每当夜幕降临，宁夏宁东国家级能源化工基地（以下简称"宁东基地"）的灯火渐次亮起，宛若星河垂落，为这片 雄踞能源"金三角"的西北大地披上柔光。那连绵的光辉，不仅映照着土地的轮廓，更跃动着产业勃发的强劲脉 搏。 科技引领，集群成势：从"标杆企业"到"热带雨林"式产业生态 以宝丰能源、国能宁煤、泰和新材等为代表的龙头企业，不仅是宁东基地的产业基石，更是驱动产业集群化创新 发展的核心引擎。它们共同支撑起一个多元化、高能级的现代产业体系，推动宁东从单个企业"一枝独秀"迈向产 业集群"百花齐放"的发展新阶段。 2024年，宁东基地工业总产值突破2000亿元大关，连续跻身全国化工园区前十强，其现代煤化工产业成功入选国 家级先进制造业集群。产值数字背后，是基地坚定向产业链下游高附加值环节延伸的战略定力，推动产品结构从 大宗基础原料向高端专用化学品、化工新材料跃升。 通过深入推进"补链延链强链"举措，宁东基地系统规划并布局了下游高附加值产业。一方面，坚持以科技创新为 引领，推动现有龙头企业向产业链下游拓展，着力生产高密度聚乙烯、EVA等高附加值化工新材料；另一方面， 充分发挥煤化工在甲醇、氢气等基础原料方面的优势，积极开展产业 ...

化工板块迎来开门红，消息面上，2026年2月18日，美国宣布将磷和草甘膦列入战略资源。此外印度尿 素招标（印标）价格已创下阶段性新高，东海岸 CFR 512 美元/吨、西海岸 CFR 508 美元/吨，较 1 月招 标大涨约85 美元/吨，折合人民币约3500元/吨。 国金证券指出，油价上涨可能带动化工品涨价预期，而如果地缘风险溢价回落则行业成本压力下降，考 虑到国内未来产业反内卷的政策方向，有利于化工产业的长期格局优化及高质量发展，建议长期关注中 下游化工龙头企业。 化工ETF(159870)，场外联接(A：014942；C：014943；I：022792)。 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 截至2026年2月24日 13:33，中证细分化工产业主题指数(000813)强势上涨3.50%，成分股和邦生物上涨 10.08%，云天化上涨10.01%，川发龙蟒上涨10.00%，兴发集团，扬农化工等个股跟涨。化工 ETF(159870)上涨3.64%，最新价报0.94元。 化工ETF紧密跟踪中证细分化工产业主题指数，中证细分产业主题指数系列由细分有色、细分机械等7 条指数组成 ...

Investment Rating - The report maintains a "Positive" rating for the chemical industry [4][3]. Core Insights - The macroeconomic outlook for the chemical industry indicates a stable increase in oil demand due to global economic recovery and tariff adjustments, with Brent crude oil expected to remain in the range of $60-75 per barrel [4][5]. - The report highlights a potential spring boom in the chemical sector, driven by the success of domestic robotics showcased during the Spring Festival and favorable export conditions following tariff reductions [4][3]. - Investment opportunities are identified in various chains, including textiles, agricultural chemicals, and overseas real estate, with specific companies recommended for investment [4][3]. Industry Dynamics - Oil supply is tightening due to OPEC+ production delays and peak shale oil output, while demand is stabilizing with improved global economic conditions [5]. - The chemical industry is at a cyclical turning point, with downstream operations gradually resuming post-holiday, indicating a positive demand outlook for the year [4][3]. - The report notes that the Producer Price Index (PPI) for industrial products decreased by 1.4% year-on-year in January, while the manufacturing PMI recorded 49.3, indicating some volatility in manufacturing activity [7][4]. Investment Analysis - The report suggests a diversified investment strategy focusing on four key areas: textiles, agricultural chemicals, export chains, and beneficiaries of "anti-involution" policies [4][3]. - Specific companies to watch include those in the textile chain like Lu Xi Chemical and Tongkun Co., and in the agricultural chain like Hualu Hengsheng and Baofeng Energy [4][3]. - The report emphasizes the importance of self-sufficiency in key materials, particularly in semiconductor and panel materials, recommending companies such as Yake Technology and Ruilian New Materials [4][3].

