SFX(SH:600370) Shen Zhen Shang Bao·2026-01-20 00:20Group 1 - The core business of the company, Sanfangxiang, includes the production and sales of bottle-grade polyester chips and PTA, with supplementary operations in PBT engineering plastics and thermal power [3] - The company anticipates a significant decline in sales prices and capacity utilization rates in 2025 due to the release of new industry capacities, leading to increased competition and a decrease in gross profit [3] - Sanfangxiang has reported consecutive losses in 2023 and 2024, with net profits of -275 million yuan and -487 million yuan respectively, projecting a cumulative loss of approximately 1.52 billion to 1.60 billion yuan over three years [3] Group 2 - As of September 30, 2025, the company's asset-liability ratio reached 73.14%, significantly higher than the industry average of 39.31% [3] - Accounts receivable stood at 3.816 billion yuan, showing a year-on-year decrease of 7.59% [3] - The company's controlling shareholder has pledged a total of 2.967 billion shares, representing 100% of its holdings and 76.15% of the company's total share capital [4] Group 3 - On January 19, the company's stock price increased by 3.13%, closing at 2.64 yuan per share, with a total market capitalization of 10.29 billion yuan [5]