1. Report Industry Investment Rating - Not provided 2. Core View of the Report - On January 16, new maintenance devices such as Guoneng Yulin LDPE were added, and the plastic operating rate dropped to around 85%, which is at a neutral level. The downstream operating rate of PE decreased by 0.28 percentage points to 40.93%, and orders for agricultural films continued to decline. The overall downstream operating rate of PE is at a low level in the same period in recent years. The petrochemical inventory is at a low level in the same period in recent years. The cost of crude oil has fallen due to the easing of the situation in Iran. There has been new plastic production capacity put into operation recently, and the operating rate is higher than that of PP. The plastic supply - demand pattern has limited improvement, and it is expected to fluctuate in a range in the near future. The L - PP spread is expected to narrow [1]. 3. Summary by Relevant Catalogs 3.1 Market Analysis - New maintenance devices such as Guoneng Yulin LDPE were added on January 16, and the plastic operating rate dropped to around 85%. The downstream operating rate of PE decreased by 0.28 percentage points to 40.93%. Agricultural film orders continued to decline, and packaging film orders decreased slightly. After the New Year's Day, petrochemical inventory reduction was good, and the current inventory is at a low level in the same period in recent years. The situation in Iran has cooled down, and the crude oil price has fallen. There has been new plastic production capacity put into operation recently. The plastic supply - demand pattern has limited improvement, and it is expected to fluctuate in a range. The L - PP spread is expected to narrow [1]. 3.2 Futures and Spot Market Conditions - **Futures**: The plastic 2605 contract increased positions and fluctuated downward, closing at 6695 yuan/ton, a decrease of 1.78%. The trading volume was between 6685 - 6857 yuan/ton, and the open interest increased by 3981 lots to 471487 lots [2]. - **Spot**: The PE spot market mostly declined, with the range of increase or decrease between - 150 to +0 yuan/ton. LLDPE was reported at 6650 - 6970 yuan/ton, LDPE at 8900 - 9210 yuan/ton, and HDPE at 6870 - 8290 yuan/ton [3]. 3.3 Fundamental Tracking - **Supply**: On January 16, new maintenance devices such as Guoneng Yulin LDPE were added, and the plastic operating rate dropped to around 85%, which is at a neutral level [1][4]. - **Demand**: As of the week of January 16, the downstream operating rate of PE decreased by 0.28 percentage points to 40.93%. Agricultural film orders continued to decline, and the overall downstream operating rate of PE is at a low level in the same period in recent years [1][4]. - **Inventory**: The petrochemical early inventory on Friday decreased by 40,000 tons to 490,000 tons, 15,000 tons lower than the same period last year. The inventory reduction after the New Year's Day was good, and the current inventory is at a low level in the same period in recent years [4]. - **Raw Materials**: The Brent crude oil 03 contract fell below $64/barrel. The price of Northeast Asian ethylene remained flat at $725/ton, and the price of Southeast Asian ethylene remained flat at $745/ton [4].

