化工ETF(159870)盘中净申购1.37亿份，冲刺连续8天净流入

Group 1 - The chemical sector is experiencing a capital inflow, with the chemical ETF (159870) seeing a net subscription of 137 million units, marking eight consecutive days of net inflow [1] - The core logic of the chemical industry is that capital expenditure has ended, with operating rates still at 80% to 90%. The trend remains positive despite internal competition, as only the chemical sector can achieve a healthy reduction in competition [1] Group 2 - Chemical stocks are currently in the first phase of a three-phase cycle, where EPS and commodity prices have bottomed out, indicating significant potential for future price increases [2] - Seasonal demand in the chemical industry is pronounced, with low inventory levels and strong spot market performance, suggesting that profitability will recover significantly during peak seasons [2] Group 3 - The chemical sector's leading companies are expected to see profit margins improve due to increased industry concentration and capital expansion from 2022 to 2025, which could lead to record high profits [3] - The current price-to-book (PB) ratios for leading companies differ from previous cycles, indicating potential for higher returns on equity (ROE) if leverage ratios return to historical levels [3] Group 4 - As of January 12, 2026, the CSI sub-industry chemical theme index (000813) shows mixed performance among its constituent stocks, with notable gains from companies like Guangwei Composite and Lanxiao Technology [3] - The top ten weighted stocks in the CSI sub-industry chemical theme index account for 45.31% of the index, including major players like Wanhua Chemical and Yanhua Co. [4]