B[CITIC Construction Investment: Looking forward to October, performance has entered the verification period, and overseas liquidity pressure has been marginally eased] On October 5, CITIC Construction Investment Securities Research Report pointed out that the overall adjustment of A-shares in September, the tightening of overseas liquidity and the digestion of the valuations of sectors with higher previous gains, the direction of growth and resources has retreated significantly, and low-level sectors such as real estate, medicine, and banks are relatively dominant. Looking forward to October, overseas liquidity pressure has eased, the market has entered a period of intensive disclosure of third quarter reports, and the importance of fundamental verification has further increased. It is expected that the profit of the technology sector will maintain a high growth rate in the third quarter report, and the profit expectations of some industries such as resource products, pharmaceuticals and non-bank finance will also improve; in terms of high-frequency boom, AI hardware will continue to have a high boom, energy prices will remain strong, and the mid-term supply and demand logic of industrial metals will still be supported. After the adjustment in September, the valuation pressure on some high-prosperity industries has been relieved. In terms of allocation, it is recommended to focus on AI hardware with high performance certainty, industrial metals, coal, oil and gas and basic chemicals supported by supply constraints and improved profits, as well as innovative drugs with good industry trends and securities insurance with low valuations and improved profits. B[Semiconductor demand ignites the market, isopropyl alcohol has risen by more than 40% in more than two months] September 30th, since September, isopropyl alcohol (IPA) has become one of the leading varieties in the domestic chemical sector. According to SunSirs' monitoring, the domestic reference price of isopropyl alcohol was 9,308.33 yuan/ton on September 29, an increase of 23.84% from September 1; the market once hit a stage high of 9,780 yuan/ton during the month, which was a year-long low of 6,142 yuan/ton in early July, with a cumulative increase of more than 40% in more than two months. Isopropyl alcohol is an indispensable cleaning solvent for semiconductor manufacturing and is widely used in wafer cleaning, photoresist residue stripping, and precision drying. B[Preview: China Council for the Promotion of International Trade will hold September regular press conference on September 29] September 28th, China Council for the Promotion of International Trade is scheduled to organize a September regular press conference at 10:00 am on September 29 (Tuesday) at the China Council for the Promotion of International Trade auditorium. The main contents of this press conference include: the relevant information of the APEC Business Leaders Summit, the progress of preparations for the China Pavilion at the World Expo in Belgrade, Serbia, measures to promote the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, considerations for promoting economic and trade cooperation between China and the United States, measures to improve the standardization of service trade, highlights of the 19th European Fair, activities of the Global Business and Rule of Law Conference, etc. The global economic and trade friction index in July and the commercial certification data of the National Trade Promotion System in August were released, and reporters' questions were answered on the spot. B[The contradiction between supply and demand intensifies, and sulfuric acid prices accelerate to bottom out before the holiday] On September 21, the domestic sulfuric acid market continued to be sluggish, and prices accelerated to bottom out. As of last week, the domestic 98% sulfuric acid Longzhong price index fell sharply to 1,380 yuan/ton, a decrease of 10.39% from the previous week, and the decline significantly expanded from the previous two weeks. Analysts said that although the downstream phosphate fertilizer operating rate showed slight signs of recovery, the supply-side production continued to rise, the cost-side sulfur price collapsed, and transportation was restricted during the double festival. Under the triple negative combination, the market was pessimistic and it was difficult to find support for acid prices before the holidays. (Longzhong Information) B[The sulfur market is under pressure and downwards, with port and domestic bidding prices falling month-on-month] September 20th, the current international sulfur supply and demand pattern is still tight, but the domestic sulfur market has shown a clear downward trend recently. In terms of ports, the mainstream pellet price in Zhenjiang Port dropped to 7,200 yuan/ton, a decrease of 500 yuan/ton from last week. The loosening of external prices has further weakened the confidence of spot holders in supporting prices. After Indonesia's CFR US$960/ton order was placed, there were market rumors that China and India had intention to buy at a price lower than CFR US$1,000/ton, but suppliers did not accept it. Since then, India has concluded a transaction around CFR US$1,050/ton. The enthusiasm for domestic bidding has dropped significantly. The price of liquid sulfur in Shandong has reached 7,600-7,625 yuan/ton, a month-on-month decrease of 205-345 yuan/ton; the price of solid sulfur in northwest China has reached 7,250-8,000 yuan/ton, a month-on-month decrease of 250-820 yuan/ton. (Longzhong Information) B[Wang Weiming, Chief Engineer of the Ministry of Industry and Information Technology: Special actions to improve automobile standards will be implemented and the optimization of the credit period will be implemented] On September 19, Wang Weiming, Chief Engineer of the Ministry of Industry and Information Technology, said at the 2026 China Automotive Industry Development (TEDA) International Forum today that China’s automobile industry has ushered in a critical period of improving quality, efficiency, transformation and upgrading. The Ministry of Industry and Information Technology will further optimize industry management, further promote product production consistency and quality improvement actions, guard the bottom line of product safety, implement special actions to improve automobile standards, give full play to the role of standards in leading industrial upgrading, optimize points management policies, establish