截至2026年1月9日收盘，东方盛虹（000301）报收于10.67元，较上周的10.89元下跌2.02%。本周，东 方盛虹1月6日盘中最高价报11.06元。1月5日盘中最低价报10.48元。东方盛虹当前最新总市值705.42亿 元，在炼化及贸易板块市值排名5/30，在两市A股市值排名267/5182。 机构调研要点 目前公司大部分装置已经按照前期规划建成投产，尚有 EVA、涤纶长丝等少量项目仍处于建设期，除 此外暂时没有其他新的大型项目建设规划。预计未来公司资本开支会呈现逐步下降趋势。公司会根据市 场情况和行业趋势，合理规划和控制资本开支规模。 公司公告汇总 江苏东方盛虹股份有限公司发布2025年第四季度可转换公司债券转股情况公告。盛虹转债代码127030， 转股价格13.21元/股，转股期限为2021年9月27日至2027年3月21日。2025年第四季度，盛虹转债因转股 减少20张，转股数量为150股。截至2025年12月31日，剩余可转债为49,974,584张，剩余金额 4,997,458,400.00元。公司总股本由6,611,230,167股增至6,611,230,317股。控股股东及其一致行动人 ...

2026年01月07日，东方盛虹披露接待调研公告，公司于01月07日接待睿远基金、天风证券、中汇人寿等 19家机构调研。 东方盛虹（000301）最新股价为10.76元，较前一交易日收盘价下跌0.13元，跌幅为1.19%，总市值 711.37亿元。从行业市盈率来看，东方盛虹所处的化学原料行业滚动市盈率平均47.25倍，行业中值 45.25倍。 调研情况显示，东方盛虹是一家全球领先、全产业链垂直整合并已深入布局新能源、新材料产业的能源 化工企业，拥有1600万吨/年盛虹炼化一体化项目、240万吨/年的甲醇制烯烃(MTO)及70万吨/年的丙烷 脱氢(PDH)装置，形成了烯烃、芳烃"双链"并延、协同发展的产业格局，具备独特的"油头""煤头""气 头"多头并举的烯烃制取能力。 公司已确立了从上游石油炼化向下游高附加值精细化工行业"强链、延链、补链"的全新发展战略，形成 了"1"个核心平台+"N"个新能源、新材料、电子化学、生物技术等多元化产业链条协同发展的"1+N"产 业格局，目前拥有PX产能280万吨/年、PTA产能630万吨/年，以及90万吨/年EVA、10万吨/年POE等精 细化工产品。 责任编辑：钟离 展望未 ...

股票代码：000301 股票简称：东方盛虹 江苏东方盛虹股份有限公司 投资者关系活动记录表 编号：2026-001 投资者关系 活动类别 特定对象调研 □电话会议 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 路演活动 现场参观 □其他 参与单位名 称及人员姓 名 天风证券、易方达基金、中欧基金、睿远基金、招商基金、融通基 金、前海开源基金、华宝基金、新华基金、中庚基金、华商基金、 兴银基金、诚旸投资、永赢基金、保银投资、摩根士丹利基金、长 盛基金、中汇人寿、承珞资本等（以上排名不分先后） 时间 2026 年 1 月 7 日 14:00-16:00 地点 公司会议室 上市公司接 待人员姓名 投资者关系总监沈杰先生 一、基本情况介绍 投资者关系 活动主要内 容介绍 江苏东方盛虹股份有限公司（以下简称"公司"）在新能源、 新材料、石油炼化与聚酯化纤领域深耕多年，是一家全球领先、全 产业链垂直整合并已深入布局新能源、新材料产业的能源化工企 业。 公司拥有 1600 万吨/年盛虹炼化一体化项目、240 万吨/年的 甲醇制烯烃（MTO）及 70 万吨/年的丙烷脱氢（PDH）装置，形成了 烯烃、芳烃"双链"并延、 ...

联泓新科（003022.SZ）12月23日在投资者互动平台表示，公司光伏材料主要为EVA和POE，可用于生 产光伏电池封装胶膜，终端产品是否用于太空光伏领域，请咨询下游组件企业。 每经AI快讯，有投资者在投资者互动平台提问：公司光伏材料能应用于太空光伏吗？ （记者 胡玲） ...

证券日报网讯12月18日，卫星化学（002648）在互动平台回答投资者提问时表示，POE下游应用广阔， 在光伏、新能源车、聚合物改性、日用消费等领域均有较好应用前景，目前国内POE主要依赖进口。公 司通过自主研发α-烯烃原料、催化剂及聚合工艺解决国产替代难题，将紧紧围绕以客户为中心为其提供 整体解决方案。 ...

