刚刚过去的一年，德国特殊化学品公司朗盛在创新和可持续方面继续发力，中国市场业务稳步推进。展 望2026年，朗盛大中华区总裁罗高名(Michael Rockel)表示，朗盛将继续深耕中国，坚持"本土生产、服 务本土"的战略主轴，强化本土创新能力与产业协同，为中国化工行业的发展注入非凡活力。 罗高名介绍说，朗盛独立运营已有20年，但在中国的业务渊源可追溯至拜耳时期，已超过百年历史。公 司始终坚持扎根中国、服务中国理念，深度参与并见证中国化工行业的快速发展。从房屋阻燃剂、汽车 轮胎添加剂，到用于国产大飞机C919的润滑油，朗盛始终以技术研发和绿色创新解决方案持续赋能消 费者保护、特殊添加剂和高品质中间体三大核心业务板块。 他表示，随着中国市场需求结构优化，以及新能源、智能制造等领域对特种化学品提出更高要求，朗盛 也迎来了新的发展机遇。过去一年，朗盛持续提升本土研发实力和供应链协同效应，其位于上海的亚太 应用开发中心(AADC)实现全球专利突破，研发出的全球首款混合PU-CSC润滑脂已在钢铁、电动汽车等 关键领域投入应用;荣获亿纬锂能（300014）2025年"卓越合作伙伴"以及上海电气（601727）2025年 度 ...

在生产端，朗盛于2025年11月完成了青岛工厂的扩产升级。这一举措充分体现了朗盛的长期承诺：以更 高效、更灵活的方式支持本土市场和客户需求。无论是在产能保障、供应链协同，还是快速响应客户项 目方面，朗盛都致力于为中国市场提供全方位、可靠的服务。 在时代激流中向新致远。展望2026年，罗高名充满信心和期待。他表示，朗盛将继续以技术创新和可持 续发展为战略核心，深化对中国市场的长期承诺。公司将进一步强化本土研发实力，并在多个具有成长 潜力的重点领域与产业链伙伴深化合作，特别是在个护与家护、电子电气、半导体及电池化学品等方 向，支持行业升级与客户价值提升。同时，朗盛将推动内部协作与市场联动，把对中国市场的洞察更高 效地转化为可落地的产品与服务，以更敏捷的步伐响应行业发展趋势。 他表示，随着中国市场需求结构优化，以及新能源、智能制造等领域对特种化学品提出更高要求，朗盛 也迎来了新的发展机遇。过去一年，朗盛持续提升本土研发实力和供应链协同效应，其位于上海的亚太 应用开发中心(AADC)实现全球专利突破，研发出的全球首款混合PU-CSC润滑脂已在钢铁、电动汽车等 关键领域投入应用;荣获亿纬锂能2025年"卓越合作伙伴"以 ...

Core Viewpoint - The article discusses the evolving strategies of multinational companies in China, highlighting their deep integration into local markets and communities, as well as the shift from mere manufacturing to a comprehensive value chain presence [3][5]. Group 1: Investment Trends - In 2025, the number of newly established foreign-invested enterprises in China increased by 19.1%, while the actual use of foreign capital decreased by 9.5%, indicating a complex investment landscape [3]. - German companies' investment in China reached over 7 billion euros in the first eleven months of 2025, marking a 55.5% increase compared to the same period in 2024 and 2023 [3][8]. - The Chinese manufacturing sector's negative list for foreign investment has been fully cleared, enhancing the market's attractiveness to foreign capital, particularly in advanced manufacturing and modern service industries [9]. Group 2: Corporate Strategies - Companies like Epson are adapting to local needs by developing tailored solutions, such as AI learning assistants and customized industrial robots, to address specific market demands [7][8]. - Hitachi Elevator has established its largest factory and R&D team in China, focusing on modernization and energy-efficient technologies in response to the urban renewal wave [8]. - Karcher has upgraded its Shanghai headquarters and expanded production capacity, achieving a 30% growth in early 2025, emphasizing the importance of understanding local market dynamics [11]. Group 3: Innovation and Market Adaptation - Companies are increasingly focusing on creating value through innovation, transitioning from raw material dependency to high-value specialty chemicals, as seen with Lanxess's investment in Qingdao [12]. - The trend indicates that the Chinese market is becoming a key driver of global technological innovation and business model evolution, necessitating deeper commitments from companies to integrate with local ecosystems [12].

