Group 1: Core Insights - The core composition of lubricating oil consists of base oil and additives, where base oil is the primary component determining the fundamental properties of the lubricating oil, while additives enhance and improve the performance of base oil [1] Group 2: Changes in China's Base Oil Capacity - The rapid expansion phase of China's base oil capacity has ended, with total capacity expected to reach 21.82 million tons per year by the end of 2024, reflecting a compound annual growth rate (CAGR) of 1% from 2020 to 2024 [3] - The growth in base oil capacity is shifting towards larger-scale production and the development of higher-grade base oils, such as Class II and Class III base oils [3] - A decline in base oil capacity growth is anticipated in 2024, primarily due to the removal of ineffective capacity and the shutdown of long-idled recycling oil facilities [3] Group 3: Regional Distribution of Base Oil Capacity - In 2024, the East China region is projected to have a capacity of 8.83 million tons, accounting for 40% of the total capacity, making it a major consumption area for base oil products [5] - The East China region benefits from favorable transportation conditions, facilitating the input of raw materials and the output of products, which supports the upstream and downstream industrial chain [5] Group 4: Supply and Demand of Lubricating Oil Additives - Domestic production of lubricating oil additives has increased from 583,000 tons in 2015 to 878,000 tons in 2022, with a CAGR of 6.02% [8] - The apparent consumption of lubricating oil additives in China was approximately 950,400 tons in 2022, with an annual average growth rate of 2.24% from 2015 to 2022 [8] - Preliminary estimates suggest that by 2024, the production and consumption of lubricating oil additives in China will reach 987,000 tons and 993,500 tons, respectively [8] Group 5: Impact of Supporting Industry Layout on Lubricating Oil Development - The layout of the base oil and additive industries significantly influences the development of the lubricating oil sector, as the quality and stability of base oil supply directly affect the performance and cost of lubricating oil [10] - China's increasing base oil production and decreasing reliance on imports provide a more stable supply of raw materials, which helps stabilize costs and ensure production [10] - Continuous technological advancements in the additive industry and accelerated domestic substitution processes enhance the overall competitiveness of the lubricating oil sector [10]

Group 1: Industry Overview - The Chinese lubricating oil industry is divided into three competitive tiers: the first tier includes international leaders like Shell and Mobil, the second tier consists of domestic giants China National Petroleum Corporation (CNPC) and China Petroleum & Chemical Corporation (Sinopec), and the third tier includes companies like Compton and Longpan Technology [1][3]. - The market is characterized by a "tripod" competition structure, with international brands holding nearly 25% market share, while CNPC and Sinopec's brands occupy close to 50% of the market [3][8]. - The industry shows a high concentration level, with a significant portion of the market dominated by a few key players [3][8]. Group 2: Brand Development - Domestic brands are enhancing their market presence through superior R&D capabilities and innovative marketing strategies, aiming to reshape consumer perceptions of traditional lubricating oil brands [4]. - The LubTop2023 awards recognized the top ten lubricating oil brands, which include Mobil, Shell, Castrol, and others, highlighting the competitive landscape and brand recognition in the industry [4][6]. Group 3: Company Performance - CNPC's Kunlun lubricating oil and Sinopec's Changcheng lubricating oil are the leading domestic brands, with CNPC's lubricating oil-related revenue reaching 3.5 trillion yuan and Sinopec's at 1.48 trillion yuan [7]. - Longpan Technology reported lubricating oil revenue of 5.32 billion yuan, while Compton's revenue was 7.55 billion yuan, indicating a diverse product range across these companies [7]. - The product offerings from CNPC and Sinopec cover a wide range of lubricating oils, including automotive, industrial, and marine lubricants, contributing to their extensive market reach [6][7]. Group 4: Competitive Dynamics - The competitive landscape is stable, with a high market concentration and strong brand loyalty among consumers, which limits the threat of new entrants [8]. - The bargaining power of downstream customers is relatively weak due to high demand for lubricating oils, while upstream suppliers face challenges from fluctuating crude oil prices [8].

Industry Overview - The lubricating oil industry in China consists of an upstream segment focused on oil extraction, refining base oils, and additive supply, a midstream segment for the production of lubricating oils, and a downstream segment serving various sectors such as engineering machinery, automotive, shipping, and rail transportation [1][3]. Key Companies - Major companies in the upstream segment include China National Petroleum Corporation (CNPC) and China Petroleum & Chemical Corporation (Sinopec), while companies like Longpan Technology and Compton are significant players in the midstream segment [3][9]. - The downstream sector includes automotive manufacturers and engineering machinery companies such as GAC Group and Weichai Power [3]. Regional Distribution - The majority of representative lubricating oil companies are located in eastern coastal regions such as Jiangsu, Zhejiang, and Guangdong, with Beijing housing the highest concentration of these companies [5][6]. Production Capacity - China National Petroleum and Sinopec have the largest production capacities in the lubricating oil sector, each exceeding 1 million tons per year [9][10]. Investment Trends - Recent investment trends in the lubricating oil industry focus on the production of high-end lubricating oils and project upgrades. Sinopec plans to invest RMB 293 billion in 2024 for various upgrading projects, while CNPC has allocated RMB 334.89 billion for similar initiatives [11][13].

