2月26日早盘，A股三大指数集体调整，化工板块逆势上涨。截至10:15，中证石化产业指数上涨 1.1%，指数成分股中，盐湖股份涨超8%，蓝晓科技涨超5%，博源化工、藏格矿业涨超3%。 近日，美国将元素磷、草甘膦等正式纳入关键战略物资管控范围，引发全球磷供应链重构预期，全 球磷资源供给格局正加速向紧平衡演变。中国作为全球磷产能占比超60%的生产大国，在此轮国际订单 转移中承接更多出口份额，行业议价能力有望增强。 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 每日经济新闻 除事件催化外，化工板块正迎来多重逻辑共振。供给端，"反内卷"政策持续推进，落后产能加速出 清，行业固定资产投资增速转负；需求端，新能源、半导体材料等新兴产业需求崛起，叠加春耕备肥旺 季临近，农化需求集中释放；出口链方面，美国关税政策调整落地，海外库存低位，补库需求有望释 放。 化工行业正从单纯的周期博弈转向"周期复 ...

摘要：【图】2025年9月河南省原油产量数据 2025年1-9月原油产量分析： 据国家统计局数据，在2025年的前9个月，河南省规模以上工业企业原油产量累计达到了176.7万吨，与 2024年同期的数据相比，下降了0.8%，增速较2024年同期低1.9个百分点，增速较同期全国低2.5个百分 点，约占同期全国规模以上企业原油产量16263.3万吨的比重为1.1%。 图表：河南省原油产量分月（累计值）统计 2025年9月原油产量分析： 单独看2025年9月份，河南省规模以上工业企业原油产量达到了19.6万吨，与2024年同期的数据相比，9 月份的产量下降了0.7%，增速较2024年同期低3.0个百分点，增速较同期全国低4.8个百分点，约占同期 全国规模以上企业原油产量1777.5万吨的比重为1.1%。 图表：河南省原油产量分月（当月值）统计 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的工 业企业。 产业调研网为您提供更多 石油化工行业最新动态 石油市场现状及前景分析 化工市场调研与发展前景 日化发展现状及前景预测润滑油市场调研及发展趋势 汽油行业监测及发展趋势 柴油 ...

摘要：【图】2025年9月河南省汽油产量数据分析 2025年1-9月汽油产量分析： 据国家统计局数据，在2025年的前9个月，河南省规模以上工业企业汽油产量累计达到了189.4万吨，与 2024年同期的数据相比，下降了11.9%，增速较2024年同期低34.0个百分点，增速较同期全国低6.6个百 分点，约占同期全国规模以上企业汽油产量11607.9万吨的比重为1.6%。 图表：河南省汽油产量分月（累计值）统计 图表：河南省汽油产量分月（当月值）统计 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的工 业企业。 产业调研网为您提供更多 石油化工行业最新动态 石油行业现状与发展趋势 化工市场现状及前景分析 日化市场调研与发展前景润滑油发展现状及前景预测汽油市场调研及发展趋势 柴油行业监测及发展趋势橡胶未来发展趋势预测 塑料现状及发展前景 化妆品发展前景趋势分析清洁护肤的现状和发展趋势 2025年9月汽油产量分析： 单独看2025年9月份，河南省规模以上工业企业汽油产量达到了21.2万吨，与2024年同期的数据相比，9 月份的产量下降了2.4%，增速较2024年同期高21 ...

