Core Viewpoint - The company emphasizes the importance of shareholder concerns and market value management, committing to a principle of standardized operations to enhance profitability and maintain market stability [1] Group 1: Company Strategy - The company is actively working to improve its main business profitability, optimize product structure, and reduce production costs [1] - The company is enhancing information disclosure and investor communication as part of its strategy to maintain market value stability [1] Group 2: Market Influences - The current stock price is influenced by multiple external factors, including industry cycles and market sentiment [1] - The company believes that sustainable value enhancement can only be achieved through solid operational management combined with effective capital operations [1]

Core Insights - The company is actively exploring new application scenarios for its core products to enhance added value and market space [1] - The company is expanding its acetone business into the electronic-grade semiconductor cleaning sector to meet the high-purity chemical demands of advanced manufacturing [1] - The research and development of MMA downstream optical-grade PMMA is accelerating, aiming to break foreign monopolies and expand applications in new energy vehicles and new display technologies [1] - The company's subsidiary, Qilu Keli, is extending its catalyst business to develop catalyst technologies required for products like propylene oxide and MMA [1]

Group 1: Company Performance and Market Conditions - The company's performance in the first three quarters of 2025 was relatively weak, with significant losses in Q3 due to declining prices of major chemical products and supply-demand mismatches. However, there are signs of recovery expected in Q4 driven by inventory demand and improved market conditions [1][2]. - In Q3 2025, the company reported a capital expenditure reduction among most listed companies, indicating a trend towards more controlled capacity expansion [1][2]. - The company exported 545,000 tons of products in the first three quarters of 2025, generating $350 million in export revenue, reflecting stable growth in export business [4]. Group 2: Policy Impact and Industry Trends - The anti-involution policy is expected to curb low-level repetitive construction in the chemical industry, promoting the elimination of outdated capacity and shifting the industry focus towards technology, efficiency, and green development [2]. - The company has minimal old capacity over 20 years and has completed equipment upgrades, positioning it to benefit from improved market order due to the policy [2]. Group 3: Strategic Initiatives and Future Plans - The company is exploring new application scenarios for its core products to enhance value and market space, such as expanding the use of acetone in semiconductor cleaning [3]. - The company is actively seeking opportunities for industrial collaboration to optimize resource allocation and enhance overall competitiveness [2][3]. - There are plans for strategic acquisitions and integrations in the current market downturn, as the valuation of target companies with mature technologies is low, which could strengthen the company's position in high-value product lines [3].

Core Viewpoint - The company, Qixiang Tengda, is currently experiencing good production and operational conditions, with a high overall capacity utilization rate and the ability to flexibly adjust operational loads based on market demand [2] Group 1: Production and Operational Efficiency - The company has maintained a high overall capacity utilization rate across its production facilities [2] - It is optimizing existing resources to enhance product profitability and operational efficiency [2] - The implementation of technological upgrades and adjustments has effectively reduced overall energy consumption and production costs [2] Group 2: Profitability and Risk Management - The company is focused on deepening the potential within its facilities to further enhance profitability [2] - These efforts contribute to strengthening the company's ability to withstand risks [2]

证券日报网讯齐翔腾达（002408）11月17日在互动平台回答投资者提问时表示，公司各项经营工作稳步 推进，全年目标将根据市场环境及内部运营情况进行动态调整，具体财务数据请以公司定期报告为准。 ...

Core Viewpoint - The company, Qixiang Tengda, is experiencing stable growth in product exports, with a diverse range of over ten types of products being exported to various regions, while the impact of the US-China tariff pause on its export business is limited [1] Group 1: Export Performance - The company maintains stable growth in product exports [1] - The variety of exported products exceeds ten types [1] - Main export markets include East Asia, Southeast Asia, West Asia, Europe, and South America, with no direct exports to the United States [1] Group 2: Strategic Outlook - The company plans to continuously optimize its international market layout [1] - It aims to leverage regional advantages in international trade to further increase the proportion of product exports [1] - The goal is to enhance profitability through these strategies [1]

Core Viewpoint - The company Qixiang Tengda (002408) is currently constructing its nonyl alcohol project, with progress being adjusted based on market conditions [1] Group 1 - The raw material pretreatment facility for the nonyl alcohol project has been completed [1] - Some civil construction and equipment foundation work has been finished [1] - The company will provide updates on the project progress through official announcements [1]

证券日报网讯齐翔腾达（002408）11月17日在互动平台回答投资者提问时表示，截至2025年10月20日公 司股东户数为56721户。 ...

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]

Core Viewpoint - The company, Qixiang Tengda, is experiencing stable growth in product exports, with a diverse range of over ten types of products being exported to various regions including East Asia, Southeast Asia, West Asia, Europe, and South America, while not exporting directly to the United States [1] Group 1 - The company has stated that the impact of the suspension of tariffs between China and the United States on its current export business is limited [1] - The company plans to continuously optimize its international market layout, leveraging regional advantages in international trade to further increase the proportion of product exports and enhance profitability [1]