行业探索产品高端化与装置智能化降本的破局之道。 石化行业正深陷"产能过剩、利润承压、转型迫切"的三重困境。今年以来，化工行业整体步入下行通道，据连云港市发改委近日监测的国内16种主要化工品 价格，其综合平均价较年初已下降近14%。 "'内卷式'竞争正在冲击既有市场秩序，导致近三年来'增产增销不增利'。"中国石化联合会副会长傅向升此前表示，石化行业近十年来快速发展，新建炼化 一体化装置接续投产，一些大宗基础产品和通用材料"内卷式"竞争日渐严重。乙烯、苯酚、EVA、PX、PA66等多种石化产品或材料近五年来的产能、产量 累计增幅都在50%以上，有些产品产能远超国内市场消费量。 而同时，建筑、服装等产业消费增速放缓，削弱对大宗化工品的需求，加之全国仍有大量产能200万吨以下的老旧炼油装置在运行，导致石化行业陷入"内 卷"旋涡，产业结构优化与升级改造迫在眉睫。 此一背景下，作为石化龙头企业，中国石化（600028.SH）尝试以旗下茂名石化和中科炼化为实践样本，探索产品高端化与智能化降本的破局之路。 "以前拼原油加工规模，现在拼高端材料话语权。"在中国石化近日召开的上市25周年投资者反向路演活动上，茂名石化总经理杨文德 ...

中证报中证网讯（记者 宋维东）中国证券报记者12月17日从鼎际得（603255）了解到，公司POE高端 新材料项目主装置1号线投产以来，一直保持稳产优产状态。截至目前，累计发货量已突破5000吨。与 此同时，2号线建设已全面进入施工收尾阶段，计划于2026年1月中旬投入运行。届时，鼎际得POE高端 新材料项目双线布局将顺利完成并形成产能合力，为市场供应提供坚实可靠的保障。 当前，我国在高端聚烯烃、工程塑料、功能性膜材料、高性能纤维和电子化学品等诸多领域自给率仍然 较低。随着国内产业升级步伐加快，化工新材料需求将持续增长。 鼎际得POE高端新材料项目主要产品为POE、α-烯烃等，广泛应用于电子、汽车、医疗、新能源等领 域。这一项目不仅对国内该领域发展具有重大意义，还将推动鼎际得向下游延伸高端石化产业链，对带 动相关产业技术进步、加快石化产业转型具有重要意义。 该项目自2024年3月动工，于今年6月实现中试装置投产，今年10月主装置1号线一次投料成功。目前， 主装置1号线运行平稳，已成为稳定输出高品质产品的核心力量，有力驱动国产高端聚烯烃弹性体实现 跨越式发展。待项目主装置2号线明年1月中旬投运后，鼎际得在新材料 ...

Group 1: Market Development and Product Launch - The company is currently in the market development phase for carbon capture fiber products, with ongoing construction of a new materials pilot base [1] - The 100,000 tons/year POE facility has been completed and is currently supplying samples to downstream photovoltaic industry clients, with smooth progress reported [3] Group 2: Financial Performance and Risk Management - The company has diversified its raw material sources through "oil, coal, gas" strategies, enhancing cost control and risk management against cyclical fluctuations [2] - The company emphasizes shareholder returns through dividends and buybacks, with ongoing monitoring of the controlling shareholder's increase in holdings [2] Group 3: Technological Advancements and AI Integration - Significant achievements in digital transformation have been noted, with the establishment of an AI division aimed at deeply integrating AI into core business operations [2] - The company has been recognized for its advanced intelligent factories, contributing to a new paradigm in manufacturing transformation [2] Group 4: Future Capital Expenditure and Project Planning - Future capital expenditures are expected to gradually decline, with no new large-scale projects planned beyond current new materials projects [2] - The company is focusing on building a diversified industrial chain around new energy materials and high-performance materials [3]

