Core Viewpoint - Lio Co. and Heshun Petroleum announced plans to invest significant amounts of their idle funds in securities, marking a shift from previous low-risk investment strategies to include stock investments [1][2][5]. Group 1: Investment Plans - Lio Co. plans to use up to 3 billion yuan (approximately 30 billion) of its own funds for securities investment, with a focus on stocks and depositary receipts, among other investment methods [2][3]. - Heshun Petroleum intends to invest up to 200 million yuan (approximately 2 billion) of its idle funds in securities, also including stocks and depositary receipts [5]. - Both companies have set a 12-month authorization period for these investment plans, starting from the board's approval date [2][5]. Group 2: Previous Investment Strategies - Previously, both companies had announced intentions to use idle funds for low-risk financial products, such as bank deposits and wealth management, without including stock investments [6][8]. - Lio Co. had previously planned to use up to 3 billion yuan for cash management, focusing on low-risk, high-liquidity financial products [6]. Group 3: Market Reactions - Investors have expressed mixed reactions, questioning why the companies are choosing to invest in stocks instead of repurchasing their own shares [2][9]. - Lio Co. last mentioned share repurchase on September 24, 2024, with a total of 278 million shares repurchased for approximately 400 million yuan [9]. - Heshun Petroleum's last share repurchase was on March 15, 2023, totaling 2.976 million shares for about 5.54 million yuan [9]. Group 4: Financial Performance - Lio Co.'s net profit figures have shown volatility, with net profits of -441 million yuan, 1.966 billion yuan, and -259 million yuan from 2022 to 2024 [11]. - Heshun Petroleum has experienced a decline in net profits, reporting figures of 104 million yuan, 52.23 million yuan, and 29.27 million yuan over the same period [12].

Core Viewpoint - Lio Co. plans to invest up to 3 billion yuan in securities, including stock investments, aiming to enhance capital efficiency and returns [2][7][17]. Group 1: Investment Plans - Lio Co. intends to use no more than 3 billion yuan of its own funds for securities investment, with an authorization period of 12 months from the board's approval [2][7]. - The investment methods include new stock placements, stock and depositary receipt investments, bond investments, and entrusted financial management [7][9]. - Heshun Petroleum also announced plans to invest up to 200 million yuan of idle funds in securities, with a similar 12-month authorization period [4][9]. Group 2: Market Reactions - Investors have expressed mixed reactions, with some questioning why companies are investing in stocks instead of repurchasing their own shares [16][18]. - The stock prices of Lio Co. and Heshun Petroleum showed a decline and slight increase, respectively, indicating market sentiment towards these investment decisions [22]. Group 3: Financial Performance - Lio Co.'s financial performance has been volatile, with net profits of -441 million yuan in 2022, 1.966 billion yuan in 2023, and -259 million yuan in 2024 [21][22]. - Heshun Petroleum has also faced declining profits, with net profits of 104 million yuan in 2022, 52 million yuan in 2023, and 29 million yuan in 2024 [23][24].

商务部消费促进司负责人表示，近年来，随着我国经济社会发展，国内成品油市场出现了一些新情况新 问题，对行业管理提出了新要求。为规范国内成品油市场秩序，引导行业健康有序发展，商务部出台了 《办法》。下一步，商务部将指导地方商务主管部门准确理解和把握《办法》内容，依法履职尽责，推 动成品油市场健康发展。 中化新网讯 8月1日，商务部发布《成品油流通管理办法》(以下简称《办法》)，完善成品油流通管理体 制机制，推动成品油流通高质量发展。《办法》将于2025年9月1日起实施。 《办法》共六章44条，主要明确成品油流通管理总体要求、备案管理和经营资格许可具体要求、企业经 营应遵循的规范要求、各级商务主管部门的监管责任、对相关违规行为的处罚、相关定义和实施要求六 方面内容。 ...

● 据新华社电 记者1日从商务部获悉，商务部近日印发《成品油流通管理办法》，将于2025年9月1日起实施。 办法共六章44条。在备案管理和经营资格许可方面，规定批发仓储企业备案规则、备案实施、备案变更 与备案回执注销，零售经营资格许可部门、零售许可条件、许可申请材料、许可程序时限、许可变更事 项及费用规定等；在规范企业经营方面，提出成品油经营企业依法合规经营、完善管理制度、报送购销 存数据等要求，明确企业新建改扩建、歇业、油品购销、标识使用等方面经营规范；在监督管理方面， 对地方提出建立企业名录、编制零售体系规划、日常检查、年度检查、数智化监管和分级监管等管理要 求；在法律责任方面，规定不予备案及撤销备案回执、不予许可、撤销许可、注销许可、行政处罚等情 形，明确监督管理责任。 ...

商务部消费促进司负责人介绍，近年来，随着我国经济社会发展，国内成品油市场出现了一些新情况新 问题，对行业管理提出了新要求。2025年1月《国务院办公厅关于推动成品油流通高质量发展的意见》 印发，为进一步落实意见精神，规范国内成品油市场秩序，引导行业健康有序发展，商务部出台了办 法。下一步，商务部将指导地方商务主管部门准确理解和把握办法内容，依法履职尽责，推动成品油市 场健康发展。（记者谢希瑶） 新华社北京8月1日电 记者1日从商务部获悉，商务部近日印发《成品油流通管理办法》，将于2025年9 月1日起实施。 办法共六章44条。在备案管理和经营资格许可方面，规定批发仓储企业备案规则、备案实施、备案变更 与备案回执注销，零售经营资格许可部门、零售许可条件、许可申请材料、许可程序时限、许可变更事 项及费用规定等；在规范企业经营方面，提出成品油经营企业依法合规经营、完善管理制度、报送购销 存数据等要求，明确企业新建改扩建、歇业、油品购销、标识使用等方面经营规范；在监督管理方面， 对地方提出建立企业名录、编制零售体系规划、日常检查、年度检查、数智化监管和分级监管等管理要 求；在法律责任方面，规定不予备案及撤销备案回执、 ...

