacity forecasting accuracy to over 85%, showcasing a shift from experience-driven to data-driven decision-making [6][7]. Group 3: Environmental Initiatives - Sinopec has invested in environmental protection measures, achieving a 20% reduction in solid and hazardous waste compared to the end of the 13th Five-Year Plan, with a comprehensive utilization rate exceeding 98% [11][15]. - The company has established a wastewater treatment system that ensures 100% reuse or resource recovery of produced water, contributing to sustainable practices in the shale gas sector [15]. Group 4: Industry Transformation - Sinopec is transitioning from a raw material supplier to a provider of material solutions, focusing on high-end fine chemicals and new materials, aligning with national industrial development strategies [9][10]. - The company has successfully developed domestic alternatives for high-end materials, reducing reliance on imports and enhancing the competitiveness of local manufacturing [10]. Group 5: Community Engagement - Sinopec's operations have created over 12,000 direct jobs and fostered a cluster of over 50 related enterprises, generating an annual output value exceeding 10 billion yuan [16]. - The company actively participates in rural revitalization efforts, including educational support and local industry development, demonstrating its commitment to social responsibility [17]. Group 6: Future Outlook - Looking ahead to the 15th Five-Year Plan, Sinopec aims to deepen its technological innovations, enhance green and low-carbon transformations, and expand its comprehensive energy services to support the construction of a modernized Chongqing [18][19].

月论高股息：防御配置价值显现 20260202 摘要 红利股配置价值上升，周期型红利股如石油石化、建材、有色等表现强 劲。精工红利择时模型转为看多，建议关注公用事业、保险、出版等稳 定性高股息板块，以及铁路、公路、环保、大众消费和地产等潜力型高 股息板块。 险资出于现金收益和股息需求，将继续增配红利股，成为确定性主题。 年初分红险保单销售良好，保费流入增加，险资将在长债、成长股和红 利股中趋势性增配红利。 高速公路板块调整幅度较大，龙头企业如招商公路股息率达 4~4.5%， 部分小票超 5%。1 月货运量边际走强，春运旺季人流出行预测良好， 板块景气度上行，资金流入情况良好，推荐龙头企业。 建筑建材行业看好央企重组优化提速背景下低估值企业，中长期看好涂 料和定制板材赛道，推荐兔宝宝。水泥领域看好业绩稳定且具有投资收 益来源的公司，如防水企业雨虹。 建筑建材行业推荐中材国际和四川路桥等国央企或地方国企，其在局部 区域需求景气或出海业务方面具有较高的业绩增长确定性及分红确定性， 股息率约为 5.5%至 6%。 Q&A 近期市场波动较大，春节前后红利股的配置价值如何？ 近期受到海外地缘冲突和美联储主席人选变动的影响 ...

Summary of Key Points from Conference Call Records Industry Overview - The chemical industry is expected to experience a significant decline in new supply in 2026 and 2027, leading to an upward cycle due to price synergy effects and the exit of overseas capacity [1][2] - The tightening of national carbon emission targets will impact the approval of oil and infrastructure projects, pushing chemical companies towards green transformation [1][7] Core Insights and Arguments - Major chemical companies have made substantial fixed asset investments during the 14th Five-Year Plan, which are expected to translate into profits in the coming years, with some companies potentially having P/E ratios as low as 3-4 times [1][5] - The PX market is operating at high capacity utilization, with expected profits around 1,000 CNY/ton being sustainable due to the rapid digestion of new capacity [1][9] - The olefin market is projected to improve long-term, supported by national policies, with an expected upward cycle from 2027 to 2029 [1][11] Company-Specific Insights Wanhua Chemical - Fixed assets and construction projects have significantly increased, with potential profits at the bottom of the cycle estimated at 15-16 billion CNY, and central profit levels reaching around 30 billion CNY [3][20] - The company’s market cap corresponds to a P/E ratio of 8-9 times, indicating substantial profit potential as the cycle rebounds [20] Longbai Group - Fixed assets have grown significantly, with potential profits estimated at 12 billion CNY based on historical averages [21][22] - The company’s market cap corresponds to a P/E ratio of around 9 times, suggesting a favorable valuation [22] Rongsheng Petrochemical - Fixed asset investments have been significantly higher than those of Hengli Petrochemical, with potential peak profits estimated between 20 billion to 30 billion CNY [23][24] - Future profitability will depend on the market conditions for ethylene and its downstream products [24] Hengli Petrochemical - The company is seen as stable and a key indicator of product reversals, with significant overseas expansion potential [14][13] - Expected profits could reach 60-70 billion CNY if current favorable conditions persist [13] Shenghong Petrochemical - The company has not fully benefited from industry conditions but has significant upside potential, with expected profits from new energy sectors [12] Other Important Insights - The chemical industry is currently characterized by a shorter duration from the bottom of the down cycle to the upturn, aided by price synergy effects and high industry concentration [4] - The large refining industry is at the tail end of its capacity cycle, with cash flow expected to improve significantly [8] - The agricultural chemicals sector faces oversupply issues, with key signals from agricultural product prices [28] Market Trends and Future Outlook - The oil market is expected to improve in the second half of 2026, with prices potentially fluctuating between 70-80 USD per barrel [15][16] - OPEC is likely to maintain production levels, indicating a slow growth cycle for oil supply, which could stabilize prices [17] - The refrigerant market is expected to see price increases, although the rate of increase may slow down [33][34] This summary encapsulates the key points from the conference call records, highlighting the chemical industry's dynamics, company-specific insights, and broader market trends.

