稳定币、跨境支付概念活跃 中油资本涨停 智通财经7月18日电，稳定币、跨境支付概念盘中局部活跃，中油资本涨停，焦点科技、凯撒旅业、浔 兴股份、青岛金王、东信和平涨幅靠前。消息面上，近日，中国工业互联网研究院举办"稳定币与工业 数字资产研讨会"，围绕稳定币政策监管、工业数字资产转化、RWA与工业互联网融合发展等核心议 题，展开交流研讨。此外协鑫科技发布公告，拟就RWA的全球发行与太保资管香港达成战略合作。 ...

Core Viewpoint - The chief economist of China National Petroleum Corporation (CNPC), Wang Zengye, emphasizes that industrial financial institutions can promote the green and low-carbon transformation of the energy industry by investing around their traditional main businesses under the "dual carbon" goals [2][3]. Group 1: Industrial Financial Support for Energy Transition - The rapid development of new energy vehicles is impacting the traditional oil sales market, prompting CNPC to adapt to the new energy industry trends to maintain its leading position [3]. - Wang Zengye suggests that entities participating in financial institutions can create a feedback loop to support their main businesses, thus driving the group's green and low-carbon transformation [3]. - CNPC's financial arm, Zhongyou Capital, is focusing on the energy and chemical industry chain, leveraging its full licensing capabilities to provide financial products and services [3]. - Zhongyou Capital plans to invest 655 million yuan in controllable nuclear fusion projects, indicating a proactive approach to future energy developments [3]. Group 2: Challenges in Global Energy Landscape - Geopolitical conflicts, economic slowdown, and climate change are pushing the energy industry into a high-risk phase, with energy prices experiencing significant volatility [5]. - The global energy trade flow is shifting from a counterclockwise to a clockwise direction, with the EU's sanctions on Russian energy exports leading to increased exports from Russia to the Asia-Pacific region [5]. - The U.S. is significantly increasing its LNG and refined oil exports to Europe, indicating a shift from global economic efficiency to regional cooperation in energy trade [5]. Group 3: Economic Impact on Energy Demand - U.S. tariff policies are affecting global trade and dragging down global oil demand growth, with international oil prices expected to drop to a range of $60 to $70 per barrel by 2025 [6]. - The International Monetary Fund predicts a decline in global economic growth to 2.8% in 2025, which will contribute to weak energy consumption [6]. Group 4: China's Energy Security - Despite high dependence on imports for oil and gas, China's overall energy self-sufficiency remains above 80%, supported by coal self-sufficiency and the utilization of clean energy sources [7]. - In 2024, China's dependence on foreign oil and gas is projected to reach 71.9% and 43.6%, respectively, highlighting the risks associated with maritime transport routes [7].

Company Performance - Kunlun Trust reported a net profit of 108 million yuan for the first half of 2025, a significant increase of over 420% compared to the same period in 2024 [2] - The company achieved operating revenue of 280 million yuan, representing a year-on-year growth of 99.0%, despite a 40.8% decline in net commission income [2] - The notable improvement in profitability is attributed to a turnaround in fair value changes, which shifted from a loss of 218 million yuan in 2024 to a gain of 78 million yuan in 2025 [2] Business Development - In the first half of 2025, Kunlun Trust added nearly 200 new trust projects, with asset management business scale increasing by over 70% year-on-year [2] - The company successfully reversed two consecutive years of losses in 2024, achieving a net profit of 22.69 million yuan and a 219% increase in operating revenue to 680 million yuan, with managed assets exceeding 340 billion yuan [2] Industry Challenges - Despite strong performance, Kunlun Trust faces challenges such as declining commission income and volatility in investment returns, reflecting pressures from industry transformation and changes in fee structures [3] - The company’s investment returns are subject to uncertainties due to market fluctuations and interest rate changes, testing its asset allocation and risk management capabilities [3] Company Background - Kunlun Trust, established in 1986 and controlled by China National Petroleum Corporation, has a registered capital of 10.2 billion yuan, positioning it among the industry leaders [3] - The company went public in February 2017, alongside other financial enterprises under China National Petroleum [3]

