二、当日热点 一、行情回顾 市场全天震荡分化，创业板指跌超1%。玻纤概念股集体大涨，山东玻纤、中国巨石等多股涨停。有色金属板块走强，中钨高新、翔鹭钨业等涨停。化工股 反复活跃，华尔泰、吉华集团等涨停。下跌方面，影视概念股调整，横店影视、金逸影视等跌停。个股跌多涨少，沪深京三市超3200股飘绿，今日成交不足 2万亿。 1.玻纤 玻纤概念今日大涨，山东玻纤、中材科技、国际复材、中国巨石等多股涨停。 催化上，近日，光远新材、国际复材等玻纤龙头对电子布再度提价。据卓创资讯，2025年10月/12月、2026年1月/2月，普通电子布已经历四次涨价，7628厚 布涨价幅度分别为0.2-0.3、0.2-0.3、0.2、0.5-0.6元/米，累计涨幅达1-1.2元/米，薄布涨价幅度更大，电子布持续高景气。 此外，今日有市场传闻称，台耀科技发布停产通知，由于Low-DK玻璃布需求量增加，主要玻璃布厂商相继声明停产E-glass玻璃布并转生产Low-DK玻璃 布，台耀将调整E-glass生产计划，2月10日起，其中国台湾工厂将减量供应TU-662(668/F)、TU-768(752)及TU-747(742)系列产品，并将于202 ...

Group 1: Market Overview - The A-share market showed mixed performance on February 11, with the ChiNext Index falling over 1% and total trading volume in the Shanghai and Shenzhen markets reaching 2 trillion yuan, a decrease of 123.7 billion yuan from the previous trading day [1] - Over 3,200 stocks in the market experienced declines, indicating a broad-based sell-off [1] Group 2: Chemical Industry Insights - UBS recently released a report raising expectations for the Chinese chemical industry, predicting a new upward cycle from 2026 to 2028 due to multiple positive factors, with expectations for profit recovery and valuation increases [1] - The chemical sector has shown resilience, with companies like Jihua Group and Taihe New Materials experiencing significant stock price increases [1] Group 3: Fiberglass Sector Performance - The fiberglass manufacturing sector saw a collective surge, with nearly all stocks hitting the daily limit, a rare occurrence in the market [1] - Notable stocks included International Composite Materials, which hit a 20% limit up shortly after market open, and others like Changhai Co., Honghe Technology, and China Jushi also saw significant gains [1][2] - The fiberglass sector's revaluation is linked to price increases and demand driven by AI, with major manufacturers indicating price hikes and low inventory levels [3] Group 4: Lithium Battery and Precious Metals - Lithium battery stocks were active, with Zhongcai Technology hitting the limit up and reaching a historical high [4] - The domestic commodity futures market saw most prices rise, with lithium carbonate increasing over 9% [4] - Precious metals also experienced volatility, with silver futures rising over 4% and gold prices recovering above $5,050 per ounce [5]

Group 1 - The chemical sector has shown strong performance recently, with notable gains in dispersed dyes, pesticides, and large-scale refining [1] - Jihua Group has experienced a significant rise, achieving four consecutive trading limits within five days [1] - Other companies such as Sanfangxiang, Baichuan Co., Vinegar Chemical, and Hualitai have also reached trading limits, while Hongyang, Rongsheng Petrochemical, Shandong Haohua, and Xinjiang Tianye have seen follow-up gains [1] Group 2 - Zhejiang Longsheng has announced a price increase for certain types of dispersed dyes, with a reported rise of 5,000 yuan per ton as of February 8 [1] - Additionally, starting from April 1, 2026, 94 pesticide varieties, including glufosinate-ammonium, will benefit from an export tax rebate on value-added tax [1]

Summary of Dye Industry Conference Call Industry Overview - The dye industry is currently experiencing a significant price increase, with reduction agents rising from a previous low of 25,000 yuan/ton to the current 70,000 yuan/ton, with expectations to surpass the previous high of 100,000 yuan/ton [1] - Mainstream disperse black dye prices have increased by 5,000 yuan/ton recently, currently priced at approximately 21,000 yuan/ton, with historical highs nearing 50,000 yuan/ton, and there is potential for prices to reach 30,000 yuan/ton [1][1] Key Points - **Downstream Demand**: The cost of dyes represents a very low percentage of overall costs for downstream printing and dyeing factories, which prioritize the stability of their orders. The demand for textiles and apparel is expected to improve in 2026 [1] - **Price Increase Strategy**: The current price increases are seen as just the beginning, with a more significant price surge expected after the holiday period as downstream factories begin to restock [2][3] - **Market Expectations**: - The reduction agent is just the first card to play; other intermediates like meta-phenylenediamine, hexachlorobenzene, and hexabromobenzene are still at low prices, providing more opportunities for leading companies [3] - Active dyes are also expected to see price increases [3] Investment Recommendations - The call suggests a favorable outlook for leading companies in the dye industry, predicting that the new round of price increases led by top firms may exceed market expectations in terms of both height and sustainability. Recommended companies to watch include: - Zhejiang Longsheng - Runtu Co., Ltd. - Jihua Group - Jinchijiang Co., Ltd. - Anuoqi - Yayun Co., Ltd. - Some of these stocks are believed to have the potential for doubling in value [3]

