Group 1 - The company has been deeply engaged in the polyester industry for many years, focusing on the "PTA - bottle-grade polyester chip" industrial chain to rationally plan its industrial structure and integrated layout [1] - The company is set to launch two bottle chip projects: the Xingjia New Materials 1.5 million tons green packaging materials project in July 2023 and the Xingye Plastics 1.5 million tons multifunctional bottle chip project in May 2025 [1] - In 2024, the downstream consumption of polyester bottle chips is expected to show moderate growth, with an annual production of 15.56 million tons, an increase of 18.80% year-on-year, and an annual consumption of 14.97 million tons, an increase of 20.63% year-on-year [1] Group 2 - The soft drink sector remains the largest downstream application for polyester bottle chips, accounting for 73.25% of the total, with domestic soft drink companies increasing production capacity, contributing to a demand share of approximately 39% of PET [1] - The processing fees are expected to remain under pressure in 2024 due to short-term capacity expansion and market competition, leading to a decrease in product prices and profit margins [2] - The company is accelerating the PTA technical transformation and expansion project, aiming to enhance market dominance and industry competitiveness through scale advantages and cost control [2]