阿尔—法季今年早些时候表示，中国政府持续推进制造业升级和新兴产业快速成长，这一趋势正推动化 工行业向智能化、高端化、可持续化方向加速发展，也为沙特基础工业公司创造了巨大成长机遇。他还 表示，沙特基础工业公司将继续加强与中国企业、研究机构和产业链伙伴的合作，创新与合作是实现可 持续增长的核心驱动力，中国市场无疑是公司全球战略布局的核心组成部分。 沙特国际电力和水务公司（ACWA Power）本年度正式在中国可再生能源市场开展业务。今年1月，公 司宣布签署了横跨中国多个省份的可再生能源项目协议，首批项目的总装机量将超过1吉瓦。今年3月， 公司宣布其首个海外创新中心在上海市浦东新区正式启用，一期投资额为2000万元人民币，目前设 有"研发中心"及"绿色能源实验室"，聚焦光伏、风电、储能、绿色氢能及海水淡化五大领域的创新研 发。 纳赛尔表示，中国是沙特阿美重要的战略市场，沙特阿美与中国伙伴长期保持着出色的合作关系。公司 将持续推进在华投资，双方合作前景广阔。 沙特基础工业公司（SABIC）近日召开2025年二季度财报发布会，公司首席执行官阿卜杜拉哈曼·阿尔 —法季在会上强调，沙特基础工业公司在中国的福建石化综合体项目 ...

Report Summary 1. Report Industry Investment Rating No relevant content provided. 2. Core Views - **Pure Benzene**: Supply increases slightly due to new oil - benzene device production, while hydro - benzene开工率 drops. Demand from phenol rises but is partly offset by the decline in adipic acid. Overall demand is flat. Inventory decreases at East China ports due to typhoon - affected arrivals. 8 - 9月 may see slight inventory reduction, but improvement is limited due to high hidden inventory and weak consumption [5]. - **Styrene**: Supply is sufficient with new device production and resumed operations. Demand is weak, with EPS开工率 dropping significantly and PS/ABS rising slightly. Port inventory doesn't increase but remains high. Mid - term supply pressure persists with new capacity planned. The strong pure benzene price provides some support, and the macro - environment helps sentiment, but fundamental positives are limited [6]. 3. Summary by Directory 3.1. Daily Market Summary - **Fundamentals** - **Price**: On August 12, styrene futures rose 0.99% to 7322 yuan/ton with a basis of 28 (- 27 yuan/ton), and pure benzene futures rose 0.32% to 6250 yuan/ton [4]. - **Cost**: On August 12, Brent crude closed at 64.0 (+0.1 dollar/barrel), WTI at 66.6 (+0.0 dollar/barrel), and East China pure benzene spot was 6180 yuan/ton (+20 yuan/ton) [4]. - **Inventory**: Styrene factory inventory was 21.1 (-0.6) million tons, a 2.71% decrease; Jiangsu port inventory was 14.9 (-1.0) million tons, a 6.42% decrease. Pure benzene port inventory was 14.6 (-1.7) million tons, a 10.43% decrease [4]. - **Supply**: A new styrene device in Shandong was put into operation. Weekly styrene output was 35.9 (-0.2) million tons, and capacity utilization was 77.7% (-1.2%) [4]. - **Demand**: Among styrene's downstream 3S, EPS capacity utilization dropped 10.6% to 43.7%, ABS rose 5.2% to 71.1%, and PS rose 1.7% to 55.0% [4]. 3.2. Industry Chain Data Monitoring - **Price**: Styrene futures and spot prices rose slightly on August 12 compared to August 11, while the basis decreased. Pure benzene futures, East China spot, and some international prices also changed, with different price differences showing various trends [8]. - **Output and Inventory**: From August 1 to August 8, styrene output decreased by 0.63% to 35.9 million tons, and pure benzene output increased by 2.36% to 44.6 million tons. Styrene and pure benzene inventories at ports and factories all decreased [9]. - **Capacity Utilization**: From August 1 to August 8, the capacity utilization of styrene and some pure - benzene downstream products changed. EPS capacity utilization dropped significantly, while ABS and PS increased [10]. 3.3. Industry News - China's shale cracking raw material supply issues may push up naphtha costs, with an expected record - high naphtha import of 16 - 17 million tons in 2025 [11]. - Global diesel shortage supports refinery profits, affecting the crude oil and chemical chains [11]. - India plans to accelerate petrochemical expansion to counter China's dominance [11]. 3.4. Industry Chain Data Charts The report provides multiple charts showing the historical data of pure benzene and styrene prices, price differences, inventory, and capacity utilization [16][19][21]

Group 1 - The company announced the convening of the third board meeting and the third supervisory board meeting on August 13, 2025, to review the proposal for the repurchase and cancellation of certain restricted stocks from the 2024 first phase stock option and restricted stock incentive plan [1] - The board agreed to repurchase and cancel a total of 20,000 restricted stocks from one incentive object who has terminated their employment relationship, at a repurchase price of 18.154 yuan per share [1] - This matter is subject to approval at the shareholders' meeting [1]