Core Viewpoint - The company Maohua Shihua (000637) has reported a decline in revenue and a negative net profit for the first three quarters of 2025, indicating financial challenges despite some improvements in net profit margins [2]. Financial Performance - For the first three quarters of 2025, the company's main revenue was 2.304 billion yuan, a year-on-year decrease of 19.24% [2]. - The net profit attributable to shareholders was -93.73 million yuan, which represents an increase of 18.15% year-on-year [2]. - The net profit excluding non-recurring items was -109 million yuan, showing a year-on-year increase of 7.18% [2]. - In Q3 2025, the company's single-quarter main revenue was 823 million yuan, down 11.88% year-on-year [2]. - The single-quarter net profit attributable to shareholders was -11.07 million yuan, reflecting a year-on-year increase of 45.76% [2]. - The single-quarter net profit excluding non-recurring items was -284.11 million yuan, down 27.84% year-on-year [2]. - The company's debt ratio stood at 68.65% [2]. - Investment income was 2.4289 million yuan, while financial expenses amounted to 26.5739 million yuan [2]. - The gross profit margin was 2.51% [2]. Stock Performance - As of February 26, 2026, the stock price closed at 4.89 yuan, down 2.4% [1]. - The turnover rate was 3.37%, with a trading volume of 122,800 hands and a transaction amount of 60.5318 million yuan [1]. - On February 26, the net inflow of main funds was 624,100 yuan, accounting for 1.03% of the total transaction amount [1]. - The net inflow of speculative funds was 1.9781 million yuan, representing 3.27% of the total transaction amount [1]. - Retail investors experienced a net outflow of 2.6022 million yuan, which was 4.3% of the total transaction amount [1].

国金证券认为，原油市场当前脱离供需，预计未来一个月内价格的高波动率将不可避免。油价上涨可能 带动化工品涨价预期，而如果地缘风险溢价回落则行业成本压力下降，考虑到国内未来产业反内卷的政 策方向，有利于化工产业的长期格局优化及高质量发展。 石化ETF（159731）及其联接基金（017855/017856）跟踪中证石化产业指数，聚焦"大能源"安全逻辑。 不仅能分享下游化工品的利润修复，此外通过高配"三桶油"等炼化龙头，锁定能源上游资源价值，在油 价上行周期具备更强的业绩韧性。 截至2月26日14点31分，石化ETF（159731）涨0.75%，持仓股盐湖股份、蓝晓科技、藏格矿业等涨幅居 前。从资金净流入方面来看，石化ETF（159731）近20个交易日资金净流入总计11.53亿元。石化ETF最 新份额达17.41亿份，最新规模18.54亿元。 租用一条超大型油轮（VLCC）把原油从中东运到亚洲的价格，继周二突破17万美元/日后，周三又突破 20万美元的关口，续创2020年以来新高。 华泰期货分析，西方对影子油轮的制裁导致合规油轮数量持续下降，同时委油合规化以后需要更多的合 规油油轮进行运输，运费上涨后，东西区套利 ...

石油沥青日报 | 2026-02-26 局部现货下跌，市场观望情绪浓厚 市场分析 1、2月25日沥青期货下午盘收盘行情：主力BU2603合约下午收盘价3335元/吨，较昨日结算价下跌27元/吨，跌幅 8.03%；持仓12489手，环比下跌4630手，成交11862手，环比下跌8388手。 2、卓创资讯重交沥青现货结算价：东北，3506—3700元/吨；山东，3280—3320元/吨；华南，3220—3350元/吨； 华东，3250—3300元/吨。 昨日华北地区沥青现货价格有所上涨，山东以及华南地区沥青现货价格出现下跌，其余区域沥青现货价格基本持 稳。节后国内成交氛围较淡，沥青现货市场观望情绪浓厚。目前市场主要矛盾来自于成本端，原油端短期定价则 集中在地缘层面。本周美国与伊朗双方即将举行新一轮谈判，需要重点关注。如果谈判进展不顺，美伊冲突升级， 美国对伊朗采取军事行动，造成伊朗甚至波斯湾供应中断，则将构成巨大的上行风险。反之，如果局势缓和，原 油以及下游商品将逐步回归基本面定价，沥青虽然原料切换后成本有所上移，但终端消费的疲软仍将抑制价格的 上行空间。 策略 单边：短期震荡偏强，关注伊朗局势发展 跨期：无 跨 ...

