Core Viewpoint - The article highlights the proactive measures taken by domestic oil and chemical companies in China to ensure safety and supply during severe flooding caused by extreme weather conditions in northern regions [1][4]. Group 1: Emergency Response and Operations - In response to heavy rainfall, China Petroleum Shandong Sales Company activated an emergency response mechanism, conducting thorough inspections of low-lying and key stations to ensure equipment resilience against the storm [3]. - All gas stations in Inner Mongolia have resumed normal operations by July 26, ensuring continuous fuel supply and safety during the flooding [4]. - China Petrochemical Hebei Petroleum initiated an emergency plan to secure the operation of energy supply stations and restore services to affected stations promptly [4][5]. Group 2: Flood Prevention Measures - Companies are implementing strict flood prevention measures, including regular inspections of drainage systems and establishing emergency response teams to prepare for potential disasters [6]. - China Petroleum and Chemical Corporation has set up a 24-hour monitoring system to closely observe weather changes and potential risks, ensuring immediate action can be taken if necessary [3][4]. Group 3: Support for Key Sectors - A "green channel" for fuel supply has been established to prioritize rescue vehicles and essential services such as electricity, communication, and transportation during the flooding [5]. - The companies are ensuring that critical sectors maintain uninterrupted fuel supply, demonstrating their commitment to supporting disaster relief efforts [5].

公告称，今年上半年，面对严峻复杂的经营形势，公司加大生产经营优化力度，从严从紧控制成本费 用。但受国际原油价格大幅下跌、石油石化市场竞争激烈、化工市场毛利低迷等因素影响，上半年归属 于母公司股东的净利润同比下降。 智通财经APP获悉，中石化(00386)低开逾2%，截至发稿，跌2.39%，报4.49港元，成交额4053.63万港 元。 消息面上，中国石化发布业绩预告，按中国企业会计准则，预计2025年上半年实现净利润201亿至216亿 元人民币，同比下跌39.5%至43.7%。中石化预测，按中国企业会计准则，今年上半年扣除非经常性损 益后净利润将达200亿至215亿元，同比下降39.6%至43.8%。 （原标题：港股异动 | 中石化(00386)低开逾2% 预计上半年归母净利润同比下降39.5%至43.7%） ...

Market Overview - On July 31, 2025, A-shares experienced a decline with the Shanghai Composite Index falling by 1.18%, the Shenzhen Component Index down by 1.73%, and the ChiNext Index decreasing by 1.66% [1] - Hong Kong stocks also faced a downturn, with the Hang Seng Index dropping by 0.57% to 23,157.97 points, and the Hang Seng Tech Index falling by 0.7% [1] - U.S. stocks closed lower, with the Dow Jones Industrial Average down by 0.74% and the S&P 500 Index decreasing by 0.37% despite reaching historical highs during the day [1] New Stock Subscription - Guangdong Jiankang, a new stock on the ChiNext, has an issue price of 6.56 yuan per share and a price-to-earnings ratio of 26.48 times. The company specializes in providing inspection and testing technical services in the construction engineering sector, with inspection and testing services accounting for 98% of its revenue [3] Policy Developments - The State Council announced a personal consumption loan interest subsidy policy aimed at reducing credit costs for residents and financing costs for service industry entities, which is expected to stimulate consumption and enhance market vitality [4] - The State Council also approved the "Artificial Intelligence+" action plan to promote the large-scale commercialization of AI applications, leveraging China's complete industrial system and large market scale [5] - The National Healthcare Security Administration is supporting the clinical application and pricing of new technologies such as brain-computer interfaces, with new pricing mechanisms established for various medical technologies to encourage innovation in pharmaceuticals and medical devices [5]

