全球化工遭遇需求疲软，朗盛为何还要加码中国？

Core Viewpoint - The global chemical industry has not yet seen a recovery due to external environmental factors and industry cycle adjustments, as evidenced by Lanxess's disappointing Q2 2025 financial results [1][2]. Financial Performance - Lanxess reported Q2 sales of €1.47 billion (approximately ¥12.3 billion), a year-on-year decline of 12.6% [1]. - The company's EBITDA for the same period was €150 million, down 17.1% from €181 million in the previous year [1]. Business Segment Performance - The Consumer Protection segment's sales were €489 million, a decrease of 12.8% year-on-year [1]. - The Special Additives segment reported sales of €528 million, down 7.0% [1]. - The High-Quality Intermediates segment's sales fell to €446 million from €478 million in the same period last year [1]. Market Outlook - Lanxess's CEO highlighted the significant deterioration of the economic environment and ongoing tariff negotiations with the U.S., which have increased market uncertainty in the European chemical industry [2]. - Despite the current downturn, Lanxess views the Chinese market as a key driver for future growth, noting that China accounts for 40% of global chemical demand [2][4]. Strategic Adjustments - The company is restructuring its global production network, including the early closure of its hexane oxidation facility in Germany and plans to streamline its aromatic chemicals plant network [3]. - These measures are expected to yield annual permanent cost savings of €50 million starting from the end of 2027 [4]. Focus on China - Lanxess aims to expand its product offerings in China, despite existing supply-demand imbalances, due to the rapid development of the market [4]. - The company is optimistic about opportunities in sectors such as photovoltaic energy and automation, which are expected to drive growth [4][5].