电子化学品关注度持续提升，碳排放新政发布

Investment Rating - The report maintains a positive outlook on the chemical new materials industry, particularly in electronic chemicals and renewable energy sectors [1]. Core Insights - The U.S. government is set to release new regulations next month that will further restrict semiconductor manufacturing equipment exports to China, which is expected to accelerate the domestic substitution process in electronic chemicals [2][11]. - The Chinese government has issued a work plan to establish a dual control system for carbon emissions, indicating a focus on renewable and green energy companies [2][11]. Summary by Sections Electronic Chemicals - The report highlights the increasing attention on electronic chemicals due to the anticipated U.S. export restrictions on semiconductor manufacturing equipment to China, which may boost domestic alternatives [2][11]. - The market for semiconductor materials has shown growth, with the global market size increasing from $46.5 billion in 2017 to $66.7 billion in 2023, reflecting a CAGR of 6% [11]. - The domestic semiconductor materials market in China has grown from 52.5 billion yuan to 95.1 billion yuan during the same period, with a CAGR of 10% [11]. Renewable Energy and Carbon Emission Policies - The report notes the issuance of a work plan by the State Council to accelerate the establishment of a dual control system for carbon emissions, which will guide regions in preparing carbon emission budgets [2][11]. - Companies in the renewable energy sector, such as 联泓新科 (Lianhong Xinke) and 朗坤环境 (Langkun Environment), are recommended for attention due to the new carbon policies [2]. Price Tracking of Key Chemical Products - The report tracks price movements of key chemical products, noting significant increases in prices for vitamins and MDI, with vitamin A prices reaching around 150 yuan per kilogram [8]. - The prices of electronic chemicals such as photoresists and etching liquids have remained stable, with specific prices reported for various grades of electronic-grade chemicals [17][22]. Market Performance and Company Recommendations - The report suggests monitoring companies like 雅克科技 (Yake Technology), 鼎龙股份 (Dinglong Co.), and 金宏气体 (Jinhong Gas) in the electronic chemicals sector due to their potential benefits from the domestic substitution trend [2][11]. - In the renewable energy sector, companies like 旭阳集团 (Xuyang Group) and 新奥股份 (Newell Group) are highlighted for their relevance in the context of carbon emission policies [31].