新华社北京8月1日电（记者谢希瑶）记者1日从商务部获悉，商务部近日印发《成品油流通管理办 法》，将于2025年9月1日起实施。 办法共六章44条。在备案管理和经营资格许可方面，规定批发仓储企业备案规则、备案实施、备案变更 与备案回执注销，零售经营资格许可部门、零售许可条件、许可申请材料、许可程序时限、许可变更事 项及费用规定等；在规范企业经营方面，提出成品油经营企业依法合规经营、完善管理制度、报送购销 存数据等要求，明确企业新建改扩建、歇业、油品购销、标识使用等方面经营规范；在监督管理方面， 对地方提出建立企业名录、编制零售体系规划、日常检查、年度检查、数智化监管和分级监管等管理要 求；在法律责任方面，规定不予备案及撤销备案回执、不予许可、撤销许可、注销许可、行政处罚等情 形，明确监督管理责任。 商务部消费促进司负责人介绍，近年来，随着我国经济社会发展，国内成品油市场出现了一些新情况新 问题，对行业管理提出了新要求。2025年1月《国务院办公厅关于推动成品油流通高质量发展的意见》 印发，为进一步落实意见精神，规范国内成品油市场秩序，引导行业健康有序发展，商务部出台了办 法。下一步，商务部将指导地方商务主管部门 ...

第五章法律责任，规定不予备案及撤销备案回执、不予许可、撤销许可、注销许可、行政处罚等情 形，明确监督管理责任。 第六章附则，规定了办法的相关名词解释、实施细则、解释权限及实施时间等。 第三章企业经营规范，提出成品油经营企业依法合规经营、完善管理制度、报送购销存数据等要 求，明确企业新建改扩建、歇业、油品购销、标识使用等方面经营规范。 第四章监督管理，对地方提出建立企业名录、编制零售体系规划、日常检查、年度检查、数智化监 管和分级监管等管理要求。 央视网消息：据商务部网站消息，商务部近日发布《成品油流通管理办法》（以下简称《办 法》），完善成品油流通管理体制机制，推动成品油流通高质量发展。《办法》将于2025年9月1日起实 施。《办法》共六章44条。 第一章总则，明确立法目的、适用范围、管理方式、管理职责和行业自律。 第二章备案管理和经营资格许可，规定批发仓储企业备案规则、备案实施、备案变更与备案回执注 销，零售经营资格许可部门、零售许可条件、许可申请材料、许可程序时限、颁证原则、证书有效期、 证书版式、证书使用规范、许可变更事项及费用规定等。 ...

Core Viewpoint - The Ministry of Commerce has clarified the "Regulations on the Management of Refined Oil Circulation," which will take effect on September 1, establishing a framework for administrative penalties for violations [1] Group 1: Regulatory Framework - The regulations specify penalties for various violations, including failure to file for record, revocation of record receipts, denial of permits, and cancellation of licenses [1] - The penalties are categorized based on the severity of the violations, ensuring that the punishment is proportional to the offense [1] Group 2: Implementation and Guidance - The Ministry of Commerce will enhance training and publicity to help local commerce authorities understand and implement the regulations effectively [1] - The goal is to promote the healthy development of the refined oil market through proper enforcement of the regulations [1]

Core Points - The "Regulations on the Management of Refined Oil Circulation" have been approved by the Ministry of Commerce and will take effect on September 1, 2025 [1][28] - The regulations aim to strengthen the management of refined oil circulation, standardize business practices, maintain order in domestic circulation, protect the rights of operators and consumers, and promote high-quality development in the refined oil circulation sector [2] Chapter Summaries General Principles - The regulations are established to enhance the management of refined oil circulation and ensure compliance with relevant laws and regulations within China [2][3] - The Ministry of Commerce is responsible for formulating national policies for the supervision and management of refined oil circulation [3] Filing Management and Business Qualification Licensing - The Ministry of Commerce will create a unified operational guide for the filing of refined oil wholesale and storage enterprises, detailing the filing process and required materials [4][5] - Enterprises must apply for retail business qualifications through designated local government departments, meeting specific conditions and submitting necessary documentation [5][8] Business Operation Standards - Refined oil enterprises must comply with various legal and regulatory standards, maintain accurate records of oil purchases and sales, and implement safety management systems [19][20] - The regulations prohibit unauthorized construction or expansion of retail outlets and require enterprises to report any changes in their filing information within 30 days [22][24] Legal Responsibilities - Enterprises that provide false information during the filing or licensing process may face penalties, including warnings and fines [34][35] - Local government departments are required to enforce compliance and may revoke licenses if enterprises fail to meet the established conditions [36][37] Implementation and Effectiveness - The regulations encourage the use of technology, such as big data and IoT, to enhance the management and oversight of refined oil circulation [21] - The Ministry of Commerce will oversee the implementation of these regulations, which are set to take effect on September 1, 2025 [28]