表决结果：7票同意，0票反对，0票弃权。 具 体 内 容 详 见 公 司 2025 年 11 月 22 日 在 上 海 证 券 交 易 所 网 站 （www.sse.com.cn）披露的《洲际油气股份有限公司关于续聘会计师事务所的公 告》。 二、关于修订《公司章程》的议案 第十四届董事会第五次会议决议 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个别及连带责任。 洲际油气股份有限公司（以下简称"洲际油气"或"公司"）第十四届董事 会第五次会议于 2025 年 11 月 21 日在公司会议室以现场结合通讯表决方式召开， 会议应到董事 7 名，实到董事 7 名。会议的召开符合《公司法》和《公司章程》 的有关规定，会议以记名投票表决的方式审议通过了以下事项： 一、关于续聘会计师事务所的议案 表决结果：7票同意，0票反对，0票弃权。 证券代码：600759 证券简称：洲际油气 公告编号：2025-052 号 洲际油气股份有限公司 洲际油气股份有限公司董事会 2025 年 11 月 21 日 具 体 内 容 详 见 公 司 2025 年 11 ...

Core Viewpoint - The company has announced its first share buyback, acquiring 1.21% of its total shares, with a total expenditure of RMB 121 million [1] Group 1 - The company has initiated a share repurchase program, indicating confidence in its own stock value [1] - The total amount spent on the buyback is RMB 121 million, reflecting a significant investment in its own shares [1] - The percentage of shares repurchased stands at 1.21%, which may influence market perception and investor sentiment [1]

Core Viewpoint - The stock of Intercontinental Oil and Gas has experienced fluctuations, with a recent decline of 2.17% and a year-to-date increase of 19.38%, indicating volatility in investor sentiment and market conditions [1][2]. Company Overview - Intercontinental Oil and Gas, established on August 20, 1984, and listed on October 8, 1996, is primarily engaged in oil exploration and development, as well as petrochemical project investments and related services [2]. - The company's main revenue source is oil and gas sales, accounting for 99.88% of its total revenue, with a minor contribution from services and other activities [2]. Financial Performance - For the period from January to September 2025, Intercontinental Oil and Gas reported a revenue of 1.537 billion yuan, representing a year-on-year decrease of 19.94%, and a net profit attributable to shareholders of 83.0761 million yuan, down 46.61% compared to the previous year [2]. - The company has not distributed any dividends in the last three years, with a total payout of 264 million yuan since its A-share listing [3]. Shareholder Information - As of September 30, 2025, the number of shareholders increased to 117,800, while the average circulating shares per person decreased by 2.12% to 35,172 shares [2]. - Among the top ten circulating shareholders, the Southern CSI 1000 ETF holds 37.9239 million shares, having decreased its holdings by 385,600 shares compared to the previous period [3]. Market Activity - The stock has seen significant trading activity, with a recent turnover of 71.0213 million yuan and a turnover rate of 0.63% [1]. - The stock has appeared on the "Dragon and Tiger List" five times this year, indicating notable trading interest, with the most recent appearance on November 5, where it recorded a net buy of -23.7191 million yuan [1].

Core Points - The oil and gas extraction sector experienced a decline of 0.88% on November 20, with Blue Flame Holdings leading the drop [1] - The Shanghai Composite Index closed at 3931.05, down 0.4%, while the Shenzhen Component Index closed at 12980.82, down 0.76% [1] Sector Performance - The closing prices and performance of key stocks in the oil and gas extraction sector are as follows: - Intercontinental Oil & Gas (600759) closed at 2.77, up 0.73% with a trading volume of 2.8097 million shares [1] - ST Xinchao (600777) closed at 3.93, down 0.76% with a trading volume of 142,900 shares [1] - China National Offshore Oil Corporation (600938) closed at 29.20, down 1.08% with a trading volume of 353,500 shares [1] - Blue Flame Holdings (000968) closed at 7.34, down 1.34% with a trading volume of 107,800 shares [1] Capital Flow - The oil and gas extraction sector saw a net outflow of 69.4067 million yuan from institutional investors, while retail investors contributed a net inflow of 15.6092 million yuan [1] - The detailed capital flow for key stocks is as follows: - Blue Flame Holdings (000968) had a net outflow of 5.0863 million yuan from institutional investors, with a net inflow of 2.8235 million yuan from retail investors [2] - ST Xinchao (600777) experienced a net outflow of 8.9827 million yuan from institutional investors, with a net inflow of 7.0945 million yuan from retail investors [2] - Intercontinental Oil & Gas (600759) had a net outflow of 18.6567 million yuan from institutional investors, with a net inflow of 18.2155 million yuan from retail investors [2] - China National Offshore Oil Corporation (600938) saw a net outflow of 36.6811 million yuan from institutional investors, with a net outflow of 12.5243 million yuan from retail investors [2]

