中国证券报记者2月12日获悉，近日，国家税务总局浙江省税务局发布五家先进制造业企业税务合规典 型案例，为广大经营主体提供参考。桐昆股份、王力安防、华峰化学、水晶光电、三花智控等上市公司 入选。 同时，国家税务总局广东省税务局发布首批电子信息行业税务合规典型案例，涉及方邦股份、德赛西 威、奥海科技、三环集团等上市公司；国家税务总局吉林省税务局发布五家冰雪行业企业税务合规典型 案例，涉及长白山等上市公司。案例为同行业经营者提供可参考的范本，引导更多经营主体增强依法纳 税意识。 优化部门设置制定相关制度 案例展示的多家公司均连续多年获评纳税信用A级。具体看，这些企业采用了设置专门部门、运用技术 赋能系统建设等方式，查堵风险，构建合规闭环。 桐昆股份在产业链持续延伸过程中，为防范跨区域、多主体带来的税务合规风险，于2018年将税务管理 职能提级，单独设置集团一级职能部门"税务管理部"，统筹指导全集团涉税事务，制定《税务风险管理 制度》《发票及税金管理制度》等内部合规指引，为集团投资并购、业务模式设计、关联交易定价等重 大决策提供税务合规保障，并将纳税信用纳入内部考评，目前旗下15家企业稳定保持纳税信用A级。 2023 ...

经济观察网华峰化学（002064）2026年将面临股东减持、重大资产注入承诺履行及多个产能扩建项目推 进等关键事件。 股价异动原因 公司四位股东尤金焕、陈林真、尤小玲、尤小燕计划自2026年3月3日至2026年6月2日期间，通过集中竞 价或大宗交易方式合计减持不超过3619.01万股，占公司总股本的0.73%。 以上内容基于公开资料整理，不构成投资建议。 产能扩充 公司氨纶募投项目剩余的7.5万吨产能计划在2026年底前逐步投产。届时，公司远期产能将达到47.5万 吨。公司董事会已于2026年1月30日审议通过议案，计划投资36亿元建设年产20万吨高性能低碳化数智 化氨纶新材料扩建项目。 公司项目推进 公司PTMEG项目的第一期建设预计在2026年年底前完成。 股票近期走势 近期市场表现方面，华峰化学股价在2026年2月2日出现跌停，市场分析认为可能与行业周期波动、公司 扩建项目的资金压力以及机构资金流向等因素有关。 公司项目推进 公司预计将在2026年12月前完成相关标的资产的注入工作，此举旨在履行承诺并进一步整合资源。 ...

Group 1 - Huafeng Chemical (002064) is a global leader in the spandex industry, with strong technical advantages in differentiated spandex and early investments in bio-based and recycled spandex, benefiting from the growing demand for green fibers [2][34] - Tongkun Co., Ltd. (601233) is a domestic leader in the polyester filament industry, with strong technical and capacity advantages in differentiated and high-end products, and is expected to benefit from the recovery of downstream textile demand and policies promoting recycled fibers [3][35] - New Fengming (603225) is a core player in the polyester filament industry, with a strong position in differentiated and high-end products, and is well-positioned to benefit from the recovery of textile demand and the promotion of recycled fibers [4][36] Group 2 - Shuangxin Environmental Protection (001369) is a core enterprise in the PVA industry, with strong technical and capacity advantages, and is expanding into biodegradable and bio-based materials, expected to benefit from the growing demand for biodegradable materials [5][38] - Tianfulong (603406) is a core player in the polyester industrial yarn industry, with strong technical advantages and is expanding into high-performance and recycled industrial yarns, expected to benefit from the growth in automotive and industrial fabric demand [6][39] - Wanwei High-tech (600063) is a leading company in the PVA industry, with strong technical advantages and is expanding into biodegradable materials, expected to benefit from the growing demand for biodegradable materials [7][40] Group 3 - Xinxiang Chemical Fiber (000949) is a core enterprise in the viscose staple fiber industry, with strong technical advantages and is expanding into recycled viscose and bio-based viscose, expected to benefit from the recovery of textile demand [8][41] - Taihe New Materials (002254) is a leader in the aramid industry, with strong technical advantages and is expanding into high-performance and bio-based aramid, expected to benefit from the growth in high-end fields [9][42] - Jilin Chemical Fiber (000420) is a core player in the viscose staple fiber industry, with strong technical advantages and is expanding into high-performance carbon fiber, expected to benefit from the growth in aerospace and new energy sectors [10][44] Group 4 - Sanfangxiang (600370) is a core enterprise in the PTA industry, with strong technical advantages and is expanding into recycled PTA and bio-based PTA, expected to benefit from the recovery of textile demand [11][45] - Shenma Co., Ltd. (600810) is a leader in the nylon 66 industry, with strong technical advantages and is expanding into high-performance and recycled nylon, expected to benefit from the growth in automotive and industrial fabric demand [12][46] - Hailide (002206) is a leader in the polyester industrial yarn industry, with strong technical advantages and is expanding into high-performance and recycled industrial yarns, expected to benefit from the growth in automotive and industrial fabric demand [13][47] Group 5 - Youfu Co., Ltd. (002427) is a core player in the polyester industrial yarn industry, with strong technical advantages and is expanding into high-performance and recycled industrial yarns, expected to benefit from the growth in automotive and industrial fabric demand [14][48] - Huaxi Co., Ltd. (000936) is a core enterprise in the polyester staple fiber industry, with strong technical advantages and is expanding into recycled and bio-based polyester, expected to benefit from the recovery of textile demand [15][49] - Baolidi (300905) is a leader in the chemical fiber color masterbatch industry, with strong technical advantages and is expanding into biodegradable color masterbatches, expected to benefit from the green transformation of the chemical fiber industry [16][51] Group 6 - Nanjing Chemical Fiber (600889) is a core player in the viscose staple fiber industry, with strong technical advantages and is expanding into recycled viscose and bio-based viscose, expected to benefit from the recovery of textile demand [17][52] - Haiyang Technology (603382) is a core enterprise in the polyester industrial yarn industry, with strong technical advantages and is expanding into high-performance and recycled industrial yarns, expected to benefit from the growth in automotive and industrial fabric demand [18][53]

