Core Points - China Petroleum announced its 2025 semi-annual cash dividend distribution plan, with the record date set for September 16, 2025, and the payment date on September 17, 2025 [1] - The total number of shares before the distribution is 183,020,977,818, with a cash dividend of RMB 0.22 per share (tax included), amounting to a total cash dividend distribution of approximately RMB 40,264,615,119.96 (tax included) [1] - The total cash dividend for A-shares is approximately RMB 35.623 billion (tax included) [1]

Group 1 - The core viewpoint of the news highlights the recent trading performance of China Petroleum, indicating a decline in stock price and significant changes in financing activities [1] - On September 5, China Petroleum's stock fell by 1.00%, with a trading volume of 1.383 billion yuan, and a net financing outflow of approximately 29.87 million yuan [1] - The total financing and securities balance for China Petroleum as of September 5 is 2.282 billion yuan, with a financing balance of 2.26 billion yuan, which is low compared to the 20th percentile over the past year [1] Group 2 - China Petroleum's main business includes exploration, development, production, transportation, and sales of crude oil and natural gas, as well as refining and chemical production [2] - As of June 30, 2025, China Petroleum reported a revenue of 1.450 trillion yuan, a year-on-year decrease of 6.68%, and a net profit attributable to shareholders of 83.993 billion yuan, down 5.21% year-on-year [2] - The company's revenue composition includes refining products (73.89%), crude oil (45.28%), natural gas (39.06%), and chemical products (10.48%) [2] Group 3 - China Petroleum has distributed a total of 835.015 billion yuan in dividends since its A-share listing, with 243.89 billion yuan distributed in the last three years [3] - As of June 30, 2025, the top ten circulating shareholders include Hong Kong Central Clearing Limited and several ETFs, indicating a slight increase in holdings for some institutional investors [3] - The number of shareholders decreased by 8.82% to 482,400, while the average circulating shares per person increased by 9.77% to 339,297 shares [2]

Core Viewpoint - The completion of the urea granulation tower at the PetroChina Tashi Chemical Green Low-Carbon Project marks a significant milestone in the project's construction, entering the peak installation phase and nearing the completion of civil works [1] Group 1: Project Overview - The project is located in the Xinjiang Korla Shakush Chemical Industry Park and aims for near-zero carbon dioxide emissions through the use of advanced ammonia synthesis technology based on ethylene-rich tail gas [1] - The urea granulation tower, a core structure of the urea production facility, has a design height of 122.5 meters and a diameter of 24 meters, featuring a reinforced concrete cylindrical structure [1] Group 2: Construction Details - The construction of the granulation tower involves an estimated total concrete pouring volume exceeding 7,000 cubic meters and the use of over 1,600 tons of rebar [1] - The project team has successfully tackled the challenge of using C45 high-strength concrete in the construction of the granulation tower, a first in the country, along with the associated mix ratio testing [1]

Core Viewpoint - China Petroleum & Chemical Corporation (the "Company") reported better-than-expected operating performance in the first half of the year, driven by proactive responses to market changes and advancements in production, technology, and marketing strategies [1] Group 1: Financial Performance - The Company achieved a revenue of 1.5 trillion yuan and a net profit of 84.01 billion yuan in the first half of the year [1] - The board declared an interim dividend of 0.22 yuan per share, totaling 40.26 billion yuan, maintaining a historically high payout level [1] Group 2: Oil and Gas Production - The Company recorded an oil and gas equivalent production of 924 million barrels, a year-on-year increase of 2.0%, with crude oil production at 476 million barrels (up 0.3%) and marketable natural gas production at 2.68 trillion cubic feet (up 3.8%) [2] - The Company made significant breakthroughs in exploration and development, optimizing production capacity and enhancing recovery rates [2] Group 3: Refining and Chemical Business - The Company is advancing its refining and chemical transformation, with significant projects in Jilin and Guangxi achieving mid-stage completion [6] - The production of ethylene and chemical products reached historical highs, with chemical product sales increasing by 4.9% and new materials production up by 54.9% [6] Group 4: Sales and Market Expansion - The Company enhanced its marketing strategies, resulting in a 0.3% increase in domestic refined oil sales and a 1.5 percentage point increase in market share [7] - Sales of natural gas reached 151.5 billion cubic meters, a year-on-year increase of 2.9%, with domestic sales up 4.2% [7] Group 5: Technological Innovation - The Company emphasizes innovation as a primary development strategy, focusing on enhancing core competitiveness in oil and gas exploration, refining, and new energy sectors [8] - The implementation of the "Smart Oil" strategy aims to integrate digital technology with the energy industry, improving efficiency across the entire value chain [8]

