Industry Overview - The polyethylene industry in China is transitioning from "scale expansion" to "quality improvement," with a production capacity of 34.31 million tons per year in 2024, representing a year-on-year growth of 5.86% [1][10] - Demand for polyethylene continues to grow in traditional sectors such as packaging, construction, and agriculture, particularly driven by the expansion of e-commerce logistics [1][10] - The diversification of technological routes is leading to an increased share of light hydrocarbon-based polyethylene production due to cost advantages, while coal-to-olefin projects are shifting towards high-end production under policy constraints [1][10] Industry Development History - The development of the polyethylene industry in China has gone through four stages: initial stage (1950s-1970s), rapid development (1980s-2000s), high-speed growth (2001-2010), and structural adjustment and upgrading (2011-present) [4][5][6] - The industry saw significant technological upgrades in the 1980s and 1990s, with the introduction of advanced equipment from Japan and Germany [4] - The entry into the WTO in 2001 led to a surge in exports and the establishment of foreign enterprises in China, further expanding production capacity [5] Industry Chain - The upstream of the polyethylene industry includes raw materials and production equipment, primarily ethylene sourced from crude oil cracking, natural gas, and coal [8] - The midstream involves the manufacturing of polyethylene, while the downstream applications span packaging, construction materials, agricultural films, and more [8] Current Industry Status - The polyethylene market is currently characterized by "high supply, high inventory, and weak demand," with a main settlement price of 7,157.2 yuan per ton as of April 25, 2025 [14] - Despite a year-on-year increase in production capacity, supply has been temporarily tightened due to maintenance of production facilities [14] - The import volume of polyethylene has increased by 6.35% to 363.71 thousand tons, indicating strong domestic demand despite high reliance on imports [12][14] Key Companies' Performance - China Petrochemical Corporation (Sinopec) leads the market with a polyethylene production capacity of 9.02 million tons per year, having developed high-end products that break international monopolies [18] - China National Petroleum Corporation (CNPC) has a capacity of 6.6 million tons per year, focusing on high-end polyethylene products and achieving significant sales growth [20] - The competitive landscape is marked by low market concentration, with state-owned enterprises dominating high-end markets while private enterprises like Zhejiang Petrochemical are rapidly emerging [16][18] Industry Development Trends - The polyethylene industry is expected to continue expanding capacity while optimizing its structure, focusing on high-end product development to meet increasing market demands [22] - Technological innovation and green development are becoming mainstream, with advancements in catalysts and production processes aimed at improving efficiency and reducing costs [23][24] - Market demand is diversifying, with applications expanding into new sectors such as electric vehicles and photovoltaics, prompting companies to enhance product development and international market strategies [25]

同时，公司通过优化生产工艺、加装智能监测系统，实现"三废"治理从"末端"向"源头"转变，树立了绿 色生产标杆，并以"精准治污"为目标，建成"冷凝+酸洗+氧化+活性炭吸附脱附"深度治理装置，使VOCs 治理效率提升至90%以上。 在生产流程优化方面，公司300#精馏系统引入多变量预测控制等技术，提升自动化水平，降低蒸汽消 耗；自主开发的触媒净化再利用工艺，不仅提高了触媒活性，还实现了资源循环利用，确保生产安全、 平稳、高效。在能源管理方面，公司打造"梯级利用"样板间、循环水泵换装高效节能"心脏"，电耗降低 15%；凉水塔风机改用永磁电机，系统效率提升12%；精馏装置余热回收项目每年节约标准煤7000吨。 在水资源管理方面，公司采取通过"三回两替一降低"举措，实现水资源的优化配置与梯级利用。 中化新网讯 近日，唐山市工业和信息化局发布《关于公布唐山市2025年度达到市级绿色工厂条件企业 名单的通知》，三友集团硅业公司成功入选。 为推进绿色发展，三友硅业成立了"绿色发展管理委员会"，将绿色指标纳入核心考核体系，形成"目标 分解—过程管控—成效评估"的闭环机制，并制定《节约能源中长期规划》，明确"资源利用最大化、能 ...

