Core Viewpoint - The polymer recycling industry is crucial for alleviating global resource scarcity and environmental pressure, with many countries implementing mandatory regulations for the use of recycled polymers. The establishment of the China Resource Recycling Group signifies a new strategic position for China's polymer recycling industry [3]. Group 1: Conference Overview - The Third Polymer Recycling Conference will be held from December 11-13, 2025, in Ningbo, Zhejiang, focusing on policy trends, chemical and physical recycling technologies, and high-value utilization of recycled materials across various sectors [3][53]. - The conference aims to gather international leading companies, experts, government representatives, and capital to explore the path of polymer recycling [3]. Group 2: Key Speakers and Topics - Zhang Li Qun, an academician of the Chinese Academy of Engineering and president of Xi'an Jiaotong University, will lead discussions on advanced polymer materials [4]. - Li Ming Feng, president of Sinopec Research Institute of Petroleum Processing, will present on the chemical recycling of waste plastics [7][8]. - Experts from various organizations will share insights on innovative recycling technologies, including microwave-driven degradation and enzyme-based recycling methods [10][19][20]. Group 3: Highlights of the Conference - The conference will provide insights into global plastic recycling policies and China's 14th Five-Year Plan for plastic recycling [53]. - Advanced recycling technologies will be discussed, including thermal cracking and catalytic processes for mixed low-value waste plastics [53][56]. - The event will address the challenges of balancing performance, compliance, and sustainability in recycled plastics across industries such as textiles, appliances, and automotive [53]. Group 4: Youth Forum - The Youth Forum will focus on identifying promising teams and technologies in the polymer recycling field, featuring over 20 presentations on innovative recycling techniques and carbon footprint assessment [60].

南方财经 21世纪经济报道记者 赖镇桃 广州报道 "我们学校专门设立了普通话的课程，还有2+2的学制，我们的学生在文莱学习两年之后，会来到中 国，在浙江大学学习一年，再到企业实习。所有这些会到中国交换的文莱大学生，都要学习普通话，至 少掌握初级和中级的中文水平。而且，文莱的华人和当地人融合的很好，在很多地方都能看到中国传统 文化的影子。"文莱大学校长哈兹瑞·基夫莱（HAZRI KIFLE）在近日在华南师范大学举行的"东南亚论 坛"上向21世纪经济报道记者介绍。 在哈兹瑞·基夫莱看来，中国和文莱的高校、人文合作有着广阔的互补空间。文莱由于地处热带，森 林、植物资源丰富，中国学生和学者可以在文莱进行实地研究。中国近年在人工智能、材料、工程等方 面的技术领先，也为赴中国交换的文莱学生提供了很好的修学机会。 中国与文莱的高校合作，一方面促进了两国年轻人的对话、交流和理解，另一方面也直接赋能产业合 作。2019年，两国合作项目恒逸石化（000703）大摩拉岛综合炼化项目正式投产，文莱大学-浙江大学- 恒逸集团联合项目自2014年启动以来就为文莱培养了190余名石油化工人才，部分从中国学成归国的文 莱学子毕业后就进入了两 ...

Market Overview - The refining and trading sector experienced a decline of 0.46% on November 18, with Unified Corporation leading the drop [1] - The Shanghai Composite Index closed at 3939.81, down 0.81%, while the Shenzhen Component Index closed at 13080.49, down 0.92% [1] Stock Performance - He Shun Petroleum saw a significant increase of 9.99%, closing at 33.91, with a trading volume of 179,500 shares and a turnover of 591 million yuan [1] - Unified Corporation closed at 32.56, down 5.43%, with a trading volume of 626,400 shares and a turnover of 2.091 billion yuan [2] - Other notable declines included Hengli Petrochemical down 3.87% and Tongkun Co. down 3.39% [2] Capital Flow - The refining and trading sector experienced a net outflow of 918 million yuan from main funds, while retail investors saw a net inflow of 609 million yuan [2] - The main funds showed a net inflow of 22.74 million yuan into Sinopec, while Wanbangda had a net inflow of 7.22 million yuan [3] Individual Stock Capital Flow - Sinopec had a main fund net inflow of 22.74 million yuan, but retail investors had a net outflow of 21.45 million yuan [3] - Wanbangda attracted a net inflow of 7.22 million yuan from main funds and 9.34 million yuan from retail investors [3] - Other stocks like Huajin Co. and Yuxin Co. also showed mixed capital flows, with varying net inflows and outflows from different investor categories [3]

Group 1 - The company, Hengyi Petrochemical, is recognized as one of the leading enterprises in the PTA and bottle chip industry [2] - The company emphasizes its commitment to maintaining a good market order and competitive ecosystem [2] - The company will continue to monitor industry dynamics and relevant policies [2]

Group 1 - The gradual elimination of overseas PTA capacity is beneficial for improving the supply-demand relationship of PTA products, which has a positive impact on the PTA industry [1] - The company has a total controlled PTA capacity of approximately 21.5 million tons, making it a leading enterprise in the PTA industry [1] - The company possesses industry-leading cost advantages, market scale advantages, and integrated industrial chain advantages [1]

