基础化工行业周报：Q3业绩同比下降，关注上游资源品、轮胎、氟化工等板块

Investment Rating - The report maintains an "Overweight" rating for the basic chemical industry [4][47]. Core Insights - The basic chemical index outperformed the CSI 300 index by 0.95 percentage points, with a weekly change of -0.73% compared to -1.68% for the CSI 300 [11]. - Key sub-industries showing positive performance include phosphate fertilizers and phosphate chemicals (10.95%), adhesives (8.71%), polyester (6.08%), rubber additives (3.27%), and nitrogen fertilizers (0.98%) [11]. - The report highlights a significant decline in profits for the chemical raw materials and chemical products manufacturing industry, with a 4% year-on-year decrease in profits for the first nine months of 2024 [3]. Market Trends - The basic chemical index's performance for the past week was -0.73%, while the CSI 300 index was -1.68%, indicating a relative outperformance [11]. - The report notes that the prices of several chemical products have fluctuated, with notable increases in hydrogen fluoride (8.72%) and liquid chlorine (8.71%), while domestic vitamin A saw a significant drop of -19.44% [16][18]. Investment Recommendations - The report suggests focusing on several key sectors: 1. Refrigerants, with a recommendation to pay attention to companies like Jinshi Resources and Juhua Co. 2. Chemical fibers, recommending companies such as Huafeng Chemical and Xin Fengming. 3. Quality stocks like Wanhua Chemical and Hualu Hengsheng are also highlighted [4][47]. - The tire sector is recommended, with specific attention to Sailun Tire and Linglong Tire [4][47]. - The agricultural chemicals sector is advised to focus on companies like Yalin International and Salt Lake Co. [4][47].