有分析指出，前三季度"三桶油"（中国石油、中国石化、中国海油）业绩相较海外巨头韧性凸显，体现穿越周期属性，长期 投资价值凸显。另外，煤炭板块具备周期与红利的双重属性，随着旺季临近，下游采购力度逐渐加强，煤炭价格有望迎来新 一轮上行。 能源股，集体异动！ 今日盘中，石油、煤炭板块集体走强，中国海油涨幅一度超过5%，中国石油涨超4%。安泰集团开盘后5分钟内就被资金直 线拉升至涨停板，洲际油气盘中也直线涨停。而临近午盘时分，惠博普也封死了涨停板。 石油股拉升 今年前三季度，中国石油、中国石化、中国海油归母净利润增速同比分别下降4.9%、32.2%、12.6%；第三季度单季，中国 石油、中国石化、中国海油归母净利润分别同比下降3.9%、0.5%、12.2%。光大证券指出，得益于产量持续上升和优异的成 本控制能力，中国石油、中国海油当期业绩水平高于历史油价水平接近时期。2025年三季度，受油价下跌和炼化景气度低迷 影响，国际油气巨头的经营业绩同比下滑，埃克森美孚、雪佛龙、壳牌、道达尔归母净利润分别同比下降14.3%、33.9%、 9.6%、13.4%，中国石油、中国海油前三季度归母净利润跌幅小于多数国际油气巨头，在油价 ...

Group 1 - The oil sector experienced a strong rally on the 3rd, with companies like Huibo and Intercontinental Oil hitting the daily limit, while China National Offshore Oil Corporation (CNOOC) and China Petroleum gained over 4% [1] - By the third quarter of 2025, the oil and gas equivalent production of China Petroleum, Sinopec, and CNOOC is expected to grow by 2.6%, 2.2%, and 6.7% year-on-year, respectively [1] - The "Big Three" oil companies will continue to enhance reserves and production, with planned growth in oil and gas equivalent production of 1.6%, 1.5%, and 5.9% for China Petroleum, Sinopec, and CNOOC by 2025 [1] Group 2 - The refining sector is transitioning towards low-cost "oil conversion" and high-value "oil specialty," with sales divisions actively transforming into comprehensive energy service providers [1] - China Petroleum and Sinopec have accelerated the construction of refining integration projects, with new material projects progressing rapidly, which is expected to strengthen their competitive edge in the refining sector [1] - The "anti-involution" policy is entering a deep governance phase in specific industries, with the petrochemical sector likely to see further implementation, leading to the accelerated clearance of refining capacity below 200,000 tons [1] Group 3 - Everbright Securities maintains a positive long-term outlook on the "Big Three" oil companies and oil service sectors, citing a favorable supply-demand balance for crude oil amid geopolitical uncertainties [2] - The recovery of the macro economy is expected to boost chemical demand, with long-term capacity clearance benefiting leading enterprises in the sector [2] - The profitability of large-scale refining, coal chemical, and ethylene is anticipated to improve in the long run [2]

Group 1: Market Trends - The recent market discussion revolves around the concept of "high-low switching," with leading stocks in computing power experiencing a collective surge last Friday [1] - On the other hand, leading stocks in sectors such as new energy and non-ferrous metals, including CATL and Zijin Mining, saw declines today [1] - Major banks, including Industrial and Commercial Bank of China and Agricultural Bank of China, experienced an increase in stock prices, reflecting a strong performance in high-dividend assets [1] Group 2: Oil and Gas Sector - The oil and gas extraction sector showed significant strength, with major players like PetroChina and CNOOC seeing stock price increases of 4.15% and 4.94% respectively [2] - OPEC+ is expected to pause production increases in the first quarter of next year, as the organization balances market share and signs of oversupply [2] - For the first three quarters, PetroChina reported a net profit of 126.28 billion yuan, Sinopec 29.98 billion yuan, and CNOOC 10.20 billion yuan, with all three companies focusing on increasing reserves and production [2] Group 3: Coal Sector - The coal sector has seen significant gains, with companies like Antai Group and Lu'an Environmental Energy experiencing substantial stock price increases [3] - Coal prices have been recovering since the third quarter, with prices for 5500 kcal thermal coal and coking coal rebounding to 674 yuan/ton and 1555 yuan/ton respectively [3] - The coal industry's long-term support is attributed to the rigid supply and rising costs, with companies maintaining healthy balance sheets and improved dividend ratios [3]

