Core Viewpoint - Lanstone Group has signed a strategic cooperation agreement with Russia's Prompark Group to leverage their respective strengths for business upgrades and market expansion in the chemical machinery sector, aiming to create a benchmark project for Sino-Russian international capacity cooperation and achieve long-term win-win results [1][3] Group 1 - Lanstone Group possesses world-class technical strength and production capacity in high-end pressure vessels and large forging equipment, with mature experience in localized services for core products like pressure vessels and heat exchangers in Russia [3] - The cooperation aims to explore new models for the synergistic development of equipment technology exports and bulk commodity trade, promoting deep integration of "Lanstone Manufacturing" with local industries in Russia [3] Group 2 - Prompark Group's subsidiary, Wuyi Chemical Machinery Co., is a key project in Tambov Oblast, having stable channel resources and customer bases in Russia [3] - The partnership is seen as an important step for both parties to adapt to industrial upgrading trends and expand international cooperation opportunities, with Prompark Group committed to deepening collaboration in technology and production planning [3]

作为锦州石化特色优势产品，高纯异丙醇凭借纯度高、质量稳定的优势，不仅在国内市场占据一席之 地，还发往国外市场开展批量测试。该产品可用于超纯净电子级异丙醇的生产，其产出品可适配芯片、 光伏等高端电子产品的清洗工序，为电子信息产业高质量发展提供可靠支撑，市场竞争力凸显 锦州石化营销团队锚定"国内深耕、海外拓展"的战略目标，以精准的客户挖掘和高效的全流程服务，推 动产品销量与市场份额实现跨越式增长。为推动高纯异丙醇产能稳步提升，锦州石化还聚焦生产全流程 管控，将务实措施精准落地，同时调动班组积极性释放产能、提升效率，生产与营销部门高效联动，规 范出厂全流程操作，严把质量最后一关。 中化新网讯 1月，锦州石化高纯异丙醇单月产销输出量首次突破千吨大关，创历史最高纪录。 ...

赵丽认为，当前焦煤供应相对充足，但后期民营煤矿有逐步放假计划。临近春节，焦化厂集中补库基本 接近尾声，需求放缓。焦炭第一轮价格提涨将于1月30日落地，之后暂无继续提涨预期。整体来看，春 节前市场有望逐步企稳，2月国内煤炭市场价格将以趋稳运行为主。 混沌天成期货分析则显示，近日北方区域供应端有所收紧，出货顺畅且库存偏低，随着焦炭提涨全面落 地，焦化厂后期将以积极出货为主。下游钢厂延续高位到货，场内延续增库态势。整体看焦炭基本面相 对平衡，年前行情趋于弱稳。 据卓创资讯数据，唐山市场主流钢厂对湿熄焦炭价格上调50元(吨价，下同)、干熄焦价格上调55元;邢 台、天津地区部分钢厂对湿熄焦炭价格上调50元、干熄焦炭价格上调55元;石家庄地区个别钢厂对湿熄 焦炭价格上调50元、干熄焦炭价格上调55元，均于2026年1月30日零时起执行。 "1月全国焦煤市场先涨后降，整体下行。截至月底，山西吕梁地区主焦煤S<1出矿主流成交价格1450～ 1500元，较上月底降25元;山东济宁地区气精煤S<1出矿主流成交价格950～1030元，较上月底降50 元。"卓创资讯焦煤分析师赵丽表示，焦煤市场整体下行主要受多方面因素影响。供应方面， ...

中化新网讯 万华化学集团股份有限公司近日发布公告，拟以自有资金及自筹资金对全资子公司万华化 学集团(烟台)烯烃有限公司进行增资，增资总额合计190.86亿元。 增资后，万华烯烃公司注册资本将由30亿元增加至40亿元，仍然为万华化学的全资子公司。目前万华化 学持有的碳二产业资产为一套120万吨/年以乙烷+石脑油为原料的乙烯装置及配套的低密度聚乙烯装置 等相关资产，万华烯烃公司持有的资产为一套120万吨/年以乙烷为原料的乙烯装置及下游PO/SM装置、 高密度聚乙烯装置、线型低密度聚乙烯装置、聚氯乙烯装置等相关资产。 当前，万华化学已构建起"聚氨酯+石化+新兴材料"三大核心板块协同发展的全产业链布局，形成多业 务支撑的稳健发展格局。其中，石化业务当前已成为万华化学营收的主要来源，而碳二产业链则是该板 块的重点布局。去年前三季度，该公司石化系列产品实现销售收入593.19亿元，产销量均大幅增长，实 现产量183万吨，销量175万吨，同比分别增长41%、33%。 目前，万华化学重点布局碳二产业链，烟台产业园乙烯一期装置原料改造已全部完成，实现了乙烷、丙 烷两种原料可以切换的柔性进料方式，不仅降低对进口原料的依赖，更能为 ...

