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中國銀河證券:看好今年化工品結構性機會及行業估值修復空間
中國銀河證券研報指出,當前時點基礎化工行業估值處在2014年以來偏低水平,具有中長期配置價值。供給端方面,近幾年化工行業資本開支及在建產能增速趨於放緩,但預計存量產能及在建產能仍需時間消化。需求端方面,2025年隨政策刺激效果逐漸顯現、終端產業回暖動能逐步轉強,內需潛力有望充分釋放。看好2025年化工品的結構性機會及行業估值修復空間,建議關注以下三條投資主線:一是,全方位擴大內需,把握成長確定性機會;二是,培育新質生產力,新材料正當時;三是,部分資源品景氣有望維持高位,關注規模擴張帶來的成長性。
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