基础化工行业简评报告：天然橡胶涨幅靠前，三美股份拟对外投资丰富产品结构

Investment Rating - The report rates the industry as "Positive" [1] Core Insights - The Shanghai Composite Index closed at 2736.81 with a weekly increase of 1.21%, while the Shenzhen Component Index closed at 8075.14 with a weekly increase of 1.15%. The basic chemical sector (Shenwan) closed at 2722.69, outperforming the Shanghai Composite Index by 0.1 percentage points [2][3] - In the chemical sector, 24 out of 31 primary industries showed positive growth, with 6 out of 7 secondary industries and 20 out of 23 tertiary industries also reporting positive growth. Notable stocks include Jiangtian Chemical, Huasoft Technology, Longgao Co., and others [2][3] - Chemical prices saw significant increases, with international gasoline rising by 7.43%, natural rubber (SMR20) by 5.82%, and synthetic ammonia by 5.56%. Conversely, liquid chlorine dropped by 14.94% [9][10] - The report highlights the investment focus on leading chemical companies, tire manufacturers, agricultural chemicals, and refrigerants, suggesting specific companies to watch such as Wanhua Chemical, Hualu Hengsheng, and others [2][9] Market Performance - The basic chemical sector outperformed the Shanghai Composite Index with a weekly increase of 1.31% [2][3] - The top-performing stocks in the chemical sector included Jiangtian Chemical, Huasoft Technology, and others, while the worst performers included Lianchuang Co. and *ST Hongyang [6][8] Price Review - The report notes significant price increases in various chemicals, with MEG price spread increasing by 21.71% and styrene price spread by 14.37%. However, some price spreads, such as adipic acid, saw declines of up to 39.57% [9][11] Investment Themes 1. Leading chemical companies are expected to maintain profitability and investment value due to their comprehensive advantages [2][9] 2. The global tire demand is steadily increasing, with domestic companies gaining market share, suggesting a focus on companies like Sailun Tire and Senqilin [2][9] 3. The agricultural chemical sector is highlighted for its rigid demand, particularly in phosphate fertilizers, with companies like Chuanheng and Yuntianhua recommended [2][9] 4. The refrigerant industry is anticipated to enter a long-term upward cycle, with recommendations for companies like Juhua Co. and Yonghe Co. [2][9]