政策助力破解结构性矛盾，行业景气度持续上行，石化ETF（159731）布局价值凸显

Group 1 - The core viewpoint of the article highlights the recent performance of the petrochemical ETF, which has seen a slight decline of 0.12%, while several of its constituent stocks have shown positive gains. The ETF has experienced net inflows in 8 out of the last 10 trading days, totaling 24.13 million yuan, with its latest share count reaching a record high of 227 million shares [1][2] - The introduction of the "Petrochemical Industry Steady Growth Work Plan (2025-2026)" aims to address the dual challenges of intensified competition in basic raw materials and insufficient supply of high-end chemicals. The plan's core objective is to reduce "involutionary" competition and shift the development model from "quantitative expansion" to "qualitative improvement" [1] - According to Zhongyin Securities, the industry has been significantly impacted by tariff-related policies and fluctuations in crude oil prices. The medium to long-term investment recommendations include: 1) Recovery in demand supported by policies, with continuous optimization on the supply side, leading to potential dual improvements in performance and valuation for leading enterprises; 2) Rapid development in downstream industries such as semiconductor materials, OLED materials, and new energy materials, providing ample growth opportunities; 3) Focus on sub-industries like fluorochemicals, agrochemicals, refining, dyes, polyester filament, and tires, which are expected to maintain or improve their high levels of prosperity [1] Group 2 - The petrochemical ETF closely tracks the CSI Petrochemical Industry Index, with the basic chemical industry accounting for 60.85% and the oil and petrochemical industry for 32.16%. Driven by policy, China's petrochemical industry is expected to reshape its competitiveness, with supply-side structural reforms promoting sustained improvement in industry prosperity [2]