石油股涨幅居前，截至发稿，中国石油（601857）(00857)涨3.62%，报8.31港元；中国海油（600938） (00883)涨3.69%，报20.5港元；上海石化（600688）(00338)涨1.5%，报1.35港元；中国石化（600028） (00386)涨1.45%，报4.19港元。 光大证券发布研报称，2025年三季度，受油价下跌和炼化景气度低迷影响，国际油气巨头的经营业绩同 比下滑，埃克森美孚、雪佛龙、壳牌、道达尔归母净利润分别同比-14.3%、-33.9%、-9.6%、-13.4%， 中国石油、中国海油前三季度归母净利润跌幅小于多数国际油气巨头，在油价下行期的业绩韧性凸 显，"三桶油"在油价下行期的业绩体现出一定的穿越周期属性。此外，"三桶油"继续加强增储上产，长 期价值凸显。 消息面上，周日，OPEC+在线上会议后表示，以沙特为首的八个成员国将在12月提高产量13.7万桶/ 日，这与10月和11月的增产幅度一致。但该组织同时宣布，考虑到季节性因素，将在明年1-3月暂停增 产，意味着OPEC+的增产计划踩下刹车。该消息推升油价，布伦特原油一度升至每桶65美元以上， WTI原油在每桶61美 ...

牛市来了还没上车？上天天基金APP搜索777注册即可领500元券包，优选基金10元起投！限 量发放！先到先得！ A股上市公司三季报披露结束，市场的结构机会如何变化？ "高低切换"成为最近市场热议的话题。上周五，算力龙头股集体大涨。今天上午，新能源、 有色金属等板块的龙头股调整，宁德时代、紫金矿业、先导智能、华友钴业等个股下跌。 今天上午，权重拉升，"大象起舞"。高股息资产走强，银行股全线上涨。其中，工商银行上涨 1.8%，农业银行上涨1.13%，目前总市值均接近3万亿元。煤炭、油气开采、公路铁路运输等板块 上涨，"三桶油"、中国神华等龙头股上涨。 截至上午收盘，上证指数上涨0.05%，深证成指下跌1.06%，创业板指下跌1.37%。 | 上证指数 | 深证成指 | 创业板 | | --- | --- | --- | | 3956.72 | 13237.03 | 3143.95 | | +1.93 +0.05% | -141.18 -1.06% | -43.58 -1.37% | | 跌2594 | | 涨2677 > | | | 11 | | 采掘板块走强 今天上午，采掘板块走强，油气开采、煤炭等板块涨幅居前 ...

A股上市公司三季报披露结束，市场的结构机会如何变化？ "高低切换"成为最近市场热议的话题。上周五，算力龙头股集体大涨。今天上午，新能源、有色金属等板块的龙头股调整，宁德时代、紫金矿业、先导智 能、华友钴业等个股下跌。 今天上午，权重拉升，"大象起舞"。高股息资产走强，银行股全线上涨。其中，工商银行上涨1.8%，农业银行上涨1.13%，目前总市值均接近3万亿元。 煤炭、油气开采、公路铁路运输等板块上涨，"三桶油"、中国神华等龙头股上涨。 截至上午收盘，上证指数上涨0.05%，深证成指下跌1.06%，创业板指下跌1.37%。 光大证券表示，在2023年以来的新一轮油价波动周期中，得益于产量持续上升和优异的成本控制能力，中国石油、中国海油当期业绩水平高于历史油价水 平接近时期，利润同比水平也好于海外石油巨头，"三桶油"在油价下行期的业绩韧性凸显。展望2026年，"三桶油"将继续维持高资本开支，不断加强天然 气市场开拓，加快中下游炼化业务转型，有望实现穿越油价周期的长期成长。 煤炭板块中，安泰集团、潞安环能等个股大涨。 采掘板块走强 今天上午，采掘板块走强，油气开采、煤炭等板块涨幅居前。油气开采板块中，"三桶油"集体 ...