截至2026年2月13日收盘，宝丰能源（600989）报收于23.03元，较上周的22.61元上涨1.86%。本周，宝 丰能源2月12日盘中最高价报24.25元。2月9日盘中最低价报22.58元。宝丰能源当前最新总市值1688.87 亿元，在化学原料板块市值排名1/57，在两市A股市值排名102/5189。 本周关注点 公司公告汇总 宁夏宝丰能源集团股份有限公司接到东毅国际通知，其所持公司250,000,000股股份已于2026年2月12日 解除质押，占其所持股份比例12.5%，占公司总股本比例3.41%。本次解除质押后，东毅国际累计质押 公司股份25,000,000股，占其所持股份的1.25%，占公司总股本的0.34%。东毅国际本次提前解除质押旨 在优化融资成本。股东及其一致行动人合计持股5,166,211,270股，占公司总股本70.45%，累计质押股份 866,810,000股，占其所持股份比例16.78%，占公司总股本比例11.82%。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 公司公告汇总：东毅国际解除质押2.5亿股 ...

宁夏宝丰能源集团股份有限公司股份解除质押公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示: 证券代码：600989 证券简称：宝丰能源 公告编号：2026-007 | 持股比例 | 27.27% | | --- | --- | | 剩余被质押股份数量 | 25,000,000 股 | | 剩余被质押股份数量占其所持股份比例 | 1.25% | | 剩余被质押股份数量占公司总股本比例 | 0.34% | 东毅国际本次提前解除相应股权质押，旨在优化其公司的融资成本。 截至目前，实际控制人控制的企业东毅国际集团有限公司（以下简称"东 毅国际"）持有公司股份 2,000,000,000 股，占公司总股本的 27.27%；本次部 分股份解除质押后，累计质押公司股份 25,000,000 股，占其所持公司股份的 1.25%，占公司总股本的 0.34%。 一、上市公司股份质押 公司于 2026 年 2 月 12 日接到东毅国际通知，获悉其所持有本公司的部分股 份办理了解除质押登记，具体情况如下。 1.本次解除股份质押基本情 ...

Group 1 - Chemical ETF rose by 2.10%, outperforming the Shanghai Composite Index by 2.01 percentage points [1] - PTA production cut confirmed by Xin Feng Ming, with 2.5 million tons of PTA capacity being taken offline, indicating a tightening supply which supports the recovery of PTA profit margins [1] - Gotion High-Tech signed a strategic cooperation memorandum with BASF to focus on next-generation solid-state battery technology, with expectations for small-scale production of all-solid-state batteries by CATL in 2027 [1] - Zhejiang Longsheng raised the price of disperse dyes by 2000 yuan/ton, marking a potential turning point in the industry due to supply discipline and cost anchoring [1] Group 2 - The 14th Five-Year Plan will promote carbon peak measures, with restrictions on high-energy-consuming products expected to be implemented, indicating a clearer turning point for the chemical industry [2] - The real estate sector is showing signs of stabilization, particularly in first-tier cities, which may lead to a gradual recovery in the industry, highlighting investment opportunities in the chemical real estate chain [2] - The CSI sub-industry chemical theme index (000813) rose by 2.32%, with significant gains in stocks such as Xinzhou Bang (up 8.16%) and Tongkun Co. (up 7.82%) [2] Group 3 - As of January 30, 2026, the top ten weighted stocks in the CSI sub-industry chemical theme index (000813) accounted for 44.82% of the index, including Wanhua Chemical and Yilong Co. [3]

经济观察网宝丰能源（600989）(600989.SH)股价在2026年2月11日出现异动，单日上涨2.15%，收盘报 23.73元。此次股价表现主要受到公司基本面、行业周期预期及短期市场情绪的共同影响。 业绩经营情况 公司于2026年1月15日发布的2025年年度业绩预增公告是核心驱动因素。公告预计2025年归母净利润为 110亿元至120亿元，同比增长73.57%至89.34%。业绩大幅增长主要得益于内蒙古300万吨/年烯烃项目的 全面投产，使公司烯烃总产能达到520万吨/年，产能规模跃居行业首位，产销量显著增加。强劲的业绩 预期为股价提供了坚实的估值基础。 行业政策与环境 近期多家机构发布报告看好化工行业前景。瑞银在2026年2月的报告中明确上调中国化工行业预期，认 为行业将在2026-2028年开启新一轮上行周期。同时，国内"反内卷"政策持续推进，旨在优化供给端， 加速落后产能出清，这为像宝丰能源这样具备成本优势的龙头企业带来了结构性机会。行业整体的乐观 情绪对板块及个股股价形成了带动。 近期事件 中东局势持续紧张成为市场短期关注的焦点。券商中国在2026年2月9日的报道指出，美伊对峙已触及高 危临界 ...