Report Industry Investment Rating - Not provided in the content Core Viewpoints Polyester Sector - In the short - term, the supply - demand outlook for the polyester sector has worsened. PX and PTA should be treated with an adjustment mindset, and attention should be paid to the risk of crude oil price fluctuations due to unstable geopolitical situations. The sector lacks fundamental support and will follow the general trend of commodities, fluctuating in a low - level range. - In the long - term, the polyester sector will show a differentiated trend. With supply expected to remain relatively tight, the operating centers of PX and PTA will tend to move up. Due to increasing supply pressure, ethylene glycol will perform relatively weakly. [30] Methanol - In the short - term, affected by the geopolitical situation in Iran, the price fluctuations of methanol have increased, maintaining a wide - range oscillation pattern. Methanol is in a deep game between strong expectations and weak reality, with limited upward space and potential for a slight adjustment. - In the long - term, the import volume of methanol is expected to decrease in February, but demand recovery is weak. Methanol will likely continue to oscillate widely until there is obvious recovery momentum in demand. [58] Plastic - In the short - term, the supply - demand situation of plastic has marginally improved this week, and the price has continued to rebound due to strong macro - sentiment. However, as geopolitical concerns ease, the cost - side support weakens, and plastic may return to fundamental operation, with a possible weak and oscillatory trend. - In the long - term, the supply pressure of plastic is unlikely to decrease due to new capacity releases, and overall demand is in the off - season. Plastic is expected to continue its weak trend. [59] Summary by Relevant Catalogs Macro and Crude Oil Important Information - Iran's short - term possibility of blocking the Strait of Hormuz has significantly decreased, and the risk premium has been quickly squeezed out. The US has imposed sanctions on multiple Iranian individuals, entities, and foreign companies associated with Iran. The US has completed the first - batch sale of Venezuelan crude oil as part of a $2 billion deal, and plans to continue selling Venezuelan crude oil indefinitely. [3] - The EIA has slightly revised up its future oil - price forecast, expecting the average price of WTI crude oil in 2026 to reach $52.21 per barrel, and maintaining the 2027 forecast at $50.36. US crude - oil production is expected to decline from a peak of 13.61 million barrels per day in 2025 to 13.59 million barrels per day in 2026 and 13.25 million barrels per day in 2027. The rebound in Venezuelan crude - oil production may exacerbate market oversupply. [4] - As of the week ending January 9, 2026, US commercial crude - oil inventories increased by 3.39 million barrels to 422.447 million barrels. The US refinery operating rate was 95.3%, up 0.6 percentage points from the previous week, while gasoline inventories surged by 8.977 million barrels to 251.013 million barrels. [4] Polyester Sector Spot and Futures Price Trends - Futures prices: WTI crude oil continuous increased by 0.03%, PX603 decreased by 0.53%, TA605 decreased by 0.75%, EG605 decreased by 0.75%, PF602 decreased by 1.21%, and PR603 decreased by 0.03%. - Spot prices: Naphtha increased by 2.87%, PX CFR: Taiwan decreased by 0.68%, PTA spot benchmark price decreased by 0.49%, ethylene glycol East China mainstream price decreased by 0.57%, polyester staple fiber East China mainstream price decreased by 0.84%, and polyester bottle - chip East China mainstream price increased by 0.50%. - Basis: PX basis decreased by 10.64 yuan/ton, PTA basis increased by 13 yuan/ton, ethylene glycol basis increased by 8 yuan/ton, short - fiber basis increased by 23 yuan/ton, and polyester bottle - chip basis increased by 32 yuan/ton. - Polyester filament prices: POY150D/48F increased by 2.29%, FDY150D/96F increased by 1.47%, and DTY150D/48F increased by 1.29%. [6] Supply and Demand Analysis of Polyester Sector PX - Last week, the restart of Fujia Dahua's 1 - million - ton PX plant