燃料油日报 | 2026-02-26 盘面震荡运行，关注美伊谈判进展 市场分析 宏观风险、关税风险、制裁风险、原油价格大幅波动等、发电终端需求不及预期、欧佩克增产幅度超预期、船燃 需求不及预期 上期所燃料油期货主力合约日盘收跌0.34%，报2943元/吨；INE低硫燃料油期货主力合约日盘收跌1.18%，报3436 元/吨。 在春节假期期间外盘涨幅兑现后，当前市场主要影响因素仍在地缘层面，美国和伊朗新一轮谈判定于26日在瑞士 日内瓦举行，谈判进展的顺利与否将直接影响原油地缘溢价的方向，从而对包括燃料油在内的能化商品造成扰动， 需要密切关注。 就燃料油自身基本面而言，高硫燃料油在市场结构连续走强后，春节假期期间出现一定调整。目前看在地缘冲突 可控的前提下，市场并无短缺预期，只是亚太地区较强的Back结构以及高运费会阶段性抑制跨区套利船货。此外， 燃料油下游炼厂端与船燃端需求相对坚挺，国内地方炼厂会增加燃料油采购来填补委内瑞拉重油的缺口，因此高 硫油市场下方支撑仍存。 低硫燃料油方面，1月份科威特与尼日利亚出口大增导致局部供应压力攀升，市场承压运行，但随着Dangote炼厂 RFCC装置重启，科威特供应从高点回落， ...

1. Report Industry Investment Rating No information provided in the given content. 2. Core Viewpoints of the Report - High - frequency economic data focuses on four aspects: production seasonally cools down; the Spring Festival movie box - office drops nearly 40% year - on - year while tourist trips and spending hit new highs due to an extra holiday day; overall prices decline with oil, coking coal, and rebar prices falling, non - ferrous prices rising slightly, and agricultural products entering a seasonal downward trend; affected by the Spring Festival, subway ridership and peak congestion index in first - tier cities are low, while flight volume is high. Short - term attention should be paid to the progress of front - loaded fiscal efforts and the recovery of the real estate market [2][31]. 3. Summary by Relevant Catalogs Production: Seasonal Obvious Cooling - Steel: In the week of February 20, the coke oven capacity utilization rate decreased by 0.11 pct, the blast furnace operating rate increased by 0.6 pct, and the rebar output increased by 1.22 tons. The inventory of rebar increased by 57.48 tons [9]. - Petroleum Asphalt: In the week of February 11, the operating rate of domestic petroleum asphalt plants decreased by 2.8 pct at a low level [9]. - Chemicals: On February 24, the PX operating rate remained flat compared with the previous week, while the PTA operating rate decreased by 3.86 pct [9]. - Automobile Tires: In the week of February 19, the full - steel tire operating rate decreased by 28.2 pct, and the semi - steel tire operating rate decreased by 45.2 pct [10]. Demand: Spring Festival Tourism and Consumption Hit New Highs, Movie Box - Office Drops Significantly Year - on - Year - Real Estate: In the week of February 22, the commercial housing transaction area decreased, the inventory - to - sales ratio increased significantly, the land supply area dropped sharply, and the residential land transaction premium rate decreased [13]. - Movie Box - Office: In 2026, the Spring Festival movie box - office was 5.752 billion yuan, a year - on - year decrease of 39.5%; the number of moviegoers was 120 million, a year - on - year decrease of 35.8% [13]. - Tourism Consumption: Due to an extra day of the Spring Festival holiday, the number of tourist trips and spending both hit new highs. During the 9 - day Spring Festival holiday, there were 596 million domestic tourist trips and the total domestic tourism spending was 803.483 billion yuan [14]. - Automobile Sales: In the week of February 8, the average daily retail sales of passenger cars decreased by 9,218 units, and the average daily wholesale sales decreased by 15,720 units [18]. - Shipping Freight Rates: In the week of February 13, the SCFI index decreased by 1.19%, and the CCFI index decreased by 3.03%. On February 24, the BDI index increased by 1.62% compared with the previous week [20]. Prices: Non - ferrous Prices Rise, Agricultural Products Enter a Seasonal Downward Trend - Energy: On February 24, the Brent crude oil price decreased by 1.38% to $70.77 per barrel [22]. - Coking Coal: On February 24, the coking coal futures price decreased by 1.74% to 1,100.5 yuan per ton [22]. - Metals: On February 24, the LME copper, aluminum, and zinc futures prices increased by 1.78%, 0.26%, and 0.15% respectively, while the domestic rebar futures price decreased by 0.98% [23]. - Agricultural Products: On February 24, the overall agricultural product price declined, with the agricultural product wholesale price 200 index decreasing by 0.81%. The prices of pork, eggs, vegetables, and fruits changed by - 0.17%, - 2.46%, - 2.33%, and + 1.50% respectively compared with before the festival [25]. Logistics: Flight Volume is High, Spring Festival Personnel Flow Hits a New High - Subway Ridership: On February 24, the seven - day moving average of subway ridership in Beijing decreased by 125.34 million person - times, a week - on - week decrease of 18.32%; in Shanghai, it decreased by 171.29 million person - times, a week - on - week decrease of 23.57% [26]. - Personnel Flow: During the 2026 Spring Festival holiday, the cross - regional personnel flow in the whole society reached 2.81 billion person - times, a new high. The daily average was 310 million person - times, an 8.2% increase compared with the same period last year [29]. - Flight Volume: On February 24, the seven - day moving average of domestic (excluding Hong Kong, Macao, and Taiwan) flight volume increased by 3.37%, that of domestic (Hong Kong, Macao, and Taiwan) increased by 1.08%, and that of international flights increased by 0.35% [29]. - Urban Traffic: On February 24, the seven - day moving average of the peak congestion index in first - tier cities decreased by 5.79% compared with the previous week [29].

