Group 1: CPI Analysis - In November 2025, the CPI increased by 0.7% year-on-year, up from 0.2% in the previous month, aligning with market expectations[2] - The main driver for the CPI increase was the turnaround in food prices, particularly fresh vegetable prices, which rose by 14.5% year-on-year, compared to a decline of 7.3% in the previous month[4][5] - Core CPI remained stable at 1.2% year-on-year, with gold prices contributing significantly to this stability, while service prices showed a slowdown due to seasonal demand[6] Group 2: PPI Analysis - The PPI decreased by 2.2% year-on-year in November, slightly worse than the previous month's decline of 2.1%, primarily due to a high base effect from the previous year[8] - PPI showed a month-on-month increase of 0.1%, marking the second consecutive month of growth, driven by rising prices in the coal and non-ferrous metal sectors[8][9] - The "anti-involution" effect is evident as downstream consumer goods prices stabilize, while upstream coal and metal prices continue to rise[11] Group 3: Future Outlook - The CPI is expected to maintain its upward trend in December, supported by low base effects and rising food prices, with a projected average CPI growth rate of 0.7% for the coming year[10] - The PPI's year-on-year decline is anticipated to narrow, influenced by global manufacturing recovery and domestic supply-demand adjustments, although the timing for a return to positive growth remains uncertain[11] - The recovery of domestic demand and the potential for a rebound in pork prices are critical factors that could influence CPI trends in the upcoming months[10]

天眼查显示，近日，海南嘉燃贸易有限公司成立，法定代表人为姚晓英，注册资本1000万人民币，由浙 江嘉燃贸易有限公司全资持股。 企业名称海南嘉燃贸易有限公司法定代表人姚晓英注册资本1000万人民币国标行业制造业>石油、煤炭 及其他燃料加工业>煤炭加工地址海南省海口市江东新区江东大道202号江东发展大厦A110室-3A-1069 企业类型有限责任公司（非自然人投资或控股的法人独资）营业期限2025-12-9至无固定期限登记机关 海南省市场监督管理局 来源：市场资讯 经营范围含一般经营项目：货物进出口；技术进出口；技术服务、技术开发、技术咨询、技术交流、技 术转让、技术推广；石油天然气技术服务；离岸贸易经营；特种设备出租；特种设备销售；劳务服务 （不含劳务派遣）；润滑油销售；石油制品销售（不含危险化学品）；煤炭及制品销售；国内贸易代 理；销售代理；贸易经纪；专用化学产品销售（不含危险化学品）；热力生产和供应（经营范围中的一 般经营项目依法自主开展经营活动，通过国家企业信用信息公示系统（海南）向社会公示） 序号股东名称持股比例1浙江嘉燃贸易有限公司100% ...

Group 1 - The State Intellectual Property Office of China has granted a patent for a system and method for oil phase hydrogenation to China National Offshore Oil Corporation (CNOOC), CNOOC Refining & Chemical Company, and CNOOC Chemical Research and Design Institute (Beijing) [1] - CNOOC was established in 1983 and is primarily engaged in oil and gas exploration, with a registered capital of 11,380 million RMB. The company has invested in 45 enterprises and participated in 5,000 bidding projects, holding 281 trademark records and 5,000 patent records [1] - CNOOC Refining & Chemical Company, founded in 2005, focuses on oil, coal, and other fuel processing, with a registered capital of 5,129.42 million RMB. It has invested in 27 enterprises and participated in 4,618 bidding projects, holding 456 trademark records and 509 patent records [1] Group 2 - CNOOC Chemical Research and Design Institute (Beijing) was established in 2016, focusing on research and experimental development, with a registered capital of 961.24 million RMB. The institute has invested in 1 enterprise and participated in 311 bidding projects, holding 226 patent records [2]

数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据可知：2025年10月全国石油、煤炭及其他燃料加工业出口货值为126.6亿元，同比 增长20.4%；2025年1-10月全国石油、煤炭及其他燃料加工业累计出口货值为1258.2亿元，累计同比下 降15%。 2019年-2025年1-10月全国石油、煤炭及其他燃料加工业出口货值统计图 上市公司：恒逸石化（000703），岳阳兴长（000819），大庆华科（000985），东华能源（002221）， 国创高新（002377），齐翔腾达（002408），宝莫股份（002476），荣盛石化（002493），宇新股份 （002986），中国石油（601857），康普顿（603798），美锦能源（000723），安泰集团（600408）， 山西焦化（600740） 相关报告：智研咨询发布的《2025-2031年中国石 ...

经营范围含生物质燃料加工；生物质成型燃料销售；生物质液体燃料生产工艺研发；农林废物资源化无 害化利用技术研发；技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广。 企业名称中北绿能（鹤岗）生物质液体燃料制造有限公司法定代表人高博注册资本5000万人民币国标行 业制造业>石油、煤炭及其他燃料加工业>煤炭加工地址黑龙江省鹤岗市南山区21委名苑小区5号住宅楼 151室企业类型有限责任公司（非自然人投资或控股的法人独资）营业期限2025-12-4至无固定期限登记 机关鹤岗市市场监督管理局南山分局 序号股东名称持股比例1黑龙江省中北绿能投资股份有限公司100% 天眼查显示，近日，中北绿能（鹤岗）生物质液体燃料制造有限公司成立，法定代表人为高博，注册资 本5000万人民币，由黑龙江省中北绿能投资股份有限公司全资持股。 来源：市场资讯 ...

