// 市场要闻 // 国有大行重磅官宣。 3月30日下午，中国银行、中国建设银行、交通银行发布公告称，董事会通过 了向特定对象发行A股股票条件的议案。其中，建设银行拟引入财政部战略投资，募资总额不超过 人民币1050亿元。交通银行拟定增募资不超过1200亿元，发行对象为财政部、中国烟草和双维投 资，其中财政部拟认购金额为1124.2亿元。募资均用于补充核心一级资本。中国银行拟向特定对象 发行A股股票，募集资金总额不超过1650亿元。 社保基金重仓这些股票。 随着上市公司年报密集披露，作为长线资金代表的社保基金 2024 年末重 仓股及持股变动情况浮出水面。 Wind数据显示，截至3月28日，已有938家上市公司披露了2024年年报，其中有133家上市公司（包含2 家未披露年报但已披露2024年末十大流通股东上市公司）的前十大流通股东中出现了社保基金的身影。 2024年四季度，社保基金新进29只个股的前十大流通股东序列，同时对40只个股的持股数量增加。 自由现金流 ETF 近期成为基金行业的一大焦点。 在挖掘基金重仓股上只看净利润不看现金流的策 略，使得许多基金经理在过去三年间积累了大量有关忽视自由现金流的"苦 ...

重要公告： 恒瑞医药：2024年净利润同比增长47.28% 拟10派2元 中国石油：2024年净利润同比增长2% 拟10派2.5元 西子洁能：2024年净利润同比增长706% 拟每10股派2元 华大九天：拟收购芯和半导体100%股份 圣诺生物：一季度净利预增137.97%—190.85% 沪市重要公告： 恒瑞医药：2024年净利润同比增长47.28% 拟10派2元 恒瑞医药（600276）3月30日晚间发布年报，公司2024年净利润63.37亿元，同比增长47.28%。拟向全体 股东按每10股派发现金股利2.00元（含税）。 中国石油：2024年净利润同比增长2% 拟10派2.5元 中国石油（601857）3月30日晚间发布2024年年报，2024年营业收入2.94万亿元，同比减少2.5%；归属 于母公司所有者的净利润1646.84亿元，同比增长2%，再创历史新高；基本每股收益0.9元。拟向全体股 东派发2024年末期股息每股0.25元（含适用税项）的现金红利。2024年，集团原油平均实现价格74.70美 元/桶，比上年同期的76.60美元/桶下降2.5%。 建设银行：拟向财政部发行A股引入战略投资 募资总额 ...

Group 1: Financial Performance - Heng Rui Pharmaceutical reported a net profit of 6.337 billion yuan for 2024, a year-on-year increase of 47.28% and proposed a cash dividend of 2.00 yuan per 10 shares [1] - China National Petroleum Corporation achieved a net profit of 164.684 billion yuan in 2024, a 2% increase year-on-year, with a revenue of 2.94 trillion yuan, down 2.5% [1] - Sanofi Biologics expects a net profit of 39.1985 million to 47.9092 million yuan for Q1 2025, representing a year-on-year increase of 137.97% to 190.85% [3] - Wide Great Materials anticipates a net profit of approximately 75 million yuan for Q1 2025, a year-on-year increase of about 1504.79% [5] - Pu Ran Co. reported a revenue of 1.804 billion yuan for 2024, a 60.03% increase year-on-year, and a net profit of 292 million yuan, turning from loss to profit [6] - Xi Zi Clean Energy achieved a net profit of 440 million yuan in 2024, a 705.74% increase year-on-year, despite a revenue decline of 20.33% [10] - Ansteel Group reported a net loss of 7.122 billion yuan for 2024, compared to a loss of 3.255 billion yuan the previous year [12] Group 2: Corporate Actions - China Construction Bank plans to issue A-shares to introduce strategic investment from the Ministry of Finance, with a total fundraising amount not exceeding 105 billion yuan [2] - Postal Savings Bank intends to issue A-shares to the Ministry of Finance, China Mobile Group, and China Shipbuilding Group, raising a total of 130 billion yuan for core tier one capital [7] - Bank of China signed a conditional share subscription agreement with the Ministry of Finance for a total of 165 billion yuan, with a subscription price of 6.05 yuan per share [8] - Huada Jiutian plans to acquire 100% of Chip and Semiconductor through a combination of share issuance and cash payment, enhancing its capabilities in EDA solutions [9] - China Aviation Industry Finance announced the voluntary termination of its stock listing, with shares resuming trading on March 31, 2025 [4]

