化工行业周报：国际油价震荡，三氯蔗糖企业调价

Investment Rating - The report rates the chemical industry as "Outperform the Market" [1] Core Views - The report highlights the arrival of the traditional peak season, suggesting to focus on high-quality leading companies in sectors like vitamins, polyester filament, and refrigerants, which have relatively high prosperity [1][6] - It emphasizes the potential for recovery in the semiconductor industry and the importance of large energy state-owned enterprises in improving operational performance under the new era [1][6] Summary by Sections Industry Performance and Price Changes - During the week of August 26 to September 1, 31 out of 101 tracked chemical products saw price increases, while 41 experienced declines, and 29 remained stable [1][6] - The average price of WTI crude oil fell by 1.71% to $73.55 per barrel, and Brent crude oil decreased by 0.28% to $78.80 per barrel [1][6] - The average price of methanol increased by 2.76% to 2,193 CNY per ton, driven by improved demand in the olefin industry [1][6] Investment Recommendations - As of September 1, the SW basic chemical sector's price-to-earnings ratio (TTM excluding negative values) is 18.08, at the 38.29% historical percentile [1][6] - The report recommends focusing on sectors with sustained prosperity, such as fluorochemicals, animal nutrition, and polyester filament, which are expected to benefit from supply-demand improvements [1][6] Key Companies to Watch - Recommended companies include China Petroleum, China National Offshore Oil Corporation, China Petrochemical Corporation, and leading firms in semiconductor materials and fluorochemicals [1][6] - September's "Golden Stocks" include Wanhua Chemical and Yake Technology, both showing strong performance and growth potential [2][10]