（国家发展改革委） 国家发展改革委同时要求，中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产 和调运，确保市场稳定供应，严格执行国家价格政策。各地相关部门要加大市场监督检查力度，严厉查 处不执行国家价格政策的行为，维护正常市场秩序。 国家发展改革委12日发布，自2025年7月29日以来，国际市场油价波动运行，按现行国内成品油价格机 制测算，8月12日的前10个工作日平均价格与7月29日前10个工作日平均价格相比，同时考虑7月29日未 调价金额，累计调价金额每吨不足50元，根据《石油价格管理办法》第七条规定，本次汽、柴油价格不 作调整，未调金额纳入下次调价时累加或冲抵。 ...

2025年8月12日国内成品油价格按机制不作调整 综合：中国政府网、国家发展改革委微信 来源：河北交通广播 自2025年7月29日以来，国际市场油价波动运行，按现行国内成品油价格机制测算，8月12日的前10个工 作日平均价格与7月29日前10个工作日平均价格相比，同时考虑7月29日未调价金额，累计调价金额每吨 不足50元，根据《石油价格管理办法》第七条规定，本次汽、柴油价格不作调整，未调金额纳入下次调 价时累加或冲抵。 中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产和调运，确保市场稳定供 应，严格执行国家价格政策。各地相关部门要加大市场监督检查力度，严厉查处不执行国家价格政策的 行为，维护正常市场秩序。消费者可通过12315平台举报价格违法行为。 ...

来源：中国新闻网 据国家发展改革委消息：自2025年7月29日以来，国际市场油价波动运行，按现行国内成品油价格机制 测算，8月12日的前10个工作日平均价格与7月29日前10个工作日平均价格相比，同时考虑7月29日未调 价金额，累计调价金额每吨不足50元，根据《石油价格管理办法》第七条规定，本次汽、柴油价格不作 调整，未调金额纳入下次调价时累加或冲抵。 中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产和调运，确保市场稳定供 应，严格执行国家价格政策。各地相关部门要加大市场监督检查力度，严厉查处不执行国家价格政策的 行为，维护正常市场秩序。消费者可通过12315平台举报价格违法行为。 ...

新华财经北京8月12日电国家发展改革委12日发布，自2025年7月29日以来，国际市场油价波动运行，按 现行国内成品油价格机制测算，8月12日的前10个工作日平均价格与7月29日前10个工作日平均价格相 比，同时考虑7月29日未调价金额，累计调价金额每吨不足50元，根据《石油价格管理办法》第七条规 定，本次汽、柴油价格不作调整，未调金额纳入下次调价时累加或冲抵。 （文章来源：新华财经） 国家发展改革委同时要求，中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产 和调运，确保市场稳定供应，严格执行国家价格政策。各地相关部门要加大市场监督检查力度，严厉查 处不执行国家价格政策的行为，维护正常市场秩序。 ...

编辑 陈艳婷 中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产和调运，确保市场稳定供 应，严格执行国家价格政策。各地相关部门要加大市场监督检查力度，严厉查处不执行国家价格政策的 行为，维护正常市场秩序。消费者可通过12315平台举报价格违法行为。 新京报讯 据发改委消息，自2025年7月29日以来，国际市场油价波动运行，按现行国内成品油价格机制 测算，8月12日的前10个工作日平均价格与7月29日前10个工作日平均价格相比，同时考虑7月29日未调 价金额，累计调价金额每吨不足50元，根据《石油价格管理办法》第七条规定，本次汽、柴油价格不作 调整，未调金额纳入下次调价时累加或冲抵。 ...

2025年6月3日国内成品油价格按机制调整 根据近期国际市场油价变化情况，按照现行成品油价格形成机制，自2025年6月3日24时起，国内汽、柴油价格（标准品，下同）每吨分别 上涨65元和60元。调整后，各省（区、市）和中心城市汽、柴油最高零售价格见附表。 中石油、中石化、中海油三大公司及其他原油加工企业要组织好成品油生产和调运，确保市场稳定供应，严格执行国家价格政策。各地相 关部门要加大市场监督检查力度，严厉查处不执行国家价格政策的行为，维护正常市场秩序。消费者可通过12315平台举报价格违法行为。 附：各省区市和中心城市汽、柴油最高零售价格 附表 3、汽、柴油第六阶段标准品分别为 89 号汽油和 0 号车用柴油。 4、供国家储备、新疆生产建设兵团用符合第六阶段质量标准的汽、柴油价格分别为每 吨 7910 元和 6910 元;其它相关成品油价格政策按《石油价格管理办法》规定执行。 各省区市和中心城市汽、柴油最高零售价格 | 中国 0 | | --- | | 7LV | | 单位: | | | 汽油(标准品) | 柴油(标准品) | | --- | --- | --- | | 实行一省- 价的地区 | | | ...

