注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 每日经济新闻 化工龙头ETF（516220）跟踪的是细分化工指数（000813），该指数从沪深市场中选取涉及精细化工、 新材料等领域的上市公司证券作为指数样本，以反映化学工业中高成长性与高技术含量板块的整体表 现。指数成分股聚焦技术创新与环保特征，全面展现中国化工产业特定领域的发展态势。 没有股票账户的投资者可关注国泰中证细分化工产业主题ETF联接C（012731），国泰中证细分化工产 业主题ETF联接A（012730）。 消息面上，2025年9月6日，国家出台政策加大对化工新材料研发及示范应用项目的资金支持，推动构建 从实验室研究到终端用户反馈的全链条创新机制，同时优化高端产品产能布局与进出口政策。 方正证券指出，我国在高端化工新材料产品和化工高端装备及尖端技术方面严重依赖国外，据工信部统 计，在1 ...

Group 1 - The core viewpoint is that the chemical industry is expected to gradually recover from its current bottoming-out phase, supported by improving supply and demand dynamics [1] - Domestic capital expenditure has entered the second half, and the trend of "anti-involution" is progressing, which is likely to enhance supply support in the future [1] - Demand is stabilizing domestically, and the rising expectations of interest rate cuts by the Federal Reserve may also support future demand expectations and the actual economic fundamentals [1] Group 2 - The Chemical Leader ETF (516220) tracks a sub-index of the chemical industry (000813), which includes listed companies in sectors such as fertilizers, pesticides, and coatings, reflecting the overall performance of the chemical sector [1] - The sub-index focuses on the chemical industry and includes key sub-sectors, selecting representative companies to showcase the market value and growth potential of the chemical industry [1] - Investors without stock accounts can consider the Guotai Zhongzheng Sub-Sector Chemical Industry Theme ETF Connect C (012731) and A (012730) [1]

Group 1 - The core viewpoint of the article highlights the implementation of the "Artificial Intelligence +" initiative, aiming for deep integration of AI with six key sectors by 2027, with a target application penetration rate of over 70% for new intelligent terminals and agents [1] - By 2030, AI is expected to fully empower high-quality development in China, with application penetration rates exceeding 90%, making the intelligent economy a significant growth driver for the national economy [1] - By 2035, China aims to enter a new stage of intelligent economy and society development, providing strong support for the realization of socialist modernization [1] Group 2 - The chemical sector is anticipated to undergo profound changes and impacts due to the application of AI, particularly in breakthroughs related to new materials and processes [1] - The Chemical Leader ETF (516220) tracks a sub-index of the chemical industry (000813), which selects listed companies involved in sub-sectors such as fertilizers, pesticides, and coatings to reflect the overall performance of the chemical sector [1] - The sub-index focuses on the chemical industry, covering multiple important sub-sectors, with constituent stocks primarily selected from representative companies to showcase the market value and growth potential of the chemical industry [1]

Group 1 - The core viewpoint is that the rapid development of downstream industries presents significant growth opportunities for companies in the new materials sector, particularly in electronic materials, new energy materials, and adsorption separation materials [1] Group 2 - In the electronic materials sector, there is a recommendation to focus on changes in the semiconductor materials industry driven by artificial intelligence, advanced packaging, and HBM, emphasizing the importance of self-sufficiency in semiconductor materials [1] - For OLED materials, the expectation is that the panel market will improve, with a focus on the increasing penetration rate of OLED and the domestic substitution of related materials [1] Group 3 - The new energy materials market in China is continuously expanding, with solid-state batteries and other new applications expected to drive the development of the related materials supply chain [1] - There is a strong demand for adsorption separation materials in emerging fields such as pharmaceuticals and new energy [1] Group 4 - The chemical leader ETF (516220) tracks a specialized chemical index (000813) that selects listed companies from sub-industries such as fertilizers, pesticides, and coatings to reflect the overall performance of the chemical sector [1] - The specialized chemical index focuses on the chemical industry, covering multiple important sub-industries, and its constituent stocks are primarily selected from representative companies in the industry to showcase market value and growth potential [1] Group 5 - Investors without stock accounts can consider the Guotai Zhongzheng specialized chemical industry theme ETF Connect C (012731) and Guotai Zhongzheng specialized chemical industry theme ETF Connect A (012730) [1]