A股上市公司三季报披露结束，市场的结构机会如何变化？ "高低切换"成为最近市场热议的话题。上周五，算力龙头股集体大涨。今天上午，新能源、有色金属等板块的龙头股调整，宁德时代、紫金矿业、先导智 能、华友钴业等个股下跌。 今天上午，权重拉升，"大象起舞"。高股息资产走强，银行股全线上涨。其中，工商银行上涨1.8%，农业银行上涨1.13%，目前总市值均接近3万亿元。 煤炭、油气开采、公路铁路运输等板块上涨，"三桶油"、中国神华等龙头股上涨。 截至上午收盘，上证指数上涨0.05%，深证成指下跌1.06%，创业板指下跌1.37%。 采掘板块走强 今天上午，采掘板块走强，油气开采、煤炭等板块涨幅居前。油气开采板块中，"三桶油"集体上涨，中国石油、中国海油分别上涨4.15%、4.94%，中国 石化上涨1.83%。 光大证券表示，在2023年以来的新一轮油价波动周期中，得益于产量持续上升和优异的成本控制能力，中国石油、中国海油当期业绩水平高于历史油价水 平接近时期，利润同比水平也好于海外石油巨头，"三桶油"在油价下行期的业绩韧性凸显。展望2026年，"三桶油"将继续维持高资本开支，不断加强天然 气市场开拓，加快中下游炼化业务 ...

Market Overview - A-shares experienced mixed fluctuations on November 3, with the Shanghai Composite Index rising by 0.05%, while the Shenzhen Component and ChiNext Index fell by 1.06% and 1.37%, respectively [1][2] - The total market turnover was approximately 1.4 trillion yuan, slightly lower than the previous day, with nearly 2,600 stocks declining [2] Sector Performance - The coal, oil and petrochemical, media, and banking sectors saw gains, while lithium battery, precious metals, and semiconductor sectors faced significant declines [2][3] - The precious metals sector, particularly jewelry stocks, experienced a collective drop, with notable declines in companies like Chaohongji and Pengxin Resources [6][7] Hong Kong Market - The Hong Kong market also showed volatility, with the Hang Seng Index up by 0.58% and the Hang Seng Technology Index down by 0.24% [4][5] - Chow Tai Fook led the decline among Hang Seng constituents, dropping over 7% [5][11] Regulatory News - On November 1, the Ministry of Finance and the State Administration of Taxation announced tax policy changes regarding gold transactions, which may impact market sentiment [11][12] Company-Specific Developments - Qingyue Technology's stock hit the daily limit down of 20% due to an investigation by the China Securities Regulatory Commission for suspected financial misconduct [19][20][23] - The stock of Shikong Technology, which had previously seen a significant rise, also fell to its limit down [23] Energy Sector Activity - The coal and oil sectors were active, with companies like Antai Group and China Oilfield Services seeing substantial gains [14][16] - The recent cold weather has increased seasonal demand for coal, which may support prices in the near term [14]

2025.11.03 文字数：1373，阅读时长大约2分钟 作者 | 一财阿驴 11:31 A股午盘丨沪指翻红涨0.05% 沪指涨0.05%，深成指跌1.06%，创业板指跌1.37%。 盘面上，海南自贸港、煤炭、短剧、光热发电、AI应用题材活跃；锂电池、稀土永磁、半导体、机器 人、消费电子概念股普遍回调。 沪深两市半日成交额1.38万亿，较上个交易日缩量1755亿。全市场近2600只个股下跌。 11:12 油气股盘中震荡拉升，惠博普、洲际油气涨停，中国海油、中国石油涨超4%。消息面上，以沙特 阿拉伯为首的欧佩克+主要成员国在周日的视频会议上达成协议，决定12月日均增产13.7万桶，与10月 和11月计划的增产量持平，随后在明年1月至3月期间暂停增产。 10:38 创业板指日内跌幅超2%，沪指跌0.44%，深证成指跌1.64%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | W | 3937.36 | -17.43 | -0.44% | | 399001 | 深证成指 | M | ...

2025.11. 03 本文字数：1373，阅读时长大约2分钟 作者 | 一财 阿驴 11:31 A股午盘丨沪指翻红涨0.05% 沪指涨0.05%，深成指跌1.06%，创业板指跌1.37%。 盘面上，海南自贸港、煤炭、短剧、光热发电、AI应用题材活跃；锂电池、稀土永磁、半导体、机 器人、消费电子概念股普遍回调。 沪深两市半日成交额1.38万亿，较上个交易日缩量1755亿。全市场近2600只个股下跌。 11:12 油气股盘中震荡拉升，惠博普、洲际油气涨停，中国海油、中国石油涨超4%。消息面上，以 沙特阿拉伯为首的欧佩克+主要成员国在周日的视频会议上达成协议，决定12月日均增产13.7万桶， 与10月和11月计划的增产量持平，随后在明年1月至3月期间暂停增产。 10:38 创业板指日内跌幅超2%，沪指跌0.44%，深证成指跌1.64%。 | 代码 | 名称 | 两日图 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 000001 | 上证指数 | un S | 3937.36 | -17.43 | -0.44% | | 399001 | 深证成指 ...