a power battery digital ID system, do a good job in the implementation of account period optimization work, normalize network chaos, and standardize the order of industry competition. (Reporter Xu Hao) B[Wang Weiming, Chief Engineer of the Ministry of Industry and Information Technology: Special actions to improve automobile standards will be implemented Optimizing points management policy] On September 19, Wang Weiming, chief engineer of the Ministry of Industry and Information Technology, said at the 2026 China Automotive Industry Development (TEDA) International Forum that it is necessary to further optimize the management of the automobile industry, deeply promote product production consistency and quality improvement actions, guard the bottom line of product safety, implement special actions to improve automobile standards, give full play to the role of standards in leading industrial upgrading, optimize points management policies, establish a power battery digital ID system, do a good job in the implementation of optimization work, normalize network chaos, and standardize the order of industry competition with the spirit of nailing. (Securities Times) B[Two departments: Accelerate the development of electronic design automation tools (EDA) and intellectual property cores (IP cores) and promote technological breakthroughs and applications such as three-dimensional integration] On September 15, the Ministry of Industry and Information Technology and the National Development and Reform Commission issued the "Fifteenth Five-Year Plan for the Development of Electronic Information Manufacturing Industry", which mentioned that promoting research on the entire integrated circuit chain. Develop high-end chip products such as high-performance processors, high-density memories, high-reliability analog and digital-analog hybrid chips. Improve the level of integrated circuit manufacturing, refine and mature processes, and improve advanced process capabilities. Promote the development and application of advanced packaging and testing technology. Promote the quality and upgrading of the wide-bandgap semiconductor industry, and promote the industrial development of ultra-wide-bandgap semiconductors such as gallium oxide and diamond. Continue to improve the supply capacity of key equipment, materials and parts, accelerate the development of electronic design automation tools (EDA) and intellectual property core (IP core), and promote technological breakthroughs and applications such as three-dimensional integration. B[Seven departments: Continue to promote the creation of smart factories and green factories and implement "intelligent transformation, digital transformation, network connection" and green and low-carbon technological transformation] On September 4, seven departments including the Central Cyberspace Administration of China jointly issued the "Implementation Plan for Promoting Digital, Green and Collaborative Transformation Development (2026-2030)". It is mentioned that the manufacturing industry is digital and green. Implement traditional industry rejuvenation actions, focusing on metallurgy, chemical industry, light industry, textile, machinery, shipbuilding and other industries, support enterprises in the extensive use of digital intelligence and green technologies, and promote equipment updates, process optimization, and management innovation. Peiyou and strengthen the industrial Internet platform, vigorously develop intelligent software and hardware products and solutions for key industries and key scenarios, and accelerate the development of a new generation of intelligent manufacturing and green manufacturing. Encourage industrial enterprises and parks to build digital energy and carbon management centers that integrate functions such as energy efficiency benchmarking, energy efficiency balance and optimization, energy consumption and carbon emission budget management, carbon emissions and carbon footprint accounting, and supply chain carbon management to achieve precise measurement, refined management and control, intelligent decision-making, and visual presentation of energy consumption and carbon emissions. Continue to promote the creation of smart factories and green factories, and guide enterprises to implement "smart transformation to digital transformation" and green and low-carbon technological transformation around energy low-carbonization, resource efficiency, clean production and green products. B[The State Administration for Market Regulation unconditionally approved the new joint venture between Jingrui Electronic Materials and Gaoqiao Petrochemical Co., Ltd.] On September 4th, the State Administration for Market Regulation released a list of cases that unconditionally approved the concentration of undertakings from August 24 to August 30, 2026, including the case of Posco Holdings Co., Ltd.'s acquisition of the equity of Li Holdco Pty Ltd, the case of Jingrui Electronic Materials Co., Ltd. and Sinopec Shanghai Gaoqiao Petrochemical Co., Ltd.'s new joint venture, and the acquisition of INCLOO by AISG Labs Pte. Ltd. TECHNOLOGY PTE. LTD. equity case, Shandong Jixin Industrial Development Co., Ltd.'s acquisition of Jiangsu Chang Aluminum Group Co., Ltd.'s equity case, ConocoPhillips Iraq Holding Co., Ltd.'s acquisition of BP Kirkuk Energy Co., Ltd.'s case, British Columbia Investment Management Company and Dutch Huiying Asset Management Co., Ltd. and other operators' acquisition of some assets of Hancock Chile Plantation Co., Ltd., Munich Re's acquisition of Vifford GP S.à r.l.'s equity case, CP Industrial Capital Management Co., Ltd. and C2X LTD's new joint venture case, and Dana Co., Ltd.'s acquisition of part of Eaton Co.'s business. B[Chemical sector continues to rise, Jiangtian Chemical reaches 20cm daily limit] On September 1st, the chemical sector continued to rise during the session, with Jiangtian Chemical reaching its daily limit of 20cm. Previously, Jinzhengda and Jihua Group reached their daily limit, Deere Chemical and Lvheng Technology rose by more than 10%, and Red Sifang, Jinmei Technology, Jindan Technology, Jinniu Chemical, Luxi Chemical, etc. quickly surged higher. On the news, domestic energy and chemical futures prices generally rose, with the main ethylene glycol contract of the Dalian Commodity Exchange soaring 8% and the main methanol contract of the Zhengzhou Commodity Exchange soaring 6%.
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