南财智讯2月4日电，恒逸石化在投资者关系活动中表示，文莱一期项目所需原油部分来源于文莱本国， 其余部分从中东、北非等原油国采购，采购来源多元化，公司会根据生产经营情况灵活安排原油采购计 划。 ...

| | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系 | 媒体采访 业绩说明会 | | 活动类别 | 新闻发布会 路演活动 | | | 现场参观 | | 其他 | （请文字说明其他活动内容） | | 参与单位名称 | 中信建投证券、易方达基金、华福证券、平安证券（以上排 | | 及人员姓名 | 名不分先后） | | 时间 2026 | 年 2 月 4 日，9：30—14：30 | | 地点 | 公司会议室 | | 上 市 公 司 接 待 | 董事会办公室主任：张开元 | | 人员姓名 | 投资者关系：王诗云 | | | 一、公司基本经营概况 | | | 恒逸石化（股票代码：000703.SZ）作为全球领先的"炼 | | | 油—化工—化纤"全产业链一体化龙头企业，始终秉持"一 | | | 滴油，两根丝"的战略定位，通过文莱炼化项目的前瞻性布 | | | 局，成功打通从原油加工到化纤产品的全产业链闭环，构建 | | | 起国内独有的"涤纶+锦纶"双主业驱动模式。依托"文莱 | | 投 资 者 关 系 活 | 炼化基地—国内聚酯产业"的境内外协同联动优势，公司已 | | ...

Market Performance - The refining and trading sector increased by 1.37% compared to the previous trading day, with Runbei Hangke leading the gains [1] - The Shanghai Composite Index closed at 4102.2, up 0.85%, while the Shenzhen Component Index closed at 14156.27, up 0.21% [1] Key Stocks in Refining and Trading Sector - Runbei Hangke (001316) closed at 60.28, up 7.01% with a trading volume of 125,000 shares and a transaction value of 761 million [1] - Guanghui Energy (600256) closed at 5.63, up 4.26% with a trading volume of 2.26 million shares and a transaction value of 1.26 billion [1] - Maohua Shihua (000637) closed at 4.77, up 3.70% with a trading volume of 188,700 shares [1] - Other notable stocks include Guochuang Gaoxin (002377) at 3.37 (+3.69%), Taishan Petroleum (000554) at 8.01 (+3.35%), and Sinopec (600028) at 6.50 (+3.17%) [1] Capital Flow Analysis - The refining and trading sector experienced a net outflow of 74.39 million from institutional investors and 86.51 million from speculative funds, while retail investors saw a net inflow of 161 million [2] - Key stocks with significant capital inflow include Guanghui Energy with a net inflow of 77.18 million from institutional investors [3] - Other stocks with notable capital movements include China Petroleum (601857) with a net inflow of 34.62 million and Guochuang Gaoxin (002377) with a net inflow of 16.97 million [3]

Core Viewpoint - The chemical industry ETF managed by E Fund has shown positive performance, with significant inflows and growth in both scale and shares, reflecting strong investor interest in the sector [1][2]. Group 1: Index Performance - As of February 4, 2026, the China Petroleum Industry Index (H11057) increased by 0.41%, with key stocks like Sinopec rising by 3.17% and Wanhua Chemical by 3.09% [1]. - Over the past two weeks, the E Fund chemical industry ETF has accumulated a rise of 0.55%, ranking in the top half among comparable funds [1]. Group 2: Liquidity and Trading Volume - The E Fund chemical industry ETF had a turnover rate of 3.05% during the trading session, with a transaction volume of 48.77 million yuan [1]. - The average daily trading volume over the past week reached 160 million yuan [1]. Group 3: Fund Size and Shares - The latest size of the E Fund chemical industry ETF reached 1.595 billion yuan, marking a one-year high [1]. - The total shares of the ETF have also reached 1.466 billion, which is a one-year high [1]. Group 4: Net Inflows - The E Fund chemical industry ETF has seen continuous net inflows for 13 days, with the highest single-day net inflow reaching 391 million yuan, totaling 1.371 billion yuan in net inflows [1]. - The average daily net inflow stands at 105 million yuan [1]. Group 5: Top Holdings - As of January 30, 2026, the top ten weighted stocks in the China Petroleum Industry Index account for 55.71% of the index, including companies like Wanhua Chemical and Sinopec [2].

