Core Viewpoint - Zhongman Petroleum's stock has shown a positive trend with a year-to-date increase of 6.38%, reflecting investor interest and market activity [1][2]. Company Overview - Zhongman Petroleum and Natural Gas Group Co., Ltd. is located in Shanghai and was established on June 13, 2003, with its listing date on November 17, 2017. The company specializes in exploration and development, oil service engineering, and petroleum equipment manufacturing [1]. - The main revenue sources for Zhongman Petroleum are crude oil and its derivatives (54.70%), drilling engineering services (38.43%), and sales and leasing of drilling rigs and accessories (5.97%) [1]. Financial Performance - For the first half of 2025, Zhongman Petroleum reported a revenue of 1.981 billion yuan, representing a year-on-year growth of 3.29%. However, the net profit attributable to shareholders decreased by 29.81% to 300 million yuan [2]. - The company has distributed a total of 979 million yuan in dividends since its A-share listing, with 810 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Zhongman Petroleum had 44,300 shareholders, an increase of 32.16% from the previous period. The average number of circulating shares per shareholder decreased by 24.33% to 10,440 shares [2]. - Notable shareholders include Dazhong New锐产业混合A, which is the fifth-largest shareholder with 6.851 million shares, and Hong Kong Central Clearing Limited, which is the eighth-largest shareholder with 4.395 million shares, having reduced its holdings by 787,200 shares [3].

Core Viewpoint - Zhongman Petroleum (603619) reported a cash dividend of 0.20 yuan per share for the first half of 2025, with a total distribution of approximately 91.67 million yuan, reflecting a differentiated dividend approach due to share buybacks [1][3]. Trading Information Summary - On October 17, 2025, Zhongman Petroleum closed at 19.7 yuan, down 0.35%, with a turnover rate of 3.35% and a trading volume of 154,800 shares, amounting to a total transaction value of 307 million yuan [1]. - The net inflow of main funds was 16.97 million yuan, accounting for 5.52% of the total transaction value, while retail investors experienced a net outflow of 23.30 million yuan, representing 7.58% of the total [1]. Company Announcement Summary - Zhongman Petroleum announced a cash dividend of 0.20 yuan per share (tax included), with the record date set for October 23, 2025, and the ex-dividend date on October 24, 2025. The total cash dividend distribution is based on 458,344,161 shares after excluding repurchased shares [1][3]. - The company provided guarantees for loans amounting to 15 million yuan and 10 million yuan for its wholly-owned subsidiaries, with a total external guarantee amounting to 256.61 million yuan, which is 64.16% of the audited net assets as of the end of 2024 [2][4].

Investment Rating - The report maintains a "Positive" investment rating for the oil processing industry, consistent with the previous rating [1]. Core Insights - International oil prices have declined due to various factors, including trade tensions between the US and China, which have created a volatile market environment. As of October 17, 2025, Brent and WTI crude oil prices were $61.29 and $57.15 per barrel, respectively [2][9]. - The report highlights a significant increase in global oil supply, with the IEA forecasting a more severe oversupply situation for the coming year [2]. - The US crude oil production reached 13.636 million barrels per day, showing a slight increase of 0.07 million barrels per day from the previous week [2][50]. - The report notes a decrease in US refinery crude processing to 15.130 million barrels per day, down by 1.167 million barrels per day, with a refinery utilization rate of 85.70%, a decline of 6.7 percentage points [2][62]. Summary by Sections Oil Price Review - Brent crude futures settled at $61.29 per barrel, down $1.44 (-2.30%) from the previous week, while WTI crude futures settled at $57.15 per barrel, down $1.75 (-2.97%) [2][19]. Offshore Drilling Services - As of October 13, 2025, the number of global offshore self-elevating drilling platforms was 373, an increase of 2 from the previous week, while the number of floating drilling platforms remained stable at 132 [2][29]. Crude Oil Supply - The US crude oil production was reported at 13.636 million barrels per day, with the number of active drilling rigs remaining at 418 [2][50]. Crude Oil Demand - US refinery crude processing decreased to 15.130 million barrels per day, with a utilization rate of 85.70% [2][62]. Crude Oil Inventory - As of October 10, 2025, total US crude oil inventories stood at 832 million barrels, an increase of 4.284 million barrels (+0.52%) from the previous week [2][63]. Related Companies - Key companies in the sector include China National Offshore Oil Corporation (CNOOC), China Petroleum & Chemical Corporation (Sinopec), and China National Petroleum Corporation (CNPC) [2][3].