Core Viewpoint - China National Petroleum Corporation Capital Co., Ltd. (CNPC Capital) and Kunlun Capital are focusing on building an integrated ecosystem for industrial investment and financing, emphasizing the importance of "industrial demand" in their collaboration [1] Group 1: Industry Context - The energy industry is characterized by its complexity and extensive financial needs, requiring a variety of financing channels and tools to support systemic transformation [1] - Compared to traditional finance, industrial finance should enhance resource integration and value addition to help achieve goals such as maintaining industrial safety, driving innovation, optimizing structure, and promoting upgrades [1] Group 2: Strategic Initiatives - CNPC Capital and Kunlun Capital are committed to improving efficiency and reducing carbon emissions in the oil and gas chemical industry through capital integration, creating a "cloud ladder" for development between CNPC and invested enterprises [1] - Regular supply-demand matching lists and communication activities will be organized to strengthen business cooperation and enhance the resilience of the industrial supply chain [1] Group 3: Resource Integration - The companies are integrating research, industry, capital, and financial resources to promote deep integration of innovation, industry, and funding chains, facilitating the flow of resources across units [2] - A full lifecycle empowerment system is being constructed to assist in the incubation, transformation, and industrialization of advanced technological achievements [2] Group 4: Investment Strategy - Kunlun Capital is employing a "fund + direct investment" dual-driven model, focusing on investments in emerging industries such as new energy, new materials, green environmental protection, and high-end intelligent manufacturing [2] - The company is exploring new paths for industry development through selective investment in mature projects and identifying strategic acquisition opportunities [2] Group 5: Financial Services - CNPC Capital aims to leverage its comprehensive financial licenses and extensive service network to enrich its financial product offerings, providing tailored and competitive "one-stop" comprehensive financial services for industrial units and invested enterprises [2]

资产负债表 报表所属年度:2025年6月 记账币种:人民币 | 单 中油财务有限责任公司 | | | 2025年6月30日 | | 金额单位:元 | | --- | --- | --- | --- | --- | --- | | | | 本期余额 | 年初余额 负债和所有者权益(或股东权益) | 本期余额 | 年初余额 | | | | | 负债: | | | | 现金及存放中央银行款项 | | 11, 666, 411, 822. 00 | 14,459,251,958.14 向中央银行借款 | | | | 存放同业款项 | | 70, 851, 597, 263. 30 | 89,160,262,221.83 同业及其他金融机构存放款项 | 570, 850, 718. 81 | 508, 387, 620. 72 | | 贵金属 | 0000000 | | 拆入资金 | | 13,000, 729, 166. 67 | | 拆出资金 | | 15, 110, 467, 920. 22 | 13,993,602,087. 49 交易性金融负债 | | | | 交易性金融资产 | | 23, 372, 370 ...

证券代码：000617 证券简称：中油资本 公告编号：2025-026 中国石油集团资本股份有限公司 关于中油财务、昆仑信托、昆仑金融租赁披露 中油财务、昆仑信托、昆仑金融租赁上述资产负债表和利润表同 日在巨潮资讯网（www.cninfo.com.cn）披露。 相关财务数据未经审计，敬请广大投资者注意投资风险。 特此公告。 中国石油集团资本股份有限公司 董事会 2025 年 7 月 16 日 1 2025年半年度未经审计财务报表的自愿性信息披露公告 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。 根据中国外汇交易中心暨全国银行间同业拆借中心《关于同业拆 借市场成员披露 2025 年半年度未经审计财务报表的通知》（中汇交 发〔2025〕230 号）要求，中国石油集团资本股份有限公司持股的金 融企业中油财务有限责任公司（以下简称中油财务）、昆仑信托有限 责任公司（以下简称昆仑信托）、昆仑金融租赁有限责任公司（以下 简称昆仑金融租赁）2025 年半年度未经审计的资产负债表与利润表 将在中国货币网（http://www.chinamoney.com.cn）披露。 ...