Group 1 - The core point of the article is that Zhejiang Longsheng has announced its external guarantees, which total approximately RMB 8.352 billion, accounting for 24.36% of the company's audited net assets attributable to the parent company as of the end of 2024 [1] - As of June 2025, the revenue composition of Zhejiang Longsheng is as follows: specialty chemicals account for 86.3%, basic chemicals account for 5.08%, real estate business accounts for 3.48%, other industries account for 1.88%, and automotive parts account for 1.23% [1] - The current market capitalization of Zhejiang Longsheng is RMB 35 billion [1]

Group 1 - The core point of the article is that Fulaient (SH 605566) announced the convening of its 14th meeting of the second board of directors on November 21, 2025, to discuss the proposal to cancel the supervisory board and amend the company's articles of association [1] - For the fiscal year 2024, Fulaient's revenue composition is as follows: specialty chemicals account for 91.13%, photovoltaic packaging materials account for 5.62%, and other businesses account for 3.25% [1] - As of the time of reporting, Fulaient's market capitalization is 3.9 billion yuan [1]

Group 1 - The core point of the article is that Jihua Group has completed a share reduction plan, with a total of approximately 1.96 million shares reduced, accounting for 0.29% of the company's total share capital [1] - As of the announcement date, Jihua Group's market capitalization is 3.7 billion yuan [1] - For the year 2024, Jihua Group's revenue composition is reported to be 96.73% from specialty chemicals and 3.27% from other businesses [1]

Group 1 - Sika successfully issued bonds totaling 600 million Swiss francs (approximately 5.3154 billion RMB) on November 11, 2025, with a maturity date of November 28, 2025 [2] - The bond issuance was led by BNP Paribas, UBS Group, and Zürcher Kantonalbank, and will be listed on the Swiss Stock Exchange [2] - This bond issuance is the second for Sika in 2025, following a previous issuance of 500 million Swiss francs in March [3] Group 2 - The three tranches of bonds improve the existing maturity structure and reduce the overall financing costs for the group [3] - The net proceeds from the bond issuance will be used for general corporate purposes, including refinancing existing debt [3] - The bond details include: 100 million Swiss francs maturing in 2027 with a fixed interest rate of 0.450%, 250 million Swiss francs maturing in 2030 with a fixed interest rate of 0.850%, and 250 million Swiss francs maturing in 2034 with a fixed interest rate of 1.200% [7] Group 3 - Sika Group is a leading specialty chemicals company focused on developing and producing systems and products for bonding, sealing, damping, reinforcing, and protecting in the construction and automotive sectors [6] - Sika operates over 300 manufacturing plants globally and has a presence in more than 100 countries [6] - In 2024, Sika achieved a record sales figure of 11.76 billion Swiss francs (approximately 94.094 billion RMB) [6]

Group 1 - The core point of the article is that Zhejiang Longsheng has announced its total external guarantees for subsidiaries amounting to RMB 8.56 billion, which represents 24.97% of the company's audited net assets as of the end of 2024 [1] - As of November 13, 2023, Zhejiang Longsheng's market capitalization is RMB 36.5 billion [1] - The revenue composition for Zhejiang Longsheng for the first half of 2025 is as follows: specialty chemicals 86.3%, basic chemicals 5.08%, real estate 3.48%, other industries 1.88%, and automotive parts 1.23% [1]

Core Insights - LANXESS's subsidiary Rhein Chemie has officially launched an expansion project at its Qingdao production base, marking the largest investment in five years for the company [3] - The expansion involves two production lines, V4 and V8, with a 50% increase in capacity and technological upgrades [3] Company Overview - LANXESS is a global specialty chemicals supplier with approximately 12,000 employees across 32 countries, and projected sales of €6.366 billion in 2024 [3] - Rhein Chemie operates in the additives segment and has 14 production sites in 8 countries [3] Production Details - The V4 line produces processing additives, while the V8 line focuses on pre-dispersed masterbatch products [3] - The Qingdao production base has been operational since 1999, with a total capacity of 30,000 tons [3] Market Demand - The expansion is driven by strong downstream market demand, particularly in the tire industry, which is critical for the production of specialty additives [5] - China is the world's largest tire manufacturer, with a projected production of 1.187 billion rubber tires in 2024, a 9.2% increase year-on-year [4] Economic Context - Despite the expansion, the global economy is facing challenges, with the petrochemical industry's profit margins declining from 8.03% in 2021 to 4.85% in 2024 [6] - LANXESS's specialty additives business reported a decline in sales and profits in Q3 2025, prompting a strategic shift towards providing greater value through innovation rather than focusing solely on sales volume [6]

Group 1 - The core viewpoint of the article highlights that Lanxess reported a 16.3% year-on-year decline in sales for Q3 2025, attributed to a weak economic environment and geopolitical uncertainties [1] - The company's EBITDA decreased by 27.7% year-on-year, amounting to €125 million [1] - The consumer protection segment showed resilience with a 1.4% increase in EBITDA to €72 million, achieving a profit margin of 15.9% [1] - The specialty additives segment experienced a 26.2% decline in profit due to weak demand and underutilization of capacity [1] - The high-quality intermediates segment saw a significant profit drop of 61.8%, facing price pressures and weak demand in the Asian market [1] Group 2 - Lanxess is advancing its "FORWARD!" cost-saving program, aiming for permanent annual savings of €150 million by the end of 2025 [3] - The company announced further optimization of its production network, targeting an additional annual cost saving of €50 million by the end of 2027 [3] - Lanxess is also developing new initiatives to uncover approximately €100 million in additional savings potential [3]