浙江巨化股份有限公司 股票简称：巨化股份 股票代码：600160 公告编号：临 2025－35 2025 年上半年主要经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 浙江巨化股份有限公司（以下简称"公司"）根据《上海证券交易所上市公司 自律监管指引第 3 号——行业信息披露（第十三号化工）》有关规定，将公司 2025 年上半年主要经营数据披露如下： | 主要产品 | 产量 | 同比 | 外销量 | 同比 | 营业收入 | 同比 | | --- | --- | --- | --- | --- | --- | --- | | | 吨 | % | 吨 | % | 万元 | % | | 氟化工原料 | 602145.62 | 11.44 | 187526.53 | 11.72 | 68059.20 | 23.16 | | 制冷剂 | 285057.83 | -5.12 | 154588.31 | -4.19 | 608652.07 | 55.09 | | 含氟聚合物材料 | 69098.79 | 8.49 | 22 ...

化工板块午后猛拉！反映化工板块整体走势的化工ETF（516020）震荡上行，截至发稿，盘中场内价格 最高涨幅达到1.48%，截至发稿，涨1.32%。 主力资金狂扫70亿元！化工板块午后猛拉，化工ETF（516020）上探1.48%，板块估值仍处十年低位！ 东兴证券指出，我国化工行业景气有望底部回暖，行业供需格局预期改善。2025年上半年，化工品价格 指数小幅震荡下行，化工行业仍处于低景气阶段，但目前全球能源类成本已从高位回落，同时，从供 给、需求、库存角度看，行业已出现积极变化。综合来看，在行业供需格局预期改善的背景下，我国化 工行业景气有底部回暖的迹象。 方正证券表示，2025年2季度化工景气底部延续，市场风格以事故驱动的涨价及主题行情为主，基础化 工整体估值在底部区间稍有修复。机构持仓方面，2025年1季度主动基金降低化工板块配置，景气度较 好的氟化工板块为主要加仓方向。从交易的时间窗口期看，当前化工子版块位于底部也有两年时间跨度 了，离反转或已不远。 如何把握化工板块反弹机遇？借道化工ETF（516020）布局效率或更高。公开资料显示，化工ETF （516020）跟踪中证细分化工产业主题指数，全面覆盖化 ...

此外，在具体实施方面，要"锻长板"，又要"补短板"，即巩固和强化已有优势，并加强技术创新与研 发，满足下游产业升级所衍生出的新需求；还要塑造新优势，积极探索新的发展方向和业务领域，强化 上下游产业链的合作，培育新的增长点。此外，企业还需注重"练内功、防风险"，有效管控成本，合理 利用研发资金，大力提高自身的可持续发展能力；加强行业自律，维护市场公平秩序，以保障企业的整 体盈利能力。 虽然目前"结构性短缺"已成市场供需主要矛盾，部分高技术含量的高性能石化产品国内供应明显偏低， 但未来我国化工新材料自给率将逐步上升。卜新平表示，根据预测，到2030年总体自给率将达到90%。 其中，高端聚烯烃塑料自给率83%，工程塑料自给率89%，特种橡胶及弹性体自给率90%，高性能纤维 自给率85%，功能性膜材料自给率88%，电子化学品自给率85%。此外，聚氨酯材料、氟硅材料更将实 现净出口。 中化新网讯 在日前举行的中部(郑州)化工产业高质量发展大会上，化工新材料专委会秘书长卜新平表 示，我国化工新材料产业在快速发展的同时结构性缺陷问题凸显，但高端不足的局面只是暂时的，到 2030年自给率有望达90%。他建议行业企业围绕汽车、 ...

芳烃橡胶早报 研究中心能化团队 2025/07/08 P T A 日期 原油 石脑油 日本 PX CFR 台湾 PTA内盘现 货 POY 1 50D/4 8F 石脑油裂 解价差 PX加工差 PTA加 工差 聚酯毛利 PTA平衡 负荷 PTA负 荷 仓单+有 效预报 TA基差 产销 2025/0 7/01 67.1 571 861 4980 6990 66.98 290.0 287 132 85.7 78.2 34428 200 0.30 2025/0 7/02 69.1 572 854 4925 6955 65.67 282.0 271 133 85.7 78.2 34428 150 0.45 2025/0 7/03 68.8 577 850 4890 6890 73.08 273.0 253 95 85.7 78.2 33218 145 0.45 2025/0 7/04 68.3 579 840 4835 6885 78.11 261.0 256 139 82.8 78.2 33074 105 0.35 2025/0 7/07 69.6 577 842 4810 6770 66.98 265.0 213 5 ...