increased supply. As of January 15, the domestic weekly average PX capacity utilization rate was 91.95%, up 2.83 percentage points, and the PX output was 760,600 tons, up 1.46%. - South Korea's GSCX Line 3's 550,000 - ton PX plant has restarted, and Asia's PX load has slightly rebounded. As of January 15, Asia's weekly average PX capacity utilization rate was 79.84%, up 0.66%. - There are no planned plant changes next week, and domestic PX supply is expected to remain stable. [12] PTA - During the week, Yisheng New Materials shut down for maintenance, and Xin Fengming restarted. As of January 15, the domestic PTA weekly capacity utilization rate was 77.22%, down 0.19 percentage points, and the weekly output was 1.4504 million tons, down 1,800 tons. - This week, the pace of PTA social inventory reduction has slowed. As of January 15, PTA in - plant inventory days were 3.62 days (+0.02 days), polyester factory PTA inventory was 7.5 days (+0 days), and PTA social inventory was about 2.8674 million tons (-16,800 tons). - There are maintenance plans for plants in South China next week, and domestic supply is expected to decline slightly. [15][16] Ethylene Glycol - This week, Yongcheng Yongjin restarted, and some plants increased their loads, while Sinopec Sichuan Petrochemical had a short - term shutdown, and some plants decreased their loads. As of January 15, the domestic weekly average ethylene glycol capacity utilization rate was 62.69% (-0.37 percentage points), with the integrated plant capacity utilization rate at 62.51% (-1.14 percentage points) and the coal - based ethylene glycol capacity utilization rate at 62.98% (+0.89 percentage points); the weekly output was 395,600 tons (-2,300 tons). Sinopec Sichuan Petrochemical will undergo maintenance next week, and domestic supply will decrease. - This week, port inventories increased. As of January 15, the total inventory at East China ports was 728,000 tons, down 9,000 tons from Monday and up 38,000 tons from last Thursday. Although the arrival of imported goods will decrease next week, considering the decline in shipments, port inventories are expected to increase slightly. [17] Polyester End - The weekly capacity utilization rate of the polyester end decreased by 0.5 percentage points to 86.7%. [18] Polyester Inventory - This week, the inventory of short - fiber and long - fiber polyester decreased slightly. [22] Terminal - As of January 15, the operating rate of Jiangsu and Zhejiang looms was 54.94% (-2.95 percentage points), the order days of Chinese weaving sample enterprises were 7.73 days (-0.95 days), and the坯布 inventory days were 28.27 days (+0.7 days). [27] Methanol and Polyolefin Spot and Futures Price Trends - Futures: MA2605 decreased by 1.50%, MA basis increased by 54.84%, L2605 increased by 0.31%, and L basis increased by 158.51%. - Methanol prices: Methanol (Taicang) increased by 0.40%, and methanol CFR increased by 0.65%. - Plastic prices: LLDPE increased by 2.58%, HDPE increased by 2.88%, and LDPE increased by 2.22%. [33] Supply and Demand Analysis of Methanol Supply Side - As of January 15, the domestic methanol operating rate was 91.11%, down 0.31 percentage points, and the output was 2.0353 million tons, down 6,990 tons (0.34%) from the previous period. - This week, Xinxiang Zhongxin's plant was under maintenance, with a loss of 300,000 tons/year of production capacity, and Inner Mongolia Jiuding's plant resumed operation, with a recovery of 100,000 tons/year of production capacity. - There are still some maintenance plans next week, and the operating rate is expected to continue to decline slightly. [40] Demand Side - As of January 15, the MTO operating rate decreased by 2.29 percentage points to 85.77%. Ningbo Fude continued to be shut down, and Zhejiang Xingxing shut down on January 12 due to economic pressure. Sierbang has a maintenance plan in February, and the support for coastal olefins is weakening. Other traditional downstream sectors are in the off - season, and although there is a slight increase in plant restarts, there is no obvious positive news. Olefins may continue to weaken in the next period. [43] Inventory - As of January 14, port