Group 1: Market Overview - The domestic market indices showed slight increases, with the Shanghai Composite Index closing at 3,597.94, up 0.12% [4] - The Shenzhen Component Index closed at 11,217.58, up 0.44%, while the ChiNext Index rose by 0.96% to 2,362.60 [4] Group 2: Industry Insights - Direct Air Capture (DAC) - The DAC technology is gaining traction as a significant carbon removal method, with advantages such as smaller scale, modular construction, and flexible site selection [6][7] - The global DAC market is projected to exceed $1.7 billion by 2030, with the U.S. demand expected to surpass 100 million tons by 2050 [6] - The U.S. Department of Energy plans to support DAC facilities with up to $1.8 billion in funding, alongside tax credits of up to $180 per ton of CO₂ captured [6] - The average cost of DAC carbon removal has decreased by 54% from 2023, reaching $316 per ton in 2024 [6][7] - Solid adsorbents are identified as the core of DAC technology, with 65% of DAC companies using or developing solid adsorbents [7][9] Group 3: Company Analysis - Zhejiang Rongtai - Zhejiang Rongtai has shown steady growth in its main business, with a focus on expanding its robotics segment through strategic acquisitions [17][19] - The company reported revenue growth from 522 million yuan in 2021 to 1.135 billion yuan in 2024, with a compound annual growth rate of 29.6% [19] - The acquisition of a 15% stake in Jinli Transmission is expected to enhance its robotics product matrix and strengthen its market position [19] Group 4: Industry Insights - Biopharmaceuticals - The combination of PD-(L)1 monoclonal antibodies with ADCs is anticipated to become a standard first-line treatment for various tumors, enhancing overall response rates and overcoming resistance [14][16] - Clinical trials indicate that PD-(L)1+ADC combinations show promising results in non-small cell lung cancer (NSCLC) and triple-negative breast cancer (TNBC) [16][18] - The PD-L1 ADC HLX43 has demonstrated significant anti-tumor efficacy in late-stage NSCLC, with a notable overall response rate [16][18] Group 5: Retail Sector Insights - Chow Tai Fook - Chow Tai Fook reported a 1.9% decline in retail value for FY26Q1, with a 3.3% drop in mainland China, while Hong Kong and overseas markets saw a 7.8% increase [10][11] - The company has optimized its retail network, closing 311 stores in mainland China, while maintaining a strong performance in high-margin gold products [10][11]

化学原料板块近一年市场表现 资料来源：最闻 2025 年 7 月 28 日 行业研究/行业动态分析 投资要点： 直接空气捕集（DAC）碳移除优势显著：DAC 指通过捕集装置直接从 空气中捕集 CO₂后从环境空气中移除 CO₂的技术。CO₂在大气中与捕集 装置中的吸附材料发生反应后被有效捕获。随后，经过反应的吸附材料通过 改变热量、压力、湿度等方法实现再生，以便重新投入捕集循环，被捕获的 CO₂可被永久转化、封存甚至利用。与传统火电厂或工业碳捕集装置相比， DAC 灵活性优势突出，更易于广泛部署：1）装置的规模较小；2）可实现 模块化建设；3）其选址不受排放源位置及类型的限制。 相关报告： 【山证新材料】新能源"反内卷"政策 分析师： DAC 受欧美政府及科技巨头高度支持，《大而美》法案重申支持态度， 预计 2030 年全球 DAC 市场超 17 亿美元，2050 年美国需求超 1 亿吨。《巴 黎协定》要求发达国家带头努力实现全经济范围绝对减排目标。2024 年，美 国能源部公告将为中型和大型商业 DAC 设施和基础设施扩展平台的设计、 建设和运营提供高达 18 亿美元资金的支持，同时 45Q 税收抵免政策可对 ...