Core Viewpoint - The successful completion of the closed coring technology service for the Liye 106HF well by Shengli Oil Engineering Company has achieved an average recovery rate of 97.92%, receiving high praise from the client [1] Group 1: Technical Achievements - The Liye 106HF well has a maximum inclination of 41 degrees and has encountered fractured zones, which posed challenges such as core sticking and blockage during the coring process [1] - A dedicated project team was established to address these challenges, involving collaboration with the oilfield shale oil project department and the difficult-to-move project management center [1] - The implementation of a "9-meter + 4-meter" dual-tube combination coring technique maximized coring efficiency, providing technical support for the large-scale exploration and development of shale oil in the Shengli oil area [1]

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (71.06%), COSCO Shipping Energy (70.70%), and GCL-Poly Energy (69.65%) [1] - In the last five trading days, the largest increases in holding amounts were seen in China Mobile (+2.122 billion), Pop Mart (+1.922 billion), and InnoCare Pharma (+1.868 billion) [1] - Conversely, Alibaba (-3.735 billion), SMIC (-2.181 billion), and Laopuhuangjin (-1.048 billion) experienced the largest decreases in holding amounts [2] Group 1: Hong Kong Stock Connect Holding Ratios - China Telecom (00728) has a holding ratio of 71.06% with 9.863 billion shares [1] - COSCO Shipping Energy (01138) has a holding ratio of 70.70% with 916 million shares [1] - GCL-Poly Energy (01330) has a holding ratio of 69.65% with 282 million shares [1] - Other notable companies include China Shenhua (67.73%), Kaisa Group (67.65%), and China Southern Power Grid (66.07%) [1] Group 2: Recent Increases in Holdings - China Mobile (00941) saw an increase of +2.122 billion with a change of +24.9322 million shares [1] - Pop Mart (09992) increased by +1.922 billion with +8.2689 million shares added [1] - InnoCare Pharma (09606) rose by +1.868 billion with an increase of +6.2468 million shares [1] - Other companies with significant increases include Meituan (+1.614 billion), Xiaomi (+1.591 billion), and CNOOC (+1.476 billion) [1] Group 3: Recent Decreases in Holdings - Alibaba (09988) experienced a decrease of -3.735 billion with a reduction of -22.6890 million shares [2] - SMIC (00981) saw a decline of -2.181 billion with -29.4595 million shares sold [2] - Laopuhuangjin (06181) decreased by -1.048 billion with a drop of -1.5141 million shares [2] - Other companies with notable decreases include Innovent Biologics (-0.844 billion), China Hongqiao (-0.707 billion), and Jiangxi Copper (-0.670 billion) [2]

Core Insights - The market is currently in a low volatility state, with both equity and bond markets showing signs of low trading volume and oscillation around key index levels [1][2] - The upcoming "15th Five-Year Plan" is expected to influence market trends, with historical data suggesting potential positive movements in the A-share market following similar announcements in the past [2][3] - The recent Politburo meeting emphasized stabilizing the market, which may reinforce market expectations and provide a foundation for future growth in technology sectors [3][5] Equity Market Summary - The A-share market saw a slight increase of 0.14% with a trading volume of 1.66 trillion yuan, marking a decrease of 295 billion yuan from the previous day [1] - The Hang Seng Index and Hang Seng Tech Index rose by 0.72% and 0.48%, respectively, with net inflows from southbound funds amounting to 5.345 billion HKD [1][3] - The current trading volume is at its lowest since August 6, indicating a lack of strong directional signals from market participants [1][2] Bond Market Summary - The bond market exhibited mixed performance, with long-term bond yields experiencing slight increases despite initial declines due to market sentiment [4][5] - The preference for credit products over interest rate bonds is evident, with significant net purchases of credit bonds compared to interest rate bonds in October [4] - The market is closely monitoring the impact of the "15th Five-Year Plan" on bond pricing and investor sentiment [5] Commodity Market Summary - The commodity market is showing signs of recovery, particularly in precious metals, which have stabilized after previous sell-offs [6][7] - Industrial commodities, particularly those related to the "anti-involution" theme, are experiencing strong performance, driven by policy expectations and improving fundamentals [6][8] - Significant capital inflows into industrial products were noted, with a net inflow of over 6.7 billion yuan into commodity indices, while precious metals saw a net outflow of 3.4 billion yuan [6][8] Technology Sector Insights - The recent Politburo meeting highlighted the importance of seizing opportunities in the new technological revolution, which may lead to targeted investments in key sectors such as artificial intelligence and quantum information [3][5] - The upcoming "15th Five-Year Plan" is anticipated to clarify future technological directions, potentially benefiting sectors aligned with government priorities [3][5]

