来源：金融界 天眼查资料显示，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263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40个。 中石化安全工程研究院有限公司，成立于2021年，位于青岛市，是一家以从事研究和试验发展为主的企 业。企业注册资本49900万人民币。通过天眼查大数据分析，中石化安全工程研究院有限公司共对外投 资了4家企业，参与招投标项目1374次，财产线索方面有商标信息15条，专利信息1821条，此外企业还 拥有行政许可15个。 金融界2025年8月1日消息，国家知识产权局信息显示，中国石油化工股份有限公司、中石化安全工程研 究院有限公司取得一项名为"高支化聚脲材料及其制备方法和应用"的专利，授权公告号 CN115873197B，申请日期为2021年09月。 ...

格隆汇8月1日｜中国石化(600028.SH)跌近5%，报5.71元，总市值6923亿元。中国石化公告，按中国企业会计准则，预计公司2025年上半年实现归属于母公 司股东的净利润为人民币201亿元至人民币216亿元，与上年同期相比，将下降39.5%至43.7%。预计公司2025年上半年实现归属于母公司股东的扣除非经常 性损益后的净利润为人民币200亿元至人民币215亿元，与上年同期相比，将下降39.6%至43.8%。(格隆汇) ...

Group 1 - The core viewpoint of the news is that Sinopec has obtained a patent for a method and device for characterizing the pore size distribution of solid materials, which may enhance its research capabilities in the petrochemical sector [1] Group 2 - Sinopec, established in 2000, is primarily engaged in oil and gas extraction, with a registered capital of approximately 12.17 billion RMB [1] - Sinopec has invested in 263 companies and participated in 5,000 bidding projects, holding 45 trademark records and 5,000 patent records [1] - Sinopec (Dalian) Petrochemical Research Institute, founded in 2022, focuses on research and experimental development, with a registered capital of approximately 338.46 million RMB [1] - The Dalian Research Institute has invested in 1 company, participated in 1,172 bidding projects, and holds 4,658 patent records [1]

中石化（大连）石油化工研究院有限公司，成立于2022年，位于大连市，是一家以从事研究和试验发展 为主的企业。企业注册资本338459.08万人民币。通过天眼查大数据分析，中石化（大连）石油化工研 究院有限公司共对外投资了1家企业，参与招投标项目1172次，专利信息4658条，此外企业还拥有行政 许可58个。 来源：金融界 金融界2025年8月1日消息，国家知识产权局信息显示，中国石油化工股份有限公司;中石化（大连）石 油化工研究院有限公司取得一项名为"一种高辛烷值汽油的制备方法"的专利，授权公告号 CN116023985B，申请日期为2021年10月。 天眼查资料显示，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263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40个。 ...

Core Viewpoint - The company anticipates a significant decline in net profit for the first half of 2025, with projections indicating a drop of 39.5% to 43.7% year-on-year, primarily due to falling oil prices and low refining margins [1][2]. Group 1: Financial Performance - For 2025H1, the expected net profit attributable to shareholders is between 20.1 billion to 21.6 billion yuan, with Q2 alone projected to be between 6.8 billion to 8.3 billion yuan, reflecting a year-on-year decline of 52.1% to 60.7% [1][2]. - The average price of Brent crude oil in Q2 is expected to be $66.71 per barrel, down 21.5% year-on-year and 11.0% quarter-on-quarter, contributing to the pressure on profits [2]. Group 2: Operational Insights - The company has increased its oil and gas equivalent production by 2.0% year-on-year in 2025H1, with domestic crude oil production at 126.73 million barrels (up 0.2% year-on-year) and natural gas production at 20.9 billion cubic meters (up 5.1% year-on-year) [2][3]. - In refining, the company processed 111.97 million tons of crude oil in 2025H1, a decrease of 5.3% year-on-year, with gasoline and diesel production down 4.8% and 17.2% respectively [3]. Group 3: Strategic Initiatives - The company is focusing on optimizing its production and operational efficiency, aiming to enhance its competitive edge through reforms and structural adjustments during the 14th Five-Year Plan period [4]. - Capital expenditure for upstream operations in 2025 is planned at 76.7 billion yuan, with a target of 1.3% growth in oil and gas equivalent production [4]. Group 4: Future Outlook - The company is committed to long-term strategies, including investments in new energy and materials, with expected net profits for 2025-2027 revised to 45.3 billion, 55.5 billion, and 66.2 billion yuan respectively [5]. - The company maintains a "buy" rating for its A-shares and H-shares, anticipating improved performance as chemical market conditions stabilize and new capacities come online [5][6].