Core Viewpoint - The disclosure of 2024 annual reports by listed companies has concluded, with a focus on the authenticity and quality of financial statements under regulatory scrutiny, particularly for companies in the "ST family" [1] Group 1: Financial Performance and Revenue Recognition - Seven companies from the "ST family" have responded to annual report inquiries, with a common focus on whether they have inflated revenue, their ability to continue operations, and if they meet criteria for "removal of ST status" [1] - The abnormal changes in financial indicators, particularly revenue recognition methods and completeness of revenue deductions, are central to the inquiries [2] - *ST Hengyu reported a turnaround in 2024 with revenue of 180 million yuan, recovering from a loss of 81.77 million yuan in 2023, which was impacted by military product pricing [2] Group 2: Continuous Operation Capability - The new delisting rules have raised the revenue threshold for loss-making companies from 100 million yuan to 300 million yuan, emphasizing the assessment of continuous operation capability [4] - *ST Tianbang received an audit report with a significant uncertainty regarding its ability to continue operations, highlighting a debt ratio of 72.58% and current liabilities exceeding current assets [4][5] - *ST Shandong Molong, which had negative net profits for six consecutive years, managed to remove risk warnings after its 2024 report was audited without reservations, indicating improved operational stability [6][9] Group 3: Regulatory Scrutiny and Compliance - The Shenzhen Stock Exchange is rigorously enforcing delisting regulations, ensuring that companies meet the necessary conditions for removing risk warnings [8] - *ST XinNing successfully applied to remove its delisting risk warning after demonstrating compliance with the relevant conditions following a thorough self-assessment [8] - *ST BubuGao also had its risk warning lifted after providing sufficient evidence to the exchange regarding its continuous operation capability and financial improvements [9]

Core Viewpoint - The recent domestic refined oil price adjustment window opened on August 12, 2025, but the retail price remains unchanged due to low crude oil price fluctuations and a failure to meet international adjustment thresholds [1] Group 1: Oil Price Trends - The international oil prices experienced fluctuations, with WTI crude oil settling at $63.96 per barrel and Brent crude at $66.63 per barrel as of August 11, 2025 [1] - OPEC+ announced a completion of a cumulative production increase of 2.3 million barrels per day by September, marking an early exit from a previous reduction plan, which negatively impacted the oil market [1] - The crude oil price change rate was recorded at 0.55%, indicating a potential domestic gasoline and diesel price increase of 20 yuan per ton, but it did not reach the international adjustment threshold [1] Group 2: Gasoline Market Analysis - The operating rate of local refineries remained stable at around 52%, while the operating rate of major refineries increased to approximately 84%, leading to a slight increase in refined oil supply [3] - The domestic gasoline market is characterized by a cautious atmosphere due to normal travel activities and fluctuating crude oil prices, resulting in a downward trend in gasoline prices [3] - The increasing penetration of electric vehicles has led to lower-than-expected gasoline demand [3] Group 3: Diesel Market Analysis - Diesel market supply has slightly increased, but demand has weakened due to increased rainy weather and reduced agricultural oil consumption following the summer harvest [3] - Diesel inventory reached 1.1477 million tons in July, reflecting an 11.37% month-on-month increase, indicating a potential downward trend in diesel prices [3] - The overall diesel market is experiencing a decline in prices due to stable infrastructure and logistics demand [4] Group 4: Future Market Outlook - The upcoming end of the traditional fuel consumption peak season in the U.S. and unresolved supply risks are expected to keep international oil prices weak in the short term [4] - Domestic refinery operating rates have increased, leading to a relaxed supply of refined oil, while gasoline demand has not shown significant growth, suggesting a continued downward trend in gasoline prices [4] - Diesel demand is also expected to decline further, indicating a potential continuation of lower diesel prices [4]

Group 1 - Domestic refined oil price adjustment is expected to remain unchanged for the fourth time this year, with a total of fifteen adjustments so far, resulting in a decrease of 225 yuan per ton for gasoline and 215 yuan per ton for diesel compared to the end of last year [1] - A total of 6 companies will have their restricted shares unlocked today, with a combined unlock volume of 1.45 billion shares, amounting to a market value of 195.817 billion yuan [2] - 15 companies have disclosed stock repurchase progress, with two companies announcing new repurchase plans and three companies having their plans approved by shareholders [3] Group 2 - The central bank has a 7-day reverse repurchase operation of 160.7 billion yuan maturing today, with an operation rate of 1.40% [4] - Upcoming economic data releases include the US July CPI and the Eurozone August economic sentiment index [5]

Core Viewpoint - The asphalt production industry is currently experiencing weak supply and demand, with operating load rates remaining low [1] Group 1: Supply Side - Asphalt production enterprises are operating at low load rates [1] - The cost side is influenced by fluctuating crude oil prices, which affect the central price of asphalt [1] Group 2: Demand Side - High temperatures and rainfall are impacting road construction in certain regions, leading to slow progress on terminal projects and overall weak asphalt demand [1] - Downstream players and traders are adopting a cautious strategy in response to the low demand [1] Group 3: Market Strategy - Short-term trading is recommended as the primary operational strategy in the current market environment [1]