Mei Ri Jing Ji Xin Wen·2025-07-21 06:02Group 1 - The core viewpoint is that China National Petroleum Corporation (CNPC) is focusing on developing five new material bases, with key projects like high-end polyolefin new materials advancing the high-end chemical materials industry, widely applied in aerospace, automotive, and photovoltaic sectors [1] - In 2024, the production of chemical new materials in China is expected to grow by 49.3% year-on-year, resulting in the emergence of major products such as ABS and ethylene-propylene rubber, while products like paraffin and low-sulfur petroleum coke maintain the largest market share domestically [1] - The company has established a new materials research institute, achieving breakthroughs in key technologies such as metallocene polyethylene catalysts and nylon 66 synthesis, supporting the transformation and upgrading of the refining and chemical materials industry [1] Group 2 - Despite uncertainties in geopolitical conditions, the medium to long-term supply-demand pattern for crude oil remains favorable, and the chemical sector is expected to benefit from macroeconomic recovery, leading to improved demand for chemicals [1] - The oil ETF (561360) tracks the oil and gas industry index (H30198), which is compiled by China Securities Index Co., Ltd., selecting listed companies involved in oil and gas exploration, extraction, refining, and sales to reflect the overall performance of the oil and gas industry [1]