Core Viewpoint - Zhongman Petroleum, established in 2003 and listed in 2017, is the first private enterprise in China with its own oil fields, showcasing significant investment value through its comprehensive business operations in exploration, oil service engineering, and petroleum equipment manufacturing [1] Business Performance - In Q3 2025, Zhongman Petroleum achieved a revenue of 2.985 billion yuan, ranking 4th in the industry, with the top competitor, Sinopec Oilfield Service, generating 55.163 billion yuan [2] - The company's net profit for the same period was 470 million yuan, also placing it 4th in the industry, while the industry leader, CNOOC Services, reported a net profit of 3.391 billion yuan [2] Financial Ratios - As of Q3 2025, Zhongman Petroleum's debt-to-asset ratio was 63.51%, higher than the industry average of 60.32% [3] - The gross profit margin stood at 44.60%, significantly above the industry average of 17.03% [3] Executive Compensation - Chairman Li Chundi's salary for 2024 is set at 2.03 million yuan, an increase of 419,500 yuan from 2023 [4] - President Li Shiguang's salary for 2024 is 1.1 million yuan, a decrease of 120,500 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 32.03% to 30,100 [5] - The average number of circulating A-shares held per shareholder increased by 47.13% to 15,400 [5] Growth Outlook - Longjiang Securities noted a 3.29% year-on-year revenue growth in the first half of 2025, but a 29.81% decline in net profit due to falling international oil prices and increased financial costs [5] - The company is expected to see net profits of 740 million yuan, 1.1 billion yuan, and 1.39 billion yuan from 2025 to 2027, maintaining a "buy" rating [5] International Operations - The overseas projects, particularly in the Kazakhstan and Iraq regions, are progressing well, contributing to production increases [6] - The company is actively involved in new projects, including the completion of planning for the Iraq project and successful test drilling in Kazakhstan [6]

Group 1 - The core point of the article is that Zhongman Petroleum (SH 603619) held its 14th board meeting on October 29, 2025, to discuss changes in accounting policies and other documents [1] - For the year 2024, Zhongman Petroleum's revenue composition is as follows: exploration and development accounts for 56.27%, auxiliary mining activities for 34.32%, specialized equipment manufacturing for 7.89%, other businesses for 1.18%, and trading for 0.35% [1] - As of the report, Zhongman Petroleum has a market capitalization of 9.2 billion yuan [1]

Group 1 - The core viewpoint of the article highlights the financial performance of Zhongman Petroleum for the third quarter of 2025, indicating a decline in revenue and net profit compared to the previous year [1] Group 2 - Zhongman Petroleum reported a revenue of approximately 2.985 billion yuan for the first three quarters of 2025, representing a year-on-year decrease of 2.18% [1] - The net profit attributable to shareholders of the listed company was about 453 million yuan, showing a year-on-year decline of 32.18% [1] - The basic earnings per share were 0.98 yuan, which is a decrease of 41.32% compared to the same period last year [1] - As of the report date, Zhongman Petroleum's market capitalization stood at 9.2 billion yuan [2]

二、持有人会议审议情况 证券代码：603619 证券简称：中曼石油 公告编号：2025-065 中曼石油天然气集团股份有限公司 关于第一期员工持股计划第二次持有人会议决议公告 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。 一、持有人会议召开情况 中曼石油天然气集团股份有限公司（以下简称"公司"）第一期员工持股计划 第二次持有人会议于 2025 年 10 月 29 日以现场和通讯相结合的方式召开。本次出 席会议的持有人为 53 名，持有份额代表公司员工持股计划份额 21,390,355 份，占 公司第一期员工持股计划认购总份额的 53.96%。会议由第一期员工持股计划管理 委员会主任石明鑫先生主持，本次会议的召集、召开和表决程序符合相关法律法规 和公司第一期员工持股计划（以下简称"员工持股计划"）的相关规定。 特此公告。 中曼石油天然气集团股份有限公司董事会 2025 年 10 月 31 日 会议以记名投票表决方式审议并通过了以下议案： （一）审议通过《关于公司第一期员工持股计划存续期延长的议案》 本员工持股计划存续期将于 2 ...

