Core Insights - The basic chemical industry is experiencing stable demand with global supply dominance, focusing on sub-industries such as sucralose, pesticides, MDI, and amino acids [1] - Domestic demand-driven segments like refrigerants, fertilizers, and dyes are expected to mitigate tariff impacts, with active performance in phosphate, potassium, compound fertilizers, and dye industries [1] - The cyclical bottom is becoming clearer, with marginal improvements in supply and demand for sub-industries like silicone and spandex due to prioritized capacity recovery [1] - From January to August, the total profit of the chemical raw materials and chemical products manufacturing industry decreased by 5.5% year-on-year, although prices for products like hydrogen peroxide and hydrofluoric acid have risen sharply due to concentrated maintenance and support from new energy demand [1] - The industry is in a rebalancing phase following capital expenditure release, necessitating attention to oil price fluctuations and new capacity risks [1] Industry Overview - The chemical leader ETF (516220) tracks the sub-sector chemical index (000813), which selects listed companies involved in organic and inorganic chemicals, fertilizers, and pesticides to reflect the overall performance of the chemical industry [1] - The sub-sector chemical index focuses on the chemical industry, selecting representative enterprises as constituent stocks, emphasizing growth potential and market position to comprehensively showcase the overall development trend of the chemical industry [1]