Financial Performance - The company's net profit attributable to shareholders decreased by 89.15% year-on-year in the first half of 2025, attributed to internal management improvements and external market opportunities [2] - Significant reductions in processing costs and improved production indicators were achieved through technological innovation and equipment upgrades [2][3] - The average price of Argus FOB ARA low-congealing bio-diesel increased by 13.06% year-on-year, indicating a positive trend in bioenergy product pricing [3] Market Dynamics - SAF prices have been rising, with Argus FOB ARA prices reaching approximately $2,600 per ton due to enforced blending policies and rising raw material costs [4] - The EU has introduced subsidy plans to accelerate SAF adoption, which is expected to enhance demand and further drive price increases [4] Research and Development - The company aims to enhance production efficiency through practical innovation, focusing on raw material pre-treatment, catalyst development, and product diversification [5] - Collaboration with external universities and research institutions is emphasized to foster joint research and technology introduction [5] Future Development Strategy - The company plans to become a world-class green energy supplier and a leader in bioenergy technology innovation over the next three years [6] - Key strategic initiatives include enhancing bioenergy growth, improving catalyst purification product competitiveness, and maintaining high R&D investment levels [6] Bioenergy Sector Focus - The company is concentrating on the development and market promotion of biodiesel and bio-jet fuel, with a focus on process optimization and key customer development [6] - Efforts are being made to implement second-generation bioenergy applications domestically, contributing to national energy security and emissions reduction [6]

Core Viewpoint - The company is focused on the bioenergy, catalytic purification materials, and specialty chemicals industries, with significant developments and challenges in each sector, particularly in biofuels and catalysts, driven by regulatory changes and market dynamics [5][10]. Group 1: Bioenergy Industry - The company's bioenergy business includes the production and sales of hydrocarbon-based biodiesel (HVO) and sustainable aviation fuel (SAF), which are closely linked to global decarbonization goals [5][6]. - The EU's Renewable Energy Directive (RED III) has increased the renewable energy target for 2030 from 21.78% to 45%, which is expected to boost biodiesel demand in Europe [6][7]. - The company is actively exploring non-EU markets due to the EU's anti-dumping measures affecting biodiesel exports, while SAF remains a key investment focus as it is not subject to these measures [6][8]. - The company has a biodiesel production capacity of 50,000 tons and is expanding its product structure to enhance competitiveness in various markets, including Japan and South Korea [8]. Group 2: Catalytic Purification Industry - The catalytic purification sector serves the petrochemical and coal chemical industries, with catalysts being essential for refining and chemical processes [9][10]. - The demand for catalysts is increasing due to the transition towards chemical production and the growth of modern coal chemical projects, as outlined in government plans [10][11]. - The company has over 20 years of experience in catalyst and purification agent development, holding a competitive edge in technology and market presence [12]. Group 3: Specialty Chemicals Industry - The specialty chemicals segment includes products like neopentyl glycol and LNG, with the latter playing a crucial role in clean energy transition [13][14]. - The domestic neopentyl glycol market is experiencing rapid capacity expansion, but demand growth is slowing due to macroeconomic factors, leading to increased industry pressure [13]. - LNG is becoming more abundant in China, with significant increases in import volumes and domestic production, although profitability is being squeezed by rising costs [14].