Huaxin Securities·2025-06-09 07:48Investment Rating - The report maintains a "Buy" rating for several companies in the chemical industry, including Sinopec, PetroChina, and CNOOC, highlighting their high dividend characteristics [10]. Core Views - The report emphasizes the importance of focusing on domestic demand, high dividend stocks, and import substitution in the chemical industry, especially in light of the recent stabilization of international oil prices [6][17]. - It notes that the international oil price is expected to stabilize around $70 per barrel in 2025, which supports the outlook for companies with strong asset quality and high dividend yields [6][17]. Summary by Sections Industry Investment Recommendations - The report suggests that the chemical industry is currently in a weak performance phase, with mixed results across different sub-sectors due to past capacity expansions and weak demand [20]. - It highlights specific sectors such as the tire industry, which is expected to perform well due to global positioning and tariff experiences [20]. - The report also identifies opportunities in import substitution for chemical products like lubricant additives and special coatings [20]. Price Movements - Significant price increases were observed in natural gas (up 14.76%), hydrochloric acid (up 9.39%), and synthetic ammonia (up 5.24%) [17][18]. - Conversely, products like adipic acid and coal tar saw notable declines, with adipic acid down 7.53% [17][18]. Key Companies and Earnings Forecasts - The report provides earnings per share (EPS) forecasts for various companies, indicating a positive outlook for firms like Xinyangfeng and Senqilin, with projected EPS growth [10]. - It lists several companies with strong dividend yields, such as Yuntianhua and Xingfa Group, which are expected to attract investor interest [20].