齐翔腾达：公司今年的业绩整体呈现出前高后低的走势

Core Viewpoint - The company reported a performance trend of high earnings in the first half of the year followed by significant losses in the third quarter, primarily due to declining prices of key chemical products and supply-demand mismatches [1] Company Summary - The company maintained profitability in the first half of the year but experienced substantial losses in the third quarter [1] - The losses in the third quarter were attributed to a continuous decline in the prices of major chemical products and a mismatch in supply and demand [1] Industry Summary - The implementation of national anti-involution policies has led to better control over new and expanded production capacities, as evidenced by reduced capital expenditures among most listed companies [1] - Industry inventory levels are trending towards reasonable levels as the market gradually digests new capacities [1] - There are signs of recovery in certain sub-sectors, with an increase in the operating rates of enterprises [1] - The demand for stocking in the fourth quarter is expected to positively drive the chemical industry's recovery, supported by ongoing stimulus policies and improving market confidence [1]