Group 1: Biomass Gasification Project - The "Donghua Furnace," developed by Donghua Engineering Technology Co., is a biomass gasification device that successfully converts agricultural waste into synthesis gas, significantly reducing carbon emissions by 70% to 90% compared to fossil fuels [4][6] - The project aims to enhance the value of agricultural waste and promote local economic development while ensuring ecological protection [6][7] - The team is focused on continuous optimization of the gasification process and aims to replicate the technology in other regions [7] Group 2: Hydrogen Production Project - The "Hydrogen Boat" project in Panzhihua, utilizing "concentrated solar water splitting" technology, is set to produce approximately 200 tons of hydrogen annually by December 2025 [8][10] - The technology boasts a hydrogen production efficiency significantly higher than current global standards, with a cost projection of 8 to 12 yuan per kilogram for large-scale production [10][11] - The project has garnered interest from multiple government entities and enterprises, indicating strong market potential for green hydrogen applications in industries such as metallurgy and chemicals [9][12] Group 3: Geothermal Heating in Xiong'an - Xiong'an New Area has implemented geothermal heating, replacing traditional coal heating and achieving significant reductions in carbon emissions, with one heating season replacing 4,847 tons of standard coal [15][16] - The geothermal system utilizes underground heat sources and has expanded to cover the entire urban area, with over 100 geothermal stations operational [16][19] - The integration of geothermal energy with other renewable sources is being explored to create a smart energy microgrid, enhancing energy efficiency and sustainability [18][19] Group 4: Controlled Nuclear Fusion Research - New Hope Group has made significant advancements in controlled nuclear fusion, with the "Xuanlong-50U" device achieving several world-first milestones in fusion technology [22][23] - The project aims to make fusion energy a viable and clean energy source within the next two decades, addressing the growing global energy demand [21][22] - The team emphasizes the importance of talent development and collaboration with various research institutions to support the long-term goals of fusion energy commercialization [23]

Core Viewpoint - The year 2026 marks the beginning of the "14th Five-Year Plan" and is crucial for China's modernization journey, with China Five Ring Engineering Co., Ltd. (China Five Ring) committing to a dual-function transformation of "technology + engineering" to achieve high-quality development and aim for a "100 billion Five Ring" vision [1][6] Group 1: Innovation and Technology - In 2026, China Five Ring will focus on the "three new and one green" strategy, driving both original and open innovation [2] - The company aims to break through key core technologies in critical fields such as phosphorus-fluorine chemicals and high-efficiency catalysts, with a goal of launching 2-3 proprietary green process packages within the year [2] - The establishment of a research institute and the strengthening of pilot platforms and incubation centers will facilitate the transition of laboratory results to production lines [2] Group 2: Industrial Transformation - China Five Ring will pursue a dual approach of focusing on both traditional and emerging sectors, enhancing value in traditional areas like ammonia processing and coal chemicals through smart and green upgrades [3] - The company plans to expand into new markets, targeting 3-5 new overseas projects in countries like Iraq and Kenya while deepening its presence in traditional markets such as Indonesia and Egypt [3] - A comprehensive lifecycle solution combining technology, engineering, and operations will be provided to clients, aligning with national strategies [3] Group 3: Governance and Reform - The company will implement internal reforms to enhance governance, including a clear responsibility list and a focus on performance management [4] - A standardized design library will be constructed to improve modular reuse rates, and cash flow management will be prioritized to ensure financial security [4] - The application of an IDP platform will enable data-driven decision-making, while risk prevention measures will be strengthened [4] Group 4: Cultural Development - China Five Ring will promote a culture of innovation and execution through initiatives like the "Star Project Party Branch" and the "Star River Plan" talent program [5] - The company aims to enhance its brand and cultural presence through various initiatives, including the establishment of a digital storytelling platform and cultural festivals [5] - A focus on the "six diligence" spirit will drive efforts to improve execution and combat low-quality work [5]

