截至2026年1月28日 13:29，中证石化产业指数(H11057)强势上涨3.13%，化工行业ETF易方达(516570)一 度涨超4%，现涨3.23%，盘中换手8.22%，成交4633.00万元。 化工行业ETF易方达（516570，场外联接A/C: 020104/020105）一键打包三桶油、万华化学等石油石 化、基础化工产业龙头，跟踪的中证石化产业指数指数构成接近于石化化工板块中哑铃策略标的，同时 涵盖高股息+高成长成份券，2023年以来收益表现在可比化工行业指数中保持领先。 化工行业ETF易方达(516570)管理+托管费率0.15%+0.05%/年，显著低于石化化工板块的同类ETF产品， 较低的费率能够有效为投资者降低成本支出，以更高性价比布局石化化工产业供需两端共振向好发展机 遇！ 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 从资金净流入方面来看，化工行业ETF易方达(516570)近8天获得连续资金净流入，最高单日获得 7496.68万元净流入，合计"吸金"2.80亿元。 消息面上，美国北达科他州因严寒天气而减产石油8万-11万桶/日。国信期货指出，上周五一场伴有 ...

Investment Rating - The report maintains an "Optimistic" rating for the chemical industry [2]. Core Insights - In Q4 2025, the overall allocation of public funds in the chemical sector has significantly increased, indicating a bottoming out and potential investment opportunities [2]. - The top ten chemical stocks held by public funds saw a recovery in their market value share, with a notable increase in the proportion of leading blue-chip stocks, suggesting a preference for stable investments in cyclical products with price elasticity [2][12]. - The total market value of the top 30 chemical stocks held by public funds reached approximately 79.89 billion, reflecting a significant increase of about 45.23% compared to the previous quarter [24]. Summary by Sections 1. Q4 2025 Public Fund Chemical Holdings Changes - The proportion of heavy chemical stocks in overall public fund holdings increased by 0.70 percentage points to 2.37%, marking a new high for 2025 [7]. - Regional allocations also saw increases, with East China rising by 0.63 percentage points to 2.33%, South China by 0.96 percentage points to 3.02%, and North China by 0.44 percentage points to 1.44% [7]. 2. Changes in the Number of Funds Holding Chemical Stocks - The number of funds holding chemical stocks increased significantly, driven mainly by blue-chip stocks. The top three stocks with the highest increase in the number of funds were Wanhua Chemical, China National Offshore Oil Corporation (CNOOC), and Hualu Hengsheng, with increases of 119, 85, and 75 funds respectively [15][19]. 3. Total Market Value and Concentration of Chemical Holdings - The total market value of the top 30 chemical stocks held by public funds increased significantly, with these stocks accounting for 84.68% of the total market value of all heavy chemical stocks, an increase of 3.34 percentage points [24]. - The leading stocks by market value included Wanhua Chemical at approximately 89.41 billion, CNOOC at 67.53 billion, and Juhua Co., Ltd. at 59.78 billion [24].

Core Viewpoint - The chemical industry ETF managed by E Fund has shown significant growth, with the index and constituent stocks experiencing notable increases in value, indicating a strong performance in the sector [1][2]. Group 1: Index Performance - As of January 28, 2026, the CSI Petrochemical Industry Index (H11057) rose by 3.28%, with constituent stocks such as BANG Bio rising by 10.16%, Zhejiang Longsheng by 9.99%, and Satellite Chemical by 8.59% [1]. - The E Fund Chemical Industry ETF (516570) increased by 3.41%, with a latest price of 1.15 yuan [1]. - Over the week leading up to January 27, 2026, the E Fund Chemical Industry ETF saw a cumulative increase of 2.77% [1]. Group 2: Liquidity and Trading Volume - The E Fund Chemical Industry ETF had a turnover rate of 6.24% during the trading session, with a transaction volume of 34.99 million yuan [1]. - The average daily trading volume for the ETF over the past week was 38.89 million yuan [1]. Group 3: Fund Size and Shares - The latest size of the E Fund Chemical Industry ETF reached 549 million yuan, marking a one-year high [1]. - The ETF's latest share count reached 494 million shares, also a one-year high [1]. Group 4: Net Inflows - The E Fund Chemical Industry ETF experienced continuous net inflows over the past eight days, with a maximum single-day net inflow of 74.97 million yuan, totaling 280 million yuan in net inflows [1]. - The average daily net inflow was 35.02 million yuan [1]. Group 5: Top Holdings - As of December 31, 2025, the top ten weighted stocks in the CSI Petrochemical Industry Index accounted for 56.73% of the index, including companies like Wanhua Chemical, China Petroleum, and China Petrochemical [2].

丙烯日报 | 2026-01-28 现货供需仍偏紧，成本端驱动仍存 市场要闻与重要数据 丙烯方面：丙烯主力合约收盘价6248元/吨（-72），丙烯华东现货价6475元/吨（+35），丙烯华北现货价6405元/吨（+55）， 丙烯华东基差227元/吨（+107），丙烯山东基差157元/吨（+127）。丙烯开工率71%（-4%），中国丙烯CFR-日本石 脑油CFR252美元/吨（+7），丙烯CFR-1.2丙烷CFR83美元/吨（+11），进口利润-426元/吨（-24），厂内库存38980吨 （-7290）。 丙烯下游方面：PP粉开工率31%（-0.84%），生产利润-305元/吨（-55）；环氧丙烷开工率73%（+1%），生产利润-288 元/吨（-4）；正丁醇开工率87%（+0%），生产利润867元/吨（+116）；辛醇开工率96%（+2%），生产利润916元/吨 （+60）；丙烯酸开工率82%（-1%），生产利润203元/吨（+25）；丙烯腈开工率75%（-3%），生产利润-1131元/吨（+44）； 酚酮开工率86%（-4%），生产利润-828元/吨（-25）。 供应端，PDH装置停车消息逐步兑现，巨正源 ...

