方大炭素拟入局杉杉集团重整，加速负极产业布局

Core Viewpoint - The participation of Fangda Carbon in the restructuring of Shanshan Group represents a strategic move to enhance its position in the negative electrode industry and achieve supply chain stability [3][9]. Group 1: Company Involvement - Fangda Carbon announced its intention to participate in the substantive merger restructuring of Shanshan Group and its wholly-owned subsidiary, Pengze Trading [3]. - Shanshan Group, controlled by Shanshan Co., is a leading global player in lithium battery anode materials and polarizers [3]. - Fangda Carbon aims to leverage its advantages in technology, capital, and channels within the negative electrode industry to facilitate the restructuring process [8][9]. Group 2: Restructuring Background - Shanshan Group's restructuring has faced multiple challenges, including a court ruling in February 2023 to accept its bankruptcy restructuring [5]. - A previous restructuring plan was rejected by creditors, highlighting the intense competition and skepticism regarding the capabilities of the restructuring investors [7][8]. - The restructuring process has seen the withdrawal of previous investors, prompting the recruitment of new potential investors, including Fangda Carbon [8][9]. Group 3: Financial Performance - Fangda Carbon has experienced declining financial performance, with projected revenues of 5.132 billion yuan and 3.872 billion yuan for 2023 and 2024, respectively, representing year-on-year declines of 3.54% and 24.55% [10]. - The company's net profit for 2023 is expected to be 416 million yuan, down over 50% compared to previous years [10]. - In the first three quarters of 2023, Fangda Carbon reported a revenue of 2.622 billion yuan, a year-on-year decrease of 16.79%, and a net profit decline of 55.89% [11].