Investment Rating - The report maintains a "Buy" rating for both A-shares and H-shares of Sinopec, with current prices at 6.01 CNY and 4.60 HKD respectively [1]. Core Views - The company is expected to face performance pressure in Q2 2025 due to a significant decline in oil prices and low refining margins, with a projected net profit drop of 39.5%-43.7% year-on-year [4][5]. - Despite short-term challenges, the report is optimistic about the company's long-term competitiveness driven by transformation and upgrades in its operations [8][9]. Summary by Sections Performance Outlook - For H1 2025, Sinopec anticipates a net profit of 201-216 billion CNY, with Q2 alone expected to yield 68-83 billion CNY, reflecting a year-on-year decline of 52.1%-60.7% [4][10]. Business Analysis - The company is enhancing its upstream operations with a 2.0% increase in oil and gas equivalent production, while domestic crude oil production remains stable at 126.73 million barrels [6]. - In refining, Sinopec is focusing on optimizing its industrial chain, with a 5.3% decrease in crude oil processing to 111.97 million tons and a notable drop in diesel production by 17.2% [6][7]. Strategic Initiatives - Sinopec is committed to deepening reforms and driving industrial transformation, with a capital expenditure plan of 767 billion CNY for upstream activities in 2025 [8]. - The company aims to enhance its integrated energy services, expanding its charging and hydrogen refueling stations to 10,285 and 142 respectively by the end of 2024 [9]. Financial Projections - The report revises the profit forecasts for 2025-2027, projecting net profits of 453 billion CNY (down 15.4%), 555 billion CNY (down 3.1%), and 662 billion CNY (down 7.6%) respectively, with corresponding EPS of 0.37, 0.46, and 0.55 CNY [10][11].

金融界2025年8月1日消息，国家知识产权局信息显示，中国石油化工股份有限公司;中石化（大连）石 油化工研究院有限公司取得一项名为"一种煤焦油加氢催化剂及其制备方法"的专利，授权公告号 CN118185658B，申请日期为2022年12月。 中石化（大连）石油化工研究院有限公司，成立于2022年，位于大连市，是一家以从事研究和试验发展 为主的企业。企业注册资本338459.08万人民币。通过天眼查大数据分析，中石化（大连）石油化工研 究院有限公司共对外投资了1家企业，参与招投标项目1172次，专利信息4658条，此外企业还拥有行政 许可58个。 来源：金融界 天眼查资料显示，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263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40个。 ...

