基础化工板块方面，2020Q1 以来公募基金对基础化工股票整体配置比例持续回升，2022Q2 公募基金所持基础化工股市值占重仓持股配置比例提升至3.68%，环比+0.13pcts，同期基础化工股票于A 股中市值占比为4.35%，环比+0.04pcts。石油化工板块方面，2020 Q3 以来公募基金石油化工股票整体配置比例提升趋势明显， 2021Q4 出现回落。 2022Q2，公募基金所持石油化工股市值占其重仓持股配置比例为0.98%，环比+0.05pcts，同期石油化工股票于A 股中市值占比为2.76%，环比-0.18pcts。

万顺新材：1）公司申请向特定对象发行股票获深交所上市审核中心审核通过，募集资金总额不超过15.926 亿（含本数），其中12 亿将用于年产10 万吨动力及储能电池箔项目，3.926 亿将用于补充流动资金。2）公司全资子公司江苏中基拟以自有资金对四川万顺中基增资2 亿，本次增资后，四川万顺中基注册资本由5000 万增至2.5 亿，江苏中基持有其100%股权。本次增资将增强四川万顺中基的资金实力，提高融资能力，提升抗风险能力。3）公司拟使用自有资金2000 万投资设立全资子公司江苏宇锵，并以江苏宇锵为项目实施主体投资建设年产5 万吨新能源涂碳箔项目，预计总投资人民币5.2 亿，建设资金由江苏宇锵自筹资金解决，其中：固定资产投资为3.2 亿，项目铺底流动资金为2 亿。

Goat milk cosmetics are a small but growing component of the worldwide cosmetics industry. Despite the fact that market concentration is steadily rising as more small firms enter the market, big global cosmetic brands have yet to gain market dominance. Premium skincare products with no dangerous chemical components are becoming increasingly popular among consumers. As a result, indigenous brands are rapidly hitting the market with a variety of natural components that claim to have medicinal characteristics. These items are more likely to catch the attention of customers.

Polyalphaolefins are the most prevalent synthetic base oils used in industrial and automotive lubricants. It's a synthetic hydrocarbon (SHC) that replicates hydrocarbons since it is available in a branched structure. There are no ring structures, double bonds, sulfur, nitrogen components, or waxy hydrocarbons in polyalphaolefins. Due to the lack of these structures and materials, a non-polar base oil with a high viscosity index, excellent low-temperature flow and pour-point characteristics, strong oxidation stability, and compatibility with mineral oils, paints, and seals that are usually found in lubricating oil systems is produced. PAOs do not contain lighter, more volatile (small) hydrocarbons due to their regulated structure. This reduces their volatility and hydrocarbon emissions from tailpipes and elevates the flash point.

Establishments described in this report are primarily participating in the wax emulsion market. A wax emulsion is a stable mixture of one or more waxes in water. Waxes and water are normally immiscible but can be brought together stably by the use of surfactants and a clever preparation process. Strictly speaking a wax emulsion should be called a wax dispersion since the wax is solid at room temperature.

甜味剂替代趋势的必然性：随着全球糖尿病人数量的增长，公众的健康意识和各国控糖措施的升级，甜味剂在用糖领域的渗透率持续提升。2020年全球人工甜味剂市场规模约20亿美元，下游应用领域包括饮料、烘焙、奶制品、糖果等领域，以工业化食糖消费的替代为主。

结合强监管政策影响以及行业整体趋势，我们认为未来化妆品企业的竞争将围绕产品功效，把握消费者对于功效喜好的趋势尤为重要。因此，新品研发能力强或已经具备热门功效明星产品的公司有望在当下激烈的竞争中突围。核心推荐：具备产品差异化的皮肤学级护肤品赛道，加速布局植物提取技术的贝泰妮；主打大单品策略，不断进行大单品系列拓展，同时高度重视活性成分研发，加大与海外企业进行活性成分合作共研的珀莱雅；建议关注：产业链一体化布局，活性成分技术走在最前沿的华熙生物；业务主要涉及防晒剂和合成香料，产能持续拓展的科思股份。

全球经济增速预期与上月持平，原油预期平均日需求较2021年同比上升3.47%，与经济增速相近。OPEC7月报预期2022年全球经济增速为
3.5%，与上月预期持平。全球原油需求保持稳定，为10029万桶/天，不过该数值超越疫情前2019年单日10020万桶/天。经合组织欧洲及亚太区域2022年日均需求较二季度环比下滑，预计三、四季度会有所反弹。