Core Viewpoint - Jiangsu Sopo focuses on the acetic acid industry chain extension and new material development, emphasizing R&D in downstream derivatives and technological upgrades for cost reduction and efficiency improvement [1] Financial Performance - In 2024, Jiangsu Sopo achieved total revenue of 6.403 billion yuan, a year-on-year increase of 18.43% - The net profit attributable to shareholders reached 213 million yuan, a significant year-on-year growth of 1029.62% [1] - For the first quarter of 2025, the company reported revenue of 1.615 billion yuan, a year-on-year increase of 7.45%, and a net profit of 57.0843 million yuan, up 121.16% year-on-year [2] Production and Sales - In 2024, the production volume of acetic acid and its derivatives was 1.7044 million tons, an increase of 31.81% year-on-year, while sales volume reached 1.4886 million tons, up 33.41% year-on-year [1] - Methanol production increased by 64.94%, acetic acid production rose by 34.27%, and acetic ester production grew by 20.54% during the same period [1] Market Conditions - The acetic acid industry is experiencing significant growth in domestic PTA production, acetic acid ethylene production, and acetic acid exports, but faces increased competition and declining prices [1] - The decrease in raw material prices, such as coal, has positively impacted cost control for Jiangsu Sopo [2] Dividend Policy - Jiangsu Sopo plans to distribute a cash dividend of 0.5 yuan per 10 shares to all shareholders, with a cumulative dividend payout ratio exceeding 30% of net profits over the last three years [2] Future Outlook - The company aims to enhance operational performance through technological upgrades, project construction, and optimized management practices, while focusing on high-value-added product transformation [3]