为此，纯梁采油厂勘探技术人员加强与油田科研院所的合作力度，创新提出油气"倒灌成藏"模式， 明确三大主控因素，形成了相控约束下的孔店组优质储层预测方法，高斜862井顺利压裂投产。经过持 续的攻关研究，该厂先后在这个区部署探井10口，为在博兴洼陷深层孔店组取得更大突破奠定基础。 "立足滚动单元划分、多项技术深度融合，是滚动扩边的重要思维方式。"纯梁采油厂开发地质专家 周明军说，高46块属于地层不整合油藏，但地震资料分辨率低、直井少储层落实程度低等问题，限制了 区块孔店组向西扩边。 本报3月24日讯(大众新闻记者顾松通讯员刘赛军)高斜862井压裂投产日产油15.8吨、高46—平10井 热采投产日产油10.1吨、纯56侧斜32井常规投产日产油10.7吨……近日，胜利油田纯梁采油厂正理庄深 层、高青不整合稠油和梁家楼简单断块油藏等区域的多口井实现高产，进一步拓展了纯梁油区资源阵 地。 经过多年高效勘探开发，纯梁采油厂勘探难度越来越大，但勘探面积大、含油层系多、采出程度 低，是进一步谋求更大发展的有利因素。 在充分考虑勘探开发实际的基础下，纯梁采油厂地质研究所技术人员积极应对滚动评价目标零散、 未动用储量品位下降的态势， ...

Core Viewpoint - The article discusses the recent trends in CPI and PPI, highlighting a significant decline in February 2025, with CPI at -0.7% and PPI at -2.2%, indicating a notable pullback after a previous recovery [1][4][5]. Group 1: CPI and PPI Trends - February 2025 CPI decreased by 0.7% year-on-year, lower than the previous value of 0.5%, while PPI was -2.2%, slightly better than the prior -2.3% [5]. - The simulated deflation index, based on the weighted contributions of CPI and PPI, was approximately -1.3%, marking a significant retreat from the recovery seen since October 2024 [4][5]. - The decline in CPI was primarily influenced by a seasonal effect related to the timing of the Spring Festival, which affected food prices and overall inflation metrics [6][7]. Group 2: Factors Influencing CPI - The Spring Festival's timing caused a high base effect, leading to a significant drop in CPI; without this effect, CPI would have shown a slight increase of 0.1% [6][7]. - The prices of fuel and new energy vehicles fell by 5.0% and 6.0% respectively, contributing approximately 0.16 percentage points to the CPI decline [7]. - Historical data indicates that the transportation component of CPI has consistently shown negative year-on-year growth, with a notable increase in the rate of decline since 2023 [7][8]. Group 3: PPI Structural Analysis - PPI showed a mixed performance across sectors, with oil extraction and non-ferrous metallurgy experiencing month-on-month increases, while sectors like black metallurgy and coal mining saw declines [8]. - New industry products, such as photovoltaic equipment and semiconductor materials, experienced year-on-year price drops of 13.0% and 9.7% respectively, continuing to exert downward pressure on overall prices [8]. Group 4: Future Outlook and Policy Signals - The low base effect in March 2025 is expected to provide some relief, with preliminary estimates suggesting a CPI increase of 0.1% and a PPI decrease of -2.2% [9]. - The government has signaled a commitment to addressing low price levels, with a target inflation rate set at around 2%, indicating a proactive policy approach to stimulate moderate price increases [10][11]. - Proposed measures include enhancing macroeconomic policy adjustments, boosting consumption, and stabilizing the real estate and stock markets to foster a positive economic environment [11].

Group 1: CPI Analysis - The CPI year-on-year growth rate decreased to -0.7% in February, down 1.2 percentage points from the previous month, primarily due to the impact of the Spring Festival timing [1][4] - Excluding the Spring Festival effect, the CPI year-on-year increased by 0.1% in February, indicating a moderate recovery in prices [1][4] - Food prices contributed over 80% to the total decline in CPI, with fresh vegetable prices dropping by 12.6% year-on-year [5][6] Group 2: PPI Analysis - The PPI year-on-year decline narrowed to 2.2% in February, with the average for January-February also showing a 2.2% decrease compared to the previous year [2][7] - The main reasons for the PPI decline include the off-peak industrial production season and weak demand for construction materials [2][7] - The prices of production materials fell by 2.5%, while living materials prices decreased by 1.2%, with specific industries like coal processing seeing significant price drops [7][8] Group 3: Market Sentiment and Future Outlook - The PMI data indicated an increase in raw material and finished product price indices, but the PPI only slightly narrowed, suggesting a discrepancy between perceived and actual market conditions [3] - The current policy uncertainty may lead to a cautious approach from enterprises, affecting production enthusiasm [3] - Positive signals from the upcoming Two Sessions may help restore market demand and improve production and demand dynamics [3]

