Zhong Guo Neng Yuan Wang·2025-09-18 01:49Group 1 - The core viewpoint of the report indicates that the chemical industry is approaching the end of its current cycle, with a focus on demand recovery in 2024, particularly in infrastructure and exports, while the real estate cycle continues to decline [1][4] - From the demand side, infrastructure and export are expected to remain robust in 2024, with consumption showing resilience after two years of recovery [1][3] - On the supply side, global chemical capital growth is projected to turn negative in 2024, while domestic construction projects are seeing a rapid decline in growth, nearing a bottom by Q2 2024 [1][3] Group 2 - The report outlines various industry indicators, including valuation metrics, price indices, supply-side metrics, import/export contributions, downstream industry performance, and global macroeconomic indicators [2] - Specific recommendations for investment opportunities include sectors such as refrigerants, phosphates, amino acids, and organic silicon, with suggested companies for each sector [4][5] - The report emphasizes the need for companies to adapt to changing global trade dynamics, focusing on both internal production capabilities and external market opportunities [5]