证券代码：603619 证券简称：中曼石油 公告编号：2025-064 中曼石油天然气集团股份有限公司 关于会计政策变更的公告 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。 本次变更后，公司装备制造板块、勘探开发板块、油服工程板块发出存货的成 本统一采用移动加权平均法。 4、变更日期 中曼石油天然气集团股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开第四届董事会第十四次会议和第四届董事会审计委员会第十次会议，审议通 过了《关于会计政策变更的议案》，本次会计政策变更事项对公司财务状况、经营 成果和现金流量无重大影响，不涉及以前年度的追溯调整，无需提交公司股东会审 议。现将有关事项公告如下： 一、本次会计政策变更情况概述 1、变更原因 随着公司数字化信息系统建设的深入推进，SAP 系统已全面上线运行，为规范 并优化财务及成本核算流程，更好地适配新系统的核算需求，同时鉴于公司业务主 体众多、存货型号繁多、收发频繁的经营特点，公司根据《企业会计准则第 1 号— —存货》等相关规定，决定将发出存货的计价方法予以 ...

证券代码：603619 证券简称：中曼石油 公告编号：2025-066 中曼石油天然气集团股份有限公司 关于第一期员工持股计划存续期延长的公告 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。 公司分别于 2022 年 5 月 11 日和 2022 年 6 月 2 日召开第三届董事会第十九次 会议和 2022 年第一次临时股东大会，审议通过了《关于<中曼石油天然气集团股份 有限公司第一期员工持股计划（草案）>及其摘要的议案》《关于<中曼石油天然气 集团股份有限公司第一期员工持股计划管理办法>的议案》等相关议案，同意公司 实施本持股计划，具体内容详见公司于 2022 年 5 月 12 日、2022 年 6 月 3 日在上 海证券交易所网站（www.sse.com.cn）披露的相关公告。 公司于 2022 年 12 月 2 日披露了《中曼石油天然气集团股份有限公司关于第一 期员工持股计划非交易过户完成的公告》（公告编号：2022-108）。2022 年 12 月 1 日，公司收到中国证券登记结算有限责任公司出具的《过户登记确认书》， ...

表决情况：8 票同意，0 票反对，0 票弃权。 证券代码：603619 证券简称：中曼石油 公告编号：2025-063 中曼石油天然气集团股份有限公司 第四届董事会第十四次会议决议公告 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。 一、董事会会议召开情况 中曼石油天然气集团股份有限公司（以下简称"公司"）第四届董事会第十四 次会议的通知于2025年10月27日以电子邮件、电话等方式发出，会议于2025年10 月29日在上海市浦东新区江山路3998号公司会议室以现场与通讯结合方式召开。 本次会议应当出席的董事8名，实际出席会议的董事8名，会议由董事长李春第 先生主持，部分高管列席了会议。会议的通知、召开符合《公司法》、《公司章程》 及有关法律、法规的规定，会议决议有效。 二、董事会会议审议情况 （一）审议通过了《关于公司 2025 年第三季度报告的议案》 公司 2025 年第三季度报告已经公司董事会审计委员会审议通过，一致同意提 交公司董事会进行审议。 具体内容详见公司于同日披露的《中曼石油天然气集团股份有限公司 2025 年 ...

