Group 1 - Wan Kai New Materials plans to orderly reduce PET production and conduct equipment maintenance, affecting 600,000 tons of PET capacity, which accounts for 20% of the company's total capacity [1] - The reduction is a response to industry overcapacity and losses, with peers also deciding to limit production to reduce inventory [1][4] - The company reported a loss last year due to intensified competition and a more than 30% decline in average processing fees, despite stable sales volume [1] Group 2 - In May, China Resources Materials indicated that PET capacity is expected to remain in phase overcapacity until 2025, focusing on cost reduction and quality improvement [2] - The polyester bottle chip capacity is projected to increase from 16.61 million tons at the end of 2023 to 20.43 million tons, a nearly 23% year-on-year increase [3] - Wan Kai New Materials is expanding its overseas capacity with a 300,000-ton production base in Nigeria and plans for a 750,000-ton base in Indonesia [3] Group 3 - In 2024, the company's overseas business revenue reached 6.239 billion yuan, a year-on-year increase of 11.61%, accounting for 36.21% of total revenue [4] - Major companies, including Hainan Yisheng and China Resources Materials, have announced production halts to address domestic overcapacity and optimize resource allocation [4]
行业产能过剩 万凯新材主动调减PET生产计划