政策东风催化，化工板块猛攻！化工ETF（516020）上探1.8%，机构：龙头企业有望实现盈利估值双提升

Group 1 - The chemical sector experienced a significant rally on December 17, with the chemical ETF (516020) opening strong and reaching a maximum intraday increase of 1.8%, closing with a gain of 1.42% [1][8] - Key stocks in the sector included Salt Lake Co., which surged over 5%, and Wanhu Chemical, which rose over 3%, along with several others like Tianqi Materials and Luxi Chemical, which increased by more than 2% [1][8] Group 2 - An important meeting held last week outlined major development tasks for the upcoming year, emphasizing "comprehensive governance of 'involutionary' competition," "promoting high-quality development," and "leading green transformation," which may provide ongoing momentum for optimizing the chemical industry landscape [9][10] - According to Dongfang Securities, the focus on "anti-involution" and "high-quality development" will enhance industry competition order, accelerate the exit of outdated capacity, and shift the industry from "quantity-based pricing" to "quality-based competition" [9][10] - The current valuation of the chemical sector is attractive, with the chemical ETF's underlying index price-to-book ratio at 2.33, positioned at the 39.92 percentile relative to the past decade, indicating a favorable long-term investment opportunity [10] Group 3 - Looking ahead, Zhongyin Securities noted that the chemical products' downstream applications span various industries, including real estate, automotive, home appliances, textiles, and agriculture, with expectations for good growth in chemical product demand driven by policies aimed at expanding domestic demand and the rapid development of downstream industries like new energy and AI [11] - The chemical industry is currently at the bottom of the cycle, and the "anti-involution" trend is expected to accelerate the optimization of the competitive landscape, potentially improving profitability and valuations for leading companies [11] - The chemical ETF (516020) tracks the CSI segmented chemical industry theme index, covering various sub-sectors, with nearly 50% of its holdings in large-cap leading stocks, such as Wanhu Chemical and Salt Lake Co., providing an efficient way to capitalize on the rebound in the chemical sector [11][12]