2024 年度差异化权益分派相关事宜之法律意见书 致：中曼石油天然气集团股份有限公司 君合律师事务所上海分所（以下简称"本所"）接受中曼石油天然气集团股 份有限公司（以下简称"公司"或"中曼石油"）的委托，根据《中华人民共和 国公司法》《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公司股 份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购股份》《上 海证券交易所交易规则》等中国现行法律、行政法规和规范性文件（以下统称"中 国法律、法规"，为本法律意见书法律适用之目的，"中国法律、法规"不包括 中国香港特别行政区、澳门特别行政区及台湾地区的法律、法规）以及《中曼石 油天然气集团股份有限公司章程》（以下简称"《公司章程》"）的有关规定，就公 司 2024 年度差异化权益分派特殊除权除息处理（以下简称"本次差异化权益分 派"）相关事宜出具本法律意见书。 上海市石门一路 288 号 兴业太古汇香港兴业中心一座 26 层 邮编：200041 电话：（86-21）5298 5488 传真：（86-21）5298 5492 junhesh@junhe.com 君合律师事务所上海分所 关于中曼石油 ...

证券代码：603619 证券简称：中曼石油 公告编号：2025-047 中曼石油天然气集团股份有限公司 2024年年度权益分派实施公告 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法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利0.30元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/29 | － | 2025/7/30 | 2025/7/30 | 差异化分红送转： 是 一、 通过分配方案的股东会届次和日期 本次利润分配方案经中曼石油天然气集团股份有限公司（以下简称"公司"）2025 年 6 月 5 日 的2024年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任公司上海分 公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。公司股票回购专用证券 账户所持有的公司 ...

2025.07. 22 7月22日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者 参考。 【品大事】 贵州茅台：拟与控股股东共同出资成立研究院公司 贵州茅台(600519)公告，公司拟与控股股东茅台集团共同出资成立贵州茅台酒厂（集团）科学与技 术研究院有限责任公司（简称"研究院公司"）。研究院公司注册资本金为10亿元，其中公司以货币 +实物（实验仪器）形式出资4.9亿元（占股49%），茅台集团以货币+实物（科技大楼）形式出资 5.1亿元（占股51%）。 歌尔股份：拟约104亿港元收购精密金属结构件资产 歌尔股份(002241)公告，公司与香港联丰达成初步意向，拟以自有或自筹资金约104亿港元（折合 人民币约95亿元），收购香港联丰全资子公司香港米亚及昌宏有限公司100%股权。香港米亚及昌宏 有限公司在精密金属结构件领域内具有行业领先的竞争力，且与公司现有的精密结构件业务具有优势 互补和协同作用。 浙富控股：全资子公司从事大中型成套水轮发电机组的研发、设计、制造与服务 浙富控股(002266)公告，公司关注到近期市场对雅鲁藏布江下游水电工程（简称"雅下工程"）关注 度较高。公司 ...

7月22日晚间，沪深两市多家上市公司发布公告，以下是第一财经对一些重要公告的汇总，供投资者参 考。 【品大事】 贵州茅台：拟与控股股东共同出资成立研究院公司 贵州茅台(600519)公告，公司拟与控股股东茅台集团共同出资成立贵州茅台酒厂（集团）科学与技术研 究院有限责任公司（简称"研究院公司"）。研究院公司注册资本金为10亿元，其中公司以货币+实物 （实验仪器）形式出资4.9亿元（占股49%），茅台集团以货币+实物（科技大楼）形式出资5.1亿元（占 股51%）。 三博脑科：控股股东、董事长张阳解除留置并变更为责令候查 浙富控股：全资子公司从事大中型成套水轮发电机组的研发、设计、制造与服务 浙富控股(002266)公告，公司关注到近期市场对雅鲁藏布江下游水电工程（简称"雅下工程"）关注度较 高。公司全资子公司浙江富春江水电设备有限公司主要从事大中型成套水轮发电机组的研发、设计、制 造与服务，产品涵盖贯流式水轮发电机组、轴流式水轮发电机组和混流式水轮发电机组三大机型，以及 抽水蓄能发电机组、水电工程机电总承包以及电站机电设备总承包项目等。截至本公告披露日，雅下项 目尚处于开工建设初期，该项目具有投资规模大、建设周 ...

