China Petroleum's stock price and market capitalization both hit new highs, making a strong return to the top of the A-share market capitalization rankings

Amid the turbulence of the capital markets, China National Petroleum Corporation (CNPC) has once again become the focus. Today, the company’s stock closed at 13.24 yuan per share, up 0.68%, with the total market value of A-shares rising to approximately 2.14 trillion yuan, surpassing Agricultural Bank of China and reclaiming the top spot in A-share market capitalization. This achievement marks China National Petroleum’s strong market performance after years of fluctuations.

Recently, due to geopolitical tensions and changes in the global energy supply and demand landscape, the oil sector has become a market hotspot. The “Big Three” oil companies—China National Petroleum Corporation, Sinopec, and China National Offshore Oil Corporation—have performed particularly well in the secondary market. On March 2nd and 3rd, these three companies’ stocks hit the daily limit-up for consecutive days, setting a record for the first time with two consecutive limit-ups. However, on March 4th, market trends diverged: China National Petroleum continued its upward trend, while Sinopec and CNOOC declined by 5.37% and 1.29%, respectively.

Looking back at the history of market cap champions in the A-share market, China National Petroleum has not been a stranger to the top spot. The company briefly held the position in 2018. Since 2019, Industrial and Commercial Bank of China and Kweichow Moutai have been strong contenders for the market cap crown, alternating at the top. Until August 6, 2025, when Agricultural Bank of China first claimed the A-share market cap title and maintained it for 136 trading days, until China National Petroleum surpassed it.