Group 1 - The core point of the article is that Linhuan Coking Co., Ltd. has obtained a patent for a purification method of dimethyl carbonate, with the patent number CN 120842082 B and an application date of September 2025 [1] - Linhuan Coking Co., Ltd. was established in 2005 and is located in Huaibei City, primarily engaged in the petroleum, coal, and other fuel processing industries [1] - The company has a registered capital of 1,090.816936 million RMB and has made investments in one external enterprise [1] Group 2 - Linhuan Coking has participated in 5,000 bidding projects and holds 11 trademark registrations [1] - The company possesses a total of 673 patents and has 95 administrative licenses [1]

Core Insights - China Petroleum & Chemical Corporation (Sinopec) and Sinopec Shanghai Petrochemical Company have obtained a patent for a "metal membrane dust removal device and its working method" with the announcement number CN116020207B, applied for on October 2021 [1] Company Overview - China Petroleum & Chemical Corporation was established in 2000 and is based in Beijing, primarily engaged in oil and gas extraction. The company has a registered capital of 12,173,968.9893 million RMB. It has invested in 268 companies, participated in 5,000 bidding projects, holds 45 trademark registrations, 5,000 patents, and possesses 41 administrative licenses [1] - Sinopec Shanghai Petrochemical Company was founded in 1993 and is located in Shanghai, focusing on the oil, coal, and other fuel processing industries. The company has a registered capital of 1,079,928.55 million RMB. It has invested in 22 companies, participated in 5,000 bidding projects, holds 51 trademark registrations, 1,331 patents, and has 12,789 administrative licenses [1]

Group 1 - Blue Ocean New Materials (Tongzhou Bay) Co., Ltd. has obtained a patent for "Preparation of Polyimide Film by Chemical Imidization Method and Its Continuous Production System and Process" with authorization announcement number CN120900545B, application date September 2025 [1] - Blue Ocean New Materials was established in 2024, located in Nantong City, primarily engaged in the petroleum, coal, and other fuel processing industries, with a registered capital of 800 million RMB [1] - The company has participated in 624 bidding projects and holds 6 patents, along with 16 administrative licenses [1] Group 2 - China National Petroleum Corporation (CNPC) was established in 1990, located in Beijing, primarily engaged in oil and gas extraction, with a registered capital of 48.69 billion RMB [1] - CNPC has made investments in 111 companies, participated in 5000 bidding projects, and holds 1446 trademark records and 5000 patent records, along with 28 administrative licenses [1] Group 3 - China Kunlun Engineering Co., Ltd. was established in 1986, located in Beijing, primarily engaged in civil engineering and construction, with a registered capital of 60.02 million RMB [2] - The company has invested in 5 enterprises, participated in 5000 bidding projects, holds 367 patents, and has 14 administrative licenses [2]

Core Insights - From January to October, the total profit of industrial enterprises above designated size in China reached 59,502.9 billion yuan, representing a year-on-year increase of 1.9% [1] Group 1: Overall Profit Performance - State-owned enterprises achieved a total profit of 18,490.2 billion yuan, remaining flat year-on-year [1] - Joint-stock enterprises reported a total profit of 44,328.3 billion yuan, an increase of 1.5% [1] - Foreign and Hong Kong, Macao, and Taiwan-invested enterprises realized a total profit of 14,848.6 billion yuan, growing by 3.5% [1] - Private enterprises recorded a total profit of 16,995.6 billion yuan, up by 1.9% [1] Group 2: Sector-Specific Profit Analysis - The mining industry saw a total profit of 7,123.3 billion yuan, a decline of 27.8% year-on-year [1] - The manufacturing sector achieved a total profit of 45,050.3 billion yuan, reflecting a growth of 7.7% [1] - The electricity, heat, gas, and water production and supply industry reported a total profit of 7,329.3 billion yuan, increasing by 9.5% [1] Group 3: Major Industry Profit Changes - The non-ferrous metal smelting and rolling processing industry experienced a profit increase of 14.0% [2] - The electricity and heat production and supply industry grew by 13.1% [2] - The computer, communication, and other electronic equipment manufacturing industry saw a profit rise of 12.8% [2] - The agricultural and sideline food processing industry increased by 8.5% [2] - The automotive manufacturing industry grew by 4.4% [2] - The black metal smelting and rolling processing industry turned from loss to profit, totaling 105.3 billion yuan [2] - The petroleum, coal, and other fuel processing industries reported a reduction in losses, while the chemical raw materials and chemical products manufacturing industry declined by 5.4% [2]

Core Insights - The total profit of industrial enterprises above designated size in China reached 59,502.9 billion yuan from January to October, reflecting a year-on-year growth of 1.9% on a comparable basis [1] Industry Performance Summary - Non-ferrous metal smelting and rolling processing industry saw a profit increase of 14.0% year-on-year [1] - The electricity and heat production and supply industry experienced a profit growth of 13.1% [1] - The computer, communication, and other electronic equipment manufacturing industry reported a profit increase of 12.8% [1] - The agricultural and sideline food processing industry achieved a profit growth of 8.5% [1] - The electrical machinery and equipment manufacturing industry grew by 7.0% [1] - The general equipment manufacturing industry saw a profit increase of 6.2% [1] - The specialized equipment manufacturing industry reported a profit growth of 5.0% [1] - The automobile manufacturing industry experienced a profit increase of 4.4% [1] - The non-metallic mineral products industry saw a profit growth of 1.0% [1] - The black metal smelting and rolling processing industry turned from loss to profit [1] - The petroleum, coal, and other fuel processing industry reduced its losses year-on-year [1] - The chemical raw materials and chemical products manufacturing industry declined by 5.4% [1] - The textile industry reported a decline of 6.1% [1] - The oil and gas extraction industry experienced a decline of 12.5% [1] - The coal mining and washing industry saw a significant decline of 49.2% [1]