如今，从画质清晰、价格亲民的国产电视，到满足各种需求、应用于不同领域的电子屏幕，市场上 一应俱全，这背后是怎样的科技支撑？ 高效的生产、丰富的产品，源于该公司对研发的不断投入。高新原介绍："公司拥有软件、硬件研 发中心各3个，每年研发投入占公司总投入的20%，产品的研发落地速度远超同类企业。" 新型电子显示及半导体产业链是咸阳市16条重点产业链之一。咸阳高新区以打造千亿级电子显示产 业集群为目标，先后引进了40多户上下游配套企业，经过多年发展，形成了从石英砂到电视整机的全产 业链。 该公司生产车间的生产线上，工人有条不紊地组装、焊接显示屏零部件。 "全球每3个显示器，就有1个来自冠捷科技分布在全球的12个制造基地。"该公司总经理助理高新原 告诉记者，"2018年至今，公司累计产值达130亿元。大到70寸高清电视、办公会议大屏，小到电子桌牌 等，各类产品出口波兰、德国、巴西等30余个国家，覆盖教育、医疗、办公等多个场景。" "生产线上每8秒就有一台液晶电视被制造出来。"高新原说，"从2018年建厂之初，我们就提前规划 了智能化工厂建设，实现各生产环节互联互通、紧密衔接。我们还在不断更新生产智能设备，确保各环 节 ...

| | 国投期货 | | | 化工日报 | | --- | --- | --- | --- | --- | | | | 操作评级 | | 2025年07月07日 | | 影丙烯 | なな女 | 塑料 | な女女 | 庞春艳 首席分析师 | | 苯乙烯 | 女女女 | РХ | ☆☆☆ | F3011557 Z0011355 | | PTA | ななな | 乙二醇 | ☆☆☆ | | | 短纤 | 女女女 | 瓶片 | ななな | 牛卉 高级分析师 | | 甲醇 | 女女女 | 尿素 | ☆☆☆ | F3003295 Z0011425 | | PVC | 女女女 | 烧碱 | ☆☆☆ | 周小燕 高级分析师 | | 玻璃 | 文文文 纯碱 | | 女女女 | F03089068 Z0016691 | | | | | | 王雪忆 分析师 | | | | | | F03125010 | | | | | | 010-58747784 | | | | | | gtaxinstitute@essence.com.cn | 【甲醇】 尿素日产环比下降明显。但同比仍旧维持高位，近期雨水天气较多推动农业用肥积极性增加，并且七月 ...

行业报告 | 行业研究周报 基础化工 证券研究报告 D-阿洛酮糖获批，TDI、DMF 价格上涨 上周指 25 年 6 月 23-29 日（下同），本周指 25 年 6 月 30 日-7 月 6 日（下同）。 本周重点新闻跟踪 7 月 2 日，国家卫健委官网发布《关于 D—阿洛酮糖等 20 种"三新食品"的公 告》，根据《中华人民共和国食品安全法》规定，审评机构组织专家对 D-阿洛酮 糖等 5 种物质申请作为新食品原料，氨基肽酶等 9 种物质申请作为食品添加剂新品 种，月桂酸铵等 6 种物质申请作为食品相关产品新品种的安全性评估材料进行审查 并通过。 本周重点产品价格跟踪点评 本周 WTI 油价上涨 1.5%，为 66.5 美元/桶。 重点关注子行业：本周 TDI/DMF/乙二醇/电石法 PVC 价格分别上涨 6.7%/5.1%/0.5%/0.1%；VE/重质纯碱/轻质纯碱/聚合 MDI/醋酸/纯 MDI/钛白粉/VA/橡 胶/烧碱价格分别下跌 7.6%/7.4%/5.5%/4.3%/2.3%/1.8%/1.5%/0.8%/0.7%/0.5%；氨纶/乙烯 法 PVC/尿素/固体蛋氨酸/液体蛋氨酸/粘胶长丝/粘胶 ...

