需求驱动+库存周期共振，石化板块盈利预期提升，聚焦石化ETF（159731）发展机遇

Group 1 - The core viewpoint of the article indicates that the petrochemical industry index has experienced a slight decline of approximately 0.75%, with mixed performance among constituent stocks, highlighting leaders such as HeBang Bio, Lianhong New Science, and China National Offshore Oil Corporation [1] - Tianfeng Securities suggests that the overall macroeconomic backdrop may drive chemical prices upward in the second half of the year due to phase-driven demand, stable supply dynamics, and inventory cycles, indicating potential for price increases from a bottoming out [1] - The petrochemical ETF (159731) and its linked funds closely track the China Petrochemical Industry Index, with the basic chemical industry accounting for 60.65% and the oil and petrochemical industry for 32.3% of the index [1] Group 2 - The top ten weighted stocks in the index include Wanhua Chemical, China Petroleum, Sinopec, and others, collectively accounting for 55.63% of the index [1] - The article emphasizes that the chemical sector is entering a phase of valuation bottoming, with improved profit expectations and corporate investment return demands following a recovery in demand and a slowdown in supply growth [1]