Financial Performance Forecast - The company expects a net profit attributable to shareholders of the parent company for 2025 to be between -22 million and -17.6 million yuan, indicating a temporary loss compared to the previous year [3]. - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, is projected to be between -30.5 million and -25 million yuan for 2025 [4]. - In 2024, the total profit was 42.84 million yuan, with a net profit attributable to shareholders of the parent company of 29.27 million yuan [5]. - The net profit attributable to shareholders of the parent company, excluding non-recurring gains and losses, was 22.79 million yuan in 2024 [5]. Operational Stability - The company maintains stable operations and continues to generate profits from its main business despite the expected temporary losses due to provisions for bad debts on prepaid rents and goods [6]. - The provision for bad debts is a cautious accounting measure aimed at strengthening asset quality, with a high likelihood of future recoverability [6]. Forecast Accuracy and Risks - The performance forecast is based on preliminary calculations by the company's finance department and has not been audited by registered accountants [7]. - There are no significant uncertainties affecting the accuracy of this performance forecast [7]. - Investors are advised to pay attention to investment risks as the forecast data is preliminary and subject to change upon the release of the audited annual report [8].

近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净点比 游资净占比 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-01-21 | | 31.65 -0.47% | -2184.26万 | -6.43% | 551.61万 | 1.62% | 1632.65万 | 4.81% | | 2026-01-20 | 31.80 | -1.55% | + 396.00万 | 1.72% | -362.82万 | -1.58% | -33.18万 | -0.14% | | 2026-01-19 | | 32.30 1.00% | 1201.44万 | 4.18% | -196.50万 | -0.68% | -1004.95万 | -3.49% | | 2026-01-16 | 31.98 | 5.58% | 371.47万 | 0.94% | -301.28万 | -0.76% | -70.19万 | -0.18% | | 2026-01-15 | | 30.2 ...

Group 1 - The refining and trading sector increased by 1.46% on January 19, with Bohai Chemical leading the gains [1] - The Shanghai Composite Index closed at 4114.0, up 0.29%, while the Shenzhen Component Index closed at 14294.05, up 0.09% [1] - Key stocks in the refining and trading sector showed significant price increases, with Bohai Chemical rising by 10.02% to a closing price of 4.50 [1] Group 2 - The main capital flow in the refining and trading sector saw a net inflow of 562 million yuan, while retail investors experienced a net outflow of 475 million yuan [2] - Notable stock performances included Hengli Petrochemical, which rose by 6.91% to a closing price of 25.08, and Runbei Hangke, which increased by 6.04% to 42.13 [1][2] - The trading volume for Bohai Chemical reached 956,500 shares, contributing to a transaction value of 413 million yuan [1]

Market Overview - The refining and trading sector experienced a decline of 1.61% on January 16, with Taishan Petroleum leading the drop [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Stock Performance - Notable gainers in the refining and trading sector included: - Heshun Petroleum (603353) with a closing price of 31.98, up 5.58% [1] - Bohai Chemical (600800) at 4.09, up 4.07% [1] - Baomo Co. (002476) at 7.42, up 3.34% [1] - Conversely, significant decliners included: - Taishan Petroleum (000554) at 6.84, down 3.39% [2] - Qixiang Tengda (002408) at 4.91, down 2.96% [2] - Tongkun Co. (601233) at 18.41, down 2.07% [2] Capital Flow - The refining and trading sector saw a net outflow of 226 million yuan from main funds, while speculative funds had a net inflow of 209 million yuan, and retail investors saw a net inflow of 17.16 million yuan [2] - Key stocks with significant capital flow included: - Baomo Co. (002476) with a main fund net inflow of 27.68 million yuan [3] - Guanghui Energy (600256) with a main fund net inflow of 25.49 million yuan [3] - Bohai Chemical (600800) with a main fund net inflow of 23.69 million yuan [3]

Core Viewpoint - The Guozheng Oil and Gas Index (399439) closed at 2010.59 points, reflecting a 0.98% increase with a trading volume of 33.145 billion yuan and a turnover rate of 1.11% [1] Group 1: Index Performance - On the day, 32 constituent stocks of the index rose, with Heshun Petroleum leading the gains at 10.01%, while 16 stocks declined, with China National Petroleum Corporation leading the losses at 2.28% [1] Group 2: Capital Flow - The net outflow of main funds from the Guozheng Oil and Gas Index constituents totaled 243 million yuan, while speculative funds saw a net inflow of 131 million yuan, and retail investors contributed a net inflow of 112 million yuan [2]

Group 1 - The oil and petrochemical sector is experiencing a volatile rebound, with HeShun Petroleum hitting the daily limit up [1] - Other companies such as KeLi Co., TongYuan Petroleum, TongKun Co., HengYi Petrochemical, BoHai Chemical, and ZhunYou Co. also saw significant gains [1]

