专家分享：石化化工各行业稳增长工作方案解读 摘要 新方案强调石化行业年均工业增加值增长 5%以上，并关注科技创新、 精细化延伸、数字赋能、本质安全和减污降碳，旨在提升行业附加值和 竞争力。 政策严控新增炼油产能，合理规划对二甲苯产能，防范煤制甲醇过剩风 险，并严格执行炼油项目产能减量置换，推动老旧装置改造，以优化产 业结构。 石化化工行业数字化转型需制定实施指南，开展成熟度评估和技术改造， 推动人工智能与石化结合，加大节能减排改造力度，并建设数字化能碳 管理中心。 未来两年节能降碳重点包括老旧装置更新改造，加强绿电、绿氢与石油 及煤炭耦合相关标准预研，并推进重点产品碳足迹规则核算标准制定。 化工园区发展需进行竞争力评价和分级评价，加快对标改造，提升高质 量发展水平，提高行业集中度，并培育壮大先进制造集群和龙头企业。 金融监管部门通过完善产品预警机制和信贷政策，引导信贷资金支持产 业布局和产能调控，并鼓励转型金融支持传统产业绿色低碳转型。 政策对存量产能退出采取"改造为主，退出为辅"的策略，通过数字化、 绿色化改造提升效率和质量，并淘汰能耗、排放或安全不达标的企业。 Q&A 请介绍一下最新发布的石化化工行业稳增 ...

融券方面，华软科技9月30日融券偿还500.00股，融券卖出9400.00股，按当日收盘价计算，卖出金额 6.70万元；融券余量6.49万股，融券余额46.27万元，超过近一年70%分位水平，处于较高位。 资料显示，金陵华软科技股份有限公司位于北京市海淀区东升科技园北街2号院1号楼7层，成立日期 1999年1月13日，上市日期2010年7月20日，公司主营业务涉及计算机软硬件生产、销售。主营业务收入 构成为：AKD系列造纸化学品51.95%，医药、农药中间体17.24%，荧光增白剂16.65%，电子化学品 9.30%，其他4.87%。 9月30日，华软科技跌9.75%，成交额11.85亿元。两融数据显示，当日华软科技获融资买入额9172.27万 元，融资偿还6413.64万元，融资净买入2758.62万元。截至9月30日，华软科技融资融券余额合计2.92亿 元。 截至6月30日，华软科技股东户数4.46万，较上期增加10.26%；人均流通股13743股，较上期减少 9.03%。2025年1月-6月，华软科技实现营业收入1.71亿元，同比减少31.63%；归母净利润-9158.95万 元，同比减少53.21%。 ...

具体来看，比如高端聚烯烃、工程塑料、高性能纤维、功能性膜材料和电子化学品，自给率只有 65%-80%，依然得大量依赖进口。利润表现上也差距明显：通用塑料这几年才勉强盈亏平衡，通用工程 塑料利润还在下滑，而特种工程塑料却始终保持高利润，堪称"材料界的隐形冠军"。 （来源：WELINK化工） 谁说塑料没市场了？官方数据显示新材料市场可是个1.3万亿的"大块头"，近十年还以超过10%的速度在 狂奔。 而且最重要的是里头还真有不少"卡脖子"的材料缺口——整体自给率连60%都不到！这不机会不就来了 么！ 目前全球市场主要被Syensqo、巴斯夫、塞拉尼斯、东丽等国际巨头主导，国内布局较广的只有金发科 技和沃特科技，新和成、德众泰等在个别产品上领先，但整体产品线和稳定性仍有差距。 但随着国家重点发展的9大战略性新兴产业和6大未来产业的快速崛起，人形机器人、量子计算、6G设 备、脑机接口等创新产品都离不开这些高性能材料。预计"十五五"期间，消费量年均增速仍将保持在 10%以上。 预计到2027年，市场规模将冲到1.8万亿元。 但如果想抓住这次机遇，挑战依然不小：研发创新、核心技术、人才短缺、工艺协同、国际竞争、资金 风险… ...