Core Viewpoint - The article emphasizes that all stocks in the A-share market have experienced significant upward trends since their listing, suggesting that successful stock investment relies on two main strategies: buying at low prices and holding onto the investment for a long time [1]. Group 1: Investment Strategies - The article suggests that the current focus is on technology stocks, particularly those related to AI, and anticipates that the next investment opportunity may arise from inflation and resource stocks [1]. - It advocates for identifying small-cap resource stocks that are unlikely to be delisted, preferably state-owned, with significant debt issues and undervalued resource prices, positing that holding these stocks for five years could yield substantial returns [1]. Group 2: Stock Selection Criteria - The article outlines specific criteria for selecting resource stocks, including being state-owned, having a market capitalization generally below 5 billion, and facing high debt pressure but with low delisting risk [4][5]. - It highlights the importance of resource value, indicating that companies should possess scarce resources like rare earths or lithium, especially when current resource prices are low or not reflective of their true value [6]. Group 3: Potential Stock Candidates - The article lists potential stock candidates, including: - Yunmei Energy (600792), with a market cap of approximately 4 billion, focusing on coking coal production [7][8]. - Luoping Zinc & Electricity (002114), with a market cap of about 2.5 billion, involved in zinc smelting and hydropower generation [11][12]. - Tibet Mining (000762), with a market cap of around 10 billion, engaged in lithium and chromium mining [14][15]. - Hainan Mining (601969), with a market cap of about 12 billion, involved in iron ore and oil and gas [17][18].

证券代码：300191 证券简称：潜能恒信 公告编号：2025-009 潜能恒信能源技术股份有限公司 关于合作投资涠洲 5-3 油田开发项目的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要内容提示： 1、投资项目名称：涠洲 5-3 油田开发项目（以下简称 "本项目"）； 石油合同签署后，智慧石油作为 22/04 区块作业者，充分利用母公司潜能恒 信的先进找油技术，开展一系列三维地震处理解释一体化和地震地质工程一体化 研究工作，明确了合同区流沙港组和石炭系等多个含油气层系。按照"整体部署、 分步探明、分期开发、快速建产"的滚动勘探开发一体化思路，智慧石油在涠洲 5-3 构造部署钻探了两口初探井 WZ5-3-1 井、WZ5-3E-1 井及评价井 WZ5-3E-2 井， 在石炭系碳酸盐岩和流沙港组砂岩地层均获得重要勘探突破，成功发现涠洲 5-3 油田。 根据勘探成果提供的 3 口探井资料，智慧石油积极与中国海油相关单位联合 开展储量估算和申报及涠洲 5-3 油田开发方案编制等研究工作。根据中国海油最 终出具的《涠洲 5-3 油田 WZ5-3E-1 井区、 ...

潜能恒信能源技术股份有限公司 证券代码：300191 证券简称：潜能恒信 公告编号：2025-008 潜能恒信能源技术股份有限公司 第六届董事会第二次会议决议公告 潜能恒信能源技术股份有限公司（以下简称"公司"）第六届董事会第二次 会议于 2025 年 2 月 27 日 14：30 在公司大会议室以现场表决、通讯表决方式相 结合召开。会议通知以专人通知、电子邮件相结合等方式已于 2025 年 2 月 18 日发出。本次会议应出席董事为 7 人，出席人数为 7 人，召开符合国家有关法律、 法规和《公司章程》的有关规定。 会议由董事长周锦明先生主持。经充分讨论和审议，会议通过了如下决议： 一、审议通过《关于合作投资涠洲 5-3 油田开发项目的议案》 表决情况：出席会议的董事 7 人，7 票同意以上议案，0 票反对，0 票弃权。 《潜能恒信能源技术股份有限公司关于合作投资涠洲 5-3 油田开发项目的公 告》详见中国证监会创业板指定信息披露网站—巨潮资讯网上的相关公告。 特此公告。 潜能恒信能源技术股份有限公司 董事会 2025 年 2 月 27 日 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有 虚 ...