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].

Core Insights - The chemical industry is at the beginning of a new prosperity cycle globally, with Chinese chemical companies showing stronger profit foundations and elasticity due to past expansions and capital expenditures [5][11][29] - Focus on cyclical chemical products, particularly those with resource attributes and potential in the real estate chain [4][5] - The demand from major economies like China and the US is expected to improve, with China's GDP projected to exceed 140 trillion yuan, growing at 5.0% year-on-year [5][22] Group 1: Global and Domestic Chemical Landscape - The global chemical landscape is improving, with China's chemical sector becoming more resilient [9][12] - China's share of the global chemical market has significantly increased from 13% in 2004 to 47% in 2024, indicating its growing importance in the global chemical industry [14][29] - The capital expenditure in the global chemical sector has paused, with many overseas chemical companies reducing production, which may benefit Chinese companies [14][16] Group 2: Resource Attributes in Chemical Products - Three main resource directions are emphasized: mineral resources (like phosphate and potash), indicator resources (such as pesticides and refrigerants), and channel resources (like compound fertilizers) [5][33] - China's phosphate reserves rank second globally, with a steady increase in demand driven by both traditional fertilizer needs and emerging sectors like lithium iron phosphate for batteries [33][36] - The supply of fertilizers is expected to contract in 2025, with production of monoammonium phosphate and diammonium phosphate projected to decrease by 6.73% and 6.86% respectively [39] Group 3: Real Estate Chain Chemical Products - The market currently has low expectations for the recovery of demand in the real estate chain, but there is potential for significant improvement due to government stimulus policies [5][22] - The supply concentration of chemical products related to the real estate chain is gradually increasing, which may lead to faster and easier supply-demand improvements [5] Group 4: New Materials and Domestic Substitution - The report highlights the importance of domestic substitution and the development of new materials in line with China's strategic plans for emerging industries [7][8] - Key areas of focus include lubricating oil additives, semiconductor materials, and bio-based materials [7] Group 5: Investment Recommendations - Suggested companies for investment include Hualu Chemical, Xin Fengming, Yuntianhua, and others, focusing on those with strong market positions and innovative capabilities [7][8]

（记者 曾健辉） 每经AI快讯，有投资者在投资者互动平台提问：领导您好，请问下能否更新下公司润滑油API认证进展 如何了，之前预计在一季度完成，计划是否有变化？ 利安隆（300596.SZ）2月5日在投资者互动平台表示，您好！润滑油添加剂API认证涉及多个产品品 类，目前已有个别品类完成认证。感谢您对公司的关注！ ...

据了解，该基地总投资3亿美元，是利安隆首个海外研发与生产综合体，聚焦抗老化材料、润滑材料及生物基材料的研发与全球市场应用，计划为全球高 分子材料及润滑油客户提供可靠解决方案。据悉，研发中心及一期生产装置将于2027年第一季度交付使用。 据了解，该基地总投资3亿美元，是利安隆首个海外研发与生产综合体，聚焦抗老化材料、润滑材料及生物基材料的研发与全球市场应用，计划为全球高 分子材料及润滑油客户提供可靠解决方案。据悉，研发中心及一期生产装置将于2027年第一季度交付使用。 项目建成投用后，将显著增强利安隆全球供应链的灵活性和安全性，有效提升其老化材料和润滑材料的服务效率和创新质量。 1月19日，正值上市九周年之际，天津利安隆新材料股份有限公司马来西亚研发生产基地奠基仪式在马来西亚柔佛州举行，利安隆董事长兼总裁李海平、 柔佛州州务大臣拿督翁哈菲兹、润英联首席执行官Aldo Govi等各界代表出席庆典并为项目培土。 1月19日，正值上市九周年之际，天津利安隆新材料股份有限公司马来西亚研发生产基地奠基仪式在马来西亚柔佛州举行，利安隆董事长兼总裁李海平、 柔佛州州务大臣拿督翁哈菲兹、润英联首席执行官Aldo Govi等各界 ...

同壁财经讯，企查查数据显示，根据《天津院2026-2027年山东地区高沸点芳烃溶剂油SA-1800等五种普 通化学品采购专有协议》，天津利安隆新材料股份有限公司于2026年1月29日公告中标中海油能源发展 股份有限公司采购项目，中标金额为105.77万元。 同壁财经小贴士： 利安隆（300596.SZ）2024年营业收入为56.87亿元，营业收入增长率为7.74%，归属母公司净利润为4.26 亿元，归属母公司净利润增长率为17.61%，净资产收益率为9.95%。 2025年上半年公司营业收入为29.95亿元，营业收入增长率为6.21%，归属母公司净利润为2.41亿元，归 属母公司净利润增长率为9.60%。 目前公司属于材料行业，主要产品类型为化学试剂，2024年报主营构成为光稳定剂:36.68%;抗氧化 剂:30.41%;润滑油添加剂:18.7%;U-PACK:10.79%;其他:3.03%;其他业务:0.32%;生命科学:0.06%。 同壁财经讯，企查查数据显示，根据《天津院2026-2027年山东地区高沸点芳烃溶剂油SA-1800等五种普 通化学品采购专有协议》，天津利安隆新材料股份有限公司于2026年1 ...

（文章来源：证券日报） 证券日报网讯 1月26日，利安隆发布公告称，公司控股股东天津利安隆科技集团有限公司解除质押226 万股，占其持股6.96%。 ...