金十数据5月29日讯，据商务部网站，5月29日，商务部部长王文涛在斯里兰卡科伦坡与斯里兰卡贸易部 部长萨马拉辛哈共同主持召开中国—斯里兰卡经贸联委会第8次会议，双方就高质量共建"一带一路"、 扩大贸易投资合作、维护多边贸易体制深入交换意见，达成广泛共识。王文涛表示，中方愿与斯方进一 步发挥相关经贸机制作用，促进贸易畅通，扩大进口斯优质产品，推动双边贸易平衡可持续发展；加大 投资合作，以投资带动贸易，做好投资促进，优化营商环境，以绿色发展和数字经济为发展赋能，推动 中斯乃至南亚区域共同繁荣。 中国—斯里兰卡经贸联委会第8次会议在斯里兰卡科伦坡召开 ...

Core Viewpoint - The article emphasizes the integration of ecological protection and economic development in Tonggu County, Jiangxi Province, showcasing a model of green development that aligns with the "green mountains and clear waters are as valuable as mountains of gold and silver" philosophy [1][3]. Group 1: Ecological Protection - Tonggu County prioritizes ecological preservation as a key strategy for socio-economic development, focusing on building a life community among mountains, rivers, forests, fields, lakes, and grasslands [1]. - The county has achieved a forest coverage rate of 88.04%, establishing itself as the "ecological green heart" of the Yangtze River middle reaches [1]. Group 2: Urban Development - Over 200 million yuan has been invested in the construction of 932 new villages, creating 9 beautiful and livable demonstration towns and 50 demonstration villages [2]. - The county has implemented urban enhancement actions, improving urban functions and quality, and has built several parks to enhance green space [2]. Group 3: Innovative Mechanisms - Tonggu County is exploring mechanisms for realizing the value of ecological products, addressing challenges in measuring, trading, and monetizing ecological assets [3]. - An ecological product value realization support platform has been established, and various financial products have been introduced to facilitate the transformation of ecological resources into economic value [3]. Group 4: Economic Development - The county is developing a diversified ecological industrial system focusing on health, green food, and tourism, with a modern agricultural system that includes organic certification and significant production value [4]. - The county aims to create a national all-region tourism demonstration zone, enhancing its tourism offerings and successfully establishing several scenic areas [4].

聚焦新能源高端装备制造领域创新需求，东川税务分局精准落实西部大开发企业所得税优惠、研发费用 加计扣除等组合式税费支持政策。自2021年以来，累计为企业释放政策红利771万元，助力其N型IBC高 效太阳能电池及组件生产线完成LPCVD设备改造，同步推动电池量产效率突破25%、研发转换效率达 到26.08%，处于行业领先水平。资金活水有效转化为技术升级动能，为企业分布式光伏电站扩建及 AGV智能产线改造提供坚实保障，年产能规模稳步提升至600MW电池与200MW组件，产品远销意大 利、荷兰等"一带一路"共建国家。 针对光伏行业技术迭代快、政策适配要求高的特点，东川税务分局运用"线上答疑+实地走访"双服务机 制，开展"一对一"政策辅导。在西部大开发税收优惠政策适用目录、研发费用归集标准等关键节点，主 动对接企业需求，深度解析政策要点，帮助企业精准把握适用条件，及时防范涉税风险。通过引导企业 构建专业化税务管理团队，实现纳税申报、风险防控全链条规范化管理，助力企业依托合规体系优化财 务管理流程，成功获评青海省科学技术奖。 近年来，企业依托光伏产业技术创新中心、光伏工程技术创新中心等平台构建"高效电池研发——智能 产线 ...

2025 年 5 月 28 日投资者关系活动记录表 编号：2025-006 | | 特定对象调研 分析师会议 | | --- | --- | | 投资者关系活动 | 媒体采访 业绩说明会 | | 类别 | 新闻发布会 路演活动 | | | 现场参观 其他 | | 活动参与人员 | 中信证券 年资本市场论坛所邀请的投资者 2025 | | | 公司副总裁、董事会秘书 周钟山 | | | 公司品牌与公共关系部负责人 莫莉 | | 时 间 | 年 月 日 2025 5 28 15:30-16:30 | | 点 地 | 上海浦东香格里拉大酒店 | | 形 式 | 现场 | | | 1.可否简要介绍长城证券"十四五"指标完成情况，对于"十五五"发 展目标有何展望？ | | | 答："十四五"时期，公司始终坚持以习近平新时代中国特色社 | | | 会主义思想为指导，全面贯彻党的二十大和二十届二中、三中全会精 | | | 神，贯彻中央经济工作会议部署，牢记央企产业办金融的初心使命， | | | 围绕双碳产业链、科创金融港重点打造全新的"一链一圈"产业金融 | | 交流内容及具体 | 新模式，坚定朝着"创建精 ...