Financial Performance - The company's operating revenue for the third quarter was CNY 1,003,442,861.42, a decrease of 11.44% compared to the same period last year[4] - The total profit for the quarter was CNY 240,279,787.12, down 28.63% year-on-year[4] - The net profit attributable to shareholders was CNY 153,167,198.21, reflecting a decline of 36.38% compared to the previous year[4] - The basic earnings per share for the quarter was CNY 0.33, a decrease of 43.10% year-on-year[5] - Total operating revenue for the first three quarters of 2025 was CNY 2,984,587,237.60, a decrease of 2.2% compared to CNY 3,051,055,887.38 in the same period of 2024[19] - Operating profit for the first three quarters of 2025 was CNY 694,170,491.04, down 21.4% from CNY 883,455,673.07 in the previous year[19] - Net profit for the first three quarters of 2025 was CNY 470,415,974.07, a decline of 31.5% compared to CNY 686,388,254.26 in 2024[20] - Earnings per share for the first three quarters of 2025 was CNY 0.98, down from CNY 1.67 in the same period of 2024[20] Assets and Liabilities - The total assets at the end of the reporting period were CNY 12,684,010,784.83, an increase of 6.10% from the end of the previous year[5] - The company’s total assets as of September 30, 2025, amounted to RMB 12.68 billion, an increase from RMB 11.96 billion at the end of 2024[15] - Current assets totaled RMB 4.75 billion, up from RMB 4.39 billion at the end of 2024, indicating a growth of approximately 8.09%[14] - The total non-current assets reached RMB 7.94 billion, an increase from RMB 7.56 billion at the end of 2024, showing a growth of 5.01%[15] - The company’s total liabilities were RMB 8.68 billion, reflecting a slight increase from RMB 8.29 billion at the end of 2024[15] - Total liabilities increased to CNY 8,055,886,276.53, compared to CNY 7,689,818,356.23 in the previous year, reflecting a growth of 4.8%[19] - Total equity increased to CNY 4,628,124,508.30, up from CNY 4,265,421,905.27, representing a growth of 8.5% year-over-year[19] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 1,014,045,952.20, an increase of 16.34%[4] - Operating cash flow for the first three quarters of 2025 reached ¥1,014,045,952.20, an increase of 16.3% compared to ¥871,594,124.89 in the same period of 2024[21] - Total cash inflow from operating activities was ¥4,812,918,271.31, up from ¥4,033,309,106.74, reflecting a growth of 19.3% year-over-year[21] - Cash outflow for purchasing goods and services increased to ¥2,486,800,169.89, compared to ¥1,830,010,492.06 in the previous year, marking a rise of 36%[22] - Net cash flow from investing activities was -¥1,060,980,647.18, worsening from -¥692,333,402.89 in the prior year, indicating increased investment expenditures[22] - Cash inflow from financing activities totaled ¥2,491,170,492.45, a decrease of 16.8% from ¥2,993,862,110.16 in the same period last year[22] - Cash outflow for debt repayment rose significantly to ¥2,096,696,710.00, compared to ¥1,218,193,796.24 in 2024, reflecting a 72% increase[22] - The ending cash and cash equivalents balance was ¥2,284,254,539.48, down from ¥2,087,589,803.79, showing a decrease of 11.5% year-over-year[22] - The company reported a net decrease in cash and cash equivalents of -¥59,336,240.48 for the period, contrasting with a net increase of ¥1,069,754,099.68 in the previous year[22] Production and Market Conditions - In Q3 2025, the company produced a total of 234,300 tons of crude oil, representing a year-on-year increase of 5.07%[13] - The WTI crude oil average price was $66.47 per barrel, down 13.64% compared to the same period in 2024[13] - The total revenue from the Wensu project in Q3 2025 was 164,900 tons, a decrease of 3.00% year-on-year[13] Expenses - Research and development expenses for the first three quarters of 2025 were CNY 99,787,687.27, an increase of 12.2% from CNY 88,638,480.21 in 2024[19] - Financial expenses rose to CNY 250,947,337.01, up 36.4% from CNY 184,113,280.36 in the previous year[19] Other Comprehensive Income - Other comprehensive income after tax was CNY -8,406,960.31, compared to CNY -66,445,750.59 in the same period of 2024[20] Accounting Standards - The company did not apply new accounting standards for the year, maintaining consistency in financial reporting[23]

Market Overview - The oil service engineering sector increased by 0.33% compared to the previous trading day, with Keli Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 4016.33, up 0.7%, while the Shenzhen Component Index closed at 13691.38, up 1.95% [1] Stock Performance - Keli Co., Ltd. (code: 920088) closed at 34.82, with a rise of 2.87% and a trading volume of 31,900 shares, amounting to a transaction value of 109 million yuan [1] - Huibo Yin (code: 002554) closed at 3.45, up 2.37%, with a trading volume of 852,700 shares, totaling 291 million yuan [1] - Zhongman Petroleum (code: 619609) closed at 20.10, increasing by 1.57% with a trading volume of 95,300 shares [1] - Other notable stocks include Beiken Energy (code: 002828) at 11.59 (+1.40%), Qianeng Hengxin (code: 300191) at 20.49 (+1.19%), and Tongyuan Petroleum (code: 300164) at 5.99 (+1.01%) [1] Capital Flow - The oil service engineering sector experienced a net outflow of 61.94 million yuan from institutional investors, while retail investors saw a net inflow of 58.92 million yuan [2][3] - The main capital inflow and outflow for specific stocks include: - Huibo Yin: net outflow of 46.79 million yuan from main capital [3] - Ren Zhi Co., Ltd. (code: 002629): net inflow of 13.97 million yuan from main capital [3] - Zhongman Petroleum: net inflow of 13.35 million yuan from main capital [3] - Tongyuan Petroleum: net inflow of 11.08 million yuan from main capital [3]

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]