证券代码：300596 证券简称：利安隆 公告编号：2026-004 天津利安隆新材料股份有限公司 关于控股股东部分股份解除质押的公告 控股股东天津利安隆科技集团有限公司保证向公司提供的信息内容真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： | | | | | | | | | 已质押股份情况 | | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | | 持股数量 （股） | 持股 比例 | 本次解除质 押前累计质 押股份数量 （股） | 本次解除质 押后累计质 押股份数量 （股） | 合计占 其所持 股份比 例 | 合计占 公司总 股本比 例 | 已 质 押 股 份 限 售 和 冻 结 数 量 | 占 已 质 押 股 份 比例 | 未 质 押 股 份 限 售 和 冻 结 数 量 | 占 未 质 押 股 份 比例 | | 利安隆集团 | | 32,46 ...

Investment Rating - The report maintains a strong rating for the chemical industry, indicating a positive outlook for the sector [5]. Core Insights - The chemical sector has shown resilience with the CITIC Basic Chemical Index rising by 5.73% and the Shenwan Chemical Index increasing by 7.29% this week [13][16]. - Key sub-industries such as soda ash, chlor-alkali, and dyeing chemicals have experienced significant price increases, with soda ash rising by 13.3% [16]. - The report highlights the competitive strength of domestic tire manufacturers and suggests focusing on companies like Sailun Tire and Linglong Tire as potential growth opportunities [4]. - The polyurethane project by Huide Technology, with an annual production capacity of 600,000 tons, has commenced, indicating strategic growth in the new materials sector [3]. - The report emphasizes the tightening supply-demand dynamics in the phosphate chemical sector due to environmental regulations and increasing demand from the new energy sector [4]. Summary by Sections Market Overview - The Shanghai Composite Index increased by 0.84%, while the ChiNext Index decreased by 0.34% [13]. - The overall performance of the chemical sector is positive, with notable gains in various sub-industries [16]. Key Sub-Industry Developments - **Polyurethane**: The price of pure MDI in East China is reported at 17,600 RMB/ton, showing a week-on-week decline of 1.12% [28]. - **Tires**: The operating load for all-steel tires in Shandong is at 62.70%, reflecting a year-on-year increase of 20.70% [49]. - **Fertilizers**: Urea prices are at 1,757.45 RMB/ton, with a week-on-week decrease of 0.4% [63]. - **Vitamins**: The price of Vitamin A is reported at 61.5 RMB/kg, down 1.6% week-on-week [79]. Investment Themes - **Tire Sector**: Domestic tire companies are positioned strongly, with a focus on growth stocks [4]. - **Consumer Electronics**: Recovery in demand is anticipated, benefiting upstream material companies [4]. - **Phosphate Chemicals**: Supply constraints due to environmental policies are expected to tighten the market [4]. - **Vitamin Supply**: Supply disruptions in Vitamin A and E are noted, creating potential investment opportunities [4].

二、 本次中期票据发行情况 公司于 2026 年 1 月 22 日发行了 2026 年度第一期两新科技创新债券，现将 发行结果公告如下： | 债券名称 | 天津利安隆新材料股份 26 利安隆 有限公司2026年度第一 债券简称 MTN001(科创债) | | --- | --- | | 债券代码 | 期两新科技创新债券 期限 年 102680279 3 | | 起息日 | 年 月 日 兑付日 年 月 日 2026 01 23 2029 01 23 | | 计划发行总额 （万元） | 实际发行总额 80,000.00 80,000.00 （万元） | | 发行利率 | 发行价格 2.1% 100.00 (百元面值） | | 簿记管理人 | 渤海银行股份有限公司 | | 主承销商 | 渤海银行股份有限公司 | | 联席承销商 | 兴业银行股份有限公司、中信银行股份有限公司、上海浦东发 | | | 展银行股份有限公司、招商银行股份有限公司、中国银行股份 | | | 有限公司、中国民生银行股份有限公司 | 证券代码：300596 证券简称：利安隆 公告编号：2026-003 天津利安隆新材料股份有限公司 关于 202 ...

Group 1 - The core viewpoint of the article highlights the establishment of a new R&D and production base by Tianjin Lianlong New Materials Co., Ltd. in Johor, Malaysia, with an investment of $300 million, focusing on anti-aging materials, lubricating materials, and bio-based materials [4][6] - The R&D center and the first phase of the project are expected to be operational by the first quarter of 2027, aiming to provide reliable and efficient solutions for global polymer material and lubricating oil customers [4][6] - A strategic cooperation framework agreement was signed between Lianlong and the specialty chemicals company, Lubrizol, to leverage their respective technological advantages in lubricant additive development and manufacturing [6][7] Group 2 - Lianlong is recognized as the only domestic and one of the two global companies offering a full range of anti-aging polymer materials and application technologies, with a comprehensive product line in lubricant additives [7] - In the first three quarters of 2025, Lianlong achieved a revenue of 4.509 billion yuan, representing a year-on-year growth of 5.7%, and a net profit attributable to shareholders of 392 million yuan, reflecting a 24.9% increase [7] - The article also discusses the upcoming "2026 Advanced Nylon Industry Innovation and Application Development Conference" scheduled for March 19-20, 2026, in Guangzhou, focusing on technology innovation and market development in the nylon industry [9][10] Group 3 - The conference aims to gather over 300 domestic and international nylon enterprises and industry experts to explore high-quality development paths for the industry [11] - It will feature more than 20 expert presentations and discussions on new trends, materials, and applications, as well as specialized activities for networking and collaboration [11][12] - The agenda includes sessions on terminal trends, nylon modification, and innovative material selection, addressing challenges and opportunities in various sectors such as automotive and electronics [14][15]