Sinopec Corp.(SH:600028) Sou Hu Cai Jing·2025-12-01 06:16Core Insights - The Tianhong Chemical ETF (159133) reached a record high since its listing, with a turnover of 1 billion yuan and a trading volume of 18.37% [1] - The underlying index, the CSI Sub-Industry Chemical Theme Index (000813), increased by 0.82%, with notable gains from several constituent stocks [1] Group 1: Product Highlights - The Tianhong Chemical ETF tracks the CSI Sub-Industry Chemical Theme Index, which includes listed companies involved in the manufacturing and sales of chemical products such as pesticides and fertilizers, reflecting the overall performance of quality enterprises in the chemical industry [2] Group 2: Key Events - A significant agreement was reached on November 23, 2023, for the 2026 China potash fertilizer import contract, setting the price at 348 USD/ton (CFR), maintaining a competitive pricing position globally [2] - On November 26, 2023, BASF and a subsidiary of Sinopec signed a strategic cooperation agreement to promote the large-scale application of biogas, accelerating the low-carbon transition in the chemical industry [3] Group 3: Institutional Perspectives - According to Dongguan Securities, from January to October 2023, the total profit of large-scale industrial enterprises in China reached 59,502.9 billion yuan, reflecting a year-on-year growth of 1.9% [3] - The refrigerant sector is expected to see improved supply-demand dynamics due to the implementation of production quota management for third-generation (HFCs) refrigerants starting in 2024, leading to an overall upward trend in refrigerant prices before 2025 [3]