【石化化工】煤化工：结构性调整与产业升级并行，供需有望持续优化——石化化工反内卷稳增长系列之十（赵乃迪/蔡嘉豪/王礼沫）

Group 1 - The core viewpoint of the article emphasizes the Chinese government's strong stance on combating "involution" in various industries, highlighting a series of meetings and reports that outline strategies for market optimization and competition regulation [3][4][5]. - The government aims to enhance the clean and efficient utilization of coal, with a target to establish a comprehensive clean utilization system by 2030, focusing on improving coal conversion efficiency and pollution control [4][6]. - The coal chemical industry is expected to undergo structural adjustments and upgrades, with a projected balance in supply and demand by 2025, while also facing both pressures and opportunities for transformation [5][6]. Group 2 - In 2024, China's modern coal chemical industry is projected to have a coal conversion capacity of 138 million tons of standard coal per year, with a conversion volume of approximately 120 million tons, replacing about 38.1 million tons of oil and gas equivalents [6][7]. - The total revenue of the modern coal chemical industry in 2024 is estimated to be around 202.66 billion yuan, reflecting a year-on-year growth of 4.2%, while the total profit is expected to reach approximately 11.93 billion yuan, marking a significant increase of 178.1% [6][7]. - The coal chemical industry is becoming increasingly important for food security and supply chain stability, with significant contributions from coal-based synthetic ammonia and methanol production [7].