证券之星消息，10月31日油服工程板块较上一交易日下跌0.68%，仁智股份领跌。当日上证指数报收于 3954.79，下跌0.81%。深证成指报收于13378.21，下跌1.14%。油服工程板块个股涨跌见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603619 | 中曼石油 | 2495.57万 | 3.75% | -4344.57万 | -6.54% | 1849.00万 | 2.78% | | 600339 | 中油工程 | 1487.44万 | 7.27% | 1063.54万 | 5.20% | -2550.98万 | -12.48% | | 600968 海油发展 | | 1067.78万 | 6.32% | -460.96万 | -2.73% | -606.82万 | -3.59% | | 002207 | 准油股份 | 942.76万 | 7.22% | -799.97万 | -6.13% ...

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。 油服方面，国内高额上游资本开支投入将有力保障上游产储量的增长，使得油服企业充分受益，叠加海 外业务逐渐进入业绩释放期，主要油服企业经营质量明显上升，在油价下跌的同时业绩逆势上行。看好 中海油下属油服企业经营质量的持续改善，国际竞争力有望进一步提升。此外，"三桶油"积极响应"一 带一路"倡议，海外业务布局逐步深化，下属工程公司借助母公司平台优势，把握出海新机遇，有望取 得海外业务发展的持续突破和盈利能力的持续提升。 静待"炼化-化纤"产业链景气复苏，行业格局有望持续优化 智通财经APP获悉，光大证券发布研报称，化工行业自21年景气高点以来，近几年资本开支维持高增 速，供给大幅增长，叠加需求端复苏相对较弱，行业面临高成本弱供需的格局，行业步入周期下行。然 而在行业周期底部，化工 ...

海油发展成立于2005年2月22日，于2019年6月26日在上海证券交易所上市，注册地和办公地均为北京市。 它是国内领先的能源技术服务提供商，具备全产业链服务能力。 海油发展主营业务包括提供能源技术服务、FPSO生产技术服务、能源物流服务、安全环保与节能产品及 服务，所属申万行业为石油石化 - 油服工程 - 油田服务，涉及天然气、低价、国资改革、核聚变、超导概 念、核电等概念板块。 经营业绩：营收行业第三，净利润第二 海油发展总经理周天育，中国国籍，1974年出生，拥有西南石油大学石油与天然气工程专业工学硕士学 位。他有着丰富的行业履历，曾在中海油多家分公司任职。其薪酬从2023年的22.27万增加至2024年的 124.45万，增加了102.18万元。 A股股东户数较上期增加10.86% 截至2025年9月30日，海油发展A股股东户数为7.4万，较上期增加10.86%；户均持有流通A股数量为13.74 万，较上期减少9.79%。十大流通股东中，香港中央结算有限公司位居第二大流通股东，持股1.00亿股，相 比上期减少5926.72万股；南方中证500ETF（510500）位居第五大流通股东，持股2943.20 ...

丨证券研究报告丨 [Table_scodeMsg1] 公司研究丨点评报告丨海油发展（600968.SH） 报告要点 [Table_Title] 业绩受非经损益影响，Q3 毛利率创历史新高 %% %% %% %% research.95579.com 1 [Table_scodeMsg2] 海油发展（600968.SH） cjzqdt11111 [Table_Title2] 业绩受非经损益影响，Q3 毛利率创历史新高 [Table_Summary2] 事件描述 分析师及联系人 [Table_Author] 魏凯 王岭峰 SAC：S0490520080009 SAC：S0490521080001 SFC：BUT964 SFC：BWF918 [Table_Summary] 公司发布 2025 年三季报，前三季度实现营收 339.47 亿元，同比提升 0.81%，实现归母净利 润 28.53 亿元，同比提升 6.11%，扣非归母净利润 28.60 亿元，同比提升 14.54%；单三季度， 公司实现营收 113.50 亿元，同比减少 5.75%，实现归母净利润 10.23 亿元，同比减少 4.51%， 扣非归母净利润达 ...