Core Viewpoint - The company, Heshun Petroleum (603353), indicated that its operational performance and financial data for the year 2025 will be disclosed in the annual report for that year [1] Group 1 - The company responded to investor inquiries on its interactive platform [1] - The disclosure of 2025 financial data is anticipated to occur in the annual report [1]

Core Viewpoint - The stock of Heshun Petroleum (603353) has shown a decline in both price and key financial metrics, indicating potential challenges in its operational performance and market position [1][3]. Group 1: Stock Performance - As of January 12, 2026, Heshun Petroleum closed at 27.7 yuan, down 0.4%, with a turnover rate of 4.4% and a trading volume of 75,000 hands, resulting in a transaction amount of 206 million yuan [1]. - The net outflow of main funds on January 12 was 23.13 million yuan, accounting for 11.21% of the total transaction amount, while retail investors saw a net inflow of 18.57 million yuan, representing 9.0% of the total [1][2]. Group 2: Recent Fund Flow Overview - Over the past five days, the stock has experienced fluctuating fund flows, with notable net outflows from main funds on January 9 and January 12, and a significant drop in stock price on January 8 [2]. - The net inflow from retail investors has been relatively stable, indicating some level of support from smaller investors despite the overall negative trend in main fund flows [2]. Group 3: Financial Metrics and Industry Comparison - Heshun Petroleum's total market value is 4.762 billion yuan, significantly lower than the industry average of 213.363 billion yuan, ranking 13th in the industry [3]. - The company reported a net profit of 21.81 million yuan for the first three quarters of 2025, a decline of 49.44% year-on-year, with a gross margin of 7.64%, which is below the industry average of 18.66% [3]. - The company's return on equity (ROE) stands at 1.32%, slightly above the industry average of 1.3%, but its price-to-earnings ratio (P/E) is significantly higher at 163.78 compared to the industry average of 36.03, indicating potential overvaluation [3].

Core Viewpoint - Heshun Petroleum (603353) is actively pursuing the acquisition of Shanghai Kuixin Integrated Circuit Design Co., with ongoing due diligence and a focus on the Chiplet sector, which is expected to see significant growth in the coming years [1][2][3] Group 1: Company Performance - As of January 9, 2026, Heshun Petroleum's stock closed at 27.81 yuan, up 1.76% from the previous week [1] - The company's total market capitalization is 4.781 billion yuan, ranking 18th out of 30 in the refining and trading sector and 3594th out of 5182 in the A-share market [1] Group 2: Acquisition and Strategic Focus - The acquisition of Kuixin Technology is progressing, with a focus on high-speed interconnect IP and Chiplet solutions, which are critical for high-performance computing [1][2] - Kuixin Technology's Chiplet clients include leading domestic AI chip companies, with products aimed at large model training and scientific computing, expected to achieve mass production in the second half of next year [1][3] Group 3: Future Growth and Market Demand - Kuixin Technology is experiencing a positive growth trend in 2025, with increasing order volumes and stable expansion of core IP and Chiplet solutions [2][3] - The company's future growth will be driven by three main business lines: steady growth in IP business, expansion of AI SIC mass production services, and potential growth from Chiplet and IO Die technologies [2][3]

Market Overview - The refining and trading sector experienced a decline of 0.75% on January 8, with Heshun Petroleum leading the drop [1] - The Shanghai Composite Index closed at 4082.98, down 0.07%, while the Shenzhen Component Index closed at 13959.48, down 0.51% [1] Stock Performance - Notable gainers in the refining and trading sector included: - Daqing Huake (000985) with a closing price of 19.84, up 2.48% [1] - Runbei Hangke (001316) at 39.45, up 2.04% [1] - Maoyang Xingchang (000819) at 16.44, up 1.99% [1] - Conversely, Heshun Petroleum (603353) saw a significant decline of 4.23%, closing at 27.87 [2] - Other notable decliners included: - Baomo Co. (002476) down 3.70% [2] - Rongsheng Petrochemical (002493) down 2.26% [2] Capital Flow - The refining and trading sector experienced a net outflow of 438 million yuan from major funds, while retail investors saw a net inflow of 331 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment among investors, with retail investors showing more confidence compared to institutional investors [2] Individual Stock Capital Flow - Runbei Hangke (001316) had a net inflow of 12.19 million yuan from major funds, while it faced a net outflow of 19.85 million yuan from retail investors [3] - Heshun Petroleum (603353) experienced a net outflow of 1.68 million yuan from major funds, but a net inflow of 6.77 million yuan from retail investors [3] - Other stocks like Taishan Petroleum (000554) and Baoli International (300135) also showed varied capital flows, reflecting differing investor sentiments [3]