Core Viewpoint - A block trade of 133,800 shares of Ruihua Technology (920099) occurred on November 17, with a transaction value of 4.1906 million yuan, indicating a slight premium over the closing price of the day [2] Summary by Category Trading Activity - The block trade had a transaction volume of 133,800 shares and a transaction price of 31.31 yuan, which is a 0.03% premium relative to the closing price of 31.30 yuan [2] - The buyer was Huatai Securities Co., Ltd. from the Shanghai Gonghe New Road Securities Business Department, while the seller was Caixin Securities Co., Ltd. from the Hangzhou Qingchun Road Securities Business Department [2] Stock Performance - On the same day, Ruihua Technology's stock closed at 31.30 yuan, down 0.86%, with a daily turnover rate of 2.20% and a total transaction amount of 27.0294 million yuan [2] - Over the past five days, the stock has experienced a cumulative decline of 0.95% [2] Company Background - Changzhou Ruihua Chemical Engineering Technology Co., Ltd. was established on April 24, 2007, with a registered capital of 783.99998 million yuan [2]

Group 1: Core Competitiveness - The company has developed multiple core technologies through years of independent research, including styrene, POSM, maleic anhydride, polystyrene, and methyl styrene, which have been successfully implemented for technology licensing [4] - The integrated technical capability as a complete solution provider reduces overall costs for clients and enhances collaboration [4] - Continuous upgrades and iterations of technology ensure a strong relative competitive position in the market [4] Group 2: Response to Macroeconomic Changes - The company is focusing on domestic market development while actively expanding into overseas markets to mitigate the impact of macroeconomic changes [5] - Participation in exhibitions has increased the company's influence and recognition abroad, with successful deliveries of polystyrene process packages and initial equipment to overseas clients [5] - Ongoing R&D investments and the development of new technologies and processes, such as the PI project, are beneficial for expanding business segments [5] Group 3: Project Progress - The 12,000 tons/year catalyst project was completed and passed acceptance inspection in June 2025, with trial production currently underway by the wholly-owned subsidiary [6]

Group 1: Investor Relations Activity Overview - The investor relations activity was an earnings briefing held on May 16, 2025, from 15:00 to 16:30 [3] - The event took place on the "Investor Relations Interactive Platform" [3] - Key attendees included the Chairman, CFO, and other senior executives of the company [3] Group 2: Key Topics Discussed - The earnings briefing included a video interpretation of the annual report and an overview of the company's 2024 operational performance [4] - The catalyst project is expected to commence production in June 2025, with initial revenue and profit gradually increasing [5] - The company is actively monitoring the market for biodegradable plastics due to low demand and will disclose relevant updates [5] Group 3: Market Expansion and Future Projects - The company is expanding its overseas market presence, with ongoing orders from Russia and the Middle East [5] - A new production project in Shandong is planned with a capacity of 200,000 tons/year for PS, SAN, ASA, and MS, which has completed necessary approvals [6] - The company aims to become a globally competitive entity in the petrochemical technology sector through continuous innovation and international exploration [6] Group 4: Profitability and Stock Management - The company is implementing measures to maintain high gross margins on its process packages, including quality improvement and cost optimization [8] - The Chairman has consistently increased his stock holdings, totaling 457,735 shares as of April 30, 2025, indicating confidence in the company's potential [8]