今年"情暖驿站"活动持续提供"3+10+X"免费服务，其中"3"即重点关怀春运返乡人群（自驾及乘车人 员）、卡车司机、返乡摩骑；"10+X"涵盖药品、热水、简易维修工具、手机充电、便民油桶、食品加 热、道路指引等10项基础服务，部分驿站还提供个性化服务。 中国青年报客户端广东肇庆2月2日电（邝思羽 中青报·中青网记者 林洁）今天，中国石化"情暖驿站·满 爱回家"大型春节公益活动启动，活动春运志愿者上岗仪式同步举行。即日起至3月14日，中国石化在广 东、广西、湖南、湖北、云南、贵州、江西等七省（区）春运客流集中的700座加能站开设"情暖驿 站"，为返乡及出行群众提供近20项暖心服务。 "我志愿参加情暖驿站志愿服务！"在广东肇庆康州南加能站现场，百人志愿者方队列队宣誓。春运期 间，将有超过8000名志愿者驻守"情暖驿站"，提供路线指引、热食分发、安全宣传等服务。 暖驿站"活动现场。主办方供图 2026年"情 2026年"情 暖驿站"活动现场。主办方供图 广东省青年志愿者行动指导中心主任张献伟说，"情暖驿站"已成为汇聚社会爱心的重要平台，众多志愿 者的加入为平安春运、温暖春运注入蓬勃的青春力量。 这是中国石化自20 ...

中石化大路80万吨/年煤制烯烃升级示范项目已由中国石油化工股份有限公司以《关于内蒙古能化公司大路80万吨/年煤制烯烃升级示范项目可 行性研究报告的批复》（石化股份计〔2025〕4号）批准建设，主要建设226万吨/年煤制甲醇装置（含煤气化、净化、甲醇合成、硫回收等）、 226万吨/年MTO装置（含OCC）、35万吨/年聚乙烯、45万吨/年聚丙烯、10万吨/年EVA/LDPE以及配套空分、IGCC热电站等公用工程和辅助设 施。 化化网煤化工——中国煤化工第一新媒体，在这里一起见证产业变迁。各项事宜请致电 or 微信 17810321517 1月27日至30日，中石化长城能源化工（内蒙古）有限公司大路80万吨/年煤制烯烃升级示范项目总体设计审查会在内蒙古呼和浩特市召开。 会议采用"会议审查+现场踏勘"相结合的方式，对项目总体设计开展全面、系统的专业评审。 中国石化集团公司相关部门、中石化燕山石化、中石化宁波工程有限公司、中国石化工程建设有限公司、中国石化项目管理公司等5家单位参 会。会议特邀天辰工程公司、上海工程公司、广州工程公司、工程质量监督总站、南京工程公司等单位37名专家组成评审专家组，对项目总体 设计进行严 ...