看好我国农药制剂出海企业的增长机遇 见微知著，终端市场主体结构的变化也一定程度验证了该行前期润丰股份深度报告对全球农化价值链重 塑的观点。即本土经营者希望摆脱传统跨国公司的垄断去自主选择供应商，而打破垄断格局下的价值泡 沫也是终端种植者喜闻乐见的变局;让农化产品回归生产资料，让农民获得更多价值。这一格局重塑的 背景下，在终端市场能够快速满足需求迭代的中国企业有望把握增长的先机。 全球农化产业链历经两年多的去库周期基本完结，具备底部复苏潜力。尤其作为全球最大的农化市场 国，巴西的需求复苏将带来较大边际拉动。23/24种植年巴西因为局部干旱和洪涝等极端天气影响导致 作物减产，叠加粮食价格下跌，农民收入预期下滑并打压农资采购和现金支付意愿，恶化的需求也传导 至上游渠道和工厂端。而今年以来，随着巴西天气条件改善及其长周期种植面积的持续提升，巴西国家 供应公司(CONAB)今年多次上调了24/25年巴西大豆玉米的产量预期，预计产量同比增幅都在15%左 右。同时CBOT粮食期货结算价在今年销售季也基本企稳，农民收入预期得到改善，推动产业链各环节 的需求复苏。需求压制的解除推动了我国农药制剂出口量的同比增长及部分原药价格在 ...

截至7月30日收盘，玉米概念上涨1.38%，位居概念板块涨幅第4，板块内，27股上涨，骑士乳业、康农 种业、北大荒等涨幅居前，分别上涨9.28%、5.30%、3.67%。跌幅居前的有广宇集团、*ST万方、史丹 利等，分别下跌1.78%、1.17%、0.98%。 资金面上看，今日玉米概念板块获主力资金净流入1.94亿元，其中，15股获主力资金净流入，11股主力 资金净流入超千万元，净流入资金居首的是隆平高科，今日主力资金净流入4349.32万元，净流入资金 居前的还有新安股份、川宁生物、登海种业等，主力资金分别净流入3888.69万元、3701.69万元、 2944.61万元。 | 000713 | 丰乐种 | 0.97 | 6.50 | 1739.87 | 5.99 | | --- | --- | --- | --- | --- | --- | | | 业 | | | | | | 601952 | 苏垦农 | 1.54 | 1.41 | 1678.38 | 8.74 | | | 发 | | | | | | 600354 | 敦煌种 业 | 3.39 | 10.15 | 1468.08 | 4.12 | | 6 ...

Group 1 - Zhejiang Xinanyu Silicon Technology Co., Ltd. has been established with a registered capital of 15 million yuan [1][2] - The company's business scope includes sales of synthetic materials, high-quality synthetic rubber, rubber products, and industrial textile products [1][2] - The company is jointly held by Zhejiang Lide Organic Silicon Materials Co., Ltd. and other entities under Xin'an Chemical Group Co., Ltd. [1][2] Group 2 - The company is located in Jiande City, Hangzhou, Zhejiang Province, and is registered with the Jiande Market Supervision Administration [2] - The legal representative of the company is Mao Jiu, and it is classified as a limited liability company [2] - The company is expected to operate until September 9, 9999, indicating a long-term business outlook [2]

| 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 002215 | 诺普信 | -3.24 | 8.15 | -8061.71 | | 603077 | 和邦生物 | -0.51 | 1.66 | -3692.63 | | 600141 | 兴发集团 | 0.47 | 1.43 | -3548.31 | | 603599 | 广信股份 | -1.06 | 2.01 | -2654.98 | | 603970 | 中农立华 | -1.10 | 2.47 | -1697.34 | | 300575 | 中旗股份 | -2.75 | 10.51 | -1589.99 | | 002258 | 利尔化学 | -0.79 | 2.31 | -1568.94 | | 301665 | 泰禾股份 | -1.56 | 9.43 | -1222.90 | | 300927 | 江天化学 | -1.84 | 3.83 | -1203.32 | | 600389 | 江山股份 | 0.13 | 1.51 | -872.1 ...

Investment Rating - The report maintains a recommendation for the chemical industry, indicating a positive outlook due to the anticipated benefits from anti-involution policies [2]. Core Insights - The chemical industry is expected to benefit from the implementation of anti-involution policies, which aim to reduce unhealthy competition and improve pricing structures [13][14]. - The report highlights that certain chemical products are currently at historical low prices, suggesting potential for price recovery as market conditions improve [15]. - The focus is on eight specific products with significant price recovery potential: spandex, organic silicon, PVC, titanium dioxide, soda ash, propylene oxide, glyphosate, and TDI [15]. Summary by Sections Anti-Involution Policies - The government is committed to addressing "involution-style" competition, with plans for new policies to stabilize key industries including chemicals [13][14]. - The aim is to eliminate low-cost sales practices that have led to unsustainable pricing and profitability issues within the industry [14]. Spandex Market - Spandex prices have reached historical lows, with a steady increase in production and inventory pressures [19][22]. - The spandex market is dominated by major players such as Huafeng Chemical and Xinxiang Chemical Fiber, which hold significant market shares [29][40]. Organic Silicon Market - Organic silicon prices are at a five-year low, with a diverse range of applications across various industries [44][49]. - The industry is characterized by limited new capacity additions, with major producers like Hoshine Silicon and Dongyue Group leading the market [55]. PVC Market - PVC is a widely used plastic, primarily in the real estate sector, and is expected to benefit from the consolidation of production capacity [6][19]. - Key companies in the PVC market include Zhongtai Chemical and Xinjiang Tianye, which are positioned to capitalize on market recovery [6]. Titanium Dioxide Market - Titanium dioxide prices have hit five-year lows, with high inventory levels impacting profitability [6][19]. - Major players in this sector include China Nuclear Titanium Dioxide and Longbai Group, which are expected to navigate the challenging market conditions [6]. Soda Ash Market - The soda ash market is facing high inventory levels, with significant applications in real estate and photovoltaic industries [6][19]. - Key companies include Boyuan Chemical and Shandong Haihua, which are well-positioned to benefit from future demand recovery [6]. Propylene Oxide Market - Propylene oxide has a low concentration of production capacity, with broad applications across various sectors [6][19]. - Key players include Binhai Chemical and Weiyuan Chemical, which are expected to benefit from market dynamics [6]. Glyphosate Market - Glyphosate is the most widely used herbicide globally, with increasing demand driven by rising agricultural output [6][19]. - Major companies in this space include Xingfa Group and Jiangshan Chemical, which are positioned to benefit from a favorable market environment [6]. TDI Market - TDI supply-demand dynamics remain tight due to production disruptions, with significant barriers to entry for new players [6][19]. - Key companies include Cangzhou Dahua and Wanhua Chemical, which are expected to maintain strong market positions [6].