Market Overview - The market experienced fluctuations with mixed performance across the three major indices. The Shanghai Composite Index rose by 0.13%, while the Shenzhen Component Index and the ChiNext Index fell by 0.06% and 0.47%, respectively. The total trading volume in the Shanghai and Shenzhen markets reached 2.42 trillion yuan, an increase of 158 billion yuan compared to the previous trading day [1] Gaming Industry Insights - The gaming industry is witnessing a positive demand trend, with the number of players stabilizing at approximately 670 million. However, per capita spending is on the rise, projected to reach nearly 500 yuan in 2024, indicating a robust consumption level [2] - The overseas revenue from self-developed games is expected to reach 18.5 billion USD in 2024, marking a 13% year-on-year increase and accounting for 10% of the global gaming market. The share of mobile games in the global mobile gaming market is anticipated to grow from 22% in 2018 to 28% in 2024 [2] Policy and AI Impact - Recent policies indicate a shift in the perception of the gaming industry, recognizing it as a vital part of the digital content sector. The government aims to promote gaming and e-sports consumption while encouraging the integration of traditional Chinese culture into game design [3] - AI is becoming a significant enabler in the gaming sector, transforming interactions within games. AI is evolving from a mere tool to a co-creator of content, enhancing the gaming experience through real-time interactions with non-player characters (NPCs) [3] Future Outlook for Gaming - The gaming industry's fundamentals are improving, with AI expected to significantly empower the sector. The industry exhibits a clear growth style, characterized by high volatility and strong momentum effects. The gaming ETF (516010) is suggested for investment, as the sector may experience a combination of thematic catalysts and fundamental resonance in the future [5] Chemical Industry Analysis - The chemical sector is showing strength, with the chemical leader ETF (516220) rising by 1.68%. However, the expansion phase of the chemical industry is nearing its end, with a decline in capital expenditure due to decreasing demand and lower product prices [6][7] - The introduction of anti-involution policies is expected to curb disorderly competition within the industry. The overall market sentiment is improving, with signs of a rebound in chemical product prices as the expansion cycle reaches its bottom [9] AI's Role in Chemical Industry - AI is anticipated to inject long-term growth potential into the chemical sector, particularly in areas such as formula optimization, process enhancement, and new material development. The valuation of the chemical leader ETF (516220) is currently at a PETTM of 26.94, indicating a favorable position for future growth [10]

Group 1 - The core viewpoint indicates that the export window for phosphate fertilizers has arrived, with phased exports expected in 2025, starting with a peak period from May to September, and adjustments based on domestic supply and demand dynamics [1] - Frequent chemical safety incidents have raised industry awareness, leading to potential nationwide safety inspections in the pesticide sector, which may accelerate the exit of non-compliant production capacities and support a recovery in the pesticide industry's prosperity [1] - The refrigerant market is performing strongly, with R134a prices rising significantly, supported by production quota constraints on the supply side and benefiting from the "old-for-new" policy and recovering overseas demand on the demand side [1] Group 2 - The chemical leader ETF (516220) tracks a specific chemical index (000813) that selects listed companies closely related to the chemical industry from the Chinese A-share market, covering various sub-industries such as basic chemicals and specialty chemicals [1] - Investors without stock accounts may consider the Guotai Zhongzheng Sub-Sector Chemical Industry Theme ETF Connect C (012731) and Guotai Zhongzheng Sub-Sector Chemical Industry Theme ETF Connect A (012730) [1]

Group 1 - The core viewpoint indicates that after entering Q3 of 2025, prices have rebounded significantly, with average prices in July and August increasing by 3.41% and 12.75% respectively compared to Q2 [1] - The price of POP polyether is also showing signs of stabilization and recovery [1] - In the first half of 2025, China's polyether polyol export volume increased by 19.43% year-on-year, with exports to India and Vietnam growing by 59% and 55% respectively [1] Group 2 - The domestic polyether industry is benefiting from strong overseas demand and competitive advantages, leading to sustained high growth in exports and a potential recovery in industry prosperity [1] - The chemical leader ETF (516220) tracks a sub-sector chemical index (000813), which mainly covers listed companies in the chemical products and raw materials sectors, focusing on companies with strong competitiveness and growth potential [1] - The index serves as an important tool for measuring the market value of the chemical sector and reflects the overall performance and development trends of China's chemical industry [1]

