Core Viewpoint - The company, Jinhe Industrial, emphasizes the superior mosquito-repelling capabilities of its product, round grapefruit ketone, highlighting its safety, environmental friendliness, and long-lasting effectiveness [1] Group 1 - The round grapefruit ketone product is characterized by its excellent mosquito-repelling function [1] - The core advantages of the product include being non-toxic, environmentally friendly, and having a durable repelling effect [1] - The company utilizes synthetic biotechnology to convert glucose into round grapefruit ketone through a fully fermented process, ensuring green manufacturing without heavy metals [1] Group 2 - The company has achieved large-scale production of high-purity round grapefruit ketone [1]

Group 1 - The company, Jinhe Industrial, focuses on producing bulk chemicals that serve as raw materials for sweeteners and industrial products [1] - The company aims to build a circular economy and integrate its value chain to ensure stable supply of raw materials, reduce costs, and promote energy reuse [1]

证券日报网讯金禾实业（002597）8月21日在互动平台回答投资者提问时表示，公司始终关注市场动态 及未来发展机遇，如有涉及相关业务的项目计划且达到披露标准，公司将依据相关法律法规及监管要 求，及时履行信息披露义务。 ...

Group 1 - The core viewpoint of the article highlights that Jinhe Industrial (002597) is a leading player in the food additive market, particularly in sweeteners and flavoring products [1] - The company produces high-generation sweeteners such as Acesulfame and Sucralose, which are characterized by high sweetness, pure taste, and high safety [1] - Sweeteners are primarily used in beverages, snacks, canned foods, pickled foods, candied fruits, and fruit cakes [1] Group 2 - The flavoring products include Ethyl Maltol, Methylcyclopentanolone (MCP), and Musk Solution, which are safe, non-toxic, and widely used in food and daily chemical additives [1] - Ethyl Maltol and MCP are effective additives that find applications in processed food and beverages, as well as in cooking [1] - The production capacity and market share of the company's food additives, including Acesulfame, Sucralose, and Maltol, are leading globally [1]

Group 1 - The core viewpoint of the article is that Jinhe Industrial has provided insights into the applications of dichlorosuccinimide, highlighting its significance in various industries [2] - Dichlorosuccinimide is identified as a commonly used organic synthesis intermediate [2] - The downstream application fields for dichlorosuccinimide include pesticides, pharmaceuticals, dyes, lithium batteries, and food additives [2]

Core Viewpoint - The company is progressing according to plan with the construction of projects including an annual production capacity of 100,000 tons of thionyl chloride and 60,000 tons of chlorosulfonic acid, with some facilities already completed and operating well [1] Group 1 - The construction work for the projects is advancing in an orderly manner as per the established schedule [1] - Certain production units have already been built and are functioning effectively [1] - The company is concentrating its resources to ensure the construction progress and aims to complete the projects on time and with high quality [1]

Core Viewpoint - The company is progressing as planned with its projects, including the annual production of 100,000 tons of thionyl chloride and 60,000 tons of chlorosulfonic acid, with some facilities already operational [2]. Project Progress - The company confirmed that the construction of the first phase, which includes an annual production of 50,000 tons of thionyl chloride and 60,000 tons of chlorosulfonic acid, is advancing according to the established schedule [2]. - Some of the facilities have already been completed and are operating well [2]. - The company is focusing its resources to ensure the construction progress and aims to achieve the expected production targets on time and with high quality [2].

Group 1 - The company has confirmed that its produced product, round grapefruit ketone, possesses excellent mosquito-repelling capabilities [2] - The core advantages of the round grapefruit ketone include being safe, non-toxic, environmentally friendly, and having a long-lasting mosquito-repelling effect [2] - The company utilizes synthetic biotechnology to convert glucose into high-purity round grapefruit ketone through a fully fermented process, achieving ton-level production without the involvement of heavy metals [2]

Core Viewpoint - The company has made significant progress in the field of terpene biosynthesis, establishing an innovative platform for synthetic biology and focusing on high-value products like Valencia orange oil [2] Group 1: Research and Development - The company has built a synthetic biology innovation platform through independent research and collaboration with academic and research institutions [2] - Key technologies mastered include strain modification, fermentation process optimization, and product separation and purification [2] - The company is developing non-grain bio-based materials, food ingredients, and daily chemical fragrances derived from terpenes [2] Group 2: Project Status - The high-value fragrance products, such as Valencia orange oil, have completed pilot-scale process validation [2] - The company is exploring industrial production solutions and focusing on cost reduction and efficiency improvement [2] - The company aims to strengthen its technological advantages and market presence in the field of biosynthesis [2]

Investment Rating - The report maintains an "Outperform" rating for the chemical industry [2] Core Insights - The chemical industry is expected to benefit from anti-involution policies aimed at curbing disorderly competition and eliminating outdated production capacity, which may lead to a recovery in industrial product prices and positively impact PPI and CPI [6][11][17] - The report highlights the significant influence of the energy and chemical sectors on PPI, with their price fluctuations directly affecting overall industrial inflation levels [16] - The industry is under pressure from declining product prices and reduced capacity utilization, leading to a strong demand for anti-involution measures [17] - The current valuation of the chemical industry is at a historical low, providing substantial upside potential as the sector is expected to recover from its cyclical bottom [17][19] Summary by Sections 1. Importance of Inflation Recovery - The report emphasizes that the chemical sector is a crucial lever for inflation recovery, as evidenced by the PPI's continuous decline and the need for policy intervention to combat deflationary pressures [6][11] 2. Reasons to Focus on Chemicals - The energy and chemical sectors account for 25%-30% of PPI, making their price recovery vital for overall inflation [16] - The industry faces significant profitability challenges, with nearly 25% of chemical companies reporting losses in 2024 [17] 3. Paths for Anti-Involution in Chemicals 3.1. Active Approach: Industry Self-Regulation - Certain sub-industries, such as polyester filament and sucralose, are attempting to improve profitability through supply-side collaboration, benefiting from high concentration and low profitability [27][29] - The report identifies key chemical products likely to benefit from self-regulation, including polyester filament, polyester bottle chips, and organic silicon [29][31] 3.2. Passive Approach: Policy-Driven Industry Improvement - The report outlines a dual-track policy framework focusing on optimizing existing capacity and strictly controlling new projects to enhance the competitive landscape [27][31] - Historical experiences suggest that effective policy measures will include phasing out outdated facilities and enforcing stricter environmental regulations [27][31]