依托大气综合调度系统，南京为每一个储罐建立了"数字户籍"：类型、物料、浮盘结构、密封等 级、治理设施等信息一应录入，监管从"盲人摸象"走向"精准画像"。在此基础上，市生态环境部门坚 持"一罐一策"，指导企业科学谋划治理项目，针对周转量大、物料真实蒸气压高、涉异味物质的重点储 罐，分时、分类、分批次开展整治。 储罐会"呼吸"，关键在"鼻子"——呼吸阀。中国石化扬子石油化工有限公司安环部部长张伟军打了 个比方："传统呼吸阀就像没关紧的窗户，泄漏量大。而我们引进的低泄漏呼吸阀，泄漏量从0.4立方米/ 小时降至0.003立方米/小时，相当于把窗户关严了。"这不仅大幅减少VOCs排放，也让企业从源头上减 少物料损耗。 "呼吸"之间，藏着减排大文章。近日，生态环境部《生态环境工作简报》专题刊登《VOCs全流程 治理深入推进 各地各行业实践亮点频出（五）——江苏南京储罐深度治理典型案例》，将南京在挥发 性有机物（VOCs）储罐治理方面的探索与实践，作为典型经验向全国推广。这份被生态环境部点赞 的"南京方案"，不仅为大气治理提供了可复制路径，更在看不见的"呼吸"里，实现看得见的减排实效。 走进南京最大的化工园区——南京江北新 ...

摘要：【图】2025年8月甘肃省汽油产量数据分析 2025年8月汽油产量统计： 汽油产量：31.9 万吨 同比增长：-23.5% 2025年1-8月汽油产量统计： 汽油产量：281.5 万吨 同比增长：-13.7% 增速较上一年同期变化：低24.7个百分点 据统计，2025年1－8月，甘肃省规模以上工业企业汽油产量与上年同期相比下降了13.7%，达281.5万 吨，增速较上一年同期低24.7个百分点，增速较同期全国低8.0个百分点，约占同期全国规模以上企业汽 油产量10283.6万吨的比重为2.7%。详见下图： 图2：甘肃省汽油产量分月（累计值）统计图 增速较上一年同期变化：低34.8个百分点 据统计，2025年8月甘肃省规模以上工业企业汽油产量与上年同期相比下降了23.5%，达31.9万吨，增速 较上一年同期低34.8个百分点，增速较同期全国低21.8个百分点，约占同期全国规模以上企业汽油产量 1347.7万吨的比重为2.4%。 详见下图： 图1：甘肃省汽油产量分月（当月值）统计图 注：主要能源产品产量月度统计范围为规模以上工业法人单位，即年主营业务收入2000万元及以上的工 业企业。 产业调研网为您提供更 ...