证券代码：603255 证券简称：鼎际得 公告编号：2025-031 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 辽宁鼎际得石化股份有限公司 一、监事会会议召开情况 辽宁鼎际得石化股份有限公司（以下简称"公司"）第三届监事会第八次会 议通知于 2025 年 8 月 10 日以书面及通讯方式发出，会议于 2025 年 8 月 13 日以 现场的方式召开举行。会议应到监事 3 人，实到监事 3 人。本次会议由监事会主 席张寨旭先生主持，会议的召集和召开符合《中华人民共和国公司法》等有关法 律法规及《辽宁鼎际得石化股份有限公司章程》的规定。 二、监事会会议审议情况 经与会监事审议表决，形成的会议决议如下： （一）审议通过了《关于增加 2025 年度为子公司提供担保额度预计的议案》 议案内容：具体内容详见同日刊载于上海证券交易所网站（www.sse.com.cn） 的《辽宁鼎际得石化股份有限公司关于增加 2025 年度为子公司提供担保额度预 计的公告》。 表决结果：同意票数 3 票，反对票数 0 票，弃权票数 0 票。 本议案尚需 ...

Core Viewpoint - The company announced the repurchase and cancellation of 20,000 restricted stocks from an incentive plan due to the termination of employment of one of the incentive recipients, with a repurchase price set at 18.154 yuan per share [1][5][6]. Summary by Sections Decision Process and Disclosure - The company held meetings to approve the repurchase of restricted stocks and confirmed that independent directors and legal advisors provided necessary opinions and documentation [1][3][4]. - The company conducted a self-examination regarding insider trading prior to the public disclosure of the incentive plan and found no violations [2]. Repurchase Details - The repurchase involves 20,000 shares of restricted stock at a price of 18.154 yuan per share, totaling 363,080 yuan, funded by the company's own resources [5][6]. - The repurchase was necessitated by the termination of employment of the incentive recipient, which disqualified them from holding the restricted stocks [5][6]. Impact on Share Structure - Following the repurchase, the total number of shares will decrease from 134,611,667 to 134,591,667, with no change in the controlling shareholder or actual controller [8]. - The proportion of restricted and unrestricted shares will remain largely unchanged, with the repurchase not affecting the overall equity structure significantly [8]. Company’s Financial Position - The repurchase and cancellation of the restricted stocks are not expected to have a substantial impact on the company's financial status or operational results [8][9]. - The management team will continue to fulfill their responsibilities diligently to create value for shareholders [8]. Legal Opinions - The legal advisor confirmed that the repurchase has obtained necessary approvals and complies with relevant regulations and the company's incentive plan [9].

Core Insights - The 2025 city ranking in Zhejiang Province reveals diverse development paths for 11 cities, contributing to a competitive modern urban network in the Yangtze River Delta region [1] Group 1: New First-tier Cities - Hangzhou retains its position as the leading new first-tier city with a score of 89.55, solidifying its status as the digital economy capital [1] - Ningbo ascends to the new first-tier city category with a score of 49.20, showcasing its dual-core driving force through the Ningbo-Zhoushan Port and a burgeoning green petrochemical industry [3] Group 2: Second-tier Cities - Cities like Wenzhou (38.97), Jinhua (34.27), and Jiaxing (30.08) maintain their positions in the second-tier category, each demonstrating unique strengths such as Wenzhou's vibrant private economy and Jinhua's international trade hub [1][3] Group 3: Emerging Cities - Quzhou, classified as a third-tier city, is transforming into a digital economy hub with significant growth in strategic emerging industries, supported by the establishment of regional headquarters for 68 listed companies [4] - Zhoushan, a fourth-tier city, is leveraging its marine economy with significant oil and gas throughput, contributing to the development of a blue economy [6][7]

在"油制化学品"(COTC)战略方面，沙特阿美财报显示，2025年上半年其下游业务消耗了公司约54%的 原油总产量。近年来公司持续强调2030年前实现400万桶/日液体原料直供石化生产的目标。沙特阿美 CEO阿明·纳赛尔表示："我们的长期战略基于对碳氢化合物在全球能源和化学品市场中持续发挥作用的 判断，已准备好满足客户短期和长期的原料需求。" 沙特阿美旗下化工企业沙特基础工业(SABIC)公告显示，二季度净亏损扩大至40.7亿里亚尔，较一季度 12.1亿里亚尔的亏损额增长超两倍，亏损主因是全球产能过剩、利润率下降及需求整体疲软带来的持续 市场压力。 中化新网讯 近日，在2025年上半年财报发布会上，沙特阿美披露，该公司当期开发中的旗舰石化项目 支出同比增长33.1%，达191.3亿沙特里亚尔，二季度石化项目资本投资支出环比增长22.3%，达105.3亿 里亚尔。沙特阿美表示，支出增长主要得益于资本项目按计划稳步推进，包括在韩国、中国和沙特建设 的大型石化综合体项目。 据介绍，在韩国，由S-Oil合资公司在韩国蔚山开发的Shaheen一体化炼油与裂解项目已完成约75%。在 中国，由阿美石油、华北华锦化工和盘锦新 ...