Core Insights - Pension funds have increasingly invested in the secondary market, appearing in the top ten shareholders of 146 stocks by the end of Q3, with 54 new entries and 27 increased holdings [1][2] - The total shareholding of pension accounts reached 1.282 billion shares, with a total market value of 30.927 billion yuan [1] - The most significant holdings include Tongling Nonferrous Metals and CNOOC Development, with respective holdings of 69.1589 million shares and 65.3843 million shares [1][2] Summary by Category Shareholding Details - Pension accounts are the third-largest shareholder in Blue Sky Technology, holding 20.781 million shares, which is 6.78% of the circulating shares [1] - The highest shareholding by pension accounts is in Tongling Nonferrous Metals, with 69.1589 million shares, followed by CNOOC Development with 65.3843 million shares [1][2] Performance and Trends - Among the stocks held by pension accounts, 94 companies reported net profit growth in their Q3 reports, with the highest growth seen in Rongzhi Rixin, which achieved a net profit of 26.8952 million yuan, a year-on-year increase of 889.54% [2] - The longest-held stock by pension accounts is Yinlun Co., which has appeared in the top ten shareholders for 32 consecutive reporting periods, currently holding 14.1227 million shares, a decrease of 36.45% from the previous quarter [2] Sector Distribution - Pension accounts predominantly invest in the main board with 95 stocks, followed by 18 in the Sci-Tech Innovation Board and 33 in the Growth Enterprise Market [2] - The primary sectors for pension fund investments are machinery and medical biology, with 23 and 14 stocks respectively [2]

光大证券研报认为，当前全球勘探开发活动仍保持活跃。国内方面，增储上产政策保障油服行业景气 度。"三桶油"资本开支整体维持高位，高额资本开支投入将有力保证上游产储量的增长，同时使得下属 油服企业充分受益。 "尽管当前油价震荡下行，但对主要油气企业而言，当前价位仍能维持盈利，行业资本开支因而继续保 持增长。由于油服企业的业绩表现通常滞后于油气公司的投资周期，前期高油价驱动下的高强度资本投 入，其效益正延续至当前阶段，支撑了油服企业在油价下行期内的业绩增长。"厦门大学中国能源政策 研究院院长林伯强在接受《证券日报》记者采访表示。 本报记者 向炎涛 尽管国际油价震荡下行，但国内油田服务行业继续维持高景气度，相关上市公司前三季度业绩稳定增 长。 Wind数据显示，目前已披露三季报的油服企业中，贝肯能源控股集团股份有限公司、中海油能源发展 股份有限公司（以下简称"海油发展"）、华油惠博普科技股份有限公司等公司前三季度净利润均实现了 稳健增长，潜能恒信能源技术股份有限公司（以下简称"潜能恒信"）业绩明显改善。 具体来看，今年前三季度，海油发展实现营业收入339.47亿元，同比增长0.81%；实现归属于上市公司 股东的净利润 ...

Market Overview - The oil service engineering sector experienced a decline of 0.82% on October 28, with Keli Co., Ltd. leading the drop [1] - The Shanghai Composite Index closed at 3988.22, down 0.22%, while the Shenzhen Component Index closed at 13430.1, down 0.44% [1] Stock Performance - Notable stock performances included: - Renji Co., Ltd. (002629) rose by 10.01% to a closing price of 9.56, with a trading volume of 355,000 shares and a transaction value of 329 million [1] - Beiken Energy (002828) increased by 1.78% to 11.43, with a trading volume of 421,700 shares and a transaction value of 484 million [1] - Other stocks such as Huibo Yin (002554) and CNOOC Development (600968) saw declines of 0.30% and 0.76%, respectively [1] Capital Flow - The oil service engineering sector saw a net outflow of 33.92 million from institutional investors, while retail investors contributed a net inflow of 20.92 million [2][3] - The capital flow for individual stocks showed mixed results, with Renji Co., Ltd. experiencing a significant net outflow of 46.05 million from institutional investors [3] Individual Stock Analysis - Keli Co., Ltd. (920088) closed at 33.85, down 2.67%, with a trading volume of 31,000 shares and a transaction value of 106 million [2] - Zhongman Petroleum (603619) and Huo Ding Tian Station (600583) also faced declines of 2.08% and 1.61%, respectively [2] - The net inflow from retail investors for stocks like Renji Co., Ltd. was negative, indicating a potential shift in investor sentiment [3]

