2025第12届世界化学工程大会暨第21届亚太化工联盟大会将于今 年7月在京召开 新华财经北京3月25日电 3月24日，"2025第12届世界化学工程大会暨第21届亚太化工联盟大会"（WCCE 12& APCChE 2025） 新闻发布会在北京国家会议中心举行。大会秘书长、亚太化工联盟主席、中国化工学会副理事长兼秘书长方向晨宣布，这场 以"迎接全球挑战的化学工程范式变革"为主题的全球顶级学术与产业盛会，将于2025年7月14-18日北京国家会议中心召开，预计 将有来自50多个国家和地区的5000余名化工领域各界人士齐聚北京，共享盛宴。 方向晨秘书长表示，20世纪以来，伴随着技术工艺的不断创新突破，化学工程行业实现了蓬勃快速发展。当前，化工行业正 在进入新的"蝶变"期，需要迎接和创造新的范式变革，激发化工"新质生产力"和新一轮增长点。近年来，中国化学工业取得了突 飞猛进的发展，受到全世界的瞩目和关注。世界化学工程大会与亚太化工联盟大会首次联袂到中国召开，将深刻推动世界化工学 术界、科技界和产业界的交流和融合，推动中国化工产业以新质生产力引领产业升级，以绿色化工推动产业变革。大会也将成为 全面展示中国化工发展丰硕 ...

Investment Rating - The report maintains a "Positive" investment rating for the industry [12] Core Viewpoints - The report emphasizes the importance of focusing on China Chemical's potential for valuation recovery due to its low valuation and strong business model [2][10] - China Chemical is identified as a high-quality central enterprise in construction, with a good commercial model and superior operational quality, which could lead to significant valuation recovery if multiple catalysts emerge [6][10] Summary by Sections Company Overview - China Chemical is recognized as a low-valuation, high-quality central enterprise in construction, with a strong business model and operational quality [6][10] - The company has a high overseas revenue proportion, expected to exceed 20% in the first half of 2024, providing better growth elasticity compared to traditional construction enterprises [6][8] Current Valuation - The company's current valuation is at 0.75x PB, which is considered low historically, influenced by market style shifts and weak economic expectations [7][10] - The report suggests that the current valuation and stock price are at a temporary bottom, providing a sufficient margin of safety [7] Potential Catalysts 1. **Chemical Industry Developments**: The successful industrialization of the butadiene-based adiponitrile project is expected to contribute positively to China Chemical's performance [8] 2. **Xinjiang Coal Chemical Projects**: Continued policy support for coal chemical development in Xinjiang is anticipated to accelerate investments, with China Chemical holding a significant market share [8] 3. **International Situation Changes**: The easing of the Russia-Ukraine conflict may benefit China Chemical's overseas operations, which account for a significant portion of its revenue [9] 4. **Market Value Management**: The report highlights the importance of market value management initiatives that could enhance investor sentiment and valuation recovery for China Chemical [9]