Core Insights - The automotive fine chemicals industry is experiencing explosive growth driven by the expansion of the automotive sector, increasing environmental regulations, and the rapid adoption of electric vehicles. The market size for automotive fine chemicals in China was 46.255 billion yuan in 2023 and is expected to exceed 100 billion yuan by 2030 [1][17]. Industry Overview - Automotive fine chemicals are specialized chemical products used throughout the lifecycle of vehicles, including production, use, and recycling. They are crucial for various automotive systems, including lubrication, cleaning, protection, coatings, and adhesives [3][9]. - The main categories of automotive fine chemicals include lubricants, cleaning agents, protective products, coatings, and adhesives [4]. Market Dynamics - The demand for automotive fine chemicals has surged due to the increasing number of vehicles in China, which provides a stable market for maintenance-related chemicals. The automotive ownership in China is steadily rising, contributing to this demand [1][17]. - The global automotive fine chemicals market is projected to grow from 100 billion USD in 2023 to 180 billion USD by 2030, with a compound annual growth rate (CAGR) of 8.76% [14]. Policy Environment - Recent policies encourage the production of environmentally friendly products and the development of new materials in the fine chemicals sector. For instance, the "14th Five-Year Plan" aims to enhance the quality and efficiency of the petrochemical industry, promoting high-end fine chemicals [5][6]. Industry Chain - The automotive fine chemicals industry chain consists of upstream raw material suppliers, midstream manufacturers of fine chemicals, and downstream markets including vehicle manufacturing and maintenance services [7]. Key Companies - Notable companies in the automotive fine chemicals sector include Delian Group, Zhongsheng Gaoke, Longpan Technology, and others, which are involved in the production of various automotive chemicals such as coolants, lubricants, and cleaning agents [21][23][25]. Development Trends - The industry is shifting towards environmentally friendly products, with a focus on high-purity urea and water-based coatings. The demand for personalized and diversified products is also increasing, driven by consumer preferences [28][29]. - The trend towards smart and digital solutions in automotive fine chemicals is growing, with innovations aimed at enhancing product performance and user experience [30].

法律意见书 致青岛康普顿科技股份有限公司： 山东文康律师事务所（以下简称"本所"）接受青岛康普顿科技股份有限公 司（以下简称"公司"）的委托，指派霍丽如律师和赵琳琳律师见证了公司于 2025 年 5 月 23 日召开的 2024 年年度股东会（以下简称"本次股东会"）。 现根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称《证券法》）和《上市公司股东会规则》等法律、行政 法规、规范性文件以及《青岛康普顿科技股份有限公司章程》（以下简称《公司 章程》）、《青岛康普顿科技股份有限公司股东会议事规则》（以下简称《股东 会议事规则》）的规定，对本次股东会会议的召集、召开程序是否符合法律、行 政法规、规范性文件和《公司章程》的规定，出席/列席会议人员的资格、召集人 资格是否合法有效，表决程序与表决结果是否合法有效出具本法律意见书。 为出具本法律意见书，本所律师对本次股东会所涉及的事项进行了审查，查 阅了本所律师认为出具本法律意见书所必须查阅的文件、资料，并对有关问题进 行了必要的核查和验证。 山东文康律师事务所 关于青岛康普顿科技股份有限公司 法律意见书 青岛康普顿科技股份有限公司 ...

证券代码：603798 证券简称：康普顿 公告编号：2025-023 青岛康普顿科技股份有限公司 2024年年度股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 05 月 23 日 (二)股东会召开的地点：山东省青岛市崂山区深圳路 18 号的公司办公楼四楼会 议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 82 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 123,372,890 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 48.1080 | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 是 (五)公司董事、监事和董事会秘书的出席情况 二、 议案审议情况 (一)非累积投票议案 1、 议案名称：青岛康普顿科技股份有限公司关 ...