Core Insights - The 2025 Fortune Global 500 list was released, with China having 130 companies, maintaining its position as the second-largest contributor globally, and the average profit of these companies increased by 7.4% [2][3] - The total revenue of the companies on the list reached approximately $41.7 trillion, accounting for over one-third of the global GDP, with both total assets and net assets at an all-time high [2][3] - Employment numbers among the listed companies decreased compared to the previous year [2] Group 1: Company Rankings - Walmart retained its position as the largest company globally for the twelfth consecutive year, followed by Amazon in second place [3] - Three Chinese companies made it to the top ten: State Grid at third, and PetroChina and Sinopec at fifth and sixth, respectively [3] - The number of U.S. companies on the list decreased by one to 138, while Japan had 38 companies, down by two from last year [3] Group 2: Chinese Companies Performance - Although the total number of Chinese companies decreased by three compared to last year, the quality improved significantly, with an average profit of $4.2 billion, marking a historical high [3] - BYD entered the global top 100 for the first time, ranking 91st, a jump of 52 places from the previous year [3] - Other notable Chinese companies that improved their rankings include Luxshare Precision (up 65 places to 423), Tencent (up 25), Huawei (up 20), and Midea (up 31), while Country Garden returned to the list at 460th [3] Group 3: Guangdong Region Highlights - The Greater Bay Area had 23 companies on the list, with Guangdong contributing 18, an increase of one from last year, covering sectors such as automotive, electronics, home appliances, and finance [4] - Shenzhen had 9 companies, Guangzhou 6, Foshan 2, Dongguan 1, and Hong Kong 5 [4] - Guangzhou Pharmaceutical Group ranked 459th overall and was the only Chinese company in the pharmaceutical sector to be listed, ranking 14th in its industry category [4]

Key Points - Tibet Tourism may apply for suspension of trading if significant abnormalities occur in stock transactions [1] - Southern Road Machinery's stock price has deviated from its fundamental situation [1] - Industrial Fulian's major customers and products have not undergone significant changes [1] - Yingweike has established a relatively complete liquid cooling technology and product solution capability [1] - Victory Energy's operational situation remains normal with no significant changes in the internal and external business environment [1] - Qizheng Tibetan Medicine's operational situation is normal with no significant changes in the internal and external business environment [1] - Dongxin Co. states that its investment in Shanghai Lishuan's chip products is not applicable for large model computing clusters [1] - Guosheng Co. has obtained project filing related to PEEK from its wholly-owned subsidiary [1] - Action Education's actual controller proposed a mid-term dividend of 10 yuan per 10 shares [1] Mergers and Acquisitions - Darui Electronics plans to acquire 80% of Weiste's equity through capital increase and share acquisition [1] - Dashengda intends to acquire 30% equity of Thailand's Far East [1] Financing - Aoshikang plans to issue convertible bonds not exceeding 1 billion yuan for high-end printed circuit board projects [1] - Sixuan New Materials intends to raise no more than 466 million yuan through a private placement [1] - Changhua Chemical plans to raise no more than 230 million yuan for a carbon dioxide polyether project [1] Share Buybacks and Reductions - Fuanna plans to repurchase shares worth between 55.85 million and 104 million yuan [1] - Jiangnan Yifan's board member intends to increase his stake in the company [1] - Jieya Co. and its concerted parties plan to reduce their holdings by no more than 4.95% [1] - Other companies including Tongda Co., Haohan Deep, and Wanhu Chemical also plan to reduce their holdings [1] Operational Data - Sinopec expects a net profit decline of 39.5% to 43.7% year-on-year for the first half of the year [1] - Qingdao Bank reported a net profit of 3.065 billion yuan for the first half, up 16.05% year-on-year [1] - Daodaquan's net profit increased by 563.15% year-on-year, proposing a dividend of 1.76 yuan per 10 shares [1] - Zhengdan Co. reported a net profit increase of 120.35% year-on-year, proposing a dividend of 3 yuan per 10 shares [1] - Other companies reported varying profit changes, including losses and significant increases [1] Contracts and Major Investments - Sanhui Electric signed a framework contract for robot equipment sales [1] - Zhejiang University Network New's subsidiary won a smart engineering project worth 94.2712 million yuan [1] - New Aluminum Times plans to invest no less than 500 million yuan in a project for lightweight, high-strength auto parts [1] - Zhishang Technology will use part of its raised funds for a smart manufacturing production base in Vietnam [1]