Core Viewpoint - The ABS industry is entering a new development cycle in 2026, characterized by over ten million tons of total production capacity, despite a significant slowdown in new capacity additions. The market is shifting towards stock competition and structural optimization due to previous capacity accumulation and evolving demand [1][2]. Group 1: Capacity and Market Dynamics - In 2026, the pace of new ABS capacity additions is slowing, with only a few projects planned, and many large projects postponed to later years. This marks the end of a rapid expansion period with an average annual growth rate of about 16% since 2020 [2]. - The supply situation remains loose despite the decline in capacity growth, with excess supply expected to persist throughout the year. The core market issue has shifted from general oversupply to deeper structural adjustments and consolidation [2]. - Integrated leading companies like PetroChina and Zhejiang Petrochemical have established solid barriers in cost control through their full industry chain layout, maintaining a strong market position [2]. Group 2: Raw Material Costs and Profitability - The core costs of ABS are influenced by three main raw materials: styrene, acrylonitrile, and butadiene, with styrene having the most significant impact on profits. The styrene industry has seen rapid capacity expansion, exceeding 11%, leading to a historical high in inventory due to weak demand from downstream sectors [3]. - In 2026, the planned new capacity for styrene is significantly reduced, with only one unit expected to come online, indicating a shift from rapid expansion to stable development, which may help rebalance the market [3]. - The profitability of the ABS market remains under pressure, with head companies potentially having thin profit margins, while smaller companies face severe survival challenges due to lack of scale and cost control [4]. Group 3: Demand Trends and Market Outlook - ABS demand is closely linked to macroeconomic conditions and the performance of end industries, particularly in the home appliance, automotive, and electronics sectors, with home appliances accounting for over 50% of demand [5]. - The "old-for-new" policy in home appliances is expected to support ABS demand in 2025, but its impact is anticipated to weaken in 2026 due to reduced fiscal subsidies and increased eligibility requirements [6]. - The importance of the export market is growing, especially in the automotive sector, which is expected to continue strong growth in 2026. However, domestic ABS products still face structural shortcomings, relying heavily on imports for high-performance grades [6].

现货市场看，涨幅前五名的石化产品分别为异丁醛上涨4.12%、五水硫酸铜上涨4.00%、甲酸上涨 3.83%、三羟甲基丙烷上涨3.82%、焦炭上涨3.77%；跌幅前五名的石化产品分别为盐酸下跌11.63%、工 业级氢氧化锂下跌8.28%、电池级氢氧化锂下跌7.05%、工业级碳酸锂下跌6.29%、电池级碳酸锂下跌 6.21%。 资本市场看，涨幅前五名的上市化企分别为神剑股份上涨28.07%、坤彩科技上涨19.05%、海翔药业上 涨18.64%、富淼科技上涨17.94%、润贝航科上涨16.35%；跌幅前五名的上市化企分别为斯迪克下跌 16.68%、龙高股份下跌15.19%、氯碱化工下跌13.45%、科创新源下跌13.43%、国恩股份下跌12.97%。 中化新网讯 上周(2月2日至6日)，受国际金价大幅回调等影响，7个指数样本中仅化学制药指数上涨。 化工板块方面，化工原料指数累计下跌2.02%、化工机械指数累计下跌2.22%、化学制药指数累计上涨 0.64%、农药化肥指数累计下跌3.51%；石油板块方面，石油加工指数累计下跌1.52%、石油开采指数累 计下跌2.60%、石油贸易指数累计下跌1.33%。 上周，国际原油 ...

中化新网讯 中国石化仪征化纤公司再生涤纶短纤继续保持良好增长态势，1月该产品订货量比去年同期 增加40%，产量同比增加34%。 2月3日，该公司合纤三部开发装置正在加紧排产，全力保证春节前后的用户需求。该公司合纤三部开发 装置自2021年初开始研发生产高附加值再生涤纶短纤以来，在强化原料管控，建立原料指标追溯体系， 提升切片供应稳定性基础上，优化生产工艺，保障生产稳定，加快技术创新，严把质量关口，并主动对 接自销团队，全面满足后道用户需求。2025年，仪征化纤高附加值再生涤纶短纤产销量突破1万吨，成 为其循环再利用领域首个万吨级拳头产品。 ...

Core Viewpoint - Jianghan Oilfield Fuling Shale Gas Company has achieved a stable start in production and sales of shale gas in January, producing 588 million cubic meters and selling 565 million cubic meters, focusing on safety and production stability [1] Group 1: Production and Sales Performance - The company produced 588 million cubic meters of shale gas in January [1] - The sales volume of shale gas reached 565 million cubic meters, indicating a strong start for both production and sales [1] Group 2: Operational Strategy - The company emphasizes the core goals of "safety excellence and stable production" [1] - Focus areas include increasing output from new wells, maintaining output from old wells, and releasing production capacity [1] Group 3: Technological Innovations - The company is actively promoting process innovation and practical implementation [1] - Various technical measures such as intelligent foam drainage, sand removal, gas lifting, and scientific allocation have been implemented to support stable daily production [1]