Core Insights - The U.S. Treasury has imposed sanctions on the Rizhao Shihua Crude Oil Terminal in China, impacting the handling of Iranian crude oil [2][3] - Three very large crude carriers (VLCCs) have diverted from their original destination to other ports in China due to these sanctions [1][2] - The sanctions are part of a broader strategy to disrupt Iran's energy export capabilities, with China being a significant buyer of sanctioned Iranian crude [2][3] Group 1: Sanctions and Impact - The latest sanctions target over 100 individuals, tankers, and an independent refiner, specifically affecting the Rizhao Shihua Crude Oil Terminal [2] - Sinopec, which owns 50% of the terminal, is likely to face disruptions in its crude oil imports, as the terminal is crucial to its operations [3] - The terminal accounts for approximately 20% of Sinopec's imported crude, indicating a significant potential impact on the company's supply chain [3] Group 2: Oil Import Trends - China reported a 3.9% increase in total oil imports for September, averaging about 11.5 million barrels per day, although this reflects a 4.55% decline from August [4] - The effect of the sanctions on overall Chinese oil imports remains uncertain, as importers may adapt by transferring oil from larger vessels to smaller ones for delivery to other Sinopec refineries [4]

行 业 及 产 业 行 业 研 2025 年 10 月 15 日 油价环比小幅上行，2025Q3 上游 景气有所修复，中下游景气有待复 苏 看好 ——石油化工 2025 年三季报业绩前瞻 证 券 研 究 证券分析师 刘子栋 A0230523110002 liuzd@swsresearch.com 邵靖宇 A0230524080001 shaojy@swsresearch.com 宋涛 A0230516070001 songtao@swsresearch.com 研究支持 丁莹 A0230125070005 dingying@swsresearch.com 联系人 丁莹 (8621)23297818× dingying@swsresearch.com 本研究报告仅通过邮件提供给 中庚基金 使用。1 本期投资提示： ⚫ 风险提示：地缘政治影响；石油及化工品价格波动；经济下行风险。 请务必仔细阅读正文之后的各项信息披露与声明 究 / 行 业 点 评 报 告 石油石化 相关研究 - ⚫ 2025Q3 原油价格环比上涨、同比下降，成品油价格下调：2025 年 7、8、9 月布伦特原 油均价分别为 69.6、67.3、6 ...

EE305 Next Day Disclosure Return (Equity issuer - changes in issued shares or treasury shares, share buybacks and/or on-market sales of treasury shares) Instrument: Equity issuer Status: New Submission Name of Issuer: China Petroleum & Chemical Corporation Date Submitted: 14 October 2025 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 Ho ...

证券之星消息，10月14日炼化及贸易板块较上一交易日上涨0.63%，万邦达领涨。当日上证指数报收于 3865.23，下跌0.62%。深证成指报收于12895.11，下跌2.54%。炼化及贸易板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入(元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600256 广汇能源 | | 5347.36万 | 6.80% | -4102.03万 | -5.22% | -1245.33万 | -1.58% | | 000819 | 军阳兴长 | 2707.21万 | 4.50% | -2998.03万 | -4.98% | 290.82万 | 0.48% | | 002476 | 宝草股份 | 2304.01万 | 6.91% | -50.27万 | -0.15% | -2253.73万 | -6.76% | | 000301 | 东方盛虹 | 1298.10万 | 9.55% | -37.45万 | -0.28% | ...

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10月14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 ...

企查查APP显示，近日，中石化循环利用科技有限公司成立，法定代表人为李楚新，注册资本2亿元， 经营范围包括再生资源加工、再生资源销售、新材料技术推广服务、工业互联网数据服务等。企查查股 权穿透显示，该公司由中国石化(600028)间接全资持股。 ...