Summary of Conference Call on Chemical Industry Investment Opportunities Industry Overview - The chemical industry is currently experiencing historically low gross margins per ton due to rapid domestic capacity expansion leading to oversupply, while demand has not significantly decreased, indicating potential improvement in supply-demand dynamics in the future [1][2][3] - Companies are proactively reducing capital expenditures, with expectations of continued negative growth in capital expenditures for chemical listed companies from 2024 to 2026 [1][2] Supply and Demand Dynamics - Both domestic and international supply sides are showing signs of contraction. Domestically, companies are reducing capital expenditures due to poor profitability, while internationally, the Russia-Ukraine conflict has increased energy costs in Europe and led to operational difficulties for global chemical leaders, accelerating the shutdown of production lines [1][3] - The demand side is expected to recover, with the U.S. entering a rate-cutting cycle, followed by China and the UK, which may lead to a resonance in demand between China and the U.S. [1][3] Emerging Opportunities - New industries such as renewable energy, energy storage, photovoltaics, and AI are expected to drive incremental demand for chemical products, with the industry projected to enter an upward cycle from 2026 to 2027 [1][3] - Recommended sectors include: - **Bottom Elastic Products**: Organic silicon and industrial silicon benefiting from high energy consumption characteristics and energy-saving trends (e.g., Hengsheng Silicon, Xin'an Chemical, Xingfa Group) [1][4] - **Soda Ash**: Benefiting from anti-dumping policies despite expansion (e.g., Boyuan Chemical) [1][4] - **PTA and Polyester Filament**: Stable growth in end-user demand (e.g., Tongkun, Xinfengming) [1][4] Investment Recommendations - Focus on quality stocks with bottom valuations and potential volume growth, such as Wanhua Chemical, Hualu Hengsheng, Longbai Group, and Huahong New Materials [2][4][7] - Growth companies in tires and new materials are also worth attention, such as Sailun Tire, Xin Nuobang, and Shengquan Group, which benefit from AI, new energy development, and domestic substitution [5] Strategic Outlook for 2026 - The strategy for the petrochemical industry in 2026 will adopt a top-down framework due to prolonged low margins (10%-20%) and the completion of capital expenditures in 2023 and 2024 [6][7] - Anticipation of three rate cuts by the Federal Reserve in 2026, reducing rates to around 3%, is expected to support a soft landing for the global economy [6] Key Focus Areas in Petrochemical Sector - The PTA sector is highlighted as a key area of focus, with optimism regarding market corrections and support from national policies [7][8] - Attention should also be given to cyclical sectors, including private refining companies like Satellite Chemical, Baofeng Energy, and Hengli Petrochemical, which are expected to experience reversals [8] Additional Investment Opportunities - Other notable investment opportunities include the POE market and Xinjiang coal chemical stocks, which are expected to perform well due to stable operations and significant profit margin potential [11] - Companies like Aerospace Engineering and 3D Chemical are highlighted for their safety margins and potential valuation recovery due to supportive policies [11]

Core Viewpoint - The A-share market is at a critical point of style rebalancing by the end of 2025, with the ongoing "anti-involution" policy reshaping investment logic in cyclical industries [1][4] Group 1: Market Dynamics - Since Q3 2025, the A-share market has shown a significant "technology + cyclical" dual-driven pattern, indicating a transition from a single growth line to a balanced allocation of "growth + value" [1] - The technology sector has experienced a substantial cumulative increase, with the electronics industry rising by 45% and the communication equipment sector by over 38%, significantly outperforming the CSI 300 index's 14.7% [4] - The concentration of institutional holdings in the technology sector has reached nearly historical peaks, with TMT sector holdings exceeding 40.16%, indicating a risk of overcrowding [4] Group 2: Policy Impact - The Ministry of Industry and Information Technology has proposed three major measures for the chemical industry in 2026, signaling a shift from mere advocacy to substantial implementation of the "anti-involution" policy [4] - The "anti-involution" policy has extended to industry self-discipline, with products like long silk, PTA, and urea achieving industry collaboration through "production limits to maintain prices + price alliances + punitive agreements" [10] Group 3: Chemical Industry Insights - The chemical industry is experiencing a supply-side improvement driven by "downward capacity cycles + policy-guided elimination," with fixed asset investments in the chemical raw materials and products manufacturing sector decreasing by 5.6% year-on-year from January to September 2025 [5][6] - The demand side is supported by both domestic recovery and overseas improvement, with textile and apparel exports increasing by 8.7% year-on-year from January to October 2025 [12] Group 4: Investment Opportunities - Investment opportunities in the chemical industry under the "anti-involution" wave include selecting leading companies with strong management systems and cost advantages [14] - Specific sectors to focus on include: 1. Petrochemicals: Expected to see a turning point due to supply contraction and demand upgrades [15] 2. Coal chemicals: Benefiting from policy catalysts and cost advantages, with potential for profit recovery [16] 3. Polyester filament and PTA: Leading sectors in the implementation of the "anti-involution" policy, currently entering an inventory digestion phase [17]