Core Viewpoint - LG Chem's petrochemical business reported a significant decline in revenue and operating profit in the second quarter, attributed to external factors such as U.S. tariff disputes and geopolitical tensions in the Middle East [1] Financial Performance - The petrochemical business revenue reached 4.6 trillion KRW (approximately 3.3 billion USD), a year-on-year decrease of 5.7% [1] - The operating loss for the petrochemical division was 90 billion KRW, compared to an operating profit of 46 billion KRW in the same period last year [1] - The advanced materials division saw a 50% drop in operating profit to 71 billion KRW, with sales declining by 34.6% to 1 trillion KRW [1] Market Outlook - LG Chem maintains a cautiously optimistic outlook for its petrochemical business, despite ongoing uncertainties related to U.S. tariffs [1] - The company plans to enhance profitability through normalization of new production capacity and ongoing cost reduction measures [1]

Core Insights - The launch of pure benzene futures and options on July 8, 2025, marks a significant development in China's financial instruments for the chemical industry, providing a new platform for risk management and price discovery [1][2][3] Group 1: Industry Impact - The introduction of pure benzene futures and options is expected to provide a transparent and efficient risk management platform for upstream and downstream enterprises in the petrochemical industry, positively influencing industry development [3][4] - As the world's largest producer of aromatics, China's need for a public and efficient price discovery mechanism for pure benzene has become urgent, especially in the face of market volatility [3][4] - The listing of these financial instruments is aligned with the goal of enhancing the competitiveness of the petrochemical industry and promoting high-quality development [2][4][5] Group 2: Regional Development - Dalian, as a key petrochemical industry base in China, aims to develop a high-end, intelligent, and green petrochemical industry cluster, with the launch of pure benzene futures and options providing timely support for this initiative [2][3] - The local government emphasizes the importance of these financial tools in enhancing the core competitiveness of the regional petrochemical industry [2][3] Group 3: Market Dynamics - The pure benzene futures and options are expected to help enterprises lock in procurement or sales prices quickly, thereby mitigating risks associated with price fluctuations [4][5] - The establishment of a pricing benchmark through these instruments will enhance the pricing transparency of the industry and increase China's influence in international markets [4][5] Group 4: Future Outlook - The Dalian Commodity Exchange (DCE) aims to deepen its service to the chemical industry, with the launch of pure benzene futures and options being a step towards enhancing the global pricing influence of China's petrochemical sector [5][6] - The DCE has now listed over 40 futures and options products, indicating a significant expansion in its capacity to serve the real economy [6]

Group 1: Macroeconomic Trends - Recent fluctuations in treasury futures are driven by macroeconomic data and policy changes, with the Ministry of Finance announcing the resumption of VAT on interest income from newly issued government bonds starting August 8, leading to increased demand for older bonds [1] - Domestic economic resilience is evident, with a rising risk appetite in the A-share market and the central bank maintaining ample liquidity, while the Federal Reserve keeps interest rates unchanged, causing upward momentum in treasury futures to weaken [1] Group 2: Trade Performance - In July 2025, China's total import and export volume reached $545.32 billion, a year-on-year increase of 5.9%, with exports at $321.78 billion, up 7.2%, outperforming market expectations [2] - The increase in exports is attributed to fluctuating U.S. tariff policies, leading to a "rush to export" effect, particularly with accelerated growth in exports to the EU, South Korea, Taiwan, and Belt and Road countries, despite a significant decline in exports to the U.S. [2] Group 3: Import Dynamics - Import growth continued to rebound in July, driven by rising prices of bulk commodities, with the CRB index increasing from 3.5% in June to 6.0% year-on-year, positively impacting both import volume and value [3] - The decline in imports from the U.S. narrowed from 15.5% to 10.3%, indicating a slight alleviation of the overall import pressure [3] Group 4: Price Levels - The Consumer Price Index (CPI) remained flat year-on-year in July, with a slight decrease in the growth rate compared to June, while the core CPI increased by 0.1 percentage points to 0.8%, the highest since March 2024 [4] - Food prices showed a moderate improvement, with the year-on-year growth rate of fresh vegetables and pork prices contributing to a downward adjustment in CPI [4] Group 5: Producer Price Index (PPI) Trends - The Producer Price Index (PPI) decreased by 3.6% year-on-year in July, consistent with June, reflecting low construction industry sentiment and price pressures in export-oriented sectors due to international trade uncertainties [5] - Recent government meetings emphasized maintaining a "moderately loose" monetary policy, indicating that the foundation for a "bull market" in bonds remains solid, although upward momentum in the bond market may weaken due to economic resilience and commodity price recovery [5]