Di Yi Cai Jing·2025-08-19 00:14Group 1 - The A-share market has four listed companies with TDI-related production capacity: Wanhua Chemical, Cangzhou Dahua, Beihua Co., and Hangjin Technology [1] - Wanhua Chemical is the domestic leader in TDI, with a TDI production capacity of 1.11 million tons per year as of the end of 2024; a second TDI project in Fujian with a capacity of 360,000 tons per year is expected to be completed and operational by May 2025, bringing total TDI capacity to 1.47 million tons per year [1] - Cangzhou Dahua currently has an annual TDI production capacity of 160,000 tons, with stable operation of its main production facilities and leading product quality and cost control in the industry; in the context of a tight TDI market supply and demand, the company maintains full-load operation of its facilities, achieving a balance between production and sales [1]