证券代码：603619 股票简称：中曼石油 公告编号：2025-046 中曼石油天然气集团股份有限公司 关于签署阿尔及利亚天然气区块勘探开发合同的公告 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法律责任。 2025 年 6 月 17 日，中曼石油天然气集团股份有限公司（以下简称"公司"） 参与了阿尔及利亚能源与矿业部（以下简称"ALNAFT"）组织的阿尔及利亚 BR2024 油气区块招标项目，公司成功中标获得阿尔及利亚 Zerafa II 天然气区块（以下简 称"Zerafa II 区块"）的勘探开发权。 2025 年 7 月 21 日，公司与阿尔及利亚国家石油公司签署了 Zerafa II 区块的 勘探开发合同。 二、交易对手方介绍 （一）基本情况 1.交易对手方名称：阿尔及利亚国家石油公司（以下简称"SONATRACH"） 重要内容提示： 目前双方已完成合同的签署，合同尚需获得阿尔及利亚能源与矿业部批准 并在《阿尔及利亚人民民主共和国官方公报》上公布之日起生效。 项目具体勘探开发方案需报 Zerafa II 天然气区块联合管理委 ...

邮箱：yanghui@hcyjs.com 执业编号：S0360522050001 证 券 研 究 报 告 能源周报（20250714-20250720） 推荐（维持） 下游采购需求释放，动力煤市场价格上涨 行业研究 基础化工 2025 年 07 月 21 日 华创证券研究所 证券分析师：杨晖 证券分析师：吴宇 邮箱：wuyu1@hcyjs.com 执业编号：S0360524010002 证券分析师：陈俊新 邮箱：chenjunxin@hcyjs.com 执业编号：S0360525040001 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 491 | 0.06 | | 总市值(亿元) | 45,780.94 | 4.27 | | 流通市值(亿元) | 40,686.88 | 4.83 | 相对指数表现 | % | 1M | 6M | 12M | | --- | --- | --- | --- | | 绝对表现 | 6.3% | 12.1% | 26.4% | | 相对表现 | 1.6% | 5.6% | 11.1% | -10% 2% 15% 27% 24 ...

➢ 美国原油库存下降，汽油库存上升。截至 7 月 11 日，1）原油：美国战略原 油储备 40270 万桶，周环比-30 万桶；商业原油库存 42216 万桶，周环比-386 万 桶 。 2 ） 成 品 油 ： 车 用 汽 油 / 航空煤油 / 馏 分 燃 料 油 库 存 分 别 为 23287/4481/10697 万桶，周环比+340/+57/+417 万桶。 ➢ 投资建议：我们推荐以下两条主线：1）油价有底，石油企业业绩确定性高， 叠加高分红特点，估值有望提升，建议关注抗风险能力强且资源量优势强的中国 石油、产量持续增长且桶油成本低的中国海油、高分红一体化公司中国石化；2） 国内鼓励油气增储上产，建议关注产量处于成长期的中曼石油、新天然气。 石化周报 OPEC+按计划增产，消费旺季影响下油价维持震荡 2025 年 07 月 19 日 ➢ OPEC+按计划增产，消费旺季影响下油价维持震荡。据 OPEC 最新数据， 25 年 6 月 DOC 产量环比增长 45.8 万桶/日，略高于其 41.1 万桶/日的增产计 划，其中，沙特阿拉伯、阿联酋、哈萨克斯坦增产幅度最大，分别提产了 17.3、 8.3、5.1 万 ...

Investment Strategy - Crude oil supply is expected to remain limited due to declining global oil and gas capital expenditures, with a significant reduction of nearly 122% from 2014 levels to $351 billion in 2021 [9][30][31] - Geopolitical tensions, particularly the Russia-Ukraine conflict, have exacerbated concerns over energy supply, with the EU planning to reduce oil imports from Russia by 90% by the end of 2022 [10][31] - Brent crude oil prices increased to $71.97 per barrel, up 2.95% week-on-week, while WTI prices rose to $67.93 per barrel, up 2.46% [11][32] Coal Industry - The average market price for Qinhuangdao port thermal coal (Q5500) rose to 628 RMB/ton, a 1.06% increase from the previous week, driven by improved demand and trading conditions [12][13] - Coal production is gradually recovering, with total inventory at ports reported at 26.9 million tons, down 2.46% week-on-week, indicating a tightening supply [12][13] - The domestic coal consumption for key power plants increased to 4.88 million tons per day, a 6.09% rise from the previous week, reflecting higher electricity demand due to ongoing high temperatures [12][13] Coking Coal - Coking coal prices have seen a slight increase, with the price for Shanxi main coking coal at 1,350 RMB/ton, up 9.76% week-on-week, as supply conditions improve [14][15] - The overall supply-demand situation for coking coal is improving, with increased orders from steel mills and a decrease in inventory levels [14][15] Natural Gas - The EIA projects that U.S. natural gas production and consumption will reach record highs in 2025, with expected consumption of 91.4 billion cubic feet per day [16][17] - U.S. natural gas prices decreased to $3.33 per million British thermal units, down 2.9% from the previous week, while European gas prices increased [16][17] - The EU has reached an agreement on a natural gas price cap, which may lead to liquidity issues and potential supply shortages [17] Oilfield Services - The oilfield services sector is experiencing a recovery in demand due to increased capital expenditures from major oil companies, which are projected to reach 581.738 billion RMB in 2023, reflecting a compound annual growth rate of 6% since 2018 [18][19] - The number of active drilling rigs globally decreased to 1,576, with a notable decline in the Middle East and the U.S. [19]

