行业周报：三井TDI装置即将复产，吉林石化百万吨级乙烯装置开车成功-20250907

Investment Rating - The report maintains a positive outlook on the basic chemical industry, suggesting that leading companies with significant scale and cost advantages will benefit from economic recovery and demand resurgence [4][8]. Core Insights - The report highlights the recovery of the TDI production facility by Mitsui and the successful commissioning of a new ethylene plant by Jilin Petrochemical, indicating positive developments in the industry [3][4]. - It emphasizes the strong competitive position of domestic tire manufacturers and suggests that rare growth stocks in this sector are worth attention [4]. - The report notes a potential recovery in consumer electronics, recommending upstream material companies as beneficiaries of this trend [4]. - It identifies several resilient cyclical industries, such as phosphate and fluorine chemicals, which are expected to see improved market conditions due to supply constraints and rising demand [5][8]. Summary by Sections Market Performance - The Shanghai Composite Index fell by 1.18%, while the ChiNext Index rose by 2.35%. The CITIC Basic Chemical Index increased by 0.15%, and the Shenwan Chemical Index decreased by 1.36% [14][17]. - The top-performing sub-industries included organic silicon (3.59%), modified plastics (2.46%), and tires (2.22%), while the worst performers were other plastic products (-4.72%) and compound fertilizers (-3.04%) [17][18]. Industry Dynamics - Mitsui's TDI plant is set to resume production after a chlorine leak incident, with expectations of stable product supply [3]. - Jilin Petrochemical's new ethylene plant has successfully started operations, increasing its total ethylene capacity to 1.9 million tons per year [3]. Investment Themes - Tire Sector: Domestic tire companies are noted for their strong competitive edge, with recommendations to focus on companies like Sailun Tire and Linglong Tire [4]. - Consumer Electronics: A gradual recovery is anticipated, with upstream material companies expected to benefit from increased demand in the panel supply chain [4]. - Cyclical Industries: Phosphate and fluorine chemical sectors are highlighted for their resilience, with recommendations for companies like Yuntianhua and Juhua [5][8]. - Leading Companies: The report suggests that leading companies in the chemical sector, such as Wanhua Chemical and Hualu Hengsheng, will benefit from economic recovery and demand resurgence [8].