聚焦进口替代、纯内需、高股息等方向，石化ETF(159731)连续10天净流入

Group 1 - The China Petroleum and Chemical Industry Index decreased by 0.57% as of January 21, 2026, with mixed performance among constituent stocks, including Zhejiang Longsheng and Yara International leading gains, while Luxi Chemical and Hengyi Petrochemical faced declines [1] - The Petrochemical ETF (159731) fell by 0.50%, with a latest price of 1 yuan and a record high scale of 625 million yuan, having attracted a total net inflow of 344 million yuan over the past 10 days [1] - The Petrochemical ETF has seen a net value increase of 64.29% over the past two years, with the highest single-month return reaching 15.86% and the longest consecutive monthly gain lasting for 8 months, with an average monthly return of 5.25% [1] Group 2 - The top ten weighted stocks in the China Petroleum and Chemical Industry Index as of December 31, 2025, include Wanhua Chemical, China Petroleum, and China Petrochemical, collectively accounting for 56.73% of the index [2] - The performance of key stocks includes Wanhua Chemical down by 1.79%, China Petroleum up by 0.30%, and China Petrochemical down by 0.33%, among others [4] - The Petrochemical ETF closely tracks the China Petroleum and Chemical Industry Index, with various linked products available for investment [4] Group 3 - Huaxin Securities remains optimistic about the three major oil companies, particularly China Petrochemical, which benefits from lower raw material costs due to declining international oil prices [1] - Private refining companies are also expected to gain from the current downturn in oil prices due to their higher chemical yield and production efficiency [1]