Group 1 - The basic chemical and chemical products industry is experiencing a trend of diversification, with synthetic biology entering a pivotal moment and fossil-based materials facing disruptive challenges [1] - The demand for bio-based materials is expected to surge due to cost reductions and breakthroughs in "non-food" raw materials [1] - Electronic specialty gases, as a core component of the electronics industry, have significant domestic substitution potential driven by the demand from semiconductors, panels, and photovoltaics [1] - The third-generation refrigerants are entering a high prosperity cycle, with a continuous reduction in supply and stable demand growth leading to an expanding supply-demand gap and rising prices [1] - Light hydrocarbon chemicals are becoming a global trend, with raw material lightening driving changes in the olefin industry, aligning with carbon neutrality goals [1] - The industrialization of COC polymers is accelerating, with domestic breakthroughs expected, and optical performance advantages driving applications in consumer electronics and new energy vehicles [1] - The MDI industry is seeing an improved supply structure, characterized by high technical barriers and oligopolistic features, making it a resilient chemical product [1] - Potash fertilizer prices have bottomed out, with international giants reducing production and an increase in grain planting intentions improving supply-demand relationships and driving industry recovery [1] Group 2 - The chemical leader ETF (516220) tracks the sub-sector chemical index (000813), which selects listed companies involved in the manufacturing of chemical products and fibers to reflect the overall performance of representative enterprises in the chemical industry [1] - The index employs a balanced industry distribution strategy aimed at accurately capturing market dynamics and industrial upgrade trends in the chemical field [1]

Market Overview - The A-share market experienced a pullback after an initial rise, with the Shanghai Composite Index up 0.17% to 3615.72 points, while the Shenzhen Component fell by 0.77% and the ChiNext Index dropped by 1.62% [1] - The total trading volume in the Shanghai and Shenzhen markets reached 1.84 trillion yuan, an increase of 41.1 billion yuan compared to the previous trading day [1] - The market sentiment appears weak in the short term, with over 3500 stocks declining [1] Economic Policy Insights - The Central Political Bureau of the Communist Party of China held a meeting to analyze the current economic situation and plan for the second half of the year, emphasizing the need for sustained macroeconomic policies [1] - The meeting highlighted the importance of implementing more proactive fiscal policies and moderately easing monetary policies to enhance policy effectiveness [1] Bond Market Performance - The ten-year government bond ETF (511260) and government bond ETF (511010) showed some degree of increase, indicating a stabilization after several days of decline [2] - The bond market is currently under pressure due to stock market performance, but macroeconomic realities still favor the bond market [3] Industrial Insights - The chemical sector has been under pressure due to weak downstream demand and continuous price declines, with major chemical products experiencing negative year-on-year price changes [7] - The recent fire at Covestro's plant in Germany has disrupted TDI production, which may impact the chemical supply chain [9] Profitability Trends - Industrial profits for large-scale enterprises fell by 1.1% year-on-year in the first five months, marking the fourth consecutive year of negative growth [5] - There is a notable divergence in profitability across sectors, with equipment, non-ferrous metals, and essential consumer goods showing stronger profit growth compared to sectors like real estate and automotive [5]

Group 1 - The chemical sector ETF (516220) rose over 2% during the trading session, indicating positive market sentiment towards the sector [1] - Under the backdrop of energy structure adjustments, fossil-based materials may face disruptive challenges, while low-energy products and industries are expected to have a longer growth window [1] - Traditional chemical companies will compete based on energy consumption and carbon tax costs, with leading firms likely to adopt green energy alternatives and leverage integrated and scaled advantages to reduce energy costs [1] Group 2 - The demand for bio-based materials is anticipated to surge due to decreasing costs and breakthroughs in "non-food" raw materials, leading to a high-growth phase with potential for both profit and valuation increases [1] - The chemical sector may see marginal improvements in performance as inventory cycles approach active destocking, commodity prices stabilize, and downstream orders show signs of recovery [1] - The chemical sector ETF tracks the CSI segmented chemical industry theme index, selecting leading companies with strong governance and competitiveness across various sub-industries, making it suitable for capturing cyclical rebound opportunities [1]