TECHNOLOGY FOCUS - INORGANIC CHEMISTRY - Preferred Components: The poor quality raw oil is heavy petroleum hydrocarbon and / or other residual mineral oil; the heavy petroleum hydrocarbon is decompressed residual oil, poor quality atmospheric pressure residue oil, poor quality hydrogenated residual oil, coking gas oil, deasphalted oil, high acid crude oil, or high metal crude oil, and other mineral oil is coal liquefied oil, deasphalted oil, or shale oil. The poor quality raw oil properties satisfy at least one of the following index: density is 900-1000 kg/m3, residual carbon is 4-15 wt.%, the metal content is 15-600 ppm, the acid value is 0.5-20 mg potassium hydroxide (KOH)/g. The light raw oil is liquefied gas, gasoline or diesel. The cold shock medium is cold shock agent, cooled regenerated catalyst, semi cooled regenerated catalyst, spent catalyst or fresh catalyst; the cold shock agent is liquefied gas, crude gasoline, stable gasoline, diesel oil, or water; the cooled regenerated catalyst and semi cooled regenerated catalyst is obtained by carrying out two-stage regeneration of spent catalyst, diesel oil or water and regenerative cooling. The catalytic conversion catalyst comprises 1-50% zeolite, 5-99% inorganic oxide and 0-70% clay (optionally), which accounts for catalyst total weight. Zeolite is used as active component, which is mesoporous zeolite and/or macroporous zeolite (optionally), where the mesoporous zeolite is zeolite socony mobil (ZSM) series zeolite and/or ZRP zeolite, and macroporous zeolite is rare earth Y zeolite, rare earth hydrogen Y zeolite, ultra-stable Y zeolite obtained by different method, or high silica Y constituted zeolite. The catalytic wax oil hydrogenation treatment catalyst active metal component is group VIB metal and/or group VIII non-noble metal; the carrier is alumina, silicon dioxide, or amorphous silica-alumina. Preferred Method: The condition of first reaction area is: the reaction temperature is 510-650 degrees C, preferably 520-600 degrees C, the reaction time is 0.05-1 second, preferably 0.1-0.5 second, the weight ratio of raw material oil and catalyst is 3-15:1, preferably 4-12:1, the weight ratio of water vapor and raw material oil is 0.03-0.3:1, preferably 0.05-0.2:1, the pressure is 130-450 kPa. The condition of second reaction area is: the reaction temperature is 420-550 degrees C, preferably 460-530 degrees C, the reaction time is 1.5-20 seconds, preferably 2-10 seconds. In the method, propane, 4C hydrocarbon or diesel and the light raw material oil enters into the second reaction area. The deasphalted solvent is propane, butane, pentane, hexane, heptane, gasoline, or isopropanol; the mass ratio of catalytic gas oil and solvent is 0.5-5:1, the pressure is 0.1-5 MPa, the temperature is 48-370 degrees C. The filtered deasphalted solvent catalytic wax oil, uses high temperature filtration of porous metal screen backwash system, where the temperature is 200-370 degrees C, the pressure is 0.1-7.1 MPa. The absorbed deasphalted solvent catalytic wax oil, uses adsorbent which is molecule sieve, bentonite, clay, diatomite, alumina, silicon glue, activated carbon, active coke, or perlite, where the temperature is 90-400 degrees C, the pressure is 0.1-3 MPa, and weight hourly space velocity is 0.1-100/hour. The catalytic wax oil hydrogenation process is carried out in the presence of hydrogen, the catalytic wax oil and hydrogenation process catalyst contact, the hydrogen pressure is 3- 20 MPa, the reaction temperature is 300-450 degrees C, the volume ratio of hydrogenated oil is 300-2000 vol./vol., the volume space velocity is 0.1-3/hour under low reaction condition of reaction process.