RED SUN(SZ:000525) Ge Long Hui A P P·2025-11-27 10:20Core Viewpoint - The company aims to expand its market share and enhance competitiveness by establishing a full industrial chain centered around pyridine alkaloids in Qujing, Yunnan, through a cooperation framework agreement with Qujing High-tech Investment Co., Ltd [1][2]. Group 1: Agreement Details - The agreement stipulates that Qujing Maoyuan New Materials Technology Co., Ltd., a wholly-owned subsidiary of the partner, will construct a 50,000 tons/year new pyridine alkaloid circular economy industrial chain project based on designs and production processes provided by the company [2]. - The partner is responsible for the investment and construction of the project, with the company planning to operate the project through entrusted operations or leasing after completion, with a cooperation period not exceeding thirty years [2]. - During the cooperation period, if the project generates positive returns, the company will leverage capital market advantages to purchase project assets to gain operational control, with specific terms to be defined in a formal agreement [2]. Group 2: Strategic Implications - The establishment of the full industrial chain is expected to accelerate project completion, increase market share, and enhance the company's market competitiveness [2]. - The initiative will allow the company to build a cost advantage across the entire industrial chain by utilizing the lower production factor costs in the Qujing High-tech Chemical Park [2]. - This strategy also aims to integrate resources and expand into the Yunnan and Southeast Asian markets [2].