inventories were 1.4353 million tons, down 101,900 tons (6.63%) from the previous period, and inland inventories were 450,900 tons, up 3,270 tons (0.73%). - The overall unloading volume this period was not large, and port inventories decreased. Although coastal olefins in Zhejiang weakened due to plant shutdowns, inventories also decreased significantly due to less unloading. However, this inventory reduction was mainly driven by unloading volume, and there was no obvious positive news on the demand side. There is still a large risk of inventory accumulation in the next period, and the turning point for effective inventory reduction has not yet arrived. Inland inventories are higher than in previous years due to high operating pressure and seasonal weakening of demand, and there is still pressure to reduce inventories. [46] Supply and Demand Analysis of Plastic Supply Side - As of January 15, the domestic plastic operating rate was 81.6%, down 2.07 percentage points, and the output was 669,800 tons, down 17,000 tons (2.47%) from the previous period. - This week, plants such as Guangdong Petrochemical and Dushanzi Petrochemical were under maintenance, with a total loss of about 480,000 tons/year of production capacity, and plants such as Yangzi Petrochemical and Dushanzi Petrochemical resumed operation, with a total recovery of about 280,000 tons/year of production capacity. - Next week, there are many plants resuming operation, with a total recovery of about 1.5 million tons/year of production capacity, and the operating rate is expected to increase. [49] Demand Side - As of January 15, the downstream plastic operating rate was 40.93%, down 0.28 percentage points. The agricultural film sector continued to weaken seasonally, with the operating rate continuing to decline (-0.91%), and the packaging film sector was slightly boosted by post - holiday replenishment demand, but order follow - up was weakening. [54] Inventory - As of January 13, social inventories were 484,300 tons, down 500 tons (0.1%) from the previous period, and two - oil enterprise inventories were 302,000 tons, down 23,000 tons (7.08%). - This period, the macro - news was positive, market sentiment was strong, and prices continued to rise. However, after the downstream had completed phased inventory replenishment, the trading atmosphere was stalemate. Two - oil enterprises successfully reduced inventories, but overall inventories fluctuated little. [57]

Core Viewpoint - The company Xinhan New Materials (301076) plans to acquire 51% of the equity of Hai Rui Te Engineering Plastics Co., Ltd. for 12.8826 million yuan, enhancing its position in the PAEK specialty engineering plastics sector [1][3]. Company Summary - Hai Rui Te was established in July 2013 with a registered capital of 68 million yuan, focusing on the synthesis and modification of PEEK and PAEK specialty resins, with an industrial production capacity exceeding 200 tons per year [2]. - The company is currently operating at a loss, with projected revenues of 4.7835 million yuan and a net loss of 10.7952 million yuan for 2024, improving to revenues of 7.5756 million yuan and a reduced net loss of 5.1886 million yuan for the first eight months of 2025 [3]. - Post-acquisition, Xinhan New Materials will hold 51% of Hai Rui Te, significantly altering the ownership structure and reducing the original major shareholder's stake from 62.2493% to 32.5303% [3]. Industry Summary - The global PEEK materials market is projected to grow from approximately 589 million USD in 2024 to 934 million USD by 2031, with a compound annual growth rate (CAGR) of 7.0% from 2025 to 2031, and an even higher growth rate of 19.5% expected in the Chinese market from 2023 to 2028 [4]. - Domestic companies are rapidly expanding capacity and innovating technology, with notable investments such as Guo En Co., Ltd. planning to invest 960 million yuan to build a full industrial chain platform for PEEK materials [5]. - The industry faces challenges such as high costs and monopolistic practices by foreign giants, necessitating domestic companies to optimize processes and enhance brand and technical services to reduce reliance on imports [5].