停牌8个交易日后，中成股份昨晚（000151.SZ）披露了发行股份购买资产的更多信息。公司股票今日复 牌后，高开低走，截至收盘涨4.12%，报14.9元。 根据预案，中成股份拟发行股份购买中技江苏清洁能源有限公司（以下简称"中技江苏"）100%股权， 并向不超过35名符合条件的特定对象募集配套资金。标的公司主营储能业务，在中成股份看来，交易完 成后有助于公司向绿色发展领域延伸，打造第二增长曲线。 在主营业务严重承压背景下，中成股份急需寻找新的增长点。然而当前储能行业厮杀已进入白热化，产 业链价格持续下跌，行业整体处于盈利低谷期。此时公司并购关联方储能资产，能否实现自救有待观 察。 拟注入控股股东旗下储能资产 就此次收购目的，中成股份表示，本次交易完成后，上市公司与标的公司将在储能项目建设及运营、客 户资源、 出海平台等方面形成积极的协同及互补关系，有助于上市公司向绿色发展领域延伸发展，打 造第二增长曲线。 值得注意的是，当前储能行业整体情况不容乐观。"内卷"可以说是2024年国内储能行业的真实写照，激 烈的竞争导致全产业链价格持续下跌。数据显示，2024年储能系统中标均价为628.07元/千瓦时，同比 下降4 ...

2025年5月28日，中共中央政治局委员、外交部长王毅在厦门会见来华出席第三次中国—太平洋岛国外 长会的纽埃总理兼外长塔格拉吉。王毅指出，双方要密切基础设施、绿色发展、气候变化等领域合作。 中方欢迎更多纽埃青年来华参访培训，鼓励更多中国民众赴纽埃旅游。中方对小岛屿国家在气变问题上 的特殊关切感同身受，愿同纽方一道维护共同但有区别的责任原则，携手构建公平合理、合作共赢的全 球气候治理体系。（外交部网站） ...

Core Insights - The article highlights the positive impressions of American students regarding China's innovative and resilient approach to technology and culture, particularly in the context of green development and traditional heritage [1][3][5]. Group 1: Hydrogen Energy - American students observed various hydrogen energy applications in China, including hydrogen fuel cell vehicles and kitchen equipment, noting the efficiency and rapid adoption of hydrogen technology [3][5]. - The importance of clean energy development and storage solutions is emphasized, especially in relation to emerging technologies like artificial intelligence [3][5]. Group 2: Cultural Exchange - The cultural exchange program organized by China University of Petroleum (Beijing) included activities that allowed American students to experience Chinese culture deeply, such as traditional glass-making techniques and local customs [3][5]. - Students expressed a desire to learn more about China’s history and culture, recognizing the growing significance of China on the international stage [5][6]. Group 3: Collaboration Opportunities - The article suggests that both China and the U.S. face common challenges such as green development and international trade, indicating potential areas for collaboration [3][5][6]. - The students' experiences reflect a shared understanding and appreciation of cultural differences, fostering a sense of unity among the younger generations of both countries [6].

Group 1: Company Overview - Sichuan Shui Jing Fang Co., Ltd. is actively participating in the transformation and upgrading of the Chinese liquor industry, showcasing a model for foreign investment in traditional industries [2] - The company is investing over 6.8 billion yuan in a full industrial chain base project in Qionglai, Chengdu, with the first phase already in production, achieving an annual capacity of 20,000 tons [2] - The Qionglai project is expected to create numerous local job opportunities and promote the development of upstream and downstream enterprises through localized collaboration [2] Group 2: Technological and Sustainable Development - Shui Jing Fang is collaborating with the Chinese Academy of Sciences to analyze the genetic map of its "No. 1 Microbial Group," bridging traditional brewing techniques with modern biotechnology [3] - The company is one of the first in the industry to systematically set and publish sustainable development goals, implementing green technologies such as solar power and wastewater recycling at its Qionglai base [3] - In 2024, Shui Jing Fang improved its MSCI ESG rating to BBB, reflecting its commitment to green procurement and sustainable supply chain transformation [3] Group 3: Market Position and Future Outlook - Diageo, the controlling shareholder of Shui Jing Fang, has been firmly rooted in the Chinese market, seizing development opportunities in the liquor sector [4] - The company aims to continue deepening its presence in the Chinese liquor market, contributing to the high-quality development of the industry [4]