Ge Long Hui·2025-11-13 06:52Core Viewpoint - The report from Dongwu Securities indicates that the price of Vinyl Carbonate (VC) has risen to 77,500 yuan per ton, benefiting companies like Fuxiang Pharmaceutical due to increased demand in both domestic and overseas energy storage markets [1] Industry Summary - The recent surge in VC prices is attributed to a reversal in the supply-demand dynamics within the industry, driven by heightened energy storage needs [1] - The price of upstream pharmaceutical raw material 6-APA has decreased year-on-year, leading to a significant improvement in the gross profit margin of the company's main business [1] Company Summary - Fuxiang Pharmaceutical is positioned to benefit from the rising VC prices and the declining 6-APA prices, with significant investments in production capacity through its subsidiaries [1] - The company has invested in projects to produce 6,000 tons of lithium battery additives and 10,000 tons of VC along with 2,000 tons of FEC [1] - The investment strategy and market conditions have led to a maintained "buy" rating for the company [1]