Core Viewpoint - The stock of Continental Oil and Gas (600759) has experienced a decline, with a closing price of 2.89 yuan on November 18, 2025, down 3.02% from the previous day, indicating a negative trend in investor sentiment and market performance [1]. Financial Performance - For the first three quarters of 2025, the company reported a main revenue of 1.537 billion yuan, a year-on-year decrease of 19.94% [3]. - The net profit attributable to shareholders was 83.0761 million yuan, down 46.61% year-on-year [3]. - The third quarter alone saw a main revenue of 481 million yuan, a decline of 18.45% compared to the same period last year [3]. - The net profit for the third quarter was 33.3145 million yuan, down 28.39% year-on-year [3]. - The company’s gross profit margin stood at 56.44%, significantly higher than the industry average of 18.66% [3]. Market Activity - On November 18, 2025, the net outflow of main funds was 57.8243 million yuan, accounting for 5.04% of the total transaction amount [1][2]. - Retail investors showed a net inflow of 30.2953 million yuan, representing 2.64% of the total transaction amount [1][2]. - Over the past five days, the stock has seen fluctuations in fund flows, with notable net inflows and outflows from different investor categories [2]. Company Positioning - The total market capitalization of Continental Oil and Gas is 11.991 billion yuan, significantly lower than the industry average of 212.5 billion yuan [3]. - The company ranks 61st in terms of net profit and 61st in total market value within the oil industry [3]. - The price-to-earnings ratio (P/E) is 108.25, which is considerably higher than the industry average of 37.34, indicating potential overvaluation [3].

Core Insights - The oil and gas extraction sector experienced a slight increase of 0.09% on November 17, with Intercontinental Oil leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Sector Performance - Intercontinental Oil (600759) closed at 2.98, up 4.93%, with a trading volume of 5.8659 million shares and a transaction value of 1.734 billion [1] - Other notable stocks included China National Offshore Oil (600938) down 0.21%, Blue Flame Holdings (000968) down 0.39%, and ST Xinchao (600777) down 0.99% [1] Capital Flow - The oil and gas extraction sector saw a net inflow of 93.0503 million in main funds, while retail investors experienced a net outflow of 98.8204 million [1] - Main fund inflows for Intercontinental Oil were 11.8 million, representing 6.82% of total transactions, while retail investors had a net outflow of 118 million, indicating a negative sentiment [2]

Core Viewpoint - The oil and gas sector is experiencing upward movement in stock prices, driven by geopolitical tensions and supply disruptions, particularly from Russia, which has halted exports equivalent to 2% of global supply [1]. Group 1: Market Performance - As of November 17, 2025, the National Oil and Gas Index (399439) increased by 0.28%, with significant gains in constituent stocks such as Shun Oil (603353) up 9.99% and Victory Shares (000407) up 9.93% [1]. - The Oil and Gas ETF (159697) rose by 0.60%, marking its fourth consecutive increase, with the latest price at 1.18 yuan [1]. Group 2: Supply and Price Dynamics - The geopolitical situation has led to a suspension of exports from Russian Black Sea ports, impacting supply by approximately 2% of global oil production, equating to 2.2 million barrels per day [1]. - According to Huatai Securities, multiple factors including OPEC+ production increases, rising risks of Russian oil sanctions, and an increase in U.S. commercial crude oil inventories have contributed to a downward trend in oil price levels [1]. Group 3: Key Holdings - As of October 31, 2025, the top ten weighted stocks in the National Oil and Gas Index include major companies such as China National Petroleum (601857) and Sinopec (600028), collectively accounting for 65.09% of the index [2]. - The Oil and Gas ETF is closely tracking the National Oil and Gas Index, reflecting the price changes of publicly listed companies in the oil and gas sector [1][2].