Market Overview - The plastic sector increased by 0.54% compared to the previous trading day, with Bofei Electric leading the gains [1] - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1] Top Gainers in the Plastic Sector - Bofei Electric (001255) closed at 55.21, up 10.00% with a trading volume of 25,500 lots and a transaction value of 138 million [1] - Jun Ding Da (301538) closed at 91.61, up 6.55% with a trading volume of 51,700 lots [1] - Qi De New Materials (300995) closed at 42.50, up 5.28% with a trading volume of 69,300 lots [1] - Other notable gainers include Zhongyan Co. (688716), Henghe Precision (300539), and Sidi Ke (300806) with respective increases of 4.92%, 4.83%, and 4.05% [1] Top Losers in the Plastic Sector - Shen Jian Co. (002361) closed at 14.68, down 9.99% with a trading volume of 54,200 lots [2] - He Shun Technology (301237) closed at 68.60, down 5.54% with a trading volume of 42,200 lots [2] - Guo Feng New Materials (000859) closed at 12.11, down 5.32% with a trading volume of 1,091,700 lots [2] - Other significant declines were seen in Mei Lian New Materials (300586) and Ningbo Color Master (301019) with decreases of 3.54% and 3.50% respectively [2] Capital Flow in the Plastic Sector - The plastic sector saw a net inflow of 93.99 million from institutional investors, while retail investors experienced a net outflow of 216 million [2][3] - Notable net inflows from institutional investors included Jinfa Technology (600143) with 31.1 million and Fule New Materials (605488) with 11 million [3] - Conversely, significant net outflows from retail investors were observed in Sidi Ke (300806) with 76.81 million and Henghe Precision (300539) with 32.16 million [3]

Group 1 - The core viewpoint of the article is that Daishilu Co., Ltd. is undergoing a restructuring process involving the spin-off of its subsidiary, Polyplastics, which will be renamed HPP Holdings Co., Ltd. This restructuring is part of a strategic plan to build a new Daishilu and enhance its operational efficiency in the high-performance polymer sector [1][2]. Group 2 - The restructuring plan includes the division of Polyplastics' business into two main segments: engineering plastics and the management of subsidiary shares [1]. - Daishilu will fully take over the engineering plastics business, including technology patents, production bases, customer resources, and sales teams, which will be operated as the "High-Performance Polymer Division" [1]. - The restructuring is based on the collaborative development achieved between Daishilu and Polyplastics since 2020, which has established a global supply chain covering Asia and Europe [2]. Group 3 - The article mentions upcoming production milestones, including the commercialization of polyoxymethylene (POM) in November 2024 and the launch of a liquid crystal polymer (LCP) plant in Taiwan in February 2025 [2]. - A new COC (cyclic olefin copolymer) plant in Germany is scheduled to commence production in April 2026 [2]. Group 4 - The "2026 Advanced Nylon Industry Innovation and Application Development Conference" will be held on March 19-20, 2026, in Guangzhou, focusing on technological innovation, application development, cost reduction, and market expansion in the nylon industry [2]. - The conference aims to gather leading companies, experts, and end-users from the industry to explore high-quality development paths [2]. Group 5 - The conference will feature over 300 participants from domestic and international nylon enterprises, with more than 20 experts sharing insights on industry innovation [3]. - Special activities will include a terminal supply-demand exchange meeting and a visit to Xiaopeng Motors [5][6].

Report Industry Investment Rating - Not provided Core Viewpoints - PP is expected to move in a volatile manner with limited upside potential due to limited improvement in the supply - demand pattern and shortened downstream order cycles, and the L - PP spread is expected to decline [1] Summary by Relevant Catalogs Market Analysis - As of the week ending January 9, after the New Year's Day holiday, the downstream PP operating rate decreased by 0.10 percentage points to 52.6% week - on - week, at a relatively low level in the same period over the years. The operating rate of the main downstream plastic weaving for drawstring decreased by 0.22 percentage points to 42.92% week - on - week, and plastic weaving orders continued to decline slightly, slightly lower than the same period last year [1][4] - On January 15, there were few changes in the overhauled units, and the PP enterprise operating rate remained at around 81%, at a moderately low level, and the production ratio of standard drawstring decreased to around 24.5% [1][4] - The inventory accumulation during the New Year's Day