Investment Rating - The report maintains a "Buy" recommendation for key companies in the oil and gas sector, specifically China National Petroleum Corporation, China Petroleum & Chemical Corporation, China National Offshore Oil Corporation, Zhongman Petroleum, and New Natural Gas [4]. Core Views - The geopolitical premium on crude oil has weakened, with OPEC+ supply dominating in the short term. The report highlights that despite pressures on oil prices due to increased OPEC+ production, there remains a bottom support for prices [1][8]. - The report suggests that the market's main influences on oil prices are the geopolitical situation in the Middle East and the supply intensity from OPEC+, rather than the recent developments in U.S.-China trade tensions or India's oil import policies [1][8]. Summary by Sections Industry Dynamics - As of October 17, the U.S. dollar index decreased to 98.55, while Brent crude oil futures settled at $61.29 per barrel, down 2.30% week-on-week, and WTI futures at $57.54 per barrel, down 2.31% [2][9]. - U.S. crude oil production rose to 13.64 million barrels per day, an increase of 10,000 barrels from the previous week, while refinery throughput decreased to 15.13 million barrels per day, down 117,000 barrels [10][11]. Company Performance - The report forecasts earnings per share (EPS) for key companies: China National Petroleum Corporation (0.90 CNY for 2024), China National Offshore Oil Corporation (2.90 CNY for 2024), and China Petroleum & Chemical Corporation (0.41 CNY for 2024) [4]. - The report indicates that the petrochemical sector is experiencing a "de-involution" policy, recommending attention to industry leaders with stable performance and high dividends, such as China National Petroleum and China Petroleum & Chemical [3][11]. Market Trends - The report notes that the oil and gas sector has seen a decline of 2.8% as of October 17, underperforming the broader market indices [12][16]. - The report highlights that the refining sub-sector had the highest weekly increase of 0.2%, while other petrochemical sub-sectors experienced declines, with the largest drop being 7.9% [16][17].

Core Points - The company announced a cash dividend of 0.20 yuan per share (tax included) for the first half of 2025 [2] - The record date for the dividend is set for October 23, 2025, with the ex-dividend date and payment date both on October 24, 2025 [2]

Core Viewpoint - The company, Zhongman Petroleum, announced that it has no overdue external guarantees, indicating a stable financial position and risk management strategy [2] Group 1 - Zhongman Petroleum released an announcement on October 17, stating that there are no overdue external guarantees [2]

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 关于中曼石油天然气集团股份有限公司 2025 年半年度差异化权益分派相关事宜之法律意见书 为出具本法律意见书，本所律师对本次差异化权益分派有关事项进行了审查， 查阅了本所认为出具本法律意见书所需查阅的文件，并就有关事项向中曼石油有 关人员作了询问并与之进行了必要的讨论，本所依赖于中曼石油作出的如下保证： 中曼石油已向本所提供了出具本法律意见书所必需的和真实的原始书面材料、副 本材料、复印材料或者口头证言，不存在任何遗漏或隐瞒；文件资料为副本、复 印件的，其内容均与正本或原件相符；提供给本所的各项文件的签署人均具有完 全的民事行为能力，并且其签署行为已获得恰当、有效的授权；中曼石油在指定 信息披露媒体上公告的所有资料都是完整、准确、充分、真实的，并且不存在任 | 北京总部 | 电话: (86-10) 8519-1300 | 上海分所 | 电话: (86-21) 5298-5488 | 广州 ...

证券代码：603619 证券简称：中曼石油 公告编号：2025-061 中曼石油天然气集团股份有限公司 关于 2025 年 9 月对外担保的进展公告 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： 本次担保金额在预计额度范围内，无需另行召开董事会及股东会审议。 二、被担保人基本情况 | 被担保人类型 | ☑法人 □其他______________（请注明） | | --- | --- | | 被担保人名称 | 中曼石油装备集团有限公司 | | 被担保人类型及上市 | ☑全资子公司 □控股子公司 | | 公司持股情况 | □参股公司 | | | □其他______________（请注明） | | 主要股东及持股比例 | 中曼石油持股 100% | | 法定代表人 | 李春第 | | 统一社会信用代码 | 91310115555991880L | | 成立时间 | 2010 年 06 月 07 日 | | 注册地 | 中国(上海)自由贸易试验区临港新片区江山路3998号飞 | | | 渡路 2099 号 1 幢 ...

证券代码：603619 证券简称：中曼石油 公告编号：2025-062 中曼石油天然气集团股份有限公司 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 | 2025/10/23 | － | 2025/10/24 | 2025/10/24 | 差异化分红送转： 是 一、 通过分配方案的股东会届次和日期 根据公司2025 年 6 月 5 日的2024年年度股东大会决议对中期分红事宜的相关授权，授权 董事会制定 2025 年中期分红方案，本次利润分配方案无需提交股东会审议。本次利润分配方 案已经公司 2025 年 8 月 26 日召开的第四届董事会第十二次会议审议通过。 二、 分配方案 2025年半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0.20元 1. 发放年度：2025年半年度 2. 分派对象： 截至股权登记日下午上海证券交易所收 ...

Summary of Key Points Core Viewpoint - Zhongman Petroleum (603619.SH) announced a cash dividend distribution of 0.20 yuan per share (including tax) to all shareholders, totaling 91.6688 million yuan (including tax) based on a total share capital of 462 million shares, after deducting the shares held in the company's repurchase account [1]. Group 1: Dividend Details - The cash dividend distribution is based on a total share capital of 462 million shares, with 4.58 million shares as the basis after excluding 3.9943 million shares held in the repurchase account [1]. - The dividend will be distributed on October 24, 2025, with the record date set for October 23, 2025 [2].