宁波色母：新建的滁州子公司投资项目现处于建设期，项目投产后采取定制化订单模式生产

Group 1 - The company's photovoltaic POE film masterbatch revenue is expected to increase by 446% year-on-year in Q3 2025, with a gross margin of 42% [2] - The new Chuzhou project, with a capacity of 50,000 tons, is anticipated to commence production in Q1 2026, which will enhance the proportion of the photovoltaic business in total revenue [2] - The company's main products include color masterbatches, white masterbatches, black masterbatches, and functional masterbatches, which are widely used in various plastic products across multiple industries [2] Group 2 - The company is currently in the construction phase of the Chuzhou subsidiary investment project, which will adopt a customized order production model upon completion [2] - The company acknowledges potential risks such as intensified industry competition, fluctuations in raw material prices, and lower-than-expected market demand [2]