this year was not significant, and the current petrochemical inventory is at a neutral level in the same period in recent years [1][4] - Due to the escalating turmoil in Iran, Trump's threat to interfere, the lack of progress in Russia - Ukraine negotiations, and the sanction bill on Russia, the crude oil price rebounded slightly. There is new production capacity of 400,000 tons/year from PetroChina Guangxi Petrochemical put into operation in mid - October, and the number of overhauled units has slightly decreased recently [1] - The price of downstream BOPP film rebounded, but with the approaching Spring Festival holiday, new orders for downstream plastic weaving are limited. The macro - environment is positive, but the improvement in the PP supply - demand pattern is limited [1] Futures and Spot Market Conditions - Futures: The PP2605 contract increased in position and moved in a volatile manner, with a low of 6552 yuan/ton, a high of 6664 yuan/ton, and finally closed at 6592 yuan/ton, above the 20 - day moving average, up 0.24%. The open interest increased by 7306 lots to 491,662 lots [2] - Spot: Most of the PP spot prices in various regions were stable. The drawstring was quoted at 6180 - 6680 yuan/ton [3] Fundamental Tracking - Supply: On January 15, there were few changes in the overhauled units, and the PP enterprise operating rate remained at around 81%, at a moderately low level, and the production ratio of standard drawstring decreased to around 24.5% [1][4] - Demand: As of the week ending January 9, after the New Year's Day holiday, the downstream PP operating rate decreased by 0.10 percentage points to 52.6% week - on - week, at a relatively low level in the same period over the years. The operating rate of the main downstream plastic weaving for drawstring decreased by 0.22 percentage points to 42.92% week - on - week, and plastic weaving orders continued to decline slightly, slightly lower than the same period last year [1][4] - Inventory: On Thursday, the petrochemical morning inventory decreased by 30,000 tons to 530,000 tons week - on - week, 5,000 tons higher than the same period last year. The inventory accumulation during the New Year's Day this year was not significant, and the current petrochemical inventory is at a neutral level in the same period in recent years [4] Raw Material End - The Brent crude oil 03 contract fell below $65 per barrel, and the CFR propylene price in China remained flat week - on - week at $750 per ton [6]

Market Overview - The plastic sector experienced a decline of 0.3% on January 15, with Shenjian Co. leading the drop [1] - The Shanghai Composite Index closed at 4112.6, down 0.33%, while the Shenzhen Component Index closed at 14306.73, up 0.41% [1] Stock Performance - Notable gainers in the plastic sector included: - Dongcai Technology (601208) with a closing price of 28.71, up 10.00% [1] - Bofei Electric (001255) at 50.19, up 9.99% [1] - Heshun Technology (301237) at 72.62, up 8.26% [1] - Major decliners included: - Shenjian Co. (002361) at 16.31, down 9.99% [2] - Shangwei New Materials (688585) at 147.70, down 8.41% [2] - Nair Co. (002825) at 10.79, down 4.51% [2] Capital Flow - The plastic sector saw a net outflow of 235 million yuan from main funds, while retail investors contributed a net inflow of 216 million yuan [2] - The detailed capital flow for selected stocks showed: - Dongcai Technology had a main fund net inflow of 397 million yuan [3] - Bofei Electric experienced a main fund net inflow of 49.01 million yuan [3] - Shenjian Co. had a significant outflow of 299 million yuan from main funds [3]

Group 1 - The stock price of Guofeng New Materials decreased by 2.67% on January 15, reaching 12.05 yuan per share, with a trading volume of 1.47 billion yuan and a turnover rate of 1.36%, resulting in a total market capitalization of 10.797 billion yuan [1] - Year-to-date, the stock price has increased by 19.07%, but it has dropped by 6.81% in the last five trading days, increased by 19.90% over the last 20 days, and surged by 86.24% over the last 60 days [1] - The company specializes in the production and sales of plastic films, other plastic products, non-metallic new materials, and metal products (excluding non-ferrous metals), with its main business revenue composition being 62.79% from film materials, 16.28% from new energy vehicle supporting materials, 15.55% from others, and 5.38% from new wood-plastic materials [1] Group 2 - As of September 30, the number of shareholders of Guofeng New Materials was 56,100, a decrease of 21.33% from the previous period, with an average of 15,981 circulating shares per person, an increase of 27.12% [2] - For the period from January to September 2025, the company achieved an operating income of 1.592 billion yuan, a year-on-year decrease of 3.53%, while the net profit attributable to the parent company was -65.6043 million yuan, a year-on-year increase of 14.23% [2] - The company has distributed a total of 200 million yuan in dividends since its A-share listing, with cumulative distributions of 17.9195 million yuan over the past three years [3]