Core Viewpoint - The petrochemical industry in China is set to experience an average annual growth of over 5% in value added from 2025 to 2026, as outlined in the recently released "Petrochemical Industry Stabilization Growth Work Plan (2025-2026)" by multiple government departments [2][3]. Group 1: Industry Challenges and Responses - The petrochemical industry faces intensified competition in the basic organic raw materials market, slowing domestic demand growth, and increased external uncertainties [3]. - The plan emphasizes strict control over new refining capacity and aims to manage the pace of new capacity for ethylene and paraxylene, while supporting the renovation of outdated facilities and the "reduce oil and increase chemicals" initiative [3][4]. Group 2: Focus on High-End Supply - There is a notable shortage in high-end chemical new materials and fine chemicals, necessitating improvements in the supply of key products and raw materials [4][5]. - The plan identifies electronic chemicals, high-end polyolefins, and specialty rubbers as key areas for technological innovation and effective supply enhancement [5]. Group 3: Emerging Market Opportunities - The demand for materials in emerging fields is robust, with applications in sectors such as electric vehicle battery materials, carbon fiber composites, and specialty engineering plastics [5][6]. - PEEK, a high-performance polymer, is highlighted for its potential to replace metals in various applications, including humanoid robots, due to its superior strength-to-weight ratio and durability [6]. Group 4: Industry Structural Optimization - Recent high-level meetings have focused on preventing "involution" or excessive competition within the industry, leading to a more optimized supply-demand structure [7][8]. - The chemical industry is witnessing a shift from a focus on expansion to optimizing existing capacities and pursuing high-quality growth, which is expected to create better investment opportunities [9].

（文章来源：每日经济新闻） 华泰证券指出，工业和信息化部等7部门印发的《石化化工行业稳增长工作方案（2025—2026年）》将 增强高端化供给，加快数字化绿色化转型，政策引导下化工新材料和新兴技术有望加快发展。高端化工 材料方面，鼓励发展集成电路、新能源、医疗设备、低空经济、人形机器人等领域新兴材料，电子化学 品、特种工程塑料、特种橡胶、高性能膜材料、碳纤维材料等产品创新和国产替代进程有望提速。此 外，新兴技术如二氧化碳捕集、绿氨/绿醇应用、生物化工、海水提钾等有望加快培育，政策引导下国 内相关产业或形成先发优势。 新材料50ETF（159761）跟踪的是新材料指数（H30597），该指数从市场中选取涉及先进基础材料、关 键战略材料以及前沿新材料等领域的代表性企业证券作为指数样本，以反映新材料行业相关上市公司证 券的整体表现。该指数聚焦于新材料产业的发展趋势，具有显著的成长性和创新性特征。 ...

"方案"要求优化重点化肥生产企业最低生产计划管理，支持煤炭、磷矿石、天然气、硫磺、冶炼副产硫 酸等重点原料供应企业与化肥生产企业签订长协，确保原料供应稳定。受炼厂产出下降、地缘冲突等影 响，2025年初以来部分肥料上游原料（尤其磷肥原料硫磺、硫酸等）价格涨幅显著，原料采购长协签订 和供应量的稳定有望助力肥料企业实现稳产保供。"方案"亦要求完善化肥产运储销贸一体化调控体系， 推动缓／控释肥、水溶肥、液体肥、中微量元素肥等发展。整体而言，具备上下游一体化配套优势的头 部企业竞争力有望凸显。 编辑：吴郑思 新华财经北京9月30日电 华泰证券最新研报指出，9月26日，工信部等7部门印发《石化化工行业稳增长 工作方案（2025—2026年）》的通知（简称"方案"），明确增强高端化供给、科学调控重大项目建设、 做好化肥生产保供等工作举措。"方案"对炼油、乙烯、PX、煤制甲醇和现代煤化工等多个细分领域明 确新增产能调控等要求，将助力供给优化，考虑2025年上半年以来化学原料及制品行业资本开支增速下 行拐点已现，叠加"反内卷"等助力，行业景气有望修复；同时，增强高端化供给引导下，电子／新能源 ／医疗装备等领域高端化工材料，生 ...

Company Overview - Suzhou Shiming Technology Co., Ltd. was established on December 11, 2001, and went public on July 5, 2016. The company is located at 219 Huangpujiang North Road, Zhou City Town, Kunshan, Jiangsu Province [2] - The main business involves the research, production, and sales of nano coloring materials, functional nano dispersions, special additives, electronic chemicals, and intelligent color adjustment systems [2] - The revenue composition is as follows: coloring agents 79.97%, special additives 15.63%, others 3.80%, and resins 0.60% [2] Stock Performance - As of September 29, the stock price increased by 2.05% to 12.92 CNY per share, with a total market capitalization of 4.166 billion CNY [1] - Year-to-date, the stock price has risen by 4.62%, but it has seen declines of 0.08% over the last 5 trading days, 4.93% over the last 20 days, and 4.01% over the last 60 days [2] Financial Performance - For the period from January to June 2025, the company achieved operating revenue of 359 million CNY, representing a year-on-year growth of 1.33%. However, the net profit attributable to shareholders decreased by 44.92% to 15.1996 million CNY [2] - The company has distributed a total of 222 million CNY in dividends since its A-share listing, with 56.0347 million CNY distributed over the past three years [3] Market Activity - As of September 10, the number of shareholders was 19,900, an increase of 0.29% from the previous period, with an average of 13,197 circulating shares per person, a decrease of 0.29% [2] - In terms of capital flow, there was a net inflow of 738,500 CNY from major funds, with significant buying activity from large orders [1]

