Core Viewpoint - Geopolitical factors have driven up oil prices, leading to a strong rise in oil funds and related stocks [1] Group 1: Oil Funds and Market Reactions - Four oil funds have collectively warned about premium risks, indicating that investors may face significant losses if they buy at high premiums [1] - The E Fund's crude oil LOF fund (code: 161129) showed a significant premium, with a net asset value of 1.1514 yuan on January 28, 2026, while the market closing price was 1.340 yuan [4] - Other funds, including those managed by GF Fund, Huaan Fund, and Harvest Fund, also reported substantial premiums and announced temporary suspensions of trading to alert investors [4] Group 2: Stock Performance - Tongyuan Petroleum (300164.SZ) emerged as the top-performing stock, achieving a weekly increase of over 63% and doubling its price since the beginning of the year, with a cumulative rise of over 133% [3] - The stock experienced abnormal trading fluctuations, with a cumulative price deviation exceeding 30% over three consecutive trading days [6] - The oil and gas extraction industry is closely linked to international crude oil prices and capital expenditures, with geopolitical tensions in regions like Venezuela and Iran contributing to supply risk concerns [6] Group 3: Industry Trends - The oil and petrochemical sector saw a nearly 8% increase in a week, with oil service engineering rising nearly 15% [6] - Recent reports indicate a significant increase in market sentiment towards oil, driven by geopolitical and macroeconomic factors, although no substantial fundamental improvements have been observed [6]

公司公告汇总 截至2026年1月30日收盘，中曼石油（603619）报收于34.69元，较上周的28.23元上涨22.88%。本周， 中曼石油1月30日盘中最高价报40.18元，股价触及近一年最高点。1月26日盘中最低价报28.67元。本周 共计3次涨停收盘，无跌停收盘情况。中曼石油当前最新总市值160.39亿元，在油服工程板块市值排名 6/13，在两市A股市值排名1323/5184。 本周关注点 交易信息汇总 沪深交易所2026年1月30日公布的交易公开信息显示，中曼石油（603619）因有价格涨跌幅限制的日价 格振幅达到15%的前五只证券登上龙虎榜。此次是近5个交易日内第2次上榜。 沪深交易所2026年1月29日公布的交易公开信息显示，中曼石油（603619）因非ST、*ST和S证券连续三 个交易日内收盘价格涨幅偏离值累计达到20%的证券登上龙虎榜。此次是近5个交易日内第1次上榜。 1月26日中曼石油发生15笔大宗交易，合计成交5117.88万元，成交价较收盘价折价16.36%。 中曼石油天然气集团股份有限公司控股股东上海中曼投资控股有限公司及实际控制人李春第确认，截至 目前不存在影响公司股票交易波动的重 ...

Core Viewpoint - The oil service engineering sector experienced a decline of 3.38% on January 30, with Keli Co., Ltd. leading the losses. The Shanghai Composite Index closed at 4117.95, down 0.96%, while the Shenzhen Component Index closed at 14205.89, down 0.66% [1]. Group 1: Market Performance - The oil service engineering sector saw significant individual stock movements, with notable declines in Keli Co., Ltd. by 14.39% and Qianeng Hengxin by 12.83% [2]. - The trading volume for Keli Co., Ltd. was 138,000 shares, with a transaction value of 773 million yuan [2]. - The overall sector had a net outflow of 1 billion yuan from major funds, while retail investors contributed a net inflow of 656 million yuan [2][3]. Group 2: Individual Stock Analysis - Keli Co., Ltd. closed at 51.80 yuan, experiencing a drop of 14.39% with a trading volume of 138,000 shares [2]. - Qianeng Hengxin closed at 31.33 yuan, down 12.83%, with a trading volume of 457,200 shares [2]. - The stock of Huibo Yin fell by 6.14%, closing at 4.13 yuan, with a trading volume of 143,670 shares [2]. Group 3: Fund Flow Analysis - Major funds showed a net outflow from several stocks, including Keli Co., Ltd. with a net outflow of 75.27 million yuan [3]. - Retail investors showed a positive net inflow in stocks like Huibo Yin, with a net inflow of 58.99 million yuan [3]. - The stock of Haiyou Development had a net inflow of 18.4 million yuan from retail investors, despite a major fund outflow [3].