中石化大连院自主研发高稳定电解液、一体化密封电堆结构创新和安全环保容量恢复工艺，核心技术取 得突破，解决了制约产业化的关键问题。该项目投用后，成功构建"光伏+储能+充电"分布式综合能源 单元，太阳能转化的清洁电力可优先储存，并按需智能释放，显著提升局部电网调节能力与供电韧性， 实现新能源就地消纳和灵活调度。下一步，中石化大连院将持续推进技术迭代和规模化应用，为城市能 源结构优化、构建绿色低碳能源体系提供支撑。 中化新网讯 近日，中石化(大连)石油化工研究院有限公司(简称中石化大连院)自主研发的125千瓦铁铬 液流电池储能系统在中石化河北石油中心庄6兆瓦光伏场站成功投用。项目交流侧能效超70%，实现光 伏、储能、充电一体化融合，标志着中石化长时储能技术系统集成和工程化获新突破。 ...

ല്ലാ EH 作 葡 41.9 1950 ...

以下为研究报告摘要： 十月份建议关注：1、三季报行情；2、低估值行业龙头公司；3、"反内卷"对相关子行 业供给端影响；4、自主可控日益关键背景下的电子材料公司。 中银证券近日发布化工行业周报：本周（10.06-10.12）均价跟踪的100个化工品种中， 共有20个品种价格上涨，32个品种价格下跌，48个品种价格稳定。跟踪的产品中34%的产品 月均价环比上涨，49%的产品月均价环比下跌17%的产品月均价环比持平。WTI原油期货价 格收于58.9美元/桶，收盘价周跌幅3.25%；布伦特原油期货价格收于62.73美元/桶，收盘价 周跌幅2.79%。 投资建议 截至10月10日，SW基础化工市盈率（TTM剔除负值）为26.40倍，处在历史（2002年至 今）78.27%分位数；市净率为2.29倍，处在历史59.14%分位数。SW石油石化市盈率（TTM 剔除负值）为11.68倍，处在历史（2002年至今）25.68%分位数；市净率为1.15倍，处在历 史21.58%分位数。今年以来，行业受关税相关政策、原油价格大幅波动等因素影响较大， 十月份建议关注1、三季报行情；2、低估值行业龙头公司；3、"反内卷"对相关子行业供给 ...

Key Insights - The recent announcement by two departments regarding the governance of price disorder in the market is expected to stabilize the prices of epoxy propane and polyether, leading to a positive outlook for the chemical industry [3][4] - The chemical industry in China is anticipated to undergo a revaluation due to the reduction of overcapacity globally, which could enhance cash flow and dividend yields for companies in this sector [4] - The "Work Plan for Stable Growth in the Petrochemical Industry (2025-2026)" aims for an average annual growth of over 5% in the added value of the petrochemical industry, focusing on innovation and quality improvement [5][6] Industry Analysis - The chemical industry is expected to see a significant increase in demand for chromium salts due to the rising orders for gas turbines and commercial aircraft engines, with a projected shortfall of 250,000 tons by 2028 [8] - The report highlights four key investment opportunities in the chemical sector: low-cost expansion, improved industry conditions, new materials, and high dividend yields from state-owned enterprises [9][10] - The report emphasizes the importance of focusing on leading companies in various sub-sectors, such as Wanhua Chemical and Hualu Hengsheng, which are well-positioned to benefit from these trends [11] Market Trends - The report notes that the price of Brent and WTI crude oil has decreased by 3.53% and 4.04% respectively, indicating a potential impact on the chemical industry [12] - The domestic market for epoxy propane has shown a steady upward trend, supported by supply constraints and increased purchasing activity during the holiday season [13][14] - The report also mentions the stable pricing of various chemical products, including MDI and ammonium phosphate, suggesting a balanced supply-demand dynamic in the market [15][19] Company-Specific Insights - Companies like Zhenhua Co. are expected to benefit from the anticipated increase in demand for chromium salts, with a production capacity of 260,000 tons in 2024 [8] - The report highlights the performance of various companies in the chemical sector, including the stable pricing of products from companies like Yangu Huatai and Huafeng Chemical [16][23] - The report indicates that companies such as Yonghe Co. are projected to see significant profit growth in the upcoming quarters, with an expected net profit increase of over 200% [29]