Core Viewpoint - The overall order and environment of the caprolactam market have improved due to industry collaboration and recovering market demand, with product prices rising from 8,050 RMB/ton in early November 2025 to 9,900 RMB/ton by February 11, 2026, driven by China Xuyang Group's innovation and capacity expansion [1] Group 1: Capacity Expansion and Technological Innovation - China Xuyang Group has achieved significant breakthroughs in cost control and production efficiency through capacity expansion and technological upgrades, reaching a total caprolactam production capacity of 810,000 tons/year, with a market share of approximately 9.6% [2] - The Cangzhou Park serves as the flagship base for caprolactam production, with a total annual capacity of 510,000 tons, supported by a complete industrial chain established through major expansions from 2019 to 2022 [3] Group 2: Industrial Chain Extension and New Market Opportunities - The Dongming Park has also completed capacity upgrades, achieving an annual production capacity of 300,000 tons of caprolactam, enhancing collaboration between the two parks and laying a solid foundation for the development of new nylon materials [4] - The company has developed a proprietary process for direct preparation of hexamethylenediamine from caprolactam, breaking foreign technology barriers and creating a complete set of intellectual property rights, which will support further development into high-end nylon fields [4] Group 3: Strategic Development and International Competitiveness - Looking ahead, the company plans to leverage the synergistic effects of its two major parks, focusing on both independent research and technology introduction to tackle disruptive core technologies in the nylon sector [5] - The company aims to establish a national-level nylon new materials industry base by fostering deep cooperation with downstream enterprises, creating a comprehensive caprolactam-nylon industrial chain [5]
中国旭阳集团(01907)：创新驱动，铸就己内酰胺全球领航者