石化产业开启“反内卷”模式，聚焦石化ETF（159731）低位布局机遇

Core Viewpoint - The petrochemical industry is facing significant challenges due to intense competition, leading to a situation where increased production does not translate into higher profits. The central government has proposed measures to address these issues and promote sustainable development in the sector [1]. Industry Summary - The petrochemical sector is experiencing "involution" competition, characterized by low-quality and homogeneous products, which has resulted in a widespread profit squeeze among companies [1]. - The central government has outlined comprehensive rectification requirements to combat this issue, emphasizing self-regulation, the role of industry associations, and the leadership of major enterprises in standardizing operations [1]. - Key strategies for improvement include enhancing innovation to achieve product differentiation, focusing on high-end technology, and phasing out non-compliant production capacities based on energy efficiency and environmental standards [1]. Company Summary - As of August 12, 2025, the top ten weighted stocks in the CSI Petrochemical Industry Index (H11057) include Wanhua Chemical, China Petroleum, Sinopec, and others, collectively accounting for 56.18% of the index [1]. - The petrochemical ETF (159731) closely tracks the CSI Petrochemical Industry Index and has shown an upward trend, reflecting the value proposition in the sector [1].