先看最重磅的央行例会，这可是定调子的事。三季度例会明确说了要"保持流动性充裕""推动社会综合融资成本下降"，还特别提了要用好股票回购增持再贷 款，探索常态化安排来维护资本市场稳定。跟二季度比，这次删了"加力实施增量政策"，反而强调"落实存量政策""释放政策效应"。说白了，就是政策不会 急转弯，而是稳稳托着市场，给咱们这些中长线投资者吃了颗定心丸——不用怕突然的政策波动，重点看长期的稳预期。 最后说下接下来要盯的事儿，9月30号的PMI特别关键，8月是49.4，要是能回到扩张区间，那经济回暖的信号就更明确了。外围还得看美国，政府会不会关 门、非农数据怎么样，这些会影响全球资金流向，但咱中长线不用天天盯着，知道有这么个事就行。至于本周400多亿的限售股解禁，也别一看到解禁就 慌，像宁波港这种大盘股，解禁对整体走势影响有限，重点看个股的估值和基本面。 紧接着8月的工业企业利润数据也来了，单月增长20.4%，累计利润也由负转正了。可能有人觉得这数太亮眼，是不是有水分？咱客观说，确实有去年低基 数的因素，但更重要的是结构在变好。装备制造业还是"压舱石"，原材料行业利润涨得快，连消费品制造业都由降转增了，而且大中小企业利 ...

Investment Rating - The report indicates a positive outlook for the chemical and petrochemical industry, with an emphasis on stable growth and structural optimization [4][7]. Core Insights - The Ministry of Industry and Information Technology, along with six other departments, issued a notice regarding the "Stabilization and Growth Work Plan for the Petrochemical and Chemical Industry (2025-2026)" aimed at promoting stable operation and structural optimization in the industry [4][7]. - The main goals for 2025 include an average annual growth of over 5% in the added value of the petrochemical and chemical industry, stabilization of economic benefits, significant enhancement of technological innovation capabilities, and continuous improvement in quality development [9]. - The plan emphasizes the importance of technological innovation, pollution reduction, and high-quality development, with an upward adjustment in growth expectations compared to previous plans [9]. Supply Side Summary - The report outlines measures to enhance high-end supply, effectively constrain traditional new projects, and optimize the structure of existing capacity [9]. - Key initiatives include supporting the development of critical products in electronic chemicals, high-end polyolefins, and special rubber, while preventing irrational capacity expansion in traditional sectors [9]. - The report also highlights the need for a comprehensive upgrade of outdated facilities and the implementation of a standard system for evaluating and transforming these facilities [9]. Demand Side Summary - The report suggests exploring new application scenarios and expanding international cooperation to stimulate market demand [9]. - It emphasizes the importance of developing materials for new energy, low-altitude economy, and humanoid robots, as well as promoting the application of green ammonia and green alcohol in marine fuel markets [9]. - The report advocates for deeper participation in high-quality Belt and Road initiatives and the development of overseas resources [9]. Industry Outlook - The report concludes that the petrochemical and chemical industry is expected to gradually improve, with a more orderly new supply and more efficient existing supply [9]. - It recommends focusing on sub-industries that are at the bottom of the economic cycle, such as organic silicon, polyester filament, glyphosate, and industrial silicon [9]. - Additionally, it suggests paying attention to industries that are at very low levels or undergoing clearance, such as soda ash, and highlights leading companies in the refrigerant industry and major players in the refining and coal chemical sectors [9].

继多个行业稳增长方案出台后，石化化工行业纲领文件终于落地。 9月26日，工业和信息化部等7部门联合发布《石化化工行业稳增长工作方案（2025－2026年）》（以下 简称《工作方案》）。《工作方案》提出，2025—2026年，石化化工行业增加值年均增长5%以上。 《工作方案》锚定清晰系列目标：严格控制新增炼油等产能；支持电子化学品、高端聚烯烃等关键产品 攻关；培育新能源、低空经济等新兴领域应用场景；加强精细化工、绿色低碳、人工智能等领域交流合 作。 "严控新增产能投放节奏，是避免行业陷入大幅过剩、产品价格快速恶化的关键。对于已经过剩的行 业，更需通过老旧装置改造、控产能、环保整改等组合措施，优化产品供需格局。"东吴证券研究所能 源化工行业首席分析师陈淑娴对上海证券报记者表示。 严控新增炼油产能 优化高端精细化学品供给 多年来，我国连续位居世界第二石化大国、第一化工大国。当前，石化化工行业仍面临基础有机原料市 场竞争加剧、高端精细化学品供给不足、国内需求增速放缓、外部不确定性增加等挑战，行业转型升级 压力凸显。针对这一供需现状，《工作方案》从"控增量、补短板"两方面提出具体举措。 在产能调控上，文件明确要求严控新 ...