Mergers and Acquisitions - Darui Electronics plans to acquire 80% stake in Weiste Technology through capital increase and equity purchase, investing 30 million yuan for new registered capital of 1.7143 million yuan and 134 million yuan for 76.57% stake from existing shareholders [1] - Jichuan Pharmaceutical's acquisition by Cao Fei has been completed, with Cao Fei controlling 56.07% of the company's shares post-transaction, totaling 517 million shares [2] Earnings Disclosure - Jiejia Weichuang expects a net profit attributable to shareholders of 1.7 billion to 1.96 billion yuan for the first half of 2025, representing a year-on-year increase of 38.65% to 59.85% [2] - Sinopec anticipates a net profit attributable to shareholders of 20.1 billion to 21.6 billion yuan for the first half of 2025, a decline of 39.5% to 43.7% compared to the same period last year [3] - Qingdao Bank reported a net profit attributable to shareholders of 3.065 billion yuan for the first half of 2025, reflecting a year-on-year growth of 16.05% [4] Shareholding Changes - Tongda Co., Ltd. announced that shareholder Huasheng Baili plans to reduce its stake by up to 3%, amounting to a maximum of 2.664 million shares from August 22 to November 21, 2025 [5] - Haohan Depth disclosed that shareholder Lianchuang Yongqin intends to reduce its stake by up to 2.17%, equating to a maximum of 344,140 shares due to personal funding needs [6] - Jieya Co., Ltd. reported that major shareholder Tongling Mingyuan plans to reduce its stake by up to 4.95%, totaling a maximum of 557,150 shares within three months after the announcement [6]

Core Viewpoint - The article highlights the disappointing financial performance of major chemical companies, including Covestro, BASF, and Dow, as well as Sinopec, indicating a broader trend of economic weakness in the industry [1][6]. Covestro Performance Summary - Covestro reported stable sales volume but a revenue decline of 8.4% to €3.4 billion, with EBITDA down 15.6% to €270 million, and a net loss of €59 million compared to a loss of €72 million in the same period last year [2]. - The Functional Materials segment generated €1.6 billion in sales (down from €1.8 billion), with EBITDA of €149 million (down from €196 million). The Solutions and Specialties segment had sales of €1.7 billion (down from €1.8 billion) and EBITDA of €175 million (slightly up from €174 million) [3]. - The company faced significant impacts from unexpected increases in U.S. import tariffs, which disrupted global supply chains for key customer industries, leading to a severe oversupply situation and a substantial drop in global prices, particularly in the Asia-Pacific region [3]. Economic Outlook - For the full year 2025, Covestro anticipates continued economic weakness with no signs of recovery, projecting EBITDA between €700 million and €1.1 billion and free operating cash flow between -€400 million and €100 million [4]. - The third quarter EBITDA is expected to range from €150 million to €250 million [4]. Sinopec Performance Summary - Sinopec expects a net profit attributable to shareholders of between ¥20.1 billion and ¥21.6 billion for the first half of 2025, representing a decline of 39.5% to 43.7% year-on-year [7]. - The company attributes its performance decline to significant drops in international crude oil prices, intense competition in the oil and petrochemical markets, and low margins in the chemical market [8]. - Key production metrics show a decrease in crude oil processing volume and significant declines in gasoline and diesel production, with total refined oil sales down 3.4% [8][9].