山东文康律师事务所 关于青岛康普顿科技股份有限公司 2024 年年度股东会的 法律意见书 青岛康普顿科技股份有限公司 文康· 法律意见书 山东文康律师事务所 关于青岛康普顿科技股份有限公司 2024 年年度股东会的 法律意见书 致青岛康普顿科技股份有限公司： 山东文康律师事务所（以下简称"本所"）接受青岛康普顿科技股份有限公 司（以下简称"公司"）的委托，指派霍丽如律师和赵琳琳律师见证了公司于 2025 年 5 月 23 日召开的 2024 年年度股东会（以下简称"本次股东会"）。 现根据《中华人民共和国公司法》（以下简称《公司法》）、《中华人民共 和国证券法》（以下简称《证券法》）和《上市公司股东会规则》等法律、行政 法规、规范性文件以及《青岛康普顿科技股份有限公司章程》（以下简称《公司 章程》）、《青岛康普顿科技股份有限公司股东会议事规则》（以下简称《股东 会议事规则》）的规定，对本次股东会会议的召集、召开程序是否符合法律、行 政法规、规范性文件和《公司章程》的规定，出席/列席会议人员的资格、召集人 资格是否合法有效，表决程序与表决结果是否合法有效出具本法律意见书。 本所同意将本法律意见书与本次股东会的决 ...

Group 1 - The core viewpoint of the article highlights the structure of lubricant oil consumption in China, which is divided into transportation and industrial oils, with transportation oil accounting for approximately 55% and industrial oil for about 30% of total consumption [1] - In the transportation lubricant oil segment, gasoline and diesel engine oils dominate, with their consumption proportions projected to be 36% and 39% respectively in 2024, while gear oil accounts for 9% [2] - The internal combustion engine oil, which includes gasoline and diesel engine oils, plays a crucial role in lubricating engine components and is expected to maintain a high consumption share [5] Group 2 - The strategic position analysis of the transportation lubricant oil market indicates that the automotive sector has a high market attractiveness and competitive position, while the engineering machinery sector shows a relatively lower strategic position due to slower growth [10] - The total consumption of turbine oil is expected to account for 16% and diesel engine oil for 24% in 2024, indicating a significant share of internal combustion engine oil in the lubricant market [8] - Major brands in the lubricant oil industry include Kunlun, Great Wall, Compton, and Longpan, offering a variety of products such as synthetic high-performance gasoline engine oils and specialized diesel engine oils [6]

转自：前瞻产业研究院 行业主要上市公司：中国石油(601857);中国石化(600028);康普顿(603798);龙蟠科技(603906);中晟高科 (002778);统一股份(600506)等 本文核心数据：润滑油行业上市公司汇总;业绩比较;发展规划等 1、润滑油行业上市公司汇总及基本信息 滑油是指涂在机器轴承、设备等运动部分表面的油状液体，主要用于减少运动部件表面间的摩擦，同时 起到冷却、密封、防腐、防锈、绝缘、功率传送、清洗杂质等的作用。 目前，我国润滑油相关产业链中上游产业包括原油/石油供应、润滑油基础油和润滑油添加剂，中游润 滑油制造主要包括汽车润滑油和工业润滑油等，润滑油作为工业应用、汽车制造中的血液，为工业、运 行提供润滑作用。其中产业链各个环节具体上市公司包括： | 产业链环节 | 企业简称 | 简介 | 行业关联度 | | --- | --- | --- | --- | | 原油/石油供应 | 中曼石油 | 一家专注于石油、天然气领域的国际知名 综合性油气公司 | ★★★★★ | | | 泰山石油 | 中国石化子公司 | ★★★★ | | | 和顺石油 | 成品油批发资质的民营石油企业公司 ...

转自：前瞻产业研究院 行业主要上市公司：中国石油(601857);中国石化(600028);康普顿(603798);龙蟠科技(603906);中晟高科 (002778);统一股份(600506)等 本文核心数据：中国润滑油进出口金额;中国润滑油进出口量;中国润滑油进出口均价 1、润滑油行业进出口总况 润滑油相关的海关编码为"润滑油，不含有生物柴油"，HS编号是"27101991"。 近年来中国润滑油行业进出口情况逐年增长，中国润滑油行业下游相关产业的迅速发展，对于润滑油的 需求量越来越大，行业进出口额持续稳定增长。 海关数据显示，2024年中国润滑油行业产品进出口总额14.17亿美元，同比上升5.73%，反映润滑油进出 口规模逐渐扩大，其中进口额9.04亿美元，同比上升1.44%;出口额为5.13亿美元，同比上升14.36%。贸 易逆差为3.91亿美元，同比下降11.54%，反映中国对润滑油需求依赖进口支持，但近两年来依赖程度有 所减缓。 2025年前两个月，中国润滑油行业产品进出口总额2.15亿美元，贸易逆差为0.55亿美元。 2、润滑油进口情况 2019-2024年，中国润滑油进口金额整体呈现波动增长趋势 ...