Core Viewpoint - The A-share market has reached a new record, with the Shanghai Composite Index closing at 4083.67 points, marking a 1.50% increase and breaking a ten-year high since July 2015, supported by a strong performance across various sectors and increased trading volume [1][2]. Market Performance - The A-share market exhibited a comprehensive upward trend, with significant contributions from the financial, materials, and technology sectors, driven by ongoing policy benefits and accelerated industrial trends [2]. - The financial sector, particularly securities and insurance, played a crucial role in supporting the Shanghai Composite Index above 4000 points, with companies like New China Life Insurance and China Pacific Insurance reaching new highs [2]. - The cyclical sector saw notable gains due to improved supply-demand dynamics, with the metals sector, including companies like Zijin Mining, experiencing significant price increases [2]. Emerging Trends - The technology and emerging industries continued to show structural growth, particularly in the brain-computer interface sector, which has become a hot topic, with companies like Beiyikang and Weisi Medical seeing substantial stock price increases [3]. - The brain-computer interface market in China is projected to exceed 120 billion yuan by 2040, with a compound annual growth rate of approximately 26%, indicating its potential as a key growth area in the global market [3]. Trading Volume and Capital Flow - The recent market rally is characterized by a significant increase in both trading volume and price, with the Shanghai Composite Index rising nearly 7% since December 17, 2025, and total market turnover increasing from 1.8 trillion yuan to 2.8 trillion yuan [4]. - Various funding sources, including foreign capital and margin trading, have contributed to this volume increase, with margin trading balances reaching a historical high of 25,606.48 billion yuan [4]. Institutional Outlook - Institutions are generally optimistic about the A-share market's future performance, attributing the current rally to a confluence of favorable policies, capital influx, and strong fundamentals [6]. - Analysts suggest that the ongoing "spring rally" has room for further development, with a focus on sectors benefiting from AI investments and global manufacturing recovery, such as industrial resources and equipment exports [7].

连板股方面，胜通能源13连板，嘉美包装13天11板，锋龙股份8连板，*ST东易10天7板，鲁信创投、ST 八菱8天6板，雷科防务5连板，北斗星通、中国卫通6天4板，御银股份5天4板，南兴股份、友邦吊顶4连 板，国晟科技、海格通信5天3板，城建发展、索菱股份等3连板，山子高科、合众思壮4天2板，*ST步 森、航天电子3天2板，岩山科技、立昂微等2连板，金风科技、*ST松发等涨停。 登云股份、ST得润跌停。 1月6日，A股全天下来共有143只涨停股、2只跌停股。PVC概念活跃，氯碱化工、中泰化学等涨停；证 券IT概念走强，大智慧涨停；小金属板块上涨，锡业股份、安宁股份等涨停。 ...

Market Performance - The Shanghai Composite Index rose by 1.14% to 4069.38 points, reaching a new high in over 10 years [1] - The Shenzhen Component Index increased by 0.81% to 13940.24 points, while the ChiNext Index fell by 0.04% to 3293.18 points [1] - The total trading volume in the Shanghai and Shenzhen markets was 178.13 billion yuan, with over 3600 stocks rising [1] Sector Performance - The leading sectors included brain-computer interfaces, chemical engineering, non-ferrous metals, insurance, securities, semiconductors, and photovoltaic equipment [2][3] - The non-ferrous metals sector saw a significant increase of 4.05%, while non-bank financials and oil & petrochemicals rose by 3.27% and 2.95%, respectively [3] - The brain-computer interface sector experienced a surge, with multiple stocks hitting the daily limit [3] Institutional Insights - Huatai Securities anticipates a strengthening spring market, recommending investments in growth sectors such as electric equipment and renewable energy, as well as domestic demand improvement themes [4] - CITIC Securities suggests that the cross-year market will exhibit characteristics of "growth leading and liquor accumulating," with a focus on sectors like snacks and dairy [5] - Guoxin Securities predicts that 2026 will be a significant year for the market, supported by favorable macro policies and improving corporate earnings [6] Emerging Opportunities - Guoxin Securities highlights the potential for 2026 to be the year of reusable commercial rockets, driven by the need for cost-effective launch solutions [7] - Tianfeng Securities expresses optimism about the growth potential in high-end consumer sectors such as cosmetics, gold jewelry, and duty-free shopping [8]

（文章来源：每日经济新闻） 每经AI快讯，1月6日早盘，化工板块震荡走强，盐化工方向领涨，中泰化学、潞化科技、氯碱化工涨 停，维远股份、华尔泰、君正集团、金牛化工跟涨。 ...

基础化工行业 行业研究 | 行业周报 PX 价格上涨触发石化企业行情，行业存长 期修复机遇 核心观点 投资建议与投资标的 ⚫ 炼化行业我们推荐相关龙头企业中国石化(600028，买入)、荣盛石化(002493，买 入)、恒力石化(600346，买入)；同时，我们持续看好化工各子行业景气复苏机遇， 如 MDI 龙头：万华化学(600309，买入) ；PVC 行业，相关企业包括：中泰化学 (002092，未评级)、新疆天业(600075，未评级)、氯碱化工(600618，未评级)、天 原股份(002386，未评级)。以及景气度持续性受储能高速增长拉动的磷化工中相关 标的包括：川恒股份(002895，未评级)、云天化(600096，未评级)等。草酸行业 中，建议关注：华鲁恒升(600426，买入)、华谊集团(600623，买入)、万凯新材 (301216，买入)。 风险提示 ⚫ 需求不及预期；海外市场供需情况变化；油价大幅波动。 国家/地区 中国 行业 基础化工行业 报告发布日期 2026 年 01 月 04 日 看好（维持） | 倪吉 | 执业证书编号：S0860517120003 | | --- | --- | ...

