Core Points - Shanghai Petrochemical (600688) announced the appointment of Lu Zhiyong as the new general manager after a qualification review by the board of directors' nomination committee [1] Company Summary - The board of directors of Shanghai Petrochemical has appointed Lu Zhiyong as the general manager [1]

鹿志勇先生的简历如下： 鹿志勇，1978年5月出生，现任本公司党委副书记。鹿志勇先生 于2001年加入中国石化镇海炼化公司（"镇海炼化"），历任炼油一部 副总工程师、总工程师、安全总监，发展计划处副处长、发展科技处 副处长，炼油老区结构调整提质升级项目、镇海基地项目管理部设计 管理部主任，炼油一部党总支书记、经理，安全环保部经理等职。2022 年5月至8月任镇海炼化安全总监兼安全环保部经理，2022年8月起任 镇海炼化副总经理、党委委员兼安全总监，2023年5月起兼任镇海基 地项目管理部副总经理。鹿志勇先生长期从事生产运行、安全环保、 项目建设和技术管理工作，牵头组织镇海基地二期项目生产准备和开 工投产，高效组织装置一体化运行，助力镇海炼化连续获评"能效领 跑者标杆企业"。鹿志勇先生2001年毕业于南京工业大学化工工艺专 业，取得工学学士学位。具有高级工程师职称。 证券代码：600688 证券简称：上海石化 公告编号：临 2025-49 中国石化上海石油化工股份有限公司 关于聘任总经理及提名非独立董事的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、 ...

特此公告。 证券代码：600688 证券简称：上海石化 公告编号：临 2025-48 中国石化上海石油化工股份有限公司 第十一届董事会第二十一次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏， 并对其内容的真实性、准确性和完整性承担法律责任。 一、董事会会议召开情况 决议一 以 10 票同意、0 票反对、0 票弃权审议通过《关于聘任 鹿志勇担任公司总经理的议案》。 中国石化上海石油化工股份有限公司（"本公司"或"公司"） 第十一届董事会（"董事会"）第二十一次会议（"会议"）于 2025 年 11 月 11 日以通讯方式召开，会议通知已按规定提前以书面方式 送达予各位董事。应到董事 10 位，实到董事 10 位。本公司监事会 成员和高级管理人员列席了会议。会议的召开符合《中华人民共和 国公司法》及《中国石化上海石油化工股份有限公司章程》的相关 规定。会议由董事长郭晓军先生主持，董事会讨论并通过了两项决 议。 决议二 以 10 票同意、0 票反对、0 票弃权审议通过《关于提名 鹿志勇为本公司第十一届董事会非独立董事候选人的议案》。 二、董事会会议审议情况 该议案需提 ...

Core Viewpoint - The carbon fiber industry is undergoing a structural adjustment after two years of supply-demand imbalance and price decline, with new growth drivers emerging from applications in wind power and aerospace sectors [5][7]. Industry Overview - The carbon fiber industry is experiencing a critical period of structural adjustment, with a focus on high-strength and high-modulus carbon fiber production [5]. - Demand for carbon fiber in wind turbine blades and aerospace applications is increasing, providing new growth momentum for the industry [5]. - The industry must avoid excessive expansion of low-end capacity and focus on high-performance carbon fiber to ensure sustainable development [5]. Market Dynamics - In 2024, China's carbon fiber production capacity is expected to reach 135,500 tons, with an additional capacity of 15,300 tons [7]. - The average price of carbon fiber in 2024 is projected to be 90.1 yuan per kilogram, with a year-on-year increase of 12.73% [7]. - The demand for carbon fiber in the wind power sector is expected to rise, accounting for 37.96% of the market [7]. Company Performance - Key companies in the carbon fiber sector, such as Zhongfu Shenying and Jilin Chemical Fiber, have shown varied performance, with some experiencing significant declines in revenue and profit [6]. - Jilin Chemical Fiber reported a revenue increase of 32.39% but a net profit decline of 60.59% [6]. - Zhongfu Shenying's revenue decreased by 31.07%, while its net profit was negative [6]. Strategic Developments - Several new projects and expansions are underway, including Shanghai Petrochemical's new carbon fiber production line and Jilin Guoxing's 6,000-ton carbon fiber project [10]. - Strategic partnerships and collaborations are being formed, such as the cooperation between Yongcheng New Materials and Zhejiang Aircraft Composite Materials Innovation Center [10]. Future Outlook - The carbon fiber demand is projected to grow significantly, with estimates of 26,400 tons in 2024 and 80,000 tons by 2025 [7]. - The low-altitude economy is expected to reach a market size of 1.5 trillion yuan by 2025, further driving demand for carbon fiber applications [7]. - The industry is poised for a new phase of high-quality growth, focusing on innovation and application expansion [12].