Investment Rating - The industry investment rating is maintained at "Outperform" [2] Core Insights - The basic chemical industry index closed at 4729.08 points, down 4.35% from the previous week, underperforming the CSI 300 index by 2.59% [18] - The domestic PC market has entered a price increase cycle driven by a tight supply-demand balance, with prices rising significantly since the beginning of 2026 [6] - The price of disperse dyes has shown strong upward momentum, with significant increases driven by rising costs of key raw materials [8] Industry Overview - The basic chemical industry index has seen a decline, with 2 sub-industries rising and 23 falling as of February 6, 2026 [21] - The domestic PC market has experienced a price increase of 500-1000 CNY/ton, with production margins rising by 48.58% [6] - The supply-demand balance in the PC market is expected to improve due to a lack of new production capacity in 2026 [6] Sub-Industry Performance - The synthetic resin and other rubber products sectors have shown positive performance, while viscose and coal chemical sectors have declined significantly [21] - The average operating rate for viscose short fibers has remained high, with a total inventory of 96,600 tons as of February 6, 2026, indicating potential for price increases [9] - The tire industry has seen a decrease in operating rates, with full steel tire rates at 60.45% and semi-steel tire rates at 72.09% [38] Price Trends - The price of disperse dyes has increased from 18,000 CNY/ton to 21,000 CNY/ton within a month, driven by rising costs of key intermediates [8] - The average industry operating rate for polyester filament is approximately 79.97%, with a notable decrease in demand leading to a cautious market outlook [31] - Key chemical products have shown varied price movements, with some experiencing significant increases while others have seen declines [26][29]

Group 1: Price Adjustments - Zhejiang Longsheng announced a price increase of 5000 yuan/ton for certain disperse dye products due to rising prices of reducing agents [1] - Lun土股份 also reported a similar price increase of approximately 5000 yuan/ton for disperse black dye, attributing it to the rising costs of reducing agents [1] - Fulaient has issued a price adjustment notice for multiple disperse dye products, with increases ranging from 2000 to 3000 yuan per ton, expected to be around 10% [1] Group 2: Industry Overview - The disperse dye sector has seen a recent surge, with companies like Haixiang Pharmaceutical and Jihua Group experiencing significant stock performance [2] - China is the largest producer, trader, and consumer of dyes globally, accounting for approximately 70%-75% of the world's total dye production [2] - Major production areas for dyes in China include Zhejiang, Jiangsu, and Shandong, with a high industry concentration [2] Group 3: Market Trends - The disperse dye industry has faced a downward trend over the past five years, but a turning point is emerging as the core intermediate, reducing agents, has started to increase in price [3] - The price of reducing agents rose over 50% from 25,000 yuan/ton to 38,000 yuan/ton by the end of January [3] - Disperse dye prices have also been on the rise, with increases noted in January, indicating a potential price turning point [3] Group 4: Future Outlook - The production of reducing agents is subject to high environmental standards and complex processes, leading to the exit of smaller producers unable to meet these standards [4] - The supply structure is highly concentrated, with major capacities held by integrated giants, which may lead to sustained price increases for reducing agents [4] - The traditional peak season for the printing and dyeing industry in March and April may exacerbate supply-demand tensions as downstream manufacturers stock up in anticipation of price hikes [4]

Group 1 - The dispersed dye concept has recently shown strong performance, with Haixiang Pharmaceutical (002099) achieving three consecutive trading limits, while Jihua Group (603980) has seen four consecutive trading limits [1] - Other companies such as Shanshui Technology (301190), Yayun Co. (603790), Runtu Co. (002440), and Yabang Co. (603188) have also experienced upward movement in their stock prices [1] - Zhejiang Longsheng (600352) has announced a price adjustment for certain dispersed dye products, with the main product, dispersed black, increasing by 5000 yuan per ton as of February 8 [1] Group 2 - The recent rise in prices of reducing agents has contributed to Runtu Co.'s dispersed dye black price increasing by approximately 5000 yuan per ton [1]

Group 1 - The dye sector continues to open high, with Jihua Group achieving a consecutive two-day increase [1] - Other companies such as Runtu Co., Shanshui Technology, Fulaient, Kobalt, and Jinjis Co. are also experiencing upward trends [1]

证券代码：603980 证券简称：吉华集团 公告编号：2026-020 浙江吉华集团股份有限公司 关于《简式权益变动报告书》的 更正公告 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个别及连带责任。 浙江吉华集团股份有限公司 浙江吉华集团股份有限公司（以下简称"公司"）于2026年2月7日披露了《简式权益变动报告书》，经公 司自查发现，需更正部分内容。具体内容如下： ■■ 除上述更正内容外，《简式权益变动报告书》的其他内容保持不变。更正后的《简式权益变动报告书》 （更正版）详见上海证券交易所网站（www.sse.com.cn），敬请投资者查阅。公司对上述更正给投资者 带来的不便深表歉意，敬请广大投资者谅解。 董事会 2026年2月10日 证券代码：603980 证券简称：吉华集团 公告编号：2026-021 浙江吉华集团股份有限公司 关于《详式权益变动报告书》的 更正公告 特此公告。 ■ 除上述更正内容外，《详式权益变动报告书》的其他内容保持不变。更正后的《详式权益变动报告书》 （更正版）详见上海证券交易所网站（www.sse.com ...

Group 1 - The dye sector experienced an initial rise, with companies such as Jihua Group, Yabang, Runtu, and Haixiang Pharmaceutical hitting the daily limit up [1] - Other companies including Jinjis, Zhejiang Longsheng, Annuoqi, Yayun, and Runhe Materials also saw increases in their stock prices [1]