东吴证券近日发布原油周报：本周Brent/WTI原油期货周均价分别63.4/59.3美元/桶，较上周分别 +1.4/+1.0美元/桶。 东吴证券近日发布原油周报：本周Brent/WTI原油期货周均价分别63.4/59.3美元/桶，较上周分别 +1.4/+1.0美元/桶。美国原油产量为1363万桶/天，环比-1万桶/天。美国活跃原油钻机本周420台，环比 +2台。美国活跃压裂车队本周175部，环比+3部。美国原油总库存、商业原油库存、战略原油库存、库 欣原油库存分别8.3/4.2/4.1/0.2亿桶，环比-14/-96/+82/-77万桶。 【美国成品油】 1）成品油价格和价差：美国汽油、柴油、航煤周均价分别78/95/89美元/桶，环比+1.1/+2.0/-5.1美元/ 桶；与原油价差分别16/32/26美元/桶，环比+0.8/+1.7/-5.5美元/桶。 2）成品油库存：美国汽油、柴油、航空煤油库存分别2.2/1.2/0.4亿桶，环比-215/-148/-149万桶。 以下为研究报告摘要： 【美国原油】 1）原油价格：本周Brent/WTI原油期货周均价分别63.4/59.3美元/桶，较上周分别+1.4/+ ...

Core Insights - Pension funds have actively invested in the secondary market, appearing in the top ten circulating shareholders of 45 stocks by the end of Q3, with 23 new entries and 7 increased holdings [1][2] - The total shareholding amount of pension accounts reached 379 million shares, with a total market value of 10.011 billion yuan [1] - The most significant holdings include Haiyou Development and Shenzhen Airport, with respective holdings of 65.3843 million shares and 24.2047 million shares [1][2] Summary by Category Shareholding Details - Haiyou Development is the largest holding, with pension funds holding 65.3843 million shares, a 25.49% increase from the previous quarter [2][3] - Shenzhen Airport follows with 24.2047 million shares, maintaining its position [2] - Other notable holdings include Blue Sky Technology (20.7810 million shares, 6.78% of circulating shares) and Spring Wind Power (7.9514 million shares, 5.21% of circulating shares) [2][3] Performance and Sector Distribution - Among the stocks held by pension funds, 30 companies reported net profit growth in Q3, with the highest increase seen in Zhi De Mai, achieving a net profit of 13.4486 million yuan, a 253.49% year-on-year increase [2] - The stocks are primarily distributed across the main board (25 stocks), ChiNext (16 stocks), and STAR Market (4 stocks), with a focus on the machinery equipment and pharmaceutical industries, each having 7 stocks represented [2][3] New Entrants and Changes - A total of 23 new stocks were added to the pension fund's portfolio, with notable new entries including North Copper Industry and Hubei Yihua [3] - The pension fund's longest-held stock is Jiajiayue, which has been in the top ten shareholders for 28 consecutive reporting periods, holding 13.3027 million shares [2]

