“反内卷”总龙头化工ETF天弘(159133)上市次日获资金净流入超880万元，机构：化工业估值与盈利双底已现！

Core Insights - The chemical ETF Tianhong (159133) has seen significant trading activity, with a transaction volume of 9.8014 million yuan and a strong increase of 1.26% in the underlying index as of November 27, 2025 [1] - The ETF has attracted over 8.8 million yuan in net inflows since its listing, reaching a record high of 558 million shares [1] - The launch of China's first green hydrogen coal chemical project marks a significant step towards the green transformation of the coal chemical industry [1] Product Highlights - The Tianhong chemical ETF (159133) tracks the CSI sub-sector chemical industry theme index, which includes companies involved in chemical products, fibers, fertilizers, and pesticides, providing a representative tool for investors [1] Key Events - The successful market operation of the first green hydrogen coupling coal chemical demonstration project in China demonstrates a replicable model for the green transformation of the coal chemical industry [1] - The project has achieved breakthroughs in core technologies, including the establishment of a large-capacity electrolyzer for stable operation in the chemical industry [2] Institutional Perspectives - Western Securities notes that the chemical industry is currently experiencing a dual bottom in valuation and profitability, with a 7.45% year-on-year increase in net profit for the basic chemical sector from Q1 to Q3 of 2025 [2] - The report highlights the importance of addressing internal competition within various sub-industries and anticipates an upward trend in the economic cycle due to resource supply constraints and steady demand recovery [2]