Xin Lang Cai Jing·2026-01-12 10:23Core Viewpoint - China National Petroleum Corporation (CNPC) shows a mixed performance in financing activities, with low financing balance relative to market value and high short-selling activity, indicating potential investor caution and market volatility [1][2][3] Financing Activities - On January 9, CNPC's financing buy-in amounted to 211 million yuan, while financing repayment was 134 million yuan, resulting in a net financing buy of approximately 77.4 million yuan [1] - As of January 9, the total financing and securities balance for CNPC was 1.847 billion yuan, with a financing balance of 1.829 billion yuan, representing 0.11% of the circulating market value, which is below the 10th percentile level over the past year [1] - CNPC's short-selling activities included a repayment of 108,600 shares and a sale of 102,900 shares, with a selling amount of approximately 1.016 million yuan, while the short-selling balance was 17.6416 million yuan, exceeding the 50th percentile level over the past year [1] Company Overview - CNPC, established on November 5, 1999, and listed on November 5, 2007, is headquartered in Beijing and engages in oil and gas exploration, production, refining, and sales, as well as new energy and chemical products [2] - The revenue composition of CNPC includes refining products (69.64%), crude oil (43.27%), natural gas (39.98%), chemical products (8.78%), and other sales [2] - As of September 30, 2025, CNPC reported a total revenue of 2.169256 trillion yuan, a year-on-year decrease of 3.86%, and a net profit attributable to shareholders of 126.279 billion yuan, down 4.71% year-on-year [2] Dividend and Shareholder Information - CNPC has distributed a total of 875.28 billion yuan in dividends since its A-share listing, with 247.08 billion yuan distributed over the past three years [3] - As of September 30, 2025, the number of CNPC shareholders was 503,900, an increase of 4.46% from the previous period, while the average circulating shares per person decreased by 4.33% to 324,618 shares [2][3] - Major shareholders include China Securities Finance Corporation, holding 1.02 billion shares, and Hong Kong Central Clearing Limited, holding 521 million shares, with the latter seeing a decrease of 336 million shares compared to the previous period [3]