Report Information - Report Title: Crude Oil Weekly Report: US Sanctions Two Russian Oil Companies, International Oil Prices Rise [1] - Report Date: October 26, 2025 [1] - Analysts: Chen Shuxian, Zhou Shaowen [1] Industry Investment Rating - Not provided in the report Core Viewpoints - This week, Brent/WTI crude oil futures had weekly average prices of $63.4/$59.3 per barrel, up $1.4/$1.0 per barrel from last week. Various data on US crude oil and refined oil, including inventory, production, demand, and import/export, showed different changes [2]. - Recommended related listed companies include CNOOC, PetroChina, Sinopec, etc.; companies to be concerned about include Sinopec Oilfield Service, CNPC Engineering, etc. [3] Summary by Directory 1. Crude Oil Weekly Data Briefing - **Upstream Key Company Performance**: The stock prices of companies such as CNOOC, PetroChina, and Sinopec showed different percentage changes in the recent week, month, three - month, one - year, and year - to - date periods. Their valuations, including total market value, net profit attributable to the parent company, PE, and PB, also varied [9]. - **Crude Oil Price**: Brent, WTI, Russian Urals, and Russian ESPO crude oil had different weekly average prices and percentage changes. The LME copper spot price and the US dollar index also had corresponding fluctuations [9]. - **Inventory**: US crude oil total inventory, commercial crude oil inventory, strategic crude oil inventory, and Cushing crude oil inventory had different inventory levels and changes [9]. - **Production**: US crude oil production, the number of active crude oil rigs, and the number of active fracturing fleets had corresponding changes [9]. - **Refinery**: US refinery crude oil processing volume and operating rate, as well as the operating rates of Chinese local and major refineries, showed different changes [9]. - **Import/Export**: US crude oil import, export, and net import volumes had corresponding changes [9]. 2. This Week's Petroleum and Petrochemical Sector Market Review - **Petroleum and Petrochemical Sector Performance**: The report presents the performance of the petroleum and petrochemical sector, but specific data is not detailed here [12]. - **Sector Listed Company Performance** - **Refined Oil Price and Spread**: The weekly average prices and spreads of gasoline, diesel, and jet fuel in China, the US, Europe, and Singapore showed different changes [22]. - **Inventory**: The inventories of gasoline, diesel, and jet fuel in the US and Singapore had different inventory levels and changes [22]. - **Production**: The production of gasoline, diesel, and jet fuel in the US had corresponding changes [22]. - **Consumption**: The consumption of gasoline, diesel, and jet fuel in the US had corresponding changes [22]. - **Import/Export**: The import, export, and net export volumes of gasoline, diesel, and jet fuel in the US had corresponding changes [22]. - **Oil Service Sector**: The daily rates of offshore jack - up drilling platforms and semi - submersible drilling platforms had different changes [22]. 3. Crude Oil Sector Data Tracking - **Crude Oil Price**: Analyzes the prices and spreads of various crude oils, as well as the relationship between the US dollar index, LME copper price, and WTI crude oil price [28][35]. - **Crude Oil Inventory**: Discusses the relationship between US commercial crude oil inventory and oil prices, as well as the inventory levels and changes of US total crude oil, commercial crude oil, strategic crude oil, and Cushing crude oil [41][54]. - **Crude Oil Supply**: Analyzes US crude oil production, the number of crude oil rigs, and the number of fracturing fleets and their relationship with oil prices [57][61]. - **Crude Oil Demand**: Analyzes US refinery crude oil processing volume, operating rate, and the operating rates of Shandong and Chinese major refineries [65][69]. - **Crude Oil Import/Export**: Analyzes US crude oil import, export, and net import volumes [75]. 4. Refined Oil Sector Data Tracking - **Refined Oil Price**: Analyzes the relationship between international oil prices and domestic gasoline, diesel retail prices, as well as the prices and spreads of crude oil and refined oil in different regions [80][107]. - **Refined Oil Inventory**: Analyzes the inventory levels and changes of gasoline, diesel, and jet fuel in the US and Singapore [121][133]. - **Refined Oil Supply**: Analyzes the production of gasoline, diesel, and jet fuel in the US [140]. - **Refined Oil Demand**: Analyzes the consumption of gasoline, diesel, and jet fuel in the US and the number of US airport passenger security checks [143]. - **Refined Oil Import/Export**: Analyzes the import, export, and net export volumes of gasoline, diesel, and jet fuel in the US [150][153]. 5. Oil Service Sector Data Tracking - Analyzes the average daily rates of self - elevating drilling platforms and semi - submersible drilling platforms in the oil service sector [165][169].