Ge Long Hui A P P·2026-01-14 07:41Group 1 - The core viewpoint of the article highlights the ongoing anti-involution in the domestic polyester chain, with the Egyptian filament project opening new growth opportunities for the company in the long term [1] - By the end of December 2025, major domestic polyester filament manufacturers plan to implement self-discipline production cuts to maintain prices, with a planned reduction of 10% for POY and 15% for FDY, and further reductions expected around the Chinese New Year [1] - The company's net profit attributable to shareholders faced pressure in the third quarter, primarily due to PTA profitability impacts [1] Group 2 - The large refining industry continues to push for anti-involution, which is expected to lead to an upward trend in the polyester chain's prosperity [1] - The Egyptian filament project plans to add 360 acres of land for the construction of manufacturing plants for POY, FDY, and DTY, aiming for an annual production capacity of 360,000 tons of functional polyester fibers [1] - The project will also involve leasing a terminal at a nearby port for tank area construction, which will help the company avoid trade barriers and respond to tariffs and trade wars, enhancing its international influence and market competitiveness [1] Group 3 - With the ongoing anti-involution in the polyester chain, the company's profitability is expected to improve in the future [1] - The company is viewed positively for its future growth potential, with an initial coverage rating of "Buy" assigned [1]