Core Insights - The oil and gas extraction sector experienced a rise of 0.63% on November 14, with Intercontinental Oil leading the gains [1] - The Shanghai Composite Index closed at 3990.49, down 0.97%, while the Shenzhen Component Index closed at 13216.03, down 1.93% [1] Sector Performance - Intercontinental Oil (600759) closed at 2.84, up 4.80% with a trading volume of 5.3688 million shares and a transaction value of 15.25 million [1] - Blue Flame Holdings (000968) closed at 7.79, up 1.04% with a trading volume of 186,100 shares and a transaction value of 145 million [1] - ST Xinchao (600777) closed at 4.06, up 0.25% with a trading volume of 137,700 shares and a transaction value of 55.9792 million [1] - China National Offshore Oil Corporation (600938) closed at 29.02, up 0.17% with a trading volume of 339,600 shares and a transaction value of 98.86 million [1] Capital Flow - The oil and gas extraction sector saw a net inflow of 21.1287 million in main funds, with a net inflow of 7.0087 million from speculative funds, while retail investors experienced a net outflow of 28.1375 million [1] - Intercontinental Oil had a main fund net inflow of 50.4791 million, accounting for 3.31% of the total, while retail investors had a net outflow of 51.11 million, representing -3.35% [2] - Blue Flame Holdings had a main fund net inflow of 6.0087 million, with a net outflow of 2.1438 million from speculative funds and a net outflow of 3.8649 million from retail investors [2] - ST Xinchao experienced a main fund net outflow of 460.59 million, while retail investors had a net inflow of 467.35 million [2] - China National Offshore Oil Corporation had a main fund net outflow of 307.531 million, with retail investors experiencing a net inflow of 2.21639 million [2]

Core Insights - The Hainan sector experienced a strong rally on November 14, driven by favorable policies and expectations of the full closure operation of the Hainan Free Trade Port, with stocks like Kangzhi Pharmaceutical and Hainan Haiyao hitting the daily limit [1][3] - The direct catalyst for this rally was the significant impact of the new duty-free shopping policy, which saw a nearly 35% year-on-year increase in shopping amounts and a corresponding rise in the number of shoppers during the first week of implementation [3] - The Hainan Free Trade Port is set to officially launch its full closure operation on December 18, which is expected to enhance foreign openness and benefit industries such as tourism and retail [4] Market Performance - The Hainan sector has shown strong performance throughout the year, with an overall increase of over 40%, and Haima Automobile leading with a remarkable 164% rise [3] - The net profit of listed companies in the Hainan sector grew nearly 25% year-on-year in the first three quarters, with several companies achieving double-digit growth or successfully turning losses into profits [3] Investment Trends - Leveraged funds have already begun to position themselves in the Hainan sector, with net purchases exceeding 4 billion yuan this year, indicating strong market confidence in the future prospects of the sector [4] - Institutions believe that the duty-free policy will continue to support the consumption market in Hainan, while the full closure operation will open new avenues for economic development [4]

Core Insights - The trading activity of industry and thematic ETFs has decreased, with only the Sci-Tech Chip ETF (588200) exceeding a transaction amount of 1 billion yuan, reaching 1.627 billion yuan [1][3] - The Hong Kong Innovative Drug ETF (513120) remains active in cross-border ETFs, with a half-day transaction amount exceeding 5 billion yuan, reaching 6.258 billion yuan [1][4] Industry and Thematic ETFs Summary - The Sci-Tech Chip ETF (588200) had a current price of 2.295 yuan, with a decline of 1.88%, and a total transaction amount of 1.627 billion yuan [3] - Other notable ETFs include: - Battery ETF (159755): 1.127 yuan, -2.51%, 0.891 billion yuan - Semiconductor ETF (512480): 1.416 yuan, -2.14%, 0.834 billion yuan - Securities ETF (512880): 1.241 yuan, -0.56%, 0.818 billion yuan - Communication ETF (515880): 2.567 yuan, -2.25%, 0.692 billion yuan [3] Cross-Border ETFs Summary - The Hong Kong Innovative Drug ETF (513120) had a current price of 1.42 yuan, with an increase of 0.35%, and a total transaction amount of 6.258 billion yuan [4] - Other significant cross-border ETFs include: - Hong Kong Securities ETF (513090): 2.195 yuan, -1.48%, 4.084 billion yuan - Hang Seng Technology ETF (513130): 0.778 yuan, -2.14%, 3.300 billion yuan - Hang Seng Technology Index ETF (513180): 0.793 yuan, -2.1%, 2.542 billion yuan [4] Oil and Gas Resource ETFs Summary - The Oil and Gas Resource ETF (563150) saw a half-day increase of 2.04%, with a current price of 1.1 yuan and a transaction amount of 2.884 million yuan [5][6] - The ETF tracks the China Securities Oil and Gas Resource Index, which includes companies involved in oil and gas extraction, services, equipment manufacturing, refining, processing, transportation, and sales [6][7] - Key stocks in the index include: - China Petroleum (601857): 9.85% weight - Sinopec (600028): 8.45% weight - Jereh Group (002353): 7.53% weight [7]