格隆汇2月3日丨恒逸石化(000703.SZ)公布，2025年12月15日至2026年2月2日，恒逸集团通过深圳证券 交易所交易系统增持公司股份143,252,785股，占公司总股本（未剔除公司回购专用账户中的股份数量， 如未作特别说明，下同）的3.98%，增持金额为119,982.80万元（不含手续费）；恒逸投资通过深圳证 券交易所交易系统增持公司股份135,810,361股，占公司总股本的3.77%，增持金额为119,988.87万元 （不含手续费）；恒逸集团及其一致行动人恒逸投资累计增持公司股份279,063,146股，占公司总股本的 7.75%，累计增持金额为239,971.67万元（不含手续费），恒逸集团及其一致行动人恒逸投资合计持股 比例从50.28%增加至58.02%，本次增持计划已实施完成。 ...

格隆汇2月3日丨恒逸石化(000703.SZ)公布，2025年12月15日至2026年2月2日，恒逸集团通过深圳证券 交易所交易系统增持公司股份143,252,785股，占公司总股本（未剔除公司回购专用账户中的股份数量， 如未作特别说明，下同）的3.98%，增持金额为119,982.80万元（不含手续费）；恒逸投资通过深圳证 券交易所交易系统增持公司股份135,810,361股，占公司总股本的3.77%，增持金额为119,988.87万元 （不含手续费）；恒逸集团及其一致行动人恒逸投资累计增持公司股份279,063,146股，占公司总股本的 7.75%，累计增持金额为239,971.67万元（不含手续费），恒逸集团及其一致行动人恒逸投资合计持股 比例从50.28%增加至58.02%，本次增持计划已实施完成。 ...

证券代码：000703 证券简称：恒逸石化 公告编号：2026-021 恒逸石化股份有限公司 关于控股股东增持股份计划实施结果 暨权益变动触及1%整数倍的提示性公告 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。 重要内容提示： 增持计划内容：自 2025 年 12 月 2 日起的 6 个月内，公司控股股东浙江恒逸 集团有限公司（以下简称"恒逸集团"）及其一致行动人杭州恒逸投资有限公司 （以下简称"恒逸投资"）拟以自有资金及股份增持专项贷款，通过深圳证券交 易所交易系统，以集中竞价、大宗交易及协议转让方式增持公司股份。增持股份 金额不低于（含）150,000 万元，不高于（含）250,000 万元，增持价格区间为不 超过 15 元/股。 增持计划实施情况：2025 年 12 月 15 日至 2026 年 2 月 2 日，恒逸集团通过 深圳证券交易所交易系统增持公司股份 143,252,785 股，占公司总股本（未剔除 公司回购专用账户中的股份数量，如未作特别说明，下同）的 3.98%，增持金额 为 119,982.80 万元（不含手续费）；恒逸投资通过深圳证券 ...

浙江天册律师事务所 关于 恒逸石化股份有限公司 控股股东及其一致行动人增持公司股份之 法律意见书 浙江省杭州市杭大路 1 号黄龙世纪广场 A 座 11 楼 310007 电话：0571-87901111 传真：0571-87901500 法律意见书 第一部分 声明事项 本所及经办律师依据《证券法》《律师事务所从事证券法律业务管理办法》 和《律师事务所证券法律业务执业规则（试行）》等规定及本法律意见书出具日 以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责和诚实信 用原则，进行了充分的核查验证，保证本法律意见书所认定的事实真实、准确、 完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大 遗漏，并承担相应法律责任。 为出具本法律意见书之目的，本所律师依据中国（为本法律意见书之目的不 包括中国港澳台地区）有关的法律、法规和规范性文件，对涉及增持人本次增持 股份有关的事实和法律事项进行了核查和验证。在核查和验证过程中，本所律师 向增持人及公司提出了应向本所律师提供的资料清单，并得到了增持人及公司依 1 浙江天册律师事务所 关于恒逸石化股份有限公司控股股东及其一致行动人 增持公司股份之 ...