[Table_StockNam基eRp础tTyp化e] 工 行业周报 合成生物学周报：工信部公布 35 例非粮生物基材料，阿洛酮糖 应用有望迎来爆发 报告日期： 2026-02-10 公司价格与沪深 300 走势比较 相关报告 2026-02-02 执业证书号：S0010522110002 电话：13621792701 邮箱：wangqf@hazq.com 分析师：潘宁馨 执业证书号：S0010524070002 电话：13816562460 邮箱：pannx@hazq.com 行业评级： 增持 主要观点： [T行ab业le_周Su观m点mary] 华安证券化工团队发表的《合成生物学周报》是一份面向一级市 场、二级市场，汇总国内外合成生物学相关领域企业信息的行业周报。 目前生命科学基础前沿研究持续活跃，生物技术革命浪潮席卷全 球并加速融入经济社会发展，为人类应对生命健康、气候变化、资源 能源安全、粮食安全等重大挑战提供了崭新的解决方案。国家发改委 印发《"十四五"生物经济发展规划》,生物经济万亿赛道呼之欲出。 分析师：王强峰 合成生物学指数是华安证券研究所根据上市公司公告等汇总整 理由 60 家业务涉及合成生 ...

Group 1 - The chemical sector continues to rebound, with the Chemical ETF (516020) opening high and experiencing a maximum intraday increase of 1.79%, closing with a gain of 1.48% [1][7] - Key stocks in the sector include Zhejiang Longsheng, which surged by 9.5%, and Tongcheng New Materials, which rose by 4.86%, along with several others exceeding 3% gains [1][7] - The Chemical ETF tracks a specialized index that includes popular stocks in sectors like new energy, which are expected to benefit significantly from the ongoing growth in electric vehicle sales [9][10] Group 2 - According to Zhongyuan Securities, the ongoing anti-involution policies are expected to strengthen supply-side constraints in the industry, benefiting certain sub-sectors such as chlor-alkali, pesticides, and polyester filament [10] - Guohai Securities notes that the anti-involution measures may lead to a revaluation of the Chinese chemical industry, with potential for increased cash flow and dividend yields as capacity expansion slows [10] - The Chemical ETF (516020) is suggested as an efficient way to capitalize on the rebound in the chemical sector, covering themes like AI computing power and new energy [10][11] Group 3 - Recent data from the Ministry of Commerce indicates that as of February 5, 2026, there were 335,000 applications for the vehicle trade-in subsidy, driving new car sales to 53.77 billion yuan, which supports market development and resource recycling [8][9] - The average price of new cars participating in the trade-in program exceeded 160,000 yuan, showing a significant increase compared to the previous year, while the number of scrapped vehicles reached 659,000, a year-on-year increase of 50.2% [8][9]

Investment Rating - The report rates the industry as "Outperform" [8] Core Insights - The domestic spandex consumption is expected to reach 1.088 million tons by 2025, with a significant year-on-year growth of 7.55%, and a compound annual growth rate (CAGR) of 13.68% from 2022 to 2025 [1][30] - The spandex industry is currently experiencing a price and margin bottoming out, with prices as of January 23, 2026, at 23,000 yuan per ton, marking a historical low since 2010 [1][7] - The demand for spandex is driven by the growth of high spandex content apparel, particularly in sportswear and underwear, as consumer preferences shift towards comfort and quality [30][68] Summary by Sections 1. Spandex Product Overview - Spandex, known as polyurethane fiber, is characterized by its exceptional elasticity, capable of stretching 400%-800% and maintaining a recovery rate of over 95% even after being stretched five times [2][14] - The production process is dominated by dry spinning technology, which accounts for over 80% of the total production [19][25] 2. Supply and Demand Balance - The spandex production capacity in China is projected to reach 1.498 million tons by the end of 2025, with a significant concentration of production in the western regions due to energy cost advantages [30][49] - The demand for spandex is expected to grow steadily, driven by the increasing proportion of spandex in high-content apparel, particularly in sportswear and underwear [30][56] 3. Price and Cost Analysis - Current spandex prices and margins are at historical lows, with expectations for recovery as supply expansion approaches its end and demand continues to grow [7][28] - The main raw material costs account for over 40% of production costs, impacting overall profitability [21][30] 4. Related Companies - Key players in the spandex industry include Huafeng Chemical, Xinxiang Chemical Fiber, and Taihe New Materials, with significant market shares and production capacities [44][51]