Market Overview - On October 23, the Hang Seng Index rose by 0.72%, closing at 25,967.98 points, with a net inflow of HKD 5.345 billion through the southbound trading channel [1] - The total trading volume for the southbound trading on the same day was HKD 120.193 billion, with a net buy of HKD 5.345 billion [1] Southbound Trading Details - The Shanghai Stock Exchange's southbound trading had a total transaction amount of HKD 75.581 billion, with a net buy of HKD 4.770 billion [1] - The Shenzhen Stock Exchange's southbound trading recorded a transaction amount of HKD 44.612 billion, with a net buy of HKD 0.575 billion [1] Active Stocks - In the Shanghai Stock Exchange's southbound trading, Alibaba-W had the highest transaction amount at HKD 49.75 billion, followed by Pop Mart and SMIC with HKD 46.66 billion and HKD 35.22 billion respectively [1] - In terms of net buy amounts, Pop Mart led with a net buy of HKD 5.38 billion, despite its closing price dropping by 9.36% [1] - The stock with the highest net sell amount was Hua Hong Semiconductor, with a net sell of HKD 3.56 billion, and its closing price decreased by 4.61% [1] Shenzhen Stock Exchange Active Stocks - In the Shenzhen Stock Exchange's southbound trading, Alibaba-W also topped the transaction amount at HKD 32.77 billion, followed by SMIC and Pop Mart with HKD 25.85 billion and HKD 23.60 billion respectively [2] - The stock with the highest net buy was Meituan-W, with a net buy of HKD 0.487 billion, and it closed up by 4.06% [2] - Hua Hong Semiconductor again had the highest net sell amount at HKD 6.59 billion, with a closing price drop of 4.61% [2]

日前，由胜利油田自主建设的基于"油田—直属单位—基层单元"三级管控架构的水资源管控平台投入试 运行，标志着油田水资源管理迈入智慧化、精细化新阶段。 本报10月22日讯(大众新闻记者 顾松 通讯员 赵雪 任苹苹) 打开系统界面，胜利油田各单位计划水量、实 时取水量、管网漏失率等关键数据一目了然，吨油耗水指标实现动态排名，漏损异常实时报警…… 据了解，油田深入贯彻落实"四水四定"原则，强化水资源消耗总量和强度指标刚性约束，依托水资源管 控平台推动管理指标持续细化，有效降低吨油耗水量与用水总量，为实现油田节水规划目标提供系统保 障。 2023年12月，胜利油田成立水资源管控平台建设项目组，在生产管理运行中心统筹下，由供水分公司牵 头推进平台开发。经过一年多的建设，一期项目已完成七大功能模块搭建，同步整合跨部门业务需求44 项。目前，水资源管控平台已向各单位开放权限，实时汇聚用水数据，并推动一级、二级远传水表的更 新与装配，为系统功能完善奠定基础。 当前，水资源管控平台二期建设已进入可行性研究阶段。项目将聚焦"1张图+7大模块+2项提升"总体框 架，构建"GIS管网拓扑+业务数据中台"双轮驱动体系，创新打造"供水运营 ...

Market Overview - The Hong Kong stock market saw all three major indices close higher, with the Hang Seng Index rising by 0.72%, the Hang Seng Tech Index up by 0.48%, and the Hang Seng China Enterprises Index increasing by 0.83% [5][6] - The total trading volume reached 245.3 billion HKD, with net inflows of 5.3 billion HKD from southbound trading [6] Sector Performance - Oil stocks performed strongly, driven by international oil price increases, with companies like Shandong Molong and Yanchang Petroleum International rising over 6% [9][10] - Banking stocks also saw gains, with Postal Savings Bank, Minsheng Bank, and Agricultural Bank of China increasing by 4.59%, 2.39%, and 1.88% respectively [14][15] - Conversely, pharmaceutical stocks continued to decline, with the Hang Seng Biotechnology Index dropping by 1.46% [24][25] Company Highlights - Pop Mart's stock fell by 9.36%, marking a five-day decline, despite reporting a significant revenue increase of 245%-250% year-on-year for Q3 2025 [18] - Meituan's stock rose by 4.06%, with a peak increase of over 6% during the day, following the announcement of key personnel changes aimed at enhancing its overseas business strategy [21][23] - The banking sector is expected to maintain positive revenue growth, with projections indicating a 0.4% increase in cumulative revenue and a 1.1% rise in net profit for listed banks by Q3 2025 [14]

