基础化工行业周报：新增5家较低安全风险等级化工园区，制冷剂R134a、R125价格上涨

Investment Rating - The industry investment rating is "Overweight" [1]. Core Views - The chemical industry is expected to continue its differentiated trend in 2024, with a focus on synthetic biology, agricultural chemicals, chromatography media, sweeteners, vitamins, light hydrocarbon chemicals, COC polymers, and MDI [1]. - The arrival of a pivotal moment for synthetic biology is anticipated, driven by the adjustment of energy structures, which may disrupt fossil-based materials and favor low-energy products [1]. - The implementation of quota policies is expected to lead to a high prosperity cycle for third-generation refrigerants, as supply will enter a "quota + continuous reduction" phase starting in 2024 [1]. - The electronic specialty gases market is characterized by high technical barriers and significant domestic substitution opportunities, particularly in the semiconductor and photovoltaic sectors [2][5]. - The light hydrocarbon chemical trend is becoming global, with a shift towards lighter raw materials for olefin production, which aligns with carbon neutrality goals [2]. - The COC polymer industry is accelerating its domestic industrialization process, with significant potential for domestic companies to break through supply bottlenecks [3]. - The potassium fertilizer market is expected to rebound as major producers reduce output, leading to a tightening supply-demand relationship [4]. Summary by Sections Industry Review - The chemical sector's overall performance ranked 19th with a weekly change of 5.56% [14]. - The top three performing sub-sectors included carbon black (+13.04%), civil explosives (+11.16%), and chlor-alkali (+9.75%) [15]. Supply Side Tracking - A total of 148 companies in the chemical industry had their production capacities affected, with 16 new entries this week [6]. Key Companies to Watch - Recommended companies in synthetic biology include Kasei Bio and Huaheng Bio [1]. - In the refrigerant sector, companies like Juhua Co., Sanmei Co., and Haohua Technology are highlighted for their high quota ratios [1]. - For electronic specialty gases, companies such as Jinhong Gas, Huate Gas, and China Shipbuilding Gas are recommended [2]. - In the light hydrocarbon chemical space, Satellite Chemical is noted as a key player [2]. - For COC polymer production, AkzoNobel is suggested as a company to watch [3]. - In the potassium fertilizer sector, companies like Yara International, Salt Lake Co., and Zangge Mining are recommended [4]. - In the MDI market, Wanhua Chemical is highlighted due to its significant market share and potential for growth [5].