ACHT(SH:600207) Jin Tou Wang·2025-12-03 07:02Group 1 - The domestic futures market for energy and chemicals shows a downward trend, with glass futures main contract opening at 1034.00 CNY/ton and experiencing a decline of approximately 1.83% [1] - The operating rate of China's LOW-E glass sample enterprises decreased by 1.1% to 75.1% from November 21 to November 27, indicating a low level compared to previous years [2] - The average order days for deep processing sample enterprises increased by 2.4% to 10.1 days, but this represents a year-on-year decline of 17.9% [2] Group 2 - Future market expectations indicate that the glass demand will enter a seasonal decline, with significant supply and inventory pressures leading to historically low prices [2] - The total inventory of float glass sample enterprises decreased by 941,000 heavy boxes, reaching the lowest level since October [3] - The ongoing decline in real estate completions is negatively impacting demand, and the ability to stabilize prices will depend on the progress of production line repairs and macroeconomic conditions [3]