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圖11氯堿板塊產能投放（出清）和ROE、現金流情況-行業數據

圖11氯堿板塊產能投放（出清）和ROE、現金流情況
圖11氯堿板塊產能投放（出清）和ROE、現金流情況
氯堿：產能出清初始，行業盈利底部反彈。氯堿板塊資本支出在 2023 年觸及近十年頂峰，2024 年開始回落。2024 年我國氯堿行業產能產量小幅增長，開工率維持高位，隨著燒堿價格上漲，燒堿利潤回升，但由于液氯補貼擴大，氯堿綜合利潤回升并不明顯。板塊內代表企業 2025Q1 的 ROE 多數同比改善，部分企業由于具有一體化產業鏈及多樣化化工品業務，ROE 明顯超過行業均值。
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第1頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第2頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第3頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第4頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第5頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第6頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第7頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第8頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第9頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第10頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第11頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第12頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第13頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第14頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第15頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第16頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第17頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第18頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第19頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第20頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第21頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第22頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第23頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第24頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第25頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第26頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第27頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第28頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第29頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第30頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第31頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第32頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第33頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第34頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第35頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第36頁
圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第37頁
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圖11氯堿板塊產能投放（出清）和ROE、現金流情況_第38頁
所屬報告： 化工行業系列研究（二十五）：化工供給側改革蓄力哪些板塊更有空間？-250528（17頁）.pdf
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