智通财经APP获悉，中国银河证券发布研报称，预计2026年Brent原油价格运行区间为60-70美元/桶，成 本端有望逐步止跌企稳。2024年以来化工行业资本开支迎来负增长，随着"反内卷"浪潮袭来及海外落后 产能加速出清，供给端有望收缩。"十五五"规划建议稿"坚持扩大内需"为未来五年定调，叠加美国降息 周期开启，化工品需求空间打开。该行认为，供需双底基本确立，政策预期强力催化，2026年化工行业 或迎周期拐点向上，开启从估值修复到业绩增长的"戴维斯双击"。 中国银河证券主要观点如下： 综合整治内卷式竞争，积极把握周期反转机会 赋能新质生产力，掘金新材料蓝海 1)PTA景气低位运行，行业反内卷呼声渐起，建议关注恒力石化、荣盛石化、新凤鸣、桐昆股份等。2) 涤纶长丝产能趋于集中，行业自律激发周期弹性，建议关注新凤鸣、桐昆股份、恒逸石化等。3)氨纶否 极泰来，行业集中度有望加速提升，建议关注华峰化学、新乡化纤。4)农药全球需求好转，底部价格品 种或迎反弹，建议关注扬农化工、润丰股份、江山股份、广信股份、利尔化学等。5)有机硅产能扩张步 入尾声，行业供需格局有望改善，建议关注合盛硅业、新安股份、东岳硅材等。6)挑战与 ...

Market Overview - The three major A-share indices collectively rose, with the Shanghai Composite Index increasing by 0.35% to 3779.52 points, reaching a nearly ten-year high during the session [1] - The Shenzhen Component Index rose by 0.45%, and the ChiNext Index increased by 0.21%, while the North China 50 Index fell by 0.96% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 15,912 billion yuan, an increase of 562 billion yuan compared to the previous day, with over 2,500 stocks rising across the market [1] Sector Performance - The combustible ice sector led the gains, with Xinjin Power rising nearly 9% and Shenkai Co. increasing over 7%, following significant breakthroughs by Chinese research teams in the large-scale utilization of combustible ice [3] - The oil and gas extraction and service sector continued to rise, with Zhun Oil Co. hitting the daily limit and Keli Co. increasing over 6%, as reports indicated adjustments in the petrochemical industry to address overcapacity [3] - Digital currency concept stocks were active, with Zhongyou Capital, Tianrongxin, and Jingbeifang all hitting the daily limit [3] - The power sector strengthened, with Shimao Energy hitting the daily limit and Shanghai Electric rising over 6% [3] - Bank stocks saw widespread gains, with Postal Savings Bank and Agricultural Bank reaching new historical highs [3] Declining Sectors - Most liquid cooling server concept stocks experienced a pullback, with Feilong Co. and Jintian Co. hitting the daily limit down [3] - PEEK concept stocks continued to decline, with Zhongyan Co. and Huami New Materials falling over 6% [3]

Market Performance - The three major A-share indices collectively rose, with the Shanghai Composite Index up 0.35% to 3779.52 points, reaching a nearly ten-year high [1] - The Shenzhen Component Index increased by 0.45%, briefly surpassing 12000 points, marking a new high since February 2023 [1] - The ChiNext Index rose by 0.21%, while the North China 50 Index fell by 0.96% [1] - The total trading volume in the Shanghai, Shenzhen, and Beijing markets reached 159.12 billion yuan, an increase of 56.2 billion yuan from the previous day, with over 2500 stocks rising [1] Sector Performance - The combustible ice sector led the gains, with Xinjin Power rising nearly 9% and Shenkai Co. increasing over 7%, following significant breakthroughs in large-scale utilization by Chinese research teams [1] - The oil and gas extraction and service sectors continued to rise, with Zhun Oil Co. hitting the daily limit and Keli Co. increasing over 6%, as reports indicated adjustments in the petrochemical industry to address overcapacity [1] - Digital currency concept stocks were active, with Zhongyou Capital, Tianrongxin, and Jingbeifang all hitting the daily limit [1] - Power stocks performed strongly, with Shimao Energy hitting the daily limit and Shanghai Electric rising over 6% [1] - Bank stocks saw widespread gains, with Postal Savings Bank and Agricultural Bank reaching historical highs [1] Declining Sectors - Most liquid cooling server concept stocks experienced a pullback, with Feilong Co. and Jintian Co. hitting the daily limit down [1] - PEEK concept stocks continued to decline, with Zhongyan Co. and Huami New Materials falling over 6% [1]