近日，中国石油润滑油公司攻关研制的牵引电机轴承润滑脂自主化方案正式获得行业认可。这一成 果标志着我国市域列车关键润滑材料成功实现国产化替代，打破了国外品牌在该领域的长期垄断，向国 家轨道交通核心部件自主可控迈出关键一步。 市域列车具有高速运行、启停频繁、工况温差大等特点，其牵引电机轴承作为核心传动部件，需要 在零下40摄氏度至150摄氏度的极端工况下，保持连续运转120万公里以上。这对润滑脂的剪切安定性、 氧化安定性、极压抗磨性提出了苛刻的技术要求。 在此之前，我国该类高端轴承脂长期100%依赖进口，不仅采购成本高、交付周期长，更因核心技 术与供应渠道受制于人，成为掣肘市域列车整车自主化率提升的"卡脖子"环节。为突破困境，2023年9 月，包括润滑油公司兰州研发中心在内的3家国内顶尖油脂科研机构组成联合攻关团队，历经18个月技 术攻坚，完成了从基础油分子结构设计、复合皂基改性到极限工况验证的全流程自主研发，成功研制出 具有完全知识产权的"高铁品质·市域专用"润滑脂产品。经检测，产品关键性能指标达到国际先进水 平，且具备批量稳定供应能力，彻底打破了高端轴承脂依赖进口的被动局面，也为后续市域列车全寿命 周期运维降 ...

Group 1 - A-shares showed mixed performance on September 8, with the China Petroleum and Chemical Industry Index rising over 1%, led by stocks such as Huafeng Chemical, Yara International, and Xin Feng Ming [1] - The petrochemical ETF (159731) followed the index upward, indicating a favorable timing for investment [1] - According to Shenwan Hongyuan Securities, there is an expectation of recovery in polyester market conditions, with improved supply and demand potentially raising profit margins for leading polyester companies [1] Group 2 - The oil price has seen a downward adjustment, which is expected to improve the cost structure for refining companies, particularly as overseas refineries exit the market and domestic refinery operating rates remain low [1] - Recommended companies in the refining sector include Hengli Petrochemical, Rongsheng Petrochemical, and Sinopec, as they may benefit from a favorable competitive landscape [1] - Oil companies are expected to mitigate risks associated with falling oil prices through improved operational quality, with a recommendation for high dividend yield stocks such as China National Petroleum and China National Offshore Oil [1] Group 3 - The petrochemical ETF (159731) and its linked funds (017855/017856) closely track the China Petroleum and Chemical Industry Index, with the basic chemical industry accounting for 60.7% and the petroleum and petrochemical industry for 32.3% of the index [1] - The top ten weighted stocks in the index include Wanhua Chemical, China National Petroleum, Sinopec, and others, collectively accounting for 55.63% of the index [1]

Group 1 - The core focus of the Jiangdong New District since 2020 has been on sectors such as air economy, new finance, consumer goods, digital intelligence, and export-oriented industries [2] - A total of 483 key enterprises have been attracted to the Jiangdong New District, including 48 Fortune Global 500 companies [2]

Core Viewpoint - The successful trial operation of the gas-hydrogen blending technology project in Yumen City, Gansu Province, marks a significant step in China's exploration of integrating natural gas with new energy sources, addressing the challenges of renewable energy consumption and promoting a green comprehensive energy supply system [1][2]. Group 1: Project Overview - The project is the first demonstration application of gas-hydrogen blending in China and Gansu Province, showcasing the integration of natural gas and new energy technologies [1]. - The project aims to convert excess renewable energy, which cannot be timely transmitted or consumed, into stable hydrogen and related products using advanced water electrolysis technology [1][2]. - The gas-hydrogen blending technology allows for a flexible adjustment of hydrogen blending ratios between 5% and 20% [2]. Group 2: Environmental Impact - The application of gas-hydrogen blending technology is expected to reduce carbon emissions by approximately 1,600 tons annually, equivalent to planting about 80,000 trees, based on a 20% hydrogen blending ratio and an annual gas consumption of 10 million cubic meters in Yumen [2]. Group 3: Strategic Goals - The company aims to deepen cooperation with Jiuquan City in areas such as resource supply, green electricity interconnection, and zero-carbon park construction, establishing a model for enterprise-local government collaboration [2]. - The project supports the transition towards a clean and low-carbon energy structure, contributing to the development of the hydrogen energy industry chain in Gansu Province [2].

人民财讯9月8日电，据中国石油网消息，近日，中国石油首套自主研发的百千瓦级大温差跨临界二氧化 碳空气源热泵机组，在长庆油田采油一厂午107井组顺利完成试车并正式投入运行。该机组由中石油深 圳新能源研究院有限公司自主研制，标志着中国石油在大温差热泵技术领域实现从实验室研究到工业化 应用的跨越式突破。 转自：证券时报 ...

Core Insights - The article discusses the production trends of petroleum coke in China, highlighting a decrease in output for the year 2025 compared to previous years [1] Industry Overview - According to the National Bureau of Statistics, China's petroleum coke production in July 2025 is projected to be 2.65 million tons, reflecting a year-on-year decline of 2.1% [1] - Cumulative production from January to July 2025 is reported at 18.282 million tons, which represents a cumulative decrease of 4.4% compared to the same period in the previous year [1] Company Insights - The article lists several companies involved in the petroleum coke industry, including Huajin Co., Yuancheng Energy, Shanghai Petrochemical, Huaxi Energy, Wanhua Chemical, Hengli Petrochemical, Rongsheng Petrochemical, Xin'ao Co., and Sinopec Capital [1] - The report by Zhiyan Consulting provides an analysis of the development trends and investment potential in the petroleum coke industry from 2025 to 2031 [1]