Core Insights - The report predicts that Brent crude oil prices will fluctuate around $65-70 per barrel in the second half of 2025, driven by tight supply and slow demand growth, with potential short-term spikes due to geopolitical factors [4][9] - The petrochemical industry is expected to gradually recover from its bottoming out phase, returning to a normal capacity cycle constrained by credit boundaries, leading to a slow recovery in profitability in 2025 and beyond [4][10] - Investment opportunities are highlighted in high-quality growth stocks, coal chemical equipment investments, and high-dividend sectors, emphasizing a bottom-up investment approach [4][10] Oil Price Trends - Oil prices experienced a two-phase trend in 2025: a decline from $74.64 to $60.23 per barrel (down 19.31%) until May 3, followed by a recovery to $77.01 per barrel (up 27.86%) after May 3 due to seasonal demand and geopolitical tensions [7][25] - The report indicates that global oil supply remains tight, with non-OECD countries contributing to demand growth, which will limit the extent of price declines [9][27] Industry Performance - Global refining capacity is projected to grow by 440,000 barrels per day from 2022 to 2028, with China contributing significantly to this increase [27][33] - The report notes that domestic refined oil demand is nearing its peak, with a decline in consumption due to economic weakness and competition from electric vehicles [39][45] - The petrochemical sector is experiencing a weak recovery, with some chemical products showing improved profitability despite high raw material costs [8][45] Investment Themes - The report emphasizes four main investment themes: 1. Quality growth and leading companies in the industry experiencing volume and price increases [10] 2. Opportunities in high-end materials and technology import substitution [10] 3. Investments related to the upcoming coal chemical investment cycle [10] 4. High dividend yielding state-owned enterprises benefiting from economic recovery [10][11] Recommendations - Key investment targets include leading companies in ethylene production, coal chemical leaders, and high dividend stocks such as China National Offshore Oil Corporation and China Petroleum [11][10] - The report suggests focusing on companies that are positioned to benefit from the recovery in domestic demand and the transition to high-end materials [11][10]

Core Viewpoint - The company, Zhongman Petroleum and Natural Gas Group Co., Ltd., has provided guarantees for its subsidiaries to secure bank loans, ensuring their operational needs and business continuity [1][9][10]. Group 1: Guarantee Details - The company and its wholly-owned subsidiary, Zhongman Petroleum Equipment Group Co., Ltd., provided a joint liability guarantee for Zhongman Drilling's application for a bank credit of 18 million RMB [1]. - The company also provided guarantees for Akesu Zhongman's loans of 260 million RMB and 200 million RMB from two different banks [1][6][7]. - As of now, the total guarantee amount provided by the company is 2,000 million RMB for Zhongman Drilling and 1,874.3661 million RMB for Akesu Zhongman, excluding the current guarantees [1]. Group 2: Internal Decision-Making Process - The company held board meetings on April 23, 2025, and June 5, 2025, to approve the expected guarantee amount for 2025, which falls within the previously estimated limits [2]. - No additional board or shareholder meetings were required for the current guarantees as they are within the approved limits [2]. Group 3: Necessity and Reasonableness of Guarantees - The guarantees are deemed necessary to support the subsidiaries' operational needs and ensure stable business development [9]. - The company maintains full control over the production and financial management of the subsidiaries, ensuring that the guarantee risks are manageable [9]. Group 4: Board Opinions - The board unanimously believes that the guarantees will facilitate the daily operations of the company's business segments and align with overall development needs [10]. - The operational conditions of the guaranteed entities are stable, and the risks associated with the guarantees are controllable, not affecting the company's normal operations or shareholder interests [10]. Group 5: Cumulative Guarantee Information - As of now, the total external guarantees amount to 2,312.2341 million RMB, accounting for 54.21% of the company's audited net assets for 2024 [11]. - All guaranteed entities are wholly-owned subsidiaries, and there are no overdue guarantees [11].