研报掘金丨开源证券：维持新凤鸣“买入”评级，投建埃及长丝项目，全球化布局进一步提速

Core Viewpoint - The report from Kaiyuan Securities highlights that Xin Fengming is accelerating its global expansion by investing approximately $280 million in a functional fiber project in Egypt, maintaining a "Buy" rating for the company [1] Company Summary - Xin Fengming plans to invest around $280 million to establish a 360-acre functional fiber project in Egypt, which will have an annual production capacity of 360,000 tons of functional polyester fibers [1] - The project will include the construction of manufacturing plants for POY, FDY, and DTY, and will also involve leasing a dock at a nearby port for tank area construction [1] - The implementation of this project is expected to enhance the company's international influence and market competitiveness, helping to mitigate trade barriers and respond to adverse factors such as tariff wars and trade conflicts [1] Industry Summary - The PTA industry is currently facing significant losses, leading production companies to seek synergies [1] - The outlook for the PTA industry is optimistic, with expectations for a positive development phase ahead, potentially allowing products to turn from loss to profit [1]