as of 13:18 on may 6, 2024, the China securities sub-division chemical industry theme index (000813) rose 3.62 percent, with constituent stocks tongkun (601233) and xinfengming (603225) trading limit, kaisai biology (688065) rising 7.12 percent, salt lake shares (000792), yuanxing energy (000683) and other stocks following the rise. Chemical ETF(159870) rose 3.27 percent, with intraday turnover reaching 81.3544 million yuan and a turnover rate of 4.67 percent.

It is worth noting that the valuation of the CSI Subdivision Chemical Industry Theme Index tracked by the fund is at a historical low. The latest price-to-book ratio PB is 2.14 times, which is lower than the index's more than 87.91 in the past 3 years. The valuation is cost-effective. outstanding.

chemical ETF closely tracks the theme index of China securities subdivision chemical industry. the theme index series of China securities subdivision industry consists of 7 indexes such as subdivision nonferrous metals and subdivision machinery. the securities of listed companies with large scale and good liquidity are selected as index samples from relevant subdivision industries respectively to reflect the overall performance of securities of listed companies in relevant subdivision industries.

Data show that as of April 30, 2024, the top ten heavyweights in the China Securities Subdivision Chemical Industry Theme Index (000813) are Wanhua Chemical (600309), Salt Lake Stock (000792), Hualu Hengsheng (600426), Baofeng Energy (600989), Longbai Group (002601), Rongsheng Petrochemical (002493), Hengli Petrochemical (600346), Satellite Chemical (002648), Juhua Stock (600160) and Dongfang Shenghong (000301), the top ten weighted stocks together accounted for 49.8 per cent.

On the policy side, in April 2024, a number of policies were introduced to continue to promote the reduction of production energy consumption. In April 2024, the Ministry of Industry and Information Technology identified 2899 enterprises with national industrial energy conservation supervision tasks. Among them, there are 2411 special inspections on the energy efficiency of key industries such as petrochemical and chemical industry, steel, building materials, non-ferrous metals, papermaking, textiles, and key energy-using equipment; the high-level meeting stated that it is necessary to solidly promote green and low-carbon development. Conscientiously implement the action plan for continuous improvement of air quality, strengthen the clean and efficient use of coal and the consumption and utilization of renewable energy, and continue to vigorously carry out the "Top Ten Actions for Carbon Peak"; The State Council stated in the 2023 report on the environmental status and the completion of environmental protection targets that the main targets for the ecological environment in 2024 were set in accordance with the principle of seeking progress while maintaining stability, and carbon dioxide emissions per unit of GDP were reduced by about 3.9. In the future, with the tightening of environmental protection and energy consumption policies, the backward equipment and production capacity of the relevant small and medium-sized enterprises facing financial pressure may usher in a gradual liquidation, a new round of supply-side reform in the chemical industry is also expected to open.

Looking ahead, Guosheng Securities said that at present, the chemical expansion sentiment has significantly ebb, sector profitability or has bottomed out. The current cycle may be benchmarked 2012 to 2014-again against a backdrop of low demand growth, with supply still accelerating and not yet turning around. Construction in progress to fixed assets there is about a year and a half of the conduction cycle, waiting for the growth rate of fixed assets into the downward channel (indicating that the release of production capacity has entered the end), the chemical sector earnings are expected to usher in a new round of expected upward, the chemical sector dawn is coming.

chemical ETF(159870), over-the-counter connection (class a: 014942; Class C: 014943).