三代制冷剂涨价序幕拉开，看好板块中长 期配置价值 ——三代制冷剂涨价点评 核心观点 投资建议与投资标的 投资建议：三代制冷剂涨价序幕拉开，旺季来临价格有望继续上探。配额政策延续，看 好制冷剂景气上行，配额份额居前企业有望受益，看好板块中长期配置价值。部分相关 标的：巨化股份(600160，未评级)、三美股份(603379，未评级)、昊华科技(600378，未 评级)、永和股份(605020，未评级)。 风险提示：原料价格剧烈波动，制冷剂需求不及预期，四代制冷剂等替代品进展较快。 基础化工行业 行业研究 | 动态跟踪 国家/地区 中国 行业 基础化工行业 报告发布日期 2026 年 03 月 03 日 看好（维持） 陈传双 执业证书编号：S0860525110003 chenchuanshuang@orientsec.com.cn 021-63326320 | 磷化工战略重要性受到市场认知 | 2026-02-28 | | --- | --- | | PVC 能否成为下一个电解铝 | 2026-02-09 | | 草酸需求预期再次提升 | 2026-02-08 | 有关分析师的申明，见本报告最后部分。其他重要信 ...

Group 1 - The core viewpoint of the article emphasizes the strategic reassessment of rare earth permanent magnets, indicating that the lower price limit of MP may open up a ceiling for rare earth prices, with the industry expected to experience a "volume and price increase" in the third quarter, supported by the approval of export licenses for domestic companies, which could significantly improve the industry's fundamentals [1] - The article highlights a company that has seen a year-on-year performance increase of over 150% in the first half of the year, driven by rising prices of third-generation refrigerants, liquid cooling in data centers, robotics, and core materials for capacitors, suggesting a broad growth potential [1]