嘉化能源：公司PVC产品主要市场均在国内，目前出口量占比不高

Core Viewpoint - The PVC industry is undergoing a transition towards mercury-free production methods due to the influence of the Minamata Convention and national policies, which presents cost pressures for companies using the calcium carbide method [2] Company Summary - Jiahuan Energy stated that the calcium carbide method for PVC production requires mercury chloride as a catalyst, making the transition to mercury-free production a significant trend [2] - The company utilizes the ethylene method for PVC production, which has advantages in terms of impurities and product performance compared to the calcium carbide method, and does not involve mercury catalysts [2] - Currently, the company's PVC products are primarily marketed domestically, with a low export volume [2] Industry Summary - In the long term, if the export tax rebate for the PVC industry is canceled, outdated and high-cost production capacities will be eliminated, leading to an optimized supply-side structure in the PVC industry [2]