Group 1 - The chemical sector is experiencing a resurgence, with the Chemical ETF (516020) showing a price increase of over 2.8% and potentially reaching a new three-year closing high [1] - The Chemical ETF has attracted significant capital inflow, with a net subscription of 1.422 billion yuan in the last five days and 2.14 billion yuan in the last ten days, indicating strong buying momentum [1] - According to Guangfa Securities, the chemical industry typically follows a five-year cycle, and the current phase is characterized by a recovery in profitability and improved demand expectations [1] Group 2 - The Chemical ETF (516020) and its linked fund (012537) track the CSI segmented chemical industry theme index, with nearly 50% of its holdings concentrated in large-cap leading stocks such as Wanhua Chemical and Salt Lake Industry [2] - The remaining 50% of the portfolio includes leading stocks in sub-sectors like phosphate fertilizers, fluorochemicals, and nitrogen fertilizers, allowing for comprehensive investment opportunities in the chemical sector [2] Group 3 - Looking ahead, Zhongyin Securities projects that the chemical industry's prosperity will be at a low point in 2025, with potential recovery in profitability expected by 2026 due to measures like "anti-involution" and rapid development in new materials [1]

Group 1 - The A-share market shows strong performance in the chemical sector, particularly with Wanhua Chemical (600309.SH) being highlighted as one of the top ten core assets in the "Betting on China" list for 2026 by Gelonghui [1] - Wanhua Chemical's stock price surged over 6% during trading, reaching 89.98 yuan, marking a new high since October 2024 [1]

Group 1 - The core viewpoint of the article highlights the strong performance of chemical stocks in the A-share market, particularly Wanhu Chemical, which saw its stock price rise over 6% to reach 89.98 yuan, marking a new high since October 2024 [1] - As of January 26, 2026, the China Chemical Price Index increased to 4084, reflecting a month-on-month rise of 4.2%, indicating a positive trend in the chemical industry [1] - The year-on-year decline in the Producer Price Index (PPI) for the chemical raw materials and chemical products manufacturing industry, as well as the chemical fiber manufacturing industry, has narrowed, suggesting that price pressures in the industry are continuing to ease [1]

知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 根据国家统计局数据显示：2025年12月中国乙烯产量为356万吨，同比增长3%；2025年中国乙烯累计产 量为4150.8万吨，累计增长6.4%。 2020-2025年中国乙烯产量统计图 数据来源：国家统计局，智研咨询整理 上市企业：中国石油（601857）,中国石化（600028）,万华化学（600309）,荣盛石化（002493）,盐湖股 份（000792）,宝丰能源（600989）,东方盛虹（000301）,巨化股份（600160）,君正集团（601216）,上 海石化（600688） 相关报告：智研咨询发布的《2026-2032年中国乙烯行业市场全景调研及未来趋势研判报告》 ...

今日化工板块继续强势上涨，化工ETF天弘(159133)标的指数上涨2.47%，自去年12月17日以来累 计上涨27.93%，资金更是持续涌入化工ETF天弘(159133)，已连续20日净申购，合计净流入10.7亿元， 今日盘中继续获资金净申购1.21亿份，冲击"21连吸金"。 （责任编辑：王治强 HF013） 资金持续涌入化工ETF的背后是供给收缩、需求端回暖、以及反内卷政策的多重因素推动： 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ①供给端收缩：全球范围内化工产能出清加速，如欧洲石化行业关闭多套裂解装置，韩国巨头宣布 减产。 ④目前，A股共有1201家上市公司披露2025年业绩预告，有色金属、化工、半导体等行业业绩回暖 较为明显。 宝城期货指出，本轮化工板块并非短期资金炒作的结果，而是成本端企稳、供给端优化、需求端复 苏、政策端赋能四大核心因素共振，更是化工行业告别"内卷"，迈入高质量发展的拐点 ...

Group 1 - Wanhua Chemical's stock increased by 5.06% to 88.99 CNY per share, with a trading volume of 3.239 billion CNY and a turnover rate of 1.18%, resulting in a total market capitalization of 278.581 billion CNY [1] - Wanhua Chemical, established on December 16, 1998, and listed on January 5, 2001, is located in Yantai, Shandong Province, and specializes in the development, production, and application of various isocyanate products and their derivatives, as well as polyurethane systems and additives [1] - The company's revenue composition includes: polyurethane series 40.58%, petrochemical series 38.43%, fine chemicals and new materials series 17.19%, and others 12.46% [1] Group 2 - Huafu Fund holds Wanhua Chemical as its top position in the Huafu Growth Enterprise Selected Stock A (009398), with 161,200 shares, accounting for 8.02% of the fund's net value, resulting in a floating profit of approximately 691,500 CNY [2] - The Huafu Growth Enterprise Selected Stock A (009398) was established on June 18, 2020, with a current scale of 154 million CNY, and has achieved a year-to-date return of 10.86% [2] - The fund manager Chen Qiming has a tenure of 11 years and 128 days, with a total asset scale of 1.467 billion CNY, achieving a best return of 370.25% during his tenure [2]