Investment Rating - The report maintains a "Positive" investment rating for the chemical industry [11] Core Insights - The report emphasizes the importance of addressing "involution" in the chemical industry, with multiple government meetings in 2024 highlighting the need to combat "malicious competition" and promote product quality [6][16] - The focus is on identifying potential investment opportunities within the chemical sector that can benefit from the government's "anti-involution" policies [17] Summary by Sections Why Focus on Chemical Industry Investment Opportunities? - The report outlines the government's commitment to addressing "involution" through various meetings and policy announcements, including the emphasis on supply-side structural reforms and the need for industry self-discipline [6][16] - The report suggests that the chemical industry can find opportunities under the current "anti-involution" policies, particularly through the identification of sectors with stable supply-demand dynamics [17] Which Sub-industries May Benefit from Anti-involution? - The report identifies several sub-industries likely to benefit from the anti-involution policies, including: 1. Comprehensive Chain: Chromium salts, caustic soda, industrial silicon, organic silicon 2. Agricultural Chain: Glyphosate, urea, methanol, sucralose/aspartame, MSG, lysine 3. Real Estate Chain: PVC, soda ash, titanium dioxide, MDI/TDI 4. Electronics Chain: Photoinitiators, refrigerants R134a/R32 5. Textile Chain: Dyes, viscose staple fiber, spandex, viscose filament, polyester filament 6. Automotive Chain: Polyester industrial yarn [7][8][20] Investment Recommendations - The report recommends focusing on sub-industries that meet specific criteria such as slowing capacity growth, high operating rates, high concentration, minimal cost differences among leading companies, and products at the bottom of the price cycle [8][9] - Key sub-industries to watch include organic silicon, polyester filament, photoinitiators, glyphosate, industrial silicon, and MSG/amino acids, with specific companies highlighted for potential investment [9][29]

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硅能源板块走高，新安股份（600596）、恒星科技（002132）涨停，硅宝科技（300019）、弘元绿能 （603185）、大全能源、亿晶光电（600537）、TCL中环（002129）等跟涨。 暗盘资金正涌入这些股票，点击速看>>> ...

Group 1 - The humanoid robot concept stocks are experiencing a surge, with Changsheng Bearing (300718) rising over 15% [1] - Jinfa Technology (600143) and Sichuan Jinding (600678) have reached the daily limit up [1] - Xin'an Co., Ltd. (600596), Wolong Electric Drive (600580), and Zhongdali De (002896) are among the top gainers [1] Group 2 - Yushu Technology has initiated the listing guidance process as per the China Securities Regulatory Commission [1]

Investment Rating - The report maintains an "Outperform" rating for the basic chemical industry [2] Core Viewpoints - The basic chemical sector has outperformed the market, with the industry index rising by 1.8% from July 11 to July 18, compared to a 0.7% increase in the Shanghai Composite Index [9][20] - The report highlights significant price increases in TDI, glyphosate, and glufosinate due to supply disruptions and rising demand, particularly in South America [6][31][33] Summary by Sections 1. Core Viewpoints - The basic chemical sector is expected to benefit from supply-side reforms and improved demand due to recent government policies aimed at stabilizing the economy [17] - The report emphasizes the potential for long-term investment in core assets as the profitability of chemical products has likely bottomed out, suggesting a recovery in valuations [17][18] 2. Overall Performance of the Chemical Sector - The basic chemical industry index has shown a year-to-date increase of 10.8%, outperforming both the Shanghai Composite and ChiNext indices by 5.4% and 4.5%, respectively [20][26] 3. Individual Stock Performance in the Chemical Sector - Among 424 stocks in the basic chemical sector, 251 stocks rose while 162 fell during the reporting week, with notable gainers including Shangwei New Materials (+148.8%) and Dongcai Technology (+33.2%) [29][30] 4. Key News and Company Announcements - A fire at Covestro's TDI plant in Germany has led to significant supply disruptions, creating opportunities for price increases in TDI [31][32] - Glyphosate prices have increased to 25,500 CNY per ton, reflecting a 7.16% month-over-month rise, driven by reduced inventory levels [33] - New regulations on glufosinate are expected to constrain supply, potentially leading to price increases as the market adjusts [34]