JPPETCH@EC2606A(15917.HK)

The Shangai Composite Index Closes 0.05% Lower

The Shangai Composite Index fell -2 points or 0.05 percent on Monday to close at 4134 points.Leading the losses are Aisino (-7.04%), Avic Shenyang Aircraft (-4.88%) and BAIC BluePark (-4.62%).Top gainers were China Molybdenum (7.34%), China Railway (7.16%) and Petrochina (6.00%).

China's core photovoltaic materials have achieved a key breakthrough, and the gas-phase method for producing polyolefin elastomers has been scaled up for production

China has made a key breakthrough in the core material of photovoltaic polyolefin elastomers, achieving large-scale production using the gas-phase method at the Dushanzi Petrochemical in Xinjiang. This progress will effectively reduce dependence on imports. Polyolefin elastomers combine the processability of plastics with the high elasticity of rubber, making them a core raw material for emerging industries such as photovoltaics. Since 2015, technicians have been dedicated to tackling this technology, and it is expected that by 2025, Dushanzi Petrochemical will have produced a cumulative total of 58,000 tons

China Petroleum & Chemical's 2025 Crude Oil Production Down 0.8%

China Petroleum & Chemical Corp :SAYS 2025 CRUDE OIL PRODUCTION DOWN 0.8%

China's naphtha imports to rise ahead of tax revamp, traders say

China's naphtha imports are expected to rise in early 2026 as traders prepare for a new consumption tax of 2,105 yuan ($302) per ton, which will increase costs for domestic suppliers. This tax, aimed at closing loopholes and boosting state revenue, is anticipated to pressure margins for petrochemical producers, particularly state-owned refiners. Analysts predict that importers will seek additional naphtha supplies in anticipation of reduced domestic demand due to the tax. CNOOC has already increased its naphtha purchases significantly this January compared to last year.

On Thursday, Venezuelan lawmakers will discuss oil reform issues that will allow foreign companies to produce and sell oil