Report Summary 1. Report Industry Investment Rating There is no information provided regarding the report industry investment rating in the given content. 2. Core Viewpoints - Overseas: Ahead of the China - US negotiations, the US is considering restricting exports of products made with US software to China. The overnight US stock market's major indices closed down slightly, and the market showed strong resistance to this news. Inflation data will be released the next day, and other asset performances were relatively stable. Attention should be paid to tariff - related news and economic data [2]. - Domestic: On Wednesday, the broader market slightly declined, with the Shenzhen Component Index and the ChiNext Index falling more significantly. The market still lacks a clear main line, and the profit - making effect of individual stocks is poor. Policy - oriented signals from the learning newspaper have given the market some confidence. The real estate and state - owned enterprise reform concepts are strengthening, indicating that funds are betting on the development of deep - earth economy, resource assetization, and asset securitization. The stock index is expected to continue to fluctuate, and in the short term, it may retest the 20 - day moving average [3]. 3. Summary by Directory 3.1 Important News - US Senate: The 12th rejection of the temporary appropriation bill led to a "shutdown" [5]. - Japan: The newly - appointed Japanese Prime Minister, Hayase Sanae, plans a procurement package to please Trump [5]. - Tariffs: India and the US are about to reach a trade agreement, reducing tariffs on India to 15% - 16%. The Trump administration is preparing a drug investigation to pave the way for new tariffs [5]. - Russia - Ukraine Situation: The EU approved the 19th round of sanctions against Russia, including a liquefied natural gas import ban. The US is reported to allow Ukraine to use long - range missiles against Russia, but Trump called it fake news. The US Treasury sanctioned two major Russian oil companies, and Trump cancelled his meeting with Putin in Budapest [5]. - China - US Trade: Trump said that China and the US will reach a trade agreement at the APEC summit, but the foreign ministry has no information to provide [5]. - Shenzhen: It aims to exceed 20 trillion yuan in the total market value of domestic and overseas listed companies by the end of 2027 [6]. - Fund Rules: A draft for soliciting opinions on the performance comparison benchmark rules for public funds is about to be released [7]. - Foreign Exchange: In the first three quarters of this year, China's foreign - related payment and receipt totaled 11.6 trillion US dollars, a record high for the same period, with a year - on - year increase of 10.5%. Cross - border capital inflows were 119.7 billion US dollars, and the bank settlement and sales surplus was 63.2 billion US dollars, both higher than the previous year [7]. 3.2 Futures Market Tracking - Performance: The performance of various stock index futures contracts, including the Shanghai 50, CSI 300, CSI 500, and CSI 1000, is presented, showing the closing price, settlement price, change, change rate, basis, etc. [9]. - Trading Volume and Open Interest: The trading volume, trading volume change, turnover, turnover change, open interest, and open interest change of each contract are provided, along with the net position of the top 20 members [10]. 3.3 Spot Market Tracking - Index Performance: The current points, daily, weekly, monthly, and annual changes, trading volume, and price - to - earnings ratios of major indices such as the Wind All - A, Shanghai Composite Index, Shenzhen Component Index, and others are shown [29]. - Sector Performance: The performance of different sectors, including upstream, mid - stream, consumer, TMT, financial, and public utility sectors, is analyzed, including their price changes, trading volumes, and price - to - earnings ratios [29]. - Market Style Impact: The impact of market styles (cycle, consumption, growth, finance, stability) on the Shanghai 50, CSI 300, CSI 500, and CSI 1000 indices is presented, including the number of stocks, weights, and daily, weekly, monthly, and annual contributions [30][31]. - Valuation: The valuations and historical quantiles of major indices and Shenwan sectors are shown [33][36]. - Market Activity: The Sunday average trading volume, Sunday average turnover rate, number of rising and falling stocks, and index trading volume changes are presented [38]. 3.4 Liquidity Tracking - Central Bank Operations: The central bank's open - market operations, including money injection, money withdrawal, and net money injection, are shown [44][45]. - Interest Rates: The Shibor interest rate levels are presented [44][46].

