本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 证券代码：000617 证券简称：中油资本 公告编号：2026-003 中国石油集团资本股份有限公司 关于收购英大期货100%股权进展的公告 中国石油集团资本股份有限公司 董事会 2026 年 1 月 29 日 - 1 - 2025 年 12 月 26 日，中国石油集团资本股份有限公司（以下简称公 司）召开第十届董事会第二十一次会议，审议通过了《关于收购英大期货 100%股权的议案》，公司全资子公司中国石油集团资本有限责任公司（以 下简称中油资本有限）拟以人民币 1,129,286,232.00 元的价格，收购英大 证券有限责任公司持有的英大期货有限公司（以下简称英大期货）100% 股权（以下简称本次交易）。详见公司于 2025 年 12 月 27 日披露的《关 于收购英大期货 100%股权的公告》（公告编号：2025-044）。 近日公司接到通知，本次交易已取得国务院国有资产监督管理委员会 的批准。 中油资本有限作为英大期货控股股东的资格尚需获得中国证券监督 管理委员会的核准，本次交易最终能否成功实施尚存在不确 ...

Core Viewpoint - The company, Zhongyou Capital, announced its intention to acquire 100% equity of Yingda Futures for 1.129 billion yuan, pending approval from the China Securities Regulatory Commission [1] Group 1 - Zhongyou Capital's wholly-owned subsidiary plans to acquire Yingda Futures [1] - The transaction has received approval from the State-owned Assets Supervision and Administration Commission of the State Council [1] - The qualification of Zhongyou Capital as the controlling shareholder of Yingda Futures still requires approval from the China Securities Regulatory Commission, introducing uncertainty regarding the successful implementation of the transaction [1]

中油资本公告称，2025年12月26日，控股股东中国石油集团与国网英大集团签署股份划转协议，拟将其 持有的公司379,262,372股A股股份（占总股本3.00%）划转给国网英大集团，本次划转不导致公司控股 股东及实际控制人变更。近日，该划转已获国务院国资委批准，尚需办理股份过户登记手续，公司将按 进展披露信息。 ...

Group 1 - The State Administration for Market Regulation (SAMR) emphasizes the importance of mergers and acquisitions as a means for operators to achieve resource integration and market clearing, particularly in sectors facing "involution" competition such as automotive, photovoltaic, and lithium battery industries [1] - In 2025, SAMR concluded 129 cases related to operator concentration, focusing on promoting technological collaboration, optimizing capacity layout, and revitalizing idle capacity [2] - A notable case involved China National Petroleum Corporation and Contemporary Amperex Technology Co., Ltd. establishing a joint venture for lithium battery energy storage systems, which was approved without conditions, highlighting the potential for industry collaboration to escape homogeneous competition [2] Group 2 - SAMR is committed to addressing unfair competition in the online market, with a focus on sectors like live e-commerce, pharmaceuticals for the elderly, and automotive platforms, and has initiated a special action to combat various forms of online unfair competition [3] - In 2025, a total of 1,932 cases of online unfair competition were investigated, resulting in fines totaling 71.5294 million yuan [3] - The regulatory body is enhancing monitoring of online unfair competition through digital platforms and encouraging local departments to utilize big data for more effective enforcement [3] Group 3 - SAMR plans to implement the new Anti-Unfair Competition Law rigorously, aiming to combat various forms of unfair competition and maintain consumer rights while fostering a fair market environment [4]

Core Viewpoint - The State Administration for Market Regulation (SAMR) is intensifying efforts to combat "involution" in competition by announcing ten major cases that highlight its commitment to maintaining fair market order and addressing various forms of unfair competition [2][4]. Group 1: Overview of Major Cases - The ten major cases cover a wide range of sectors, from traditional manufacturing to platform economies, and involve various stages from product manufacturing to certification services [4]. - The cases aim to demonstrate the effectiveness of enforcement actions and to guide industries towards healthy and sustainable development [4]. Group 2: Specific Cases - Case 1: "Putian Comes" chain enterprise was penalized for infringing trademark rights, dismantling a large-scale counterfeit network to curb low-price malicious competition [5]. - Case 2: Shenzhen Romoss Technology Co., Ltd. was fined for violating mandatory product certification regulations and false advertising, sending a clear regulatory signal for industry health [5]. - Case 3: A monopoly agreement involving four companies in the sodium dexamethasone raw material market resulted in a total fine of 362 million yuan, enhancing antitrust enforcement [5]. - Case 4: The merger between China Petroleum Group and CATL was approved to promote innovation and escape homogeneous competition [5]. - Case 5: Shanxi Laoge Trading Co., Ltd. faced penalties for false advertising and price fraud through live streaming, with fines totaling 5.6 million yuan [5]. Group 3: Regulatory Focus and Future Actions - The SAMR emphasizes a "zero tolerance" approach towards infringement, quality violations, and monopoly agreements, showcasing strong regulatory constraints [7]. - Future actions will focus on maintaining high-pressure enforcement, improving long-term regulatory mechanisms, and promoting a market order characterized by quality and fair pricing [7][29]. - The SAMR will continue to address the complexities of "involution" in various industries, aiming for targeted governance and effective law enforcement [7].