Report Investment Rating - No information provided on the industry investment rating Core Viewpoints - The plastic market is expected to have limited upside in the near term due to limited improvement in the supply - demand pattern, despite a warm macro - atmosphere [1] - The L - PP spread is expected to decline as there are new plastic production capacities coming on stream, the plastic operating rate is higher than that of PP, and the peak season for agricultural films is gradually ending [1] Summary by Directory Market Analysis - On January 14th, the restart of maintenance devices such as Fujian United's full - density line 2 increased the plastic operating rate to around 86%, which is at a neutral level [1][4] - As of the week of January 9th, after the New Year's Day holiday, the downstream operating rate of PE increased by 0.06 percentage points to 41.21% on a month - on - month basis. Agricultural film is gradually exiting the peak season, with orders continuing to decline and raw material inventory also decreasing. Packaging film orders increased slightly, but the overall downstream operating rate of PE is still at a relatively low level in recent years [1][4] - The inventory build - up during New Year's Day this year was not significant, and the petrochemical inventory is currently at a neutral level in recent years [1][4] - Due to the ongoing escalation of riots in Iran, Trump's threat to interfere, the lack of progress in Russia - Ukraine negotiations, and the passage of a sanctions bill against Russia, the crude oil price rebounded slightly [1] - New production capacities of 500,000 tons/year of ExxonMobil (Huizhou) LDPE, 700,000 tons/year of PetroChina Guangxi Petrochemical, and 500,000 tons/year of BASF (Guangdong) have been put into production recently [1] - As the temperature drops, terminal construction slows down, and demand in the north decreases. The production of northern greenhouse films has basically stopped, and the price of agricultural films has stabilized after a decline. Some industries are entering the off - season, and the downstream operating rate is expected to decline. Pre - holiday stocking is limited due to the approaching Spring Festival [1] - In December, China's manufacturing PMI, non - manufacturing business activity index, and composite PMI output index all rose to the expansion range. The Ministry of Finance has pre - allocated the quotas for trade - in and "two important" projects in 2026, creating a warm macro - atmosphere that boosts market sentiment [1] Futures and Spot Market Conditions - The plastic 2605 contract reduced positions and fluctuated upward, with a minimum price of 6,786 yuan/ton, a maximum price of 6,866 yuan/ton, and a final closing price of 6,820 yuan/ton, above the 60 - day moving average, with a gain of 1.26%. The position decreased by 10,862 lots to 466,526 lots [2] - Most of the PE spot market prices rose, with price changes ranging from - 0 to + 150 yuan/ton. LLDPE was reported at 6,720 - 6,920 yuan/ton, LDPE at 9,100 - 9,360 yuan/ton, and HDPE at 6,870 - 8,440 yuan/ton [3] Fundamental Tracking - The plastic operating rate rose to around 86% due to the restart of maintenance devices, which is at a neutral level [4] - The downstream operating rate of PE increased by 0.06 percentage points to 41.21% on a month - on - month basis. Agricultural film orders continued to decline and were at a neutral level in recent years, while packaging film orders increased slightly. The overall downstream operating rate of PE was still at a relatively low level in recent years [4] - The petrochemical early inventory on Wednesday decreased by 30,000 tons to 560,000 tons compared to the previous day, which is the same as the same period last year [4] - The Brent crude oil 03 contract rose to $65/barrel, and the ethylene prices in Northeast Asia and Southeast Asia remained flat at $725/ton and $745/ton respectively [4]

Core Viewpoint - Kaisheng New Materials has highlighted its PEKK product as a high-performance thermoplastic engineering plastic with exceptional mechanical properties and various applications in aerospace [1] Group 1: Product Characteristics - The PEKK product exhibits excellent mechanical performance, wear resistance, corrosion resistance, self-lubrication, insulation stability, and high-temperature usage [1] Group 2: Applications - PEKK can be utilized in the structural components and auxiliary parts of aircraft and satellites [1]