Group 1 - The core viewpoint of the articles highlights a strong performance in the chemical sector, particularly in phosphates, fluorochemicals, and chemical raw materials, with the CSI sub-industry index rising by 2.91% as of February 11, 2026 [1] - The PC market is entering a new price increase cycle driven by a tight supply-demand balance, with domestic PC industry capacity utilization reaching a critical limit of 86% and no clear new capacity expected to come online in 2026 [1] - Major production facilities are undergoing maintenance, leading to a potential supply loss of 100,000 tons in the first half of the year, while upstream bisphenol A prices have risen from 7,500 CNY/ton to 7,950 CNY/ton in January [1] - The chemical industry is characterized as a typical cyclical sector, usually experiencing a five-year cycle of "profit upturn - capacity expansion - profit bottoming - capacity clearance/demand expectation improvement" [1] - The industry outlook is optimistic due to factors such as negative capital expenditure growth, anti-involution trends, overseas interest rate cuts, and domestic demand expansion, indicating a "dawn" phase for the chemical sector [1] Group 2 - As of January 30, 2026, the top ten weighted stocks in the CSI sub-industry chemical index include Wanhua Chemical, Salt Lake Shares, and others, accounting for 44.82% of the total index [2] - The chemical ETF managed by Harvest (159129) closely tracks the CSI sub-industry chemical index, focusing on the new economic cycle under the "anti-involution" backdrop [2] - Investors can also consider the chemical ETF linked fund (013527) to explore investment opportunities in the chemical sector [3]

Group 1 - The core viewpoint of the articles highlights the strong performance of cyclical sectors such as petrochemicals, precious metals, and agriculture, with the Petrochemical ETF (159731) rising by 2.35% and individual stocks like Tongkun Co. and Xin Fengming increasing by 7.06% and 6.96% respectively [1] - The Petrochemical ETF has seen continuous net inflows over the past four days, totaling 76.6445 million, with its latest share count reaching 1.768 billion and total assets hitting 1.805 billion, both marking all-time highs since inception [1] - Huazhang Securities notes that lithium prices are experiencing a high-level decline, while demand in the energy storage sector is exceeding expectations, leading to a recovery in the lithium battery industry and a shift in market sentiment regarding lithium demand [1] Group 2 - The Petrochemical ETF (159731) closely tracks the CSI Petrochemical Industry Index, benefiting from both basic chemicals and oil & petrochemical sectors, and includes high dividend and high growth assets [2] - Key weighted stocks in the ETF include Wanhua Chemical (global MDI leader), China Petroleum (domestic oil and gas leader), China Petrochemical (domestic refining leader), and Salt Lake Potash (domestic potassium fertilizer leader) [2] - The table lists the performance and weight of key stocks within the ETF, with Wanhua Chemical showing a rise of 3.72% and holding a weight of 10.61% [4]

Investment Rating - The report maintains an "Overweight" rating for the oil and gas sector and the basic chemicals sector [5]. Core Insights - The overall price spread in the industry improved in January, indicating a potential recovery in profitability for 2026, with the CCPI-raw material price spread reaching 2631, up from 2500 at the end of 2025 [1][9]. - The demand for chemical products is shifting from real estate to consumer goods, infrastructure, and emerging technologies, with significant growth potential driven by global economic trends [2][11]. - The capital expenditure growth in the chemical industry has been declining since June 2025, suggesting a supply-side adjustment is approaching, which may lead to improved profitability in the sector [2][16]. Summary by Sections Price Trends - In January, oil prices rose due to geopolitical tensions and strong global crude oil replenishment demand, leading to a slight improvement in the price spread of most chemical products [9][21]. - Major price increases were observed in products like lithium carbonate and butadiene, while some products like methyltrichlorosilane saw price declines due to supply adjustments [3][33]. Supply and Demand Dynamics - The January PMI was reported at 49.3, indicating a continued bottoming out in the real estate sector, while consumer goods and major infrastructure showed positive growth [2][11]. - The chemical industry is expected to see a recovery in demand, supported by the exit of high-energy-consuming facilities in Europe and North America, and economic growth in Asia, Africa, and Latin America [2][11][14]. Investment Strategy - The report suggests focusing on sectors with potential recovery, such as oil and gas, basic chemicals, and companies leveraging synthetic biology for cost reduction [32]. - Specific stock recommendations include China Petroleum & Chemical Corporation, Baofeng Energy, and Yun Tianhua, among others, highlighting their potential for growth and profitability [7][32]. Monthly Performance Review - In January, the basic chemical index rose by 12.72%, with significant gains in sub-sectors like dye chemicals and petrochemical raw materials [34][36]. - The report notes that the chemical industry is experiencing a recovery phase, with various sub-sectors showing positive price movements and improved market conditions [34][36].