新宙邦：VC作为高附加值产品，进入4季度以来需求持续上升，目前处于满产满销状态

Core Viewpoint - The price of VC (Vinyl Carbonate) has been rising since the second half of this year, leading to a surge in demand as customers begin to make advance purchases for 2026 [1] Group 1: Company Production Capacity - The company’s subsidiary, Hankan Electronic Materials, specializes in the production of lithium battery additives, including VC and FEC [1] - Current VC production capacity is approximately 10,000 tons, with an additional 5,000 tons under construction expected to be operational in the second half of 2026 [1] - The existing precursor CEC has a production capacity of 35,000 tons per year, which can support the use of 15,000 tons of VC and 8,000 tons of FEC [1] Group 2: Market Demand and Utilization - The overall capacity utilization rate of the company's battery chemicals business remains at a reasonable level, with VC being a high-value-added product [1] - Since the fourth quarter, demand for VC has continued to rise, and the company is currently operating at full production and sales capacity [1] Group 3: Future Production Plans - Future capacity planning will be based on market conditions and customer demand [1]