【市场复盘】 截至2026年2月6日 15：00，中证石化产业指数（H11057）强势上涨2.00%，成分股浙江龙盛上涨 6.18%，恒逸石化上涨5.01%，荣盛石化上涨4.93%，华峰化学，巨化股份等个股跟涨。石化ETF （159731）上涨1.82%，最新价报1.0元。流动性方面，石化ETF盘中换手10.86%；资金流入方面，石化 ETF近20个交易日内合计"吸金"14.47亿元。 【热点要闻】 以上内容与数据，与有连云立场无关，不构成投资建议。据此操作，风险自担。 3. 截至2月6日当周，全球炼油厂停产总量约为540万桶/日，较前一周下降约88万桶/日。下降主要受亚 洲地区重启活动推动，中国及东亚整体表现突出，同时美国也持续从近期风暴导致的停工中恢复。中东 地区维护活动持续增加，部分抵消了上述降幅。展望未来，全球炼油停产总量预计将在下周小幅降至略 高于500万桶/日，具体走势很大程度上取决于丹格特炼油厂原油装置的复工时间，该厂仍是非洲地区最 关键的不确定因素。 4. 市场聚焦伊朗局势。伊朗方面，计划继续谈判，Polymarket显示美国打击伊朗概率显著下降，伊朗石 油供应以及霍尔木兹海峡均未受到影响。俄 ...

行 业 及 产 业 基础化工 行 业 研 究 / 行 业 点 评 相关研究 证 券 研 究 报 告 证券分析师 马昕晔 A0230511090002 maxy@swsresearch.com 宋涛 A0230516070001 songtao@swsresearch.com 研究支持 任杰 A0230522070003 renjie@swsresearch.com 邵靖宇 A0230524080001 shaojy@swsresearch.com 周超 A0230525090001 zhouchao@swsresearch.com 李绍程 A0230525070002 lisc@swsresearch.com 赵文琪 A0230523060003 zhaowq@swsresearch.com - 联系人 马昕晔 A0230511090002 maxy@swsresearch.com 2026 年 02 月 07 日 Q4 成本抬升叠加减值影响，化工盈利 阶段性承压，春旺或开启新一轮周期 看好 ——基础化工 2025 年报业绩前瞻 本期投资提示： 请务必仔细阅读正文之后的各项信息披露与声明 本研究报告仅通过邮件 ...

Group 1 - The chemical sector is showing strong performance, with the Chemical ETF (516020) experiencing a price increase of 3.13% as of the report time [1][2] - Key stocks in the sector, including Enjie Co., Ltd., Hongda Co., and Duofuduo, have seen significant gains, with Enjie Co. reaching the daily limit up and others rising over 8% [1][2] - The basic chemical sector has attracted substantial capital inflow, with nearly 20 billion yuan in net inflow, leading among 30 major sectors [1][3] Group 2 - Prices for mainstream refrigerants have continued to rise, with R32 long-term contract prices at 61,200 yuan per ton, up 1,000 yuan from the previous quarter, marking a 1.66% increase [3] - The outlook for the industry suggests that regulatory measures and self-discipline initiatives will strengthen supply constraints, benefiting certain sub-sectors like chlor-alkali and pesticides [3] Group 3 - The Chemical ETF (516020) tracks the CSI sub-sector chemical industry index, covering popular themes such as AI computing power and new energy [4] - Investors can also access the chemical sector through the Chemical ETF linked funds, which provide a more efficient way to invest [4]

化工板块午后持续强势，反映化工板块整体走势的化工ETF（516020）持续高位震荡，截至发稿，场内 价格涨3.13%。 成份股方面，锂电、磷化工、氟化工等热门板块集体猛攻！截至发稿，恩捷股份涨停，宏达股份、多氟 多双双大涨超8%，天赐材料、浙江龙盛涨超7%，星源材质、华峰化学、荣盛石化等多股涨超5%。 | 序号 代码 名称 | | 主力净流入额▼ | | --- | --- | --- | | 1 - 111111 | CI00500 基础化工(中信) | 195.99亿 | | 2 | CI00501 机械(中信) | 130.33亿 | | 3 | Cl00501 电力设备及新能源(中信) | 124.91亿 | | 4 | CI00500 有色金属(中信) | 2668.56 | | ਰ | CI00502 通信(中信) | 82.26亿 | 化工ETF联接A申购费率为：100万元以下，0.8%；100万元（含）-200万元，0.5%；200万元（含）以 上，每笔1000元。赎回费率为：7天以内，1.5%；7天（含）-180天，0.5%；180天（含）-以上，0%。 细分行业消息面上，一季度主流制冷剂长 ...