建业股份近期股价波动，机构关注化工行业周期拐点

Group 1 - The stock price of Jianye Co., Ltd. (603948) has shown volatility over the past seven trading days, with a recent closing price of 29.10 yuan on February 11, reflecting a 2.11% increase, but with a net outflow of main funds amounting to 4.4661 million yuan [1] - On February 12, the stock price declined by 1.86% to 28.56 yuan, with main funds experiencing a larger net outflow of 10.2294 million yuan, while retail investors saw net inflows of 3.6051 million yuan and 6.6243 million yuan respectively [1] - As of February 13, the stock price slightly decreased by 0.25% to 28.49 yuan, with main funds turning to a net inflow of 2.0329 million yuan and a trading volume of 57.38 million yuan [1] Group 2 - For the first three quarters of 2025, the company reported an operating revenue of 1.564 billion yuan, a year-on-year decline of 12.04%, while net profit attributable to shareholders increased by 5.66% to 176 million yuan, with a quarterly net profit growth rate of 56.26% [2] - The net cash flow from operating activities grew by 35.75% year-on-year, indicating improved profit quality and cost control capabilities [2] - The profit growth is primarily attributed to product structure optimization and improved gross margins, despite revenue being affected by fluctuations in the chemical industry demand [2] Group 3 - Market attention is drawn to the expected turning point in the chemical industry cycle, with reports from institutions like UBS and Morgan Stanley suggesting that the industry may enter an upward cycle in 2026, driven by supply-side clearing and policy support [3] - Jianye Co., Ltd.'s segments, such as electronic chemicals and specialty gases, are expected to benefit from the domestic substitution trend in semiconductors [3] - Current institutional ratings for the company are predominantly neutral, with a need to monitor subsequent order fulfillment and changes in industry prosperity [3]