EE305 Page 2 of 17 v 1.3.0 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: 01 December 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 Th ...

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12月1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 。 | 1). | 為註銷而回購但尚未註銷的股票 | | 5,410,000 | 0.02 % | HKD | 4.09 | | --- | --- | --- | --- | --- | --- | --- | | | 變動日期 | 2025年9月22日 | | | | | | 2). | 為註銷而回購但尚未註銷的股票 | | 5,506,000 | 0.02 % | HKD | 4.08 | | | 變動日期 | 2025年9月23日 | | | | | | 3). | 為註銷而回購但尚未註銷的股票 | | 5,800,000 | ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 600028 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 97,232,263,098 | RMB | | 1 RMB | | 97,232,263,098 | | 增加 / 減少 (-) | | | 0 | | | RMB | | | | 本月底結存 | | | 97,232,263,098 | RMB | | 1 RMB | | 97,232,263,098 | 本月底法定/註冊股本總額： RMB 121,281,555,698 FF301 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國石油化工股份有限公司 呈交日期: 202 ...

Market Overview - The refining and trading sector increased by 1.68% on December 1, with Runbei Hangke leading the gains [1] - The Shanghai Composite Index closed at 3914.01, up 0.65%, while the Shenzhen Component Index closed at 13146.72, up 1.25% [1] Stock Performance - Runbei Hangke (001316) closed at 37.79, up 6.00% with a trading volume of 82,100 shares and a transaction value of 304 million yuan [1] - Hengtong Co. (603223) closed at 10.75, up 4.37% with a trading volume of 110,800 shares [1] - ST Shenhua (000698) closed at 3.85, up 2.39% with a trading volume of 110,900 shares and a transaction value of 42.84 million yuan [1] - Other notable stocks include Baomo Co. (002476) up 2.22%, China Petroleum (601857) up 2.15%, and Taishan Petroleum (000554) up 2.09% [1] Capital Flow - The refining and trading sector experienced a net outflow of 42.96 million yuan from institutional investors, while retail investors saw a net outflow of 128 million yuan [2] - Conversely, speculative funds recorded a net inflow of 171 million yuan [2] Individual Stock Capital Flow - China Petroleum (601857) had a net inflow of 42.51 million yuan from institutional investors, but a net outflow of 38.03 million yuan from retail investors [3] - Baomo Co. (002476) saw a net inflow of 30.59 million yuan from institutional investors, with a net outflow of 28.66 million yuan from retail investors [3] - Hengtong Co. (600346) had a net inflow of 5.48 million yuan from institutional investors and a significant net inflow of 73.40 million yuan from speculative funds [3]

Core Viewpoint - The Enshi Prefecture Market Supervision Administration will conduct a special quality supervision and inspection of products starting from May 2025, focusing on various products including finished oil, cables, fertilizers, and electric blankets, with 60 batches tested, of which 58 passed and 2 failed [2]. Group 1: Inspection Results - A total of 60 batches of products were inspected, with 58 passing and 2 failing the quality standards [2]. - The inspection covered products such as finished oil, cables, fertilizers, and electric blankets [2]. Group 2: Regulatory Actions - The Enshi Prefecture Market Supervision Administration will initiate follow-up investigations and handling procedures for the non-compliant products in accordance with the Product Quality Law of the People's Republic of China and relevant regulations [2].

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Core Insights - The Tianhong Chemical ETF (159133) reached a record high since its listing, with a turnover of 1 billion yuan and a trading volume of 18.37% [1] - The underlying index, the CSI Sub-Industry Chemical Theme Index (000813), increased by 0.82%, with notable gains from several constituent stocks [1] Group 1: Product Highlights - The Tianhong Chemical ETF tracks the CSI Sub-Industry Chemical Theme Index, which includes listed companies involved in the manufacturing and sales of chemical products such as pesticides and fertilizers, reflecting the overall performance of quality enterprises in the chemical industry [2] Group 2: Key Events - A significant agreement was reached on November 23, 2023, for the 2026 China potash fertilizer import contract, setting the price at 348 USD/ton (CFR), maintaining a competitive pricing position globally [2] - On November 26, 2023, BASF and a subsidiary of Sinopec signed a strategic cooperation agreement to promote the large-scale application of biogas, accelerating the low-carbon transition in the chemical industry [3] Group 3: Institutional Perspectives - According to Dongguan Securities, from January to October 2023, the total profit of large-scale industrial enterprises in China reached 59,502.9 billion yuan, reflecting a year-on-year growth of 1.9% [3] - The refrigerant sector is expected to see improved supply-demand dynamics due to the implementation of production quota management for third-generation (HFCs) refrigerants starting in 2024, leading to an overall upward trend in refrigerant prices before 2025 [3]