Core Viewpoint - The Carbon Fiber High-end Equipment Manufacturing Conference aims to break the "involution" pattern in the domestic carbon fiber industry through innovative applications, focusing on market status, industrial layout, and technological iteration in carbon fiber, particularly in aerospace, automotive, and green energy sectors [7][34]. Group 1: Conference Overview - The conference will feature confirmed speakers from companies such as Shanghai Petrochemical, Dingli Technology, and Changsheng Technology, discussing the current development and application technologies of carbon fiber and its composites [7]. - The event is scheduled for December 9-11, with a detailed agenda covering various topics related to carbon fiber technology and applications [9][10]. Group 2: Registration and Participation - Free registration is available for companies involved in sectors like brake discs, new energy vehicles, eVTOL, photovoltaics, wind power, hydrogen storage bottles, electronics, sports equipment, batteries, and humanoid robots, with a limit of two participants per unit [4][8]. - The registration fee is set at ¥1200 for corporate or research representatives and ¥800 for students, with different rates for on-site payments [12]. Group 3: Previous Conference Highlights - The previous Carbontech 2024 conference attracted over 500 companies, nearly 150 reports, and more than 2000 attendees, showcasing advancements in carbon materials technology and industry development [25][26].

Core Insights - Recent evaluations of information disclosure by the Shanghai, Shenzhen, and Beijing stock exchanges have been released, highlighting the performance of listed companies in this regard [1] Group 1: Evaluation Results - A total of 89 listed companies in the Shanghai jurisdiction received an 'A' rating for their information disclosure, including 44 from the Shanghai main board, 4 from the Shenzhen main board, 12 from the ChiNext board, 25 from the Sci-Tech Innovation board, and 4 from the Beijing Stock Exchange [1] - Among these, 44 companies have achieved an 'A' rating for three consecutive years, while 17 companies have maintained this rating for five consecutive years [1] - Shanghai Petrochemical (600688) received an 'A' rating in the 2024-2025 information disclosure evaluation by the Shanghai Stock Exchange [1]

Core Viewpoint - Shanghai Petrochemical has established a refined, transparent, and standardized waste material disposal system to maximize the value of waste materials, achieving significant financial results by the end of September [1] Group 1: Waste Material Disposal Achievements - As of September, the company completed 181 waste material disposal transactions, generating a profit of 30 million yuan [1] - The total amount of waste materials disposed of reached 3,562.52 tons, with a recovery amount of 989.73 thousand yuan [1] - The company disposed of 2,926 units of waste equipment, recovering 22.25 million yuan [1] Group 2: Innovative Mechanisms and Compliance - Shanghai Petrochemical implemented a "two-stage public bidding" mechanism to ensure the legality and transparency of waste material disposal [1] - The company conducts strict qualification reviews for recycling vendors, allowing only qualified vendors to participate in the bidding process [1] - A regular supervision mechanism is in place, including unannounced inspections of recycling vendor sites and monthly tracking of the final flow of disposed materials [1] Group 3: Financial Impact and Efficiency - The implementation of the public bidding mechanism resulted in an additional profit of 286.86 thousand yuan this year [1] - Overall efficiency improvements amounted to 8.1578 million yuan [1]

Core Viewpoint - Shanghai Petrochemical Company (00338.HK) experienced a decline of nearly 3%, with a current drop of 2.22%, trading at 1.32 HKD, and a transaction volume of 9.83 million HKD [2] Company Summary - The stock price of Shanghai Petrochemical Company is currently at 1.32 HKD, reflecting a decrease of 2.22% [2] - The trading volume for the company reached 9.83 million HKD [2]

Core Viewpoint - Shanghai Petrochemical Company reported a significant decline in revenue and a net loss for the first three quarters of 2025, primarily due to decreased sales of petroleum products [1] Financial Performance - The company achieved an operating revenue of 58.886 billion yuan, a year-on-year decrease of 10.77% [1] - The net loss attributable to shareholders was 432 million yuan, with a basic loss per share of 0.041 yuan [1] - Revenue for the first nine months of 2025 decreased by 11% compared to the previous year, resulting in a net loss of 432 million yuan [1] Quarterly Analysis - In the third quarter, the company recorded a net profit of 31 million yuan, marking a return to profitability on a quarterly basis due to a reduction in asset impairment losses [1] - Despite the quarterly profit, overall performance did not meet expectations due to weaker-than-expected sales of refined oil and a still weak fundamental outlook for olefins [1] Industry Outlook - UBS noted that the long-term fundamentals of the refining and chemical industry may improve as the "anti-involution" initiative progresses [1]

Core Viewpoint - Shanghai Petrochemical Company reported a significant decline in revenue and incurred a net loss for the first three quarters of 2025, primarily due to decreased sales of petroleum products [1] Financial Performance - The company achieved a revenue of 58.886 billion yuan, representing a year-on-year decrease of 10.77% [1] - The net loss attributable to shareholders was 432 million yuan, with a basic loss per share of 0.041 yuan [1] - For the first nine months of 2025, revenue decreased by 11% compared to the previous year, resulting in a net loss of 432 million yuan [1] Quarterly Analysis - In the third quarter, the company recorded a net profit of 31 million yuan, marking a recovery from previous losses due to a reduction in asset impairment losses [1] - Despite the quarterly profit, overall performance did not meet expectations due to weaker-than-expected sales of refined oil and a still-weak fundamental outlook for olefins [1] Industry Outlook - UBS noted that the long-term fundamentals of the refining and chemical industry may improve as the "anti-involution" trend progresses [1]