Focus Events - Zhuhai Tainuo Maibo Pharmaceutical Co., Ltd. has become the first company to have its IPO application accepted under the reactivated fifth listing standard of the Sci-Tech Innovation Board, focusing on innovative biopharmaceuticals for blood product alternatives [1] - Joy City Property plans to repurchase shares at HKD 0.62 per share, with a total amount of approximately HKD 29.32 billion, and will apply for the cancellation of its listing status on the Hong Kong Stock Exchange [3] - Microsoft has surpassed a market capitalization of USD 4 trillion, becoming the second company globally to achieve this milestone [3] Macro News - The National Development and Reform Commission emphasizes the need to deepen the construction of a unified national market and eliminate "involution" competition [8] - The Ministry of Commerce states that China and the U.S. will continue to promote the extension of previously suspended tariffs and countermeasures for 90 days, aiming to stabilize economic relations [10] Industry Dynamics - The domestic gaming market in China achieved a sales revenue of RMB 168 billion in the first half of 2025, marking a year-on-year growth of 14.08% and setting a historical record [10] - The National Medical Insurance Administration supports high-level innovative drugs by establishing a price stability period to ensure reasonable returns during the initial market phase [10] Company Focus - Sanhui Electric has signed a framework sales contract for robot products with Zibo Blue Ribbon Health Management Co., Ltd., with a commitment to sell at least 50 units in 2025 and 450 units by 2027 [12] - Henan Shuanghui Investment Development Co., Ltd. has signed a cooperation agreement with Henan Huirun Food Co., Ltd., expecting an annual output value of RMB 1.7 billion from the project [12] - Wukuang Securities has appointed Zheng Yu as the new chairman, who will also serve as the general manager, consolidating leadership roles [13] - Sinopec expects a net profit of RMB 20.1 billion to RMB 21.6 billion for the first half of 2025, impacted by falling international oil prices and competitive market conditions [14] - Shanying International plans to establish a partnership enterprise with a capital contribution of RMB 2.977 billion, aiming to attract long-term investors [15] - Shima Holdings intends to acquire a 10.27% stake in Nylon Chemical for RMB 952 million, increasing its ownership from 61.79% to 72.06% [18] - Ju Yi Technology has successfully won a bid for the Xiaopeng Huitian flying car factory project, applying innovative technologies for production [20]

-0.02(-0.35%) +0.09(+0.80%) +0.03(+0.37%) 光大银行 2392.96亿市值 3.88亿成交额 4.05 0.00(0.00%) 得經 中国太保 中国平安 中国人保 0 3626.37亿市值 10660.27亿市值 3615.32亿市值 4.24亿成交额 13.91亿成交额 3.56亿成交额 58.54 37.58 8.20 +0.12(+0.32%) -0.15(-0.26%) +0.02(+0.24%) 酿酒行业 贵州茅台 山西汾酒 五粮液 17807.86亿市值 2176.17亿市值 4692.86亿市值 25.26亿成交额 8.45亿成交额 5.58亿成交额 1417.60 178.38 120.90 -0.62(-0.35%) -4.07(-0.29%) -0.25(-0.21%) 半导体 北方华创 寒武纪-U 海光信息 HYGON 2381.29亿市值 2907.41亿市值 3220.14亿市值 12.26亿成交额 30.95亿成交额 21.51亿成交额 138.54 330.00 694.97 -5.20(-1.55%) -14.53(-2.05%) -0. ...

7月31日，记者从中国石化新闻办获悉，由中国石化勘探分公司、江汉油田提交的复兴油田首期石油2010.06 万吨、天然气123.52亿立方米探明地质储量顺利通过自然资源部评审，标志着我国四川盆地首个页岩层系油田诞 生，这也是重庆市第一个油田，实现了我国西南地区页岩油"从无到有"的战略性突破，开辟了四川盆地页岩油气 勘探新领域和增储新阵地，对我国西南地区页岩油勘探开发具有重大战略意义。 中国石化复兴油田钻井现场 复兴油田位于重庆市境内，处于四川盆地东南缘。四川盆地总体具有"富气少油"特征，长期以来以天然气勘 探开发为主，而石油资源相对匮乏。2012年涪陵页岩气田发现后，中国石化联合高校、科研院所和国家重点实验 室平台，系统开展四川盆地页岩油气地质理论研究和关键技术攻关，最终2021年在复兴地区成功钻探泰页1井， 试获日产油58.9立方米、日产气7.35万立方米，取得四川盆地陆相页岩油气勘探的重大突破。 泰页1井突破后，中国石化勘探开发团队紧密结合、一体化推进，相继新部署了多口评价井和试验井组，不断 迭代深化勘探评价认识和工程工艺技术，大幅度提升了优质页岩地震预测精度，突破了陆相页岩体积压裂技术瓶 颈，完试的探井成 ...