基础化工行业：化工龙头估值反弹，对行业复苏期待提升

Investment Rating - The industry investment rating is maintained as "Positive" [5] Core Viewpoints - The valuation rebound of leading companies in the chemical sector has raised expectations for industry recovery. Recent stock price rebounds of major petrochemical companies like Luxi Chemical and Hengli Petrochemical indicate a shift, although the overall industry sentiment remains low with many chemical product prices and profits still at the bottom. The rise in stock prices is primarily attributed to valuation improvements rather than significant changes in industry conditions. The anticipation of "anti-involution" policies is expected to drive a quicker recovery in industry sentiment [8] - The green polyester materials sector is gaining attention and is expected to become a new industry trend. Recent investments in bio-based polyester fibers and chemical recycling projects indicate that various green polyester technologies are entering the industrialization phase. This trend is likely to create new investment opportunities as the industry moves towards low-carbon demands [8] Summary by Sections Investment Recommendations and Targets - The report suggests a positive outlook for the petrochemical industry, recommending stocks such as Sinopec (600028, Buy), Hengli Petrochemical (600346, Buy), and Rongsheng Petrochemical (002493, Buy). In the bulk basic chemical sector, recommended stocks include Wanhua Chemical (600309, Buy), Wankai New Materials (301216, Buy), and Huayi Group (600623, Buy). For the pesticide formulation segment, recommended stocks are Runfeng Co., Ltd. (301035, Buy), Guoguang Co., Ltd. (002749, Buy), and Hailir (603639, Buy) [3]