Core Insights - The Hong Kong stock market saw a net inflow of 53.45 billion HKD from Northbound trading on October 23, with the Shanghai Stock Connect contributing 47.7 billion HKD and the Shenzhen Stock Connect contributing 5.75 billion HKD [1] Group 1: Stock Performance - The most bought stocks included CNOOC (00883), Pop Mart (09992), and Meituan-W (03690) [1] - The most sold stocks included Hua Hong Semiconductor (01347), Innovent Biologics (01801), and Xiaomi Group-W (01810) [1] Group 2: Individual Stock Details - CNOOC (00883) received a net buy of 9.79 billion HKD, driven by rising international oil prices due to sanctions on Russian oil companies [5] - Pop Mart (09992) saw a net buy of 7.93 billion HKD, with a reported sales growth of 245% to 250% in Q3, significantly exceeding Morgan Stanley's forecast [5] - Meituan-W (03690) had a net buy of 5.24 billion HKD, with strategic leadership changes indicating a focus on international expansion [6] - Semiconductor stocks showed divergence, with SMIC (00981) receiving a net buy of 4.25 billion HKD, while Hua Hong Semiconductor (01347) faced a net sell of 10.14 billion HKD due to concerns over its business sustainability [6] - Zai Lab (02367) received a net buy of 3.59 billion HKD following the approval of a new medical device [7] - Tencent (00700) and Alibaba-W (09988) had net buys of 2.65 billion HKD and 1.53 billion HKD, respectively, while Innovent Biologics (01801) and Xiaomi Group-W (01810) faced net sells of 1.4 billion HKD and 573 million HKD [7]

Core Points - The Hang Seng Index rose by 186.21 points, or 0.72%, closing at 25,967.98 points on October 23 [1] - The total turnover for the day on the main board was HKD 245.256 billion [1] - The Hang Seng China Enterprises Index increased by 76.96 points, or 0.83%, closing at 9,300.74 points [1] - The Hang Seng Tech Index gained 28.36 points, or 0.48%, closing at 5,951.45 points [1] Blue Chip Stocks - Tencent Holdings rose by 1.52%, closing at HKD 633 [1] - Hong Kong Exchanges and Clearing fell by 0.14%, closing at HKD 421.8 [1] - China Mobile increased by 0.77%, closing at HKD 85.1 [1] - HSBC Holdings rose by 0.2%, closing at HKD 102.7 [1] Local Hong Kong Stocks - Cheung Kong Holdings increased by 0.37%, closing at HKD 38 [1] - Sun Hung Kai Properties rose by 1.25%, closing at HKD 93.5 [1] - Henderson Land Development increased by 0.95%, closing at HKD 27.56 [1] Chinese Financial Stocks - Bank of China rose by 0.92%, closing at HKD 4.4 [1] - China Construction Bank increased by 0.9%, closing at HKD 7.88 [1] - Industrial and Commercial Bank of China rose by 1.68%, closing at HKD 6.06 [1] - Ping An Insurance increased by 0.09%, closing at HKD 55.55 [1] - China Life Insurance rose by 0.9%, closing at HKD 24.58 [1] Oil and Petrochemical Stocks - China Petroleum & Chemical Corporation rose by 1.69%, closing at HKD 4.2 [1] - China National Petroleum Corporation increased by 1.52%, closing at HKD 8.01 [1] - CNOOC Limited rose by 2.15%, closing at HKD 19.92 [1]

据了解，传统封堵技术的弊端在于普通灰封面对多漏点、多油层井时，面临作业占井周期长、成功率 低，还易加剧油层污染。不仅如此，这种措施单井费用超过10万元，还有可能加速套管腐蚀，带来报废 等隐患。 如果使用膨胀管补贴，对井筒条件要求严苛，增加井筒后期处理难度；普通双封卡漏技术则无法验封， 易下滑，有效期短。长此以往，导致大量高液、高含水、高年限油水井因封堵难题长停，造成宝贵储量 损失。 针对这一现状，技术人员创新推出双封卡漏技术工艺，通过精准搭配封隔器与水力锚，先根据井斜调整 Y221封隔器座封吨位，正试挤验封合格的同时实现油层与滤砂管解堵，然后投球使Y445封隔器高压座 封，反试挤验封后打高压丢封，从根本上杜绝封隔器下滑、上移风险。 本报10月22日讯(大众新闻记者顾松通讯员王祖江)经过近30年的勘探开发，胜利油田鲁明公司济北采油 管理区所辖区块进入开发中后期。随着套破井增多、多漏点封堵难、作业成本高、油层污染等问题叠 加，曲堤油田高效开发出现了"拦路虎"。 相比传统技术，该技术作业占井周期短、成本低，且不受井况限制，可广泛适用于长井段套漏及补孔下 返大跨度油层井，有效避免灰封带来的油层污染问题。 面对传统灰封 ...