Core Insights - The report indicates that since the fourth quarter, the funding structure of the Beijing Stock Exchange (BSE) has shown a "dual expansion" characteristic, with both the number and attention towards index funds steadily increasing, forming a preliminary bottom position for index products. Concurrently, some active funds are beginning to identify individual stocks with growth potential and undervaluation advantages, transitioning from a concentrated to a structured optimization approach, maintaining overall market stability [7][16] - From the market ecology perspective, the concentration of index constituent stocks has increased, and the valuation anchoring effect is gradually becoming evident. Some newly listed stocks with solid fundamentals and low coverage have become focal points for new incremental funds. As the allocation logic evolves towards the medium to long term, the market style is gradually shifting to a "selected + low turnover" characteristic. Overall, the current valuation of the BSE market offers relative cost-effectiveness, with a resonance structure among index funds, active funds, and new stock supply, which is expected to provide medium-term support for the market [7][16] Market Review and Valuation - As of January 29, 2026, the BSE 50 Index rose by 6.64% in January, with a maximum increase of 3.96% during the period. Among BSE stocks, 222 stocks increased, 69 stocks decreased, and none remained flat [8][17] - The average PE (TTM) of the BSE 50 Index as of January 29, 2026, is 64.50 times, with a median of 64.74 times. In comparison, the average PE (TTM) of the ChiNext Index is 43.24 times, and the Sci-Tech Innovation Board is 175.49 times [22] New Stock Dynamics - In January, four new stocks were listed on the BSE, bringing the total number of listed companies to 291 as of January 29, 2026. From January 1 to January 30, 2026, five companies were subscribed and five were listed [32] Key Company Announcements - The report includes various company announcements, highlighting significant contracts and operational updates from companies such as Copper Crown Mining, Taihu Yuanda, and Dana Biotechnology, which indicate ongoing business activities and strategic developments [40]

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [1][20]. Core Insights - The company is expected to have a capital expenditure of approximately RMB 8.44 billion by 2026, focusing on equipment investment, technology upgrades, R&D, and base construction, indicating a positive development trajectory [2][18]. - The company is a domestic leader in the oil service industry, with an optimized business structure and an expected gradual increase in gross profit margin. The projected net profits for 2025-2027 are RMB 4.098 billion, RMB 4.274 billion, and RMB 4.560 billion, respectively, with earnings per share of RMB 0.86, RMB 0.90, and RMB 0.96 [3][20]. Summary by Relevant Sections Company Overview - The company has made significant progress since the "14th Five-Year Plan" and is well-positioned for future growth [2]. Market Conditions - The Brent crude oil price is expected to fluctuate between USD 55-65 per barrel by 2026, influenced by geopolitical tensions and the high costs of new wells in the U.S. shale oil sector [3][8]. - The marine oil and gas sector is identified as a key area for development, with capital expenditures expected to remain high [9][17]. Financial Projections - The company anticipates a drilling ship utilization rate exceeding 90% and an overall equipment utilization rate reaching historical highs by 2025. Key operational metrics are expected to continue improving in 2026 [19][20]. - The projected revenue growth rates for 2025-2027 are 2%, 12%, and 12%, respectively, with net profit growth rates of 4%, 31%, and 4% [24].

证券之星消息，1月29日油服工程板块较上一交易日上涨7.69%，科力股份领涨。当日上证指数报收于 4157.98，上涨0.16%。深证成指报收于14300.08，下跌0.3%。油服工程板块个股涨跌见下表： 从资金流向上来看，当日油服工程板块主力资金净流入7416.32万元，游资资金净流入2.28亿元，散户资 金净流出3.02亿元。油服工程板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600968 海油发展 | | 1.31亿 | 10.08% | -2249.86万 | -1.73% | -1.08 Z | -8.34% | | 600339 中油工程 | | 1.14 Z | 10.36% | -2758.69万 | -2.50% | -8690.59万 | -7.86% | | 920088 科力股份 | | 1.06亿 | 11.75% | 1652.53万 | 1.84% | 1 ...