Core Insights - The State Administration for Market Regulation (SAMR) has highlighted the positive role of merger reviews in addressing "involution" competition, with a focus on key sectors like automotive, photovoltaic, and lithium batteries [1] Group 1: Regulatory Actions - In 2025, SAMR concluded 129 cases related to merger reviews in sectors facing "involution" competition, supporting companies in revitalizing idle assets and enhancing operational efficiency [1] - The review process emphasized "fast review without quality reduction, strict review without increased burden," ensuring effective oversight while facilitating corporate mergers and acquisitions [1] Group 2: Case Study - A notable case involved the establishment of a joint venture between China National Petroleum Corporation's Jichai Power and Contemporary Amperex Technology Co., Ltd., focusing on lithium battery energy storage systems [2] - The joint venture aims to meet specific energy storage needs within the oilfield sector, promoting a collaborative approach to innovation and technology based on demand [2] - SAMR approved the merger unconditionally in July 2025, recognizing its potential to enhance industry chain collaboration and serve as a model for escaping homogeneous competition [2]

Group 1 - The trust concept sector declined by 1.09%, ranking among the top declines in concept sectors, with companies like Huaguang Huaneng, Delong Huineng, and Maoye Commercial experiencing significant drops [1][2] - Among the trust concept stocks, three companies saw price increases, with Hongda Co., New Huangpu, and Jianyuan Trust rising by 1.80%, 1.10%, and 0.34% respectively [1][2] - The trust concept sector experienced a net outflow of 381 million yuan, with 17 stocks facing net outflows, and six stocks seeing outflows exceeding 30 million yuan [2][3] Group 2 - The top net outflow stock was Zhongyou Capital, with a net outflow of 105 million yuan, followed by Guowang Yingda and Huaguang Huaneng with net outflows of 89.28 million yuan and 68.60 million yuan respectively [2][3] - The leading stocks for net inflow in the trust concept sector included Hongda Co., Guotou Investment, and Zhejiang Dongfang, with net inflows of 45.47 million yuan, 18.86 million yuan, and 13.57 million yuan respectively [2][3] - The trading volume for Zhongyou Capital was 0.60%, while Guowang Yingda had a trading volume of 1.29%, indicating varying levels of investor activity within the sector [3]

Core Viewpoint - 中油资本's stock price has experienced fluctuations, with a recent decline of 2.10% and a total market capitalization of 1179.51 billion yuan, indicating a mixed performance in the financial market [1]. Group 1: Stock Performance - As of January 20, 中油资本's stock price is reported at 9.33 yuan per share, with a trading volume of 5.27 billion yuan and a turnover rate of 0.44% [1]. - Year-to-date, 中油资本's stock has decreased by 2.25%, with a 3.01% drop over the last five trading days, a 3.27% increase over the last 20 days, and a 9.64% decline over the last 60 days [1]. Group 2: Financial Performance - For the period from January to September 2025, 中油资本 achieved an operating income of 6.82 billion yuan, reflecting a year-on-year growth of 13.94%. However, the net profit attributable to shareholders decreased by 7.95% to 39.97 billion yuan [2]. Group 3: Shareholder Information - As of September 30, 2025, 中油资本 has 241,700 shareholders, an increase of 15.66% from the previous period, with an average of 52,296 circulating shares per shareholder, down by 13.54% [2]. - The company has distributed a total of 158.10 billion yuan in dividends since its A-share listing, with 51.33 billion yuan distributed over the past three years [3]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited holds 89.78 million shares, a decrease of 5.82 million shares from the previous period [3].

| | | | | 资产负债表 2025年12月31日 | | | 金额单位:元 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 期末余额 | 年初余额 | 负债和所有者权益 | 序号 | 期末余额 | 年初余额 | | 资产 | | | | 负债: | 26 | | | | 将市份 | | 58.742.682.88 | 87.659.354.67 | 向中央银行借款 | 27 | | | | 贵令属 0212103 | | | | 同业及其他金融机构存放款项 | 28 | | | | 拆出资金 | 4 | | | 拆入资金 | 29 | | | | 交易性金融资产 | 5 | 6,731,605,867.6 | 5.515.827.618.87 | 交易性金融负债 | 30 | | | | 衍生余融资产 | 6 | | | 衍生金融负债 | 31 | | | | 买入返售金融资产 | 7 | 5.400.013.50 | 110.756.055.38 | 卖出回购金融资产款 | 32 | | | | 发放贷款和垫款 | 8 | | | 应 ...

| 资产负债表 2025年12月31日 金额单位:儿 行次 年初余额 期末余額 行次 年初余额 期末余额 负债及权益 - - | | | | --- | --- | --- | | 114 8 C () 应付票据 有生金融资产 166, 795, 368, 27 0 O 应付账款 115 212, 015, 000, 00 应收紧据 9 116 20, 237, 938, 96 86, 515, 103, 21 10 () 0 其他应付款 应收股利 0 0 () 内部存入款 117 应收利息 11 短期负息资金 118 () () | | | | 一年内到期的相览负 136 25, 035, 938, 30 2, 173, 423, 41 碱:存货跌价准备 30 0 0 一生内到期的应付低 0 0 0 0 137 存货净额 31 0 一生内到期的长谢区 138 0 () 合同资产 32 0 229, 850, 319, 06 减:合同资产减值准备 33 0 0 其他流动负债 139 168, 582, 417, 31 () 0 其中:应付短期债券 140 0 0 合同资产净额 34 | | | | 143 - ...