Investment Rating - The investment rating for the industry is "Outperform the Market" [5][6]. Core Views - The report highlights that the liquor sector, particularly Moutai, is stabilizing in price, and attention should be paid to the second-quarter performance of the sector [3][12]. - The food and beverage sector saw a slight increase of 0.74% this week, underperforming the Shanghai Composite Index by 0.67 percentage points [2][22]. - The report emphasizes the importance of consumer demand and market health, with companies focusing on destocking and promoting sales in the short term while nurturing consumer engagement and internationalization in the long term [14][21]. Summary by Sections Liquor Sector - Moutai's stock buyback reached 3.3821 million shares, accounting for 0.27% of total shares, with a total expenditure of 5.202 billion yuan [3][12]. - The liquor index increased by 1.2%, indicating a potential valuation recovery driven by incremental policies [14]. - Recommended stocks include Moutai, Shanxi Fenjiu, and Wuliangye, which have demonstrated resilience through multiple cycles [14][21]. Consumer Goods - The report notes that the recent warm weather is favorable for beer consumption, with expectations for slight sales growth among major beer brands [15]. - The snack sector is experiencing a trend of differentiation, with recommendations for companies that are innovating in products and channels [16][17]. - The report suggests focusing on leading companies in the seasoning industry, such as Yihai International and Haitian Flavoring, as they show resilience [18]. Frozen Foods - The frozen food sector is stable, with companies actively developing new products despite the off-season [19]. - Anji Food's recent IPO on the Hong Kong Stock Exchange raised 2.302 billion HKD, which will be used to enhance sales networks and optimize supply chains [19]. Dairy Products - The dairy sector is expected to see a gradual recovery in demand, with supply pressures easing and potential policy catalysts on the horizon [20]. - The report recommends focusing on leading dairy companies that are well-positioned for upward elasticity in 2025 [20]. Beverages - The beverage industry is entering a peak season, with expectations for continued growth in segments like sugar-free tea and energy drinks [21]. - The report recommends East Peak Beverage, which is accelerating its national and platform expansion [21].

Core Insights - The report predicts that Brent crude oil prices will fluctuate around $65-70 per barrel in the second half of 2025, driven by tight supply and slow demand growth, with potential short-term spikes due to geopolitical factors [4][9] - The petrochemical industry is expected to gradually recover from its bottoming out phase, returning to a normal capacity cycle constrained by credit boundaries, leading to a slow recovery in profitability in 2025 and beyond [4][10] - Investment opportunities are highlighted in high-quality growth stocks, coal chemical equipment investments, and high-dividend sectors, emphasizing a bottom-up investment approach [4][10] Oil Price Trends - Oil prices experienced a two-phase trend in 2025: a decline from $74.64 to $60.23 per barrel (down 19.31%) until May 3, followed by a recovery to $77.01 per barrel (up 27.86%) after May 3 due to seasonal demand and geopolitical tensions [7][25] - The report indicates that global oil supply remains tight, with non-OECD countries contributing to demand growth, which will limit the extent of price declines [9][27] Industry Performance - Global refining capacity is projected to grow by 440,000 barrels per day from 2022 to 2028, with China contributing significantly to this increase [27][33] - The report notes that domestic refined oil demand is nearing its peak, with a decline in consumption due to economic weakness and competition from electric vehicles [39][45] - The petrochemical sector is experiencing a weak recovery, with some chemical products showing improved profitability despite high raw material costs [8][45] Investment Themes - The report emphasizes four main investment themes: 1. Quality growth and leading companies in the industry experiencing volume and price increases [10] 2. Opportunities in high-end materials and technology import substitution [10] 3. Investments related to the upcoming coal chemical investment cycle [10] 4. High dividend yielding state-owned enterprises benefiting from economic recovery [10][11] Recommendations - Key investment targets include leading companies in ethylene production, coal chemical leaders, and high dividend stocks such as China National Offshore Oil Corporation and China Petroleum [11][10] - The report suggests focusing on companies that are positioned to benefit from the recovery in domestic demand and the transition to high-end materials [11][10]

展览面积：预计达 130,000 平方米，相比上一届进一步扩容，为参展企业提供更广阔的展示空间。 参展企业：预估将吸引超过 2500 家来自全球各地的化工企业参展，企业类型涵盖了能源与石油化工巨头、基础化工原料生产商、化工新材料创新企业、精 细化工专业厂商，以及化工工程与装备、化工安全与环保等领域的领先企业，规模创历史新高。 展会时间：2025年9月17-19日 展会地点：上海新国际博览中心 展会咨询：1*5*1*7*9*5*6*7*2*3*0*李婷 展会规模与影响力 2025中国国际化工装备博览会(ICIF2025)将于9月17-19日在上海新国际博览中心盛大举办，作为展会重要组成部分的化工流体输送解决方案展区，将集中展 示全球最前沿的流体技术创新成果。本次展会以"数字化赋能化工未来"为主题，预计吸引超过1000家国内外龙头企业参展，打造化工流体技术领域的全球首 发平台。 专业观众：过往展会吸引了大量来自化工及相关行业的专业观众，包括化工产品采购商、经销商、工程师、科研人员、行业分析师等。预计 2025 年展会将 吸引来自全球数十个国家和地区的超过 80,000 名专业观众前来参观、交流与采购。 能源与石油 ...