化工行业周报：国际油价小幅上涨，丙烯酸、制冷剂价格上涨

Investment Rating - The report rates the chemical industry as "Outperform the Market" [7] Core Views - The report highlights the slight increase in international oil prices and the rise in prices of acrylic acid and refrigerants [7] - It suggests focusing on leading companies in the refrigerant and vitamin sectors, undervalued industry leaders, and companies in the light hydrocracking sub-sector due to overall macroeconomic improvement [7][35] - The report emphasizes the importance of high-quality development and shareholder returns, recommending large energy state-owned enterprises and related oil service companies [7][35] Summary by Sections Industry Dynamics - In the week of December 23-29, 2024, among 101 tracked chemical products, 23 saw price increases, 44 saw decreases, and 34 remained stable [26] - The average price of R22 refrigerant increased by 1.54% week-on-week, with a year-to-date increase of 69.23% [27] - The report notes that the average price of WTI crude oil was $69.62 per barrel, with a weekly increase of 0.23% [26] Profit Forecast - The report forecasts that the net profit attributable to the parent company for the years 2024-2026 will be 4.87 billion, 6.11 billion, and 7.23 billion yuan respectively [38] - The earnings per share (EPS) for the same period is projected to be 3.77, 4.73, and 5.59 yuan respectively [38] Key Recommendations - The report recommends focusing on high-performing sectors such as refrigerants and vitamins, as well as companies with low valuations in the chemical industry [35] - It suggests a long-term investment strategy in the oil and gas extraction sector, which is expected to maintain high profitability [35] - Specific companies recommended include China Petroleum, China Oil, and Wanhu Chemical [35]