Core Viewpoint - Hengyi Petrochemical is focusing on optimizing its product structure and promoting differentiated filament products, aiming for a leading position in the industry by increasing the proportion of differentiated fiber production to 27% by the first half of 2025 [1] Group 1: Product Strategy - The company is emphasizing the promotion of differentiated filament products, including colored silk, full matte, and cationic fibers [1] - By mid-2025, the production proportion of these differentiated fibers is expected to reach 27%, indicating a strong commitment to product differentiation [1] Group 2: Technological Advancements - Hengyi Petrochemical is accelerating the development of biodegradable fibers and high-value differentiated products under the "Yitai Kang" brand [1] - The company is implementing a technology upgrade path that includes the high-end development of conventional products, functionalization of high-end products, and greening of functional products [1] - Multiple core patent technologies have been developed in areas such as ultra-cotton-like polyester fibers and transparent nylon materials, contributing to the technological advancement of the chemical fiber industry [1] Group 3: Industry Leadership - The company aims to lead the chemical fiber industry towards low-carbon and circular development, reinforcing its position as a technological leader [1]

Market Overview - The refining and trading sector increased by 0.95% compared to the previous trading day, with Unity Co. leading the gains [1] - The Shanghai Composite Index closed at 3972.03, down 0.46%, while the Shenzhen Component Index closed at 13202.0, down 0.11% [1] Stock Performance - Notable declines in individual stocks include: - Kangzhidun (603798) down 5.38% to 16.71 with a trading volume of 64,400 shares and a turnover of 110 million yuan [1] - Baomo Co. (002476) down 3.95% to 6.08 with a trading volume of 279,800 shares and a turnover of 172 million yuan [1] - Other stocks showed minor fluctuations, with Guanghui Energy (600256) and Taishan Petroleum (000554) remaining unchanged at 5.42 and 7.24 respectively [1] Capital Flow - The refining and trading sector saw a net inflow of 67.39 million yuan from main funds, while retail funds experienced a net outflow of 84.64 million yuan [1] - Retail investors contributed a net inflow of 17.25 million yuan [1] Individual Stock Capital Flow - China Petroleum (601857) had a main fund net inflow of 14.02 million yuan, while retail funds saw a net outflow of 10.08 million yuan [2] - Hengli Petrochemical (600346) reported a main fund net inflow of 10.9 million yuan, with retail funds experiencing a net outflow of 79.96 million yuan [2] - Qixiang Tengda (002408) had a main fund net inflow of 9.00 million yuan, while retail funds saw a net outflow of 12.66 million yuan [2]

Group 1 - The chemical sector continues to rise, with the chemical ETF (516020) showing a maximum intraday increase of 1.81% and currently up by 0.96% [1][2] - Key stocks in the sector include potassium fertilizers, petrochemicals, and lithium batteries, with Salt Lake Co. and Hengyi Petrochemical both rising over 6% [1][3] - The lithium battery supply chain has seen significant growth, with strong demand and tight supply leading to price increases in lithium carbonate and lithium hexafluorophosphate [1][3] Group 2 - The basic chemical sector has attracted significant capital, with a net inflow of over 3.2 billion yuan in a single day, ranking fifth among 30 sectors [3][4] - Over the past five days, the basic chemical sector has accumulated a total net inflow of 31.3 billion yuan, the highest among all sectors [3][4] - The chemical ETF (516020) has also seen substantial net subscriptions, exceeding 470 million yuan over the last five trading days [4][5] Group 3 - Valuation metrics indicate that the chemical sector may present a favorable investment opportunity, with the chemical ETF's underlying index trading at a price-to-book ratio of 2.43, which is relatively low compared to the past decade [4][5] - Analysts predict that the basic chemical sector may experience an upward trend starting in 2026, driven by improved domestic demand and supply-side adjustments [5][6] - Key investment opportunities in the sector include low-cost expansion, improving market conditions, new materials, and high dividend yields [5][6]

Core Viewpoint - Hengyi Petrochemical's stock rose by 5.1% to 7.63 CNY per share, with a trading volume of 186 million CNY and a market capitalization of 27.488 billion CNY as of November 17 [1] Group 1: Company Overview - Hengyi Petrochemical Co., Ltd. is located in Xiaoshan District, Hangzhou, Zhejiang Province, and was established on August 13, 1996, with its listing date on March 28, 1997 [1] - The company's main business includes investments in the petrochemical industry, non-ferrous metals, building materials, and electromechanical products, as well as freight forwarding and related import-export activities [1] - The revenue composition of Hengyi Petrochemical is as follows: polyester yarn (45.28%), refined oil products (24.58%), chemical products (9.93%), supply chain services (7.17%), chips (6.27%), PTA (5.36%), and PIA (1.41%) [1] Group 2: Fund Holdings - According to data, one fund under Shenwan Hongyuan holds a significant position in Hengyi Petrochemical, with Multi-Strategy Flexible Allocation A (001148) holding 12.6221 million shares, accounting for 5.33% of the fund's net value, making it the fourth-largest holding [2] - The fund has realized a floating profit of approximately 4.6702 million CNY as of the report date [2] - Multi-Strategy Flexible Allocation A (001148) was established on March 31, 2015, with a current scale of 286 million CNY, and has achieved a year-to-date return of 37.02%, ranking 2055 out of 8213 in its category [2]

Group 1 - The oil processing trade is experiencing a significant upward trend, with companies such as Unified Shares and Heshun Petroleum hitting the daily limit up [1] - Hengli Petrochemical and Hengyi Petrochemical have seen increases of over 4% [1] - Other companies like Runbei Hangke and Maohua Shihua are also experiencing gains [1]