Investment Rating - The investment rating for the company is "Outperform the Market" (maintained) [1][20]. Core Insights - The company is expected to have a capital expenditure of approximately RMB 8.44 billion by 2026, focusing on equipment investment, technology upgrades, R&D, and base construction, indicating a positive development trajectory [2][18]. - The Brent crude oil price is projected to fluctuate between USD 55-65 per barrel by 2026, influenced by geopolitical tensions and the high costs of new shale oil wells in the U.S. [3][8]. - The company is increasing its investment in equipment construction and technology R&D, which is expected to enhance operational efficiency and profitability [3][19]. - As a leading player in the oil service industry, the company is optimizing its business structure, with an anticipated gradual increase in gross profit margins and net profits projected at RMB 40.98 billion, RMB 42.74 billion, and RMB 45.6 billion for 2025-2027 [3][20]. Summary by Sections Company Overview - The company has made significant progress since the 14th Five-Year Plan, with a comprehensive development outlook [2]. Market Conditions - The international oil price is expected to rise slightly due to geopolitical factors, with the U.S. shale oil production facing high operational costs [3][8]. Financial Projections - The company forecasts net profits of RMB 40.98 billion, RMB 42.74 billion, and RMB 45.6 billion for 2025, 2026, and 2027 respectively, with earnings per share projected at RMB 0.86, RMB 0.90, and RMB 0.96 [3][20]. Investment Strategy - The company is committed to enhancing its operational efficiency through lean cost management and continuous investment in technology, which is expected to yield positive results in the coming years [18][19].

Core Viewpoint - The oil service engineering sector experienced a significant increase of 6.38% on January 28, with Tongyuan Petroleum leading the gains [1] Market Performance - The Shanghai Composite Index closed at 4151.24, up 0.27% - The Shenzhen Component Index closed at 14342.9, up 0.09% [1] Individual Stock Performance - Tongyuan Petroleum (300164) closed at 11.03, up 20.02% with a trading volume of 2.6786 million shares and a transaction value of 2.761 billion - Qianeng Hengxin (300191) closed at 29.95, up 19.28% with a trading volume of 432,800 shares and a transaction value of 1.21 billion - Keli Co., Ltd. (920088) closed at 46.55, up 15.85% with a trading volume of 133,900 shares and a transaction value of 607 million - PetroChina Oilfield Services (600871) closed at 2.94, up 10.11% with a trading volume of 3.1754 million shares and a transaction value of 904 million - Zhongman Petroleum (603619) closed at 33.88, up 10.00% with a trading volume of 379,000 shares and a transaction value of 1.242 billion [1] Capital Flow Analysis - The oil service engineering sector saw a net inflow of 940 million from main funds, while retail investors experienced a net outflow of 624 million [1] - The main fund inflow and outflow for key stocks include: - PetroChina Oilfield Services: net inflow of 237 million, net outflow from retail of 137 million - Zhongman Petroleum: net inflow of 109 million, net outflow from retail of 43 million - Tongyuan Petroleum: net inflow of 84 million, net outflow from retail of 1.15 million [2]

从资金流向上来看，当日油服工程板块主力资金净流出4.51亿元，游资资金净流入5851.81万元，散户资 金净流入3.92亿元。油服工程板块个股资金流向见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300164 | 通原石油 | 9.19 | 2.91% | 229.54万 | | 20.90亿 | | 603727 | 博迈科 | 66.99 | 1.92% | 8.44万 | | 1.42亿 | | 600871 | 石化油服 | 2.67 | -0.74% | 350.50万 | | 9.48(乙 | | 619809 | 中曼石油 | 30.80 | -0.81% | - 36.09万 | | 11.33亿 | | 002828 | 贝肯能源 | 12.67 | -0.94% | 29.75万 | | 3.77亿 | | 300191 | 潜能恒信 | 25.11 | -0.95% | 22.50万 | | 5.61亿 | | 601808 | 四周期 | 16 ...

证券之星消息，1月26日油服工程板块较上一交易日上涨3.48%，通源石油领涨。当日上证指数报收于 4132.61，下跌0.09%。深证成指报收于14316.64，下跌0.85%。油服工程板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300164 | 通線石油 | 8.93 | 13.04% | 226.71万 | | 19.58亿 | | 603619 | 中曼石油 | 31.05 | 9.99% | 30.74万 | | 9.16亿 | | 920088 | 科力股份 | 42.00 | 8.64% | 10.69万 | | 4.46 乙 | | 300191 | 潜能恒信 | 25.35 | 7.96% | 1 30.80万 | | 7.70亿 | | 601808 | 迎思想史 | 16.36 | 5.68% | 45.96万 | | 7.43亿 | | 002207 | 准油股份 | 9.41 | 5.26% | 60.70万 | | 5.65亿 ...