基础化工行业报告（2025.07.07-2025.07.11）：持续关注“反内卷”和业绩线机会

Industry Investment Rating - The industry investment rating is "Outperform" [2] Core Views - The report emphasizes the importance of addressing "involution" in the industry, focusing on sectors such as silicon materials, coal chemicals, and chlor-alkali chemicals. It highlights the need for companies to enhance product quality and manage low-price competition. Attention is drawn to performance and price increases in potassium fertilizers, phosphorus fertilizers, active dyes, and pesticides as the mid-year reporting period approaches [5][6]. Summary by Sections Industry Overview - The closing index for the basic chemical industry is at 3572.47, with a weekly high of 3587.1 and a low of 2687.54. The basic chemical sector has shown a weekly increase of 1.53%, outperforming the CSI 300 index, which increased by 0.82% [2][6]. Price Movements - Significant price increases were noted in products such as chick seedlings (30.68%), monocrystalline silicon wafers (16.28%), and vitamin B1 (12.82%). Conversely, liquid chlorine saw a substantial decrease of 48.51% [9][10][23][25]. Stock Performance - Notable stock performances included significant increases for companies like Upwind New Materials (72.88%) and Hongbai New Materials (24.72%). On the downside, companies like Ruile New Materials (-15.98%) and Guangkang Biochemical (-11.04%) experienced declines [7][8][21][22]. Key Companies and Ratings - Key companies in the report include: - Wanhua Chemical (Buy, closing price 54.1, market cap 169.83 billion) - Runfeng Co. (Not rated, closing price 56.0, market cap 15.71 billion) - Yara International (Not rated, closing price 30.1, market cap 27.83 billion) - Yangnong Chemical (Buy, closing price 58.1, market cap 23.56 billion) - Meihua Biological (Buy, closing price 11.1, market cap 31.52 billion) [12][13][14].