1. Report Industry Investment Rating - The investment rating for the butadiene rubber industry is neutral [3] 2. Core Viewpoints of the Report - The butadiene production has declined, and the output of cis - butadiene rubber is gradually recovering. The cost - side support is insufficient, the mainstream supply price of cis - butadiene rubber has been significantly reduced, the synthetic processing profit is still good, and the futures price is oscillating [3] 3. Summary by Relevant Catalog 3.1 Market Review - As of November 27, 2025, the ex - factory price of Sinopec's BR9000 was 10,400 yuan/ton, and that of PetroChina's sales companies was between 10,400 - 10,500 yuan/ton. The butadiene market fluctuated narrowly, lacking cost - side support. The production profit of cis - butadiene rubber remained good. The domestic production of cis - butadiene rubber slightly decreased, but the supply of private resources was abundant. The downstream continued to push down prices, and the transaction prices of private resources in North China were suppressed near 10,000 yuan. The supply prices of Sinopec and PetroChina's cis - butadiene rubber were reduced, and high - price quotations gradually declined, with mostly small orders for rigid demand [6] 3.2 Supply - **Butadiene**: Last week, the domestic butadiene production was [data unclear] tons, with a capacity utilization rate of [data unclear]%. During the week, some plants such as Nanjing Chengzhi, Sierbang, Yanshan Petrochemical, and Guangzhou Petrochemical remained shut down, and some plants of Shanghai Petrochemical, Maoming Petrochemical, and Sinochem Quanzhou were shut down for maintenance. Meanwhile, Shenghong Refining & Chemical reduced its load, resulting in a decline in production [3] - **Cis - butadiene rubber**: The Maoming Petrochemical cis - butadiene rubber plant was under regular maintenance, and the cis - butadiene rubber plants of Zhenhua New Materials and Zhejiang Petrochemical were expected to gradually resume production after restarting [3] 3.3 Demand - **Semi - steel tires**: The sales of semi - steel winter tires were average, with sufficient social inventory. Due to less snowfall, demand did not increase significantly, channel inventory digestion was slow, and the replenishment willingness was low. For all - season tires, the overall transaction remained dull, with weak and stable market demand. At the end of the month, agents had some replenishment needs [3] - **All - steel tires**: The market transactions became weaker, affected by the off - season and shortage of working capital. However, due to the pressure of purchase tasks at the end of the month, agents still replenished goods, and also pushed goods to channels to relieve their own inventory pressure. The overall market transaction price decreased steadily, with self - promotion and negotiation room [3] 3.4 Inventory - **Butadiene**: Last week, the port inventory of butadiene was 47,300 tons, a [data unclear]% increase from the previous week. Some plants were under maintenance and reduced load during the week, so the enterprise inventory did not increase significantly. Recently, ship cargoes continued to arrive at the port, and some trade volumes were transferred slowly. The port inventory may remain under pressure in the short term [3] - **Cis - butadiene rubber**: The inventory of high - cis cis - butadiene rubber enterprises and traders was 32,440 tons, a [data unclear]% increase from the previous week. The supply of private resources was sufficient, the downstream was determined to push down prices, the negotiation focus of spot goods continued to be under pressure, and the inventories of production enterprises and trading enterprises both increased [3] 3.5 Basis - The basis of cis - butadiene rubber in North China was - 415 yuan/ton, in East China was - 265 yuan/ton, and in South China was - 215 yuan/ton [3] 3.6 Spread/Price Ratio - The spread between RU - BR was 4,995 yuan/ton ([data unclear]%), the spread between NR - BR was 1,860 yuan/ton ([data unclear]), and the price ratio of BR - SC was - 0.15% [3] 3.7 Profit - The production gross profit of butadiene by oxidative dehydrogenation of butene was - 1,814 yuan/ton, and that by C4 extraction was 587 yuan/ton. The production gross profit of cis - butadiene rubber was 152.08 yuan/ton, with a gross profit margin of 5.98% [3] 3.8 Geopolitical and Macroeconomic Factors - The US non - farm payrolls in September increased by 119,000, far exceeding the market expectation of 50,000, but the unemployment rate rose to 4.4%. The US Department of Labor revised down the non - farm payroll data for July and August. The market was optimistic about the upcoming Russia - Ukraine peace agreement, which dominated the recent oil price trend. The geopolitical situation between the US and Venezuela was tense, and the US military might take land actions. Sino - Japanese relations deteriorated due to the Japanese Prime Minister's remarks on the Taiwan issue, and China took corresponding counter - measures. The floods in Thailand were positive for the rubber price sentiment, but due to high supply and inventory, the increase in the futures price was small [3] 3.9 Investment and Trading Strategies - **Investment view**: Neutral [3] - **Trading strategy**: For unilateral trading, there is no recommendation. For arbitrage, pay attention to going long on BR and shorting NR/RU. Risks to focus on include downstream demand, cost changes, plant maintenance, and geopolitical situations [3]

Group 1 - The core viewpoint of the articles highlights Sinopec Fujian Longyan Petroleum's efforts to reduce costs and expenses through budget control, detail optimization, and performance incentives in a challenging operating environment [1][2] Group 2 - From January to October, the company's commodity circulation expenses decreased by 4% year-on-year [1] - A special task force for cost reduction and efficiency improvement was established to coordinate and implement cost-cutting plans, with clear responsibilities assigned to various departments [1] - A dynamic monitoring mechanism for budget execution was implemented, utilizing a "Budget Execution Warning Table" to strictly control unbudgeted and overspending [1] Group 3 - The company analyzed sales, personnel, and customer changes over the past three years to redefine standard expense quotas, leading to an 11.98% decrease in travel expenses [1] - The principle of "centralized procurement and reasonable reporting" was adopted, resulting in a 25.36% reduction in public expenditure through strict adherence to public expense standards [1] Group 4 - The company revised its expense management and assessment methods, linking cost reduction targets to monthly and quarterly evaluations, directly affecting the performance of department heads and area managers [2] - A culture of cost-saving was promoted through various communication channels, fostering a collective effort towards cost reduction and efficiency improvement [2]

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268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。 中石化（上海）石油化工研究院有限公司，成立于2022年，位于上海市，是一家以从事研究和试验发展 为主的企业。企业注册资本49800万人民币。通过天眼查大数据分析，中石化（上海）石油化工研究院 有限公司共对外投资了2家企业，参与招投标项目2248次，专利信息807条，此外企业还拥有行政许可 133个。 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（上海）石油化工研究院有限公司申请 一项名为"一种低碳烷烃临氢异构催化剂及其制备方法和应用"的专利，公开号CN121016835A，申请日 期为2024年5月。 专利摘要显示，本发明公开了一种低碳烷烃临氢异构催 ...