Market Overview - The refining and trading sector experienced a decline of 0.77% on February 3, with ST Shenhua leading the drop [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Stock Performance - Notable gainers in the refining and trading sector included: - Runbei Hangke (001316) with a closing price of 56.33, up 10.00% [1] - Heshun Petroleum (603353) at 38.65, up 5.83% [1] - Tongkun Co. (601233) at 20.99, up 4.48% [1] - Conversely, ST Shenhua (000698) saw a decline of 3.04%, closing at 3.83 [2] Trading Volume and Capital Flow - The total trading volume for the refining and trading sector showed a net outflow of 79.01 million yuan from main funds, with retail investors contributing a net inflow of 244 million yuan [2] - The capital flow for individual stocks indicated that: - Guanghui Energy (600256) had a net inflow of 48.13 million yuan from main funds [3] - China Petroleum (601857) recorded a net inflow of 45.05 million yuan from main funds [3] - Runbei Hangke (001316) had a net inflow of 46.34 million yuan from main funds [3]

Summary of Key Points from Conference Call Records Industry Overview - The chemical industry is expected to experience a significant decline in new supply in 2026 and 2027, leading to an upward cycle due to price synergy effects and the exit of overseas capacity [1][2] - The tightening of national carbon emission targets will impact the approval of oil and infrastructure projects, pushing chemical companies towards green transformation [1][7] Core Insights and Arguments - Major chemical companies have made substantial fixed asset investments during the 14th Five-Year Plan, which are expected to translate into profits in the coming years, with some companies potentially having P/E ratios as low as 3-4 times [1][5] - The PX market is operating at high capacity utilization, with expected profits around 1,000 CNY/ton being sustainable due to the rapid digestion of new capacity [1][9] - The olefin market is projected to improve long-term, supported by national policies, with an expected upward cycle from 2027 to 2029 [1][11] Company-Specific Insights Wanhua Chemical - Fixed assets and construction projects have significantly increased, with potential profits at the bottom of the cycle estimated at 15-16 billion CNY, and central profit levels reaching around 30 billion CNY [3][20] - The company’s market cap corresponds to a P/E ratio of 8-9 times, indicating substantial profit potential as the cycle rebounds [20] Longbai Group - Fixed assets have grown significantly, with potential profits estimated at 12 billion CNY based on historical averages [21][22] - The company’s market cap corresponds to a P/E ratio of around 9 times, suggesting a favorable valuation [22] Rongsheng Petrochemical - Fixed asset investments have been significantly higher than those of Hengli Petrochemical, with potential peak profits estimated between 20 billion to 30 billion CNY [23][24] - Future profitability will depend on the market conditions for ethylene and its downstream products [24] Hengli Petrochemical - The company is seen as stable and a key indicator of product reversals, with significant overseas expansion potential [14][13] - Expected profits could reach 60-70 billion CNY if current favorable conditions persist [13] Shenghong Petrochemical - The company has not fully benefited from industry conditions but has significant upside potential, with expected profits from new energy sectors [12] Other Important Insights - The chemical industry is currently characterized by a shorter duration from the bottom of the down cycle to the upturn, aided by price synergy effects and high industry concentration [4] - The large refining industry is at the tail end of its capacity cycle, with cash flow expected to improve significantly [8] - The agricultural chemicals sector faces oversupply issues, with key signals from agricultural product prices [28] Market Trends and Future Outlook - The oil market is expected to improve in the second half of 2026, with prices potentially fluctuating between 70-80 USD per barrel [15][16] - OPEC is likely to maintain production levels, indicating a slow growth cycle for oil supply, which could stabilize prices [17] - The refrigerant market is expected to see price increases, although the rate of increase may slow down [33][34] This summary encapsulates the key points from the conference call records, highlighting the chemical industry's dynamics, company-specific insights, and broader market trends.