wanhua(SH:600309) DT新材料·2025-05-12 15:57Group 1 - The core viewpoint of the article is that Wanhua Chemical has outlined its investment plans for 2024 and 2025, focusing on expanding its production capacity and developing new materials, particularly in the polyurethane and high-performance materials sectors [1][2]. - In 2024, Wanhua Chemical plans to invest a total of 454 billion yuan, with an actual investment completion of 428.3 billion yuan, covering projects related to polyurethane and high-performance materials [1]. - For 2025, the planned investment is 294.3 billion yuan, with a focus on key projects such as MDI capacity expansion and the industrialization of green functional additives and battery materials [1]. Group 2 - The first project mentioned is the HEMA Phase II technical transformation and capacity expansion project, which aims to increase the HEMA production capacity by 20,000 tons per year, bringing the total capacity to 55,000 tons per year [3][4]. - HEMA is a functional organic polymer monomer widely used in medical high polymer materials and various applications such as automotive coatings and 3D printing [4][5]. - The second project is the expansion of the lemon aldehyde HCTA and BRA units, which will increase the MDO capacity from 5,400 tons to 10,000 tons per year [7][8]. - Lemon aldehyde is an important fine chemical widely used in flavors, cosmetics, and pharmaceuticals, particularly as a key intermediate in vitamin A production [7][8].