| | | | | 资产负债表 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | 期末余额 | 年初余额 | 2025年6月30日 负债和所有者权益 | 序号 | 期末余额 | 令额单位:元 年初余额 | | 答产。 | | | | | | | | | | P | | | 负债: | 26 | | | | 货币贷全 | 2 | 113.715.263.45 | 87.659.354.67 | 向中央银行借款 | 27 | | | | 贵金属 | 3 | | | 同业及其他会融机构存放款项 | 28 | | | | 拆出资金 | 4 | | | 拆入资金 | 29 | | | | 交易性金融资产 | 5 | 5.960.769.293.82 | 5.515.827.618.87 | 交易性金融负债 | 30 | | | | 衍生金融资产 | 6 | | | 衍生余融负债 | 31 | | | | 买入返售金融资产 | 7 | 46.622.093.24 | 110.756.055.38 | 卖出回购金融资产款 | 32 | | | | ...

2025年6月 | 行次 | 金额单位:元 本月数 本年累计 上年同期 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 246, 461, 596. 74 | 1 1, 423, 417, 240. 96 1, 436, 738, 638. 22 | | | | | | | 中:营收收入 | | | | | 2 234, 776, 465. 52 1, 372, 936, 339. 74 1, 369, 390, 852. 44 | | | 11:410 5 h 2 11 2 5 4 1 1 1 1 1 2 5 4 1 1 1 2 5 4 1 1 1 2 5 4 1 1 1 2 5 8 1 1 1 1 2 5 8 1 2 1 1 2 5 8 1 1 1 1 2 5 8 1 2 1 1 2 5 4 1 1 1 1 1 1 | | | | | 3 166, 051, 821. 04 972, 839, 883. 85 1, 015, 142, 578. 82 | | | 其他业务收入 | | | | | 4 68, 724, 644. 48 40 ...

Group 1 - The A-share market indices closed mixed, with the CSI 300 Comprehensive Financial Services Index reported at 4796.68 points [1] - The CSI 300 Comprehensive Financial Services Index has increased by 29.90% over the past month, 28.63% over the past three months, and 33.67% year-to-date [1] - The CSI 300 Index samples are categorized into 11 primary industries, 35 secondary industries, over 90 tertiary industries, and more than 200 quaternary industries [1] Group 2 - The CSI 300 Comprehensive Financial Services Index has a 100.00% allocation in the Shenzhen Stock Exchange [2] - The index sample is adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with temporary adjustments made in response to changes in the CSI 300 Index samples [2]

Core Insights - The A-share financing balance has increased for five consecutive trading days, reaching 18,757.94 billion yuan, with a financing balance of 18,625.86 billion yuan [1][2] - The sectors attracting the most financing include non-bank financials, non-ferrous metals, computers, electrical equipment, and pharmaceuticals, with significant net purchases during the period [1][2] Financing Trends - As of July 11, the A-share market's financing balance was reported at 18,625.86 billion yuan, with a margin balance of 132.08 billion yuan [2] - The financing balance increased by 63.59 billion yuan, 54.88 billion yuan, 38.43 billion yuan, 47.68 billion yuan, and 20.82 billion yuan over the five days from July 7 to July 11 [2] - Among the 31 sectors, 22 experienced an increase in financing balance, with the non-bank financial sector seeing the largest increase of 35.35 billion yuan [2] Sector Performance - The non-bank financial sector and non-ferrous metals sector are highlighted for their strong performance, with the latter benefiting from rising prices and improved earnings forecasts [4] - North Rare Earth's profit forecast indicates a year-on-year increase of 1,883% to 2,015 million yuan, reflecting the sector's positive outlook [4] Individual Stock Activity - During the financing balance increase, 84 stocks saw net purchases exceeding 100 million yuan, with the top ten stocks including BYD, Zijin Mining, and Northern Rare Earth, among others [6] Market Participation - As of June 30, 2025, the number of individual investors in margin trading reached 7,479,900, an increase of 252,100 from the end of 2024 [9] - Securities firms are actively expanding their margin trading business while ensuring risk management, with strategies focusing on enhancing customer experience and developing innovative products [9]