Group 1 - The core viewpoint of the news is that Sinopec expects a significant decline in net profit for the first half of 2025, primarily due to falling international oil prices and increased market competition [1] - Sinopec anticipates a net profit attributable to shareholders of 20.1 billion to 21.6 billion yuan, representing a year-on-year decrease of 39.5% to 43.7% [1] - The company's non-recurring net profit is projected to be between 20 billion and 21.5 billion yuan, also reflecting a decline of 39.6% to 43.8% compared to the previous year [1] Group 2 - In the first quarter of 2025, Sinopec reported an operating revenue of 735.36 billion yuan, a decrease of 6.9% year-on-year, and a net profit of 13.26 billion yuan, down 27.6% year-on-year [1] - The company’s oil and gas equivalent production reached 262.81 million barrels, marking a year-on-year increase of 2.0% [2] - The crude oil processing volume was 119.97 million tons, showing a decline of 5.3% year-on-year, while ethylene production increased by 16.4% to 7.563 million tons [2]

Macro Dynamics - The State Administration for Market Regulation will convert the pilot commission into a formal commission for conducting antitrust reviews of certain operator concentrations from August 1, 2025, after a successful pilot period from August 1, 2022, to July 31, 2025 [1] Financial Institutions - Zheng Yu has officially taken on the roles of Party Secretary, Chairman, and General Manager of Wukuang Securities, having previously served in various positions within the company [5] - Qingdao Bank reported a net profit of 3.065 billion yuan for the first half of 2025, representing a year-on-year increase of 16.05%, with total operating income of 7.662 billion yuan, up 7.5% [6] Market Data - On July 31, the three major indices fell by over 1%, with the Shanghai Composite Index down 1.18%, the Shenzhen Component Index down 1.73%, and the ChiNext Index down 1.66%. The total market turnover approached 2 trillion yuan, with over 4,200 stocks declining [7] - The financing balance of the two markets increased by 2.168 billion yuan, with the Shanghai Stock Exchange's balance at 1,001.228 billion yuan and the Shenzhen Stock Exchange's balance at 963.026 billion yuan [9] Company Dynamics - Industrial Fulian announced that there have been no significant changes in its main customers and products amid recent stock price fluctuations [13] - Sinopec expects a net profit of 20.1 billion to 21.6 billion yuan for the first half of 2025, a decrease of 39.5% to 43.7% year-on-year, due to factors such as a significant drop in international oil prices and intense market competition [14] - Heng Rui Medicine received approval for clinical trials of HRS-5041, a new drug for prostate cancer treatment, which shows potential in overcoming resistance compared to second-generation AR inhibitors [16]

Core Viewpoint - The article discusses the current state of the investment market, focusing on the performance of various sectors and the implications of regulatory changes on investment strategies. Group 1: Insurance and Investment Strategies - The podcast highlights the rapid growth of the insurance sector since 2022 and the underlying logic behind this trend [5] - It discusses the regulatory push to lower the insurance preset interest rates starting in 2024, which is expected to impact investment decisions [6] - The assessment of state-owned insurance companies' evaluation mechanisms is seen as beneficial for the stock market [6] - Recommendations for investment allocation are provided, suggesting diversification and balanced approaches rather than chasing hot stocks [20] Group 2: Market Performance and Trends - The equity market experienced significant declines, with over 80% of stocks falling and a median drop of approximately 1.45% [10] - External factors, particularly U.S.-China trade negotiations, are influencing market sentiment, with the U.S. gaining a psychological advantage [12] - Internal market dynamics show a cooling of "anti-involution" trading, leading to declines in previously high-performing sectors like steel and coal [14] - Commodity prices have returned to previous levels, indicating a correction in the market [15] Group 3: Specific Stock Insights - The stock of a pharmaceutical company, referred to as "药X," fell by 5.6% following a planned share placement, reflecting market reactions to corporate actions [21] - The article suggests maintaining good relations with company management for better insights into stock movements [22] Group 4: Future Outlook and Recommendations - The company advises waiting for upcoming earnings reports from major firms like Apple before making further investment decisions [23] - It notes that some fund companies have relaxed purchase limits on certain products, indicating a shift in market accessibility [24]