2020-2025年1-10月中国纯碱(碳酸钠)产量统计图 上市企业：远兴能源（000683）,三友化工（600409）,山东海化（000822）,双环科技（000707）,氯碱化 工（600618）,金晶科技（600586）,湖北宜化（000422）,云图控股（002539）,和邦生物（603077） 相关报告：智研咨询发布的《2025-2031年中国纯碱行业市场专项调研及竞争战略分析报告》 根据国家统计局数据显示：2025年10月中国纯碱(碳酸钠)产量为341万吨，同比增长2.9%；2025年1-10 月中国纯碱(碳酸钠)累计产量为3301.7万吨，累计增长5.2%。 数据来源：国家统计局，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 ...

Core Viewpoint - Chlor-alkali Chemical, a leading domestic caustic soda enterprise, is intensifying its focus on green chemistry by investing in a comprehensive waste salt utilization project, aiming to enhance its competitive edge in the industry and expand into the South China and Southeast Asia markets [1] Group 1: Investment and Project Details - Chlor-alkali Chemical plans to increase its investment in its wholly-owned subsidiary, Guangxi Huayi Chlor-alkali Chemical Co., by 893 million yuan to support a 2.975 billion yuan advanced materials waste salt utilization project [1] - The project will include production facilities for 300,000 tons/year of caustic soda, 250,000 tons/year of vinyl chloride, and 300,000 tons/year of polyvinyl chloride, with a construction period of 24 months and an expected return on investment of 7.84% [1][2] - The total investment of 2.975 billion yuan will be funded through the new capital injection and self-raised funds, with the registered capital of Guangxi Huayi Chlor-alkali increasing from 3.13575 billion yuan to 4.02839 billion yuan [1] Group 2: Circular Economy and Market Demand - The project aims to achieve waste resource utilization by using waste salt generated from acetaminophen and epoxy resin projects as raw materials for caustic soda production, forming a circular economy chain [2] - There is a strong demand for caustic soda in the South China region, particularly from the alumina, paper, and new energy industries, indicating a supply gap that the project aims to fill [2] Group 3: Strategic Positioning and Financial Performance - The project is a key part of Chlor-alkali Chemical's strategy to optimize its "Shanghai + Guangxi" dual-base layout, enhancing resource allocation and cost savings while expanding its operational scale [3] - As of September 2025, Guangxi Huayi Chlor-alkali's total assets were 7.690 billion yuan, with a debt ratio of 56.61%, indicating a reasonable financial position within the industry [3] - The company's revenue has shown a slight increase from 6.664 billion yuan in 2021 to 8.185 billion yuan in 2024, while net profit has fluctuated, dropping from 1.772 billion yuan to 787 million yuan during the same period [3] Group 4: Shareholder Returns - Despite facing operational challenges, Chlor-alkali Chemical has been generous in returning value to shareholders, distributing cash dividends totaling 2.297 billion yuan since its listing in 1992, with a high payout ratio of 3322.1% [4]

Group 1 - China Shenhua plans to issue A-shares and pay cash to acquire assets from its controlling shareholder, China Energy Group, and its wholly-owned subsidiary, West Energy, for a total transaction price of 133.598 billion yuan, with 30% paid in shares and 70% in cash [1][4] - Qingdao Port intends to invest approximately 15.7 billion yuan in two terminal projects [4] - Jifeng Co., Ltd. has been awarded a total assembly project for passenger car seats, with an estimated total lifecycle value of 9.8 billion yuan [4] Group 2 - Shengxin Lithium Energy's partner, Zhongxin Aviation, plans to purchase 200,000 tons of lithium salt products from the company between 2026 and 2030 [4] - Chlor-alkali Chemical's subsidiary plans to invest 2.975 billion yuan in an advanced materials supporting waste salt comprehensive utilization project [4] - Tianqi Lithium's third-phase chemical-grade lithium concentrate expansion project has been completed and is now in trial operation [4] Group 3 - Oriental Cable has recently won projects totaling approximately 3.125 billion yuan [4] - Jiangshan Luneng has signed a series of contracts totaling approximately 815 million yuan [4] - Huahai Wenkang has produced over 800 CMP equipment units [4] Group 4 - Sichuan Chengyu's subsidiary plans to acquire 85% of Jingyi Company for 2.409 billion yuan [4] - Qi Yi Er intends to acquire 60% of Fangzhou Technology through acquisition and capital increase [4] - Tianchuang Fashion is planning a change of control, resulting in a stock suspension [4]

（文章来源：证券日报） 证券日报网讯 12月19日晚间，氯碱化工发布公告称，公司第十一届董事会第二十一次会议审议通过 《关于广西华谊氯碱化工有限公司投资先进材料配套废盐综合利用项目及增资的议案》《关于"十五 五"产业规划编制的议案》《关于签订蒸汽供应合同的议案》等多项议案。 ...

Core Viewpoint - Chlor-alkali Chemical announced the signing of a steam supply contract with Guotou Qinzhou Second Power Co., Ltd., which will significantly enhance its operational capabilities and secure a long-term supply of steam for its production processes [1] Group 1: Contract Details - The contract involves a total steam procurement of approximately 336,000 tons per year, divided into two phases: 144,000 tons per year for the first phase and 192,000 tons per year for the second phase [1] - The duration of the contract is set for 20 years, ensuring a stable supply of steam for the company's operations [1] - The agreement was approved by the company's board of directors and does not require shareholder approval [1]