Xin Lang Cai Jing·2025-09-30 05:13Core Insights - The Ministry of Industry and Information Technology and six other departments have jointly released the "Work Plan for Stable Growth in the Petrochemical Industry (2025-2026)", emphasizing strict control over new refining capacity and supporting projects that reduce oil dependency and upgrade old facilities [1] - The industrial sector has seen a significant rebound in revenue and profits in August, primarily due to a low base effect, with upstream profit growth slowing and midstream and downstream sectors growing over 25% year-on-year [1] - The cobalt export quota system implemented by the Democratic Republic of the Congo raises concerns about potential raw material shortages, with export quotas set at 18,000 tons for late 2025 and 96,600 tons annually for 2026-2027, indicating a shift from surplus to potential shortage in cobalt resources [2] Industry Summary - The petrochemical industry is expected to undergo structural optimization, with the elimination of outdated capacity and accelerated industrial transformation, creating opportunities for companies with technological advantages and extended supply chains [1] - The equipment manufacturing and raw materials sectors have shown significant profit growth, while the beverage and alcohol sectors have also improved due to short-term demand fluctuations [2] - The market for cobalt is likely to maintain high prices in the medium to long term due to the new export quota system and increased demand from downstream sectors during the peak consumption season [2] ETF Market Insights - As of September 30, 2025, the CSI All Materials Index rose by 1.52%, with the Materials ETF (159944) increasing by 2.06%, marking five consecutive days of gains [3] - The top ten weighted stocks in the index account for 30%, with notable increases in companies like Huayou Cobalt and Luoyang Molybdenum [3] - The current price-to-book ratio of the index is 2.09, lower than other similar indices, aligning with the strategy of investing in undervalued cyclical industries [3]