张毅在致辞中说，张家港优越的地理位置和一流的营商环境，为项目落地提供了坚实保障，充分体现了 政企协作的"张家港速度"。通过在张家港实现核心产品本地化生产，杜邦将更贴近客户需求，缩短供应 链响应时间；更深入理解中国市场场景，与本土伙伴协同开发定制化解决方案；更有效地支持中国新能 源、高端制造等战略产业发展，为培育新质生产力提供技术支撑。 涂凯诺致辞时表示，非常荣幸能在张家港这片土地上扎根发展，感谢张家港市委、市政府在项目推进中 给予的支持。摩力克品牌在中国市场已经深耕多年，为各行各业提供高性能的特种润滑解决方案，新生 产基地将进一步提升供应链的可靠性。杜邦将与客户共同开发解决方案，满足中国快速发展的产业所面 临的独特需求。 近年来，张家港市依托扬子江国际化工园等载体，聚焦功能性新材料和高端精细化工品等重点方向，吸 引了一大批国内外化工新材料头部企业投资落户，产业规模不断扩大、集聚效应持续释放，拥有规上企 业166家、世界500强企业26家、世界化工50强企业13家，化工新材料产业产值超800亿元。 11月18日上午，杜邦 摩力克 高性能特种润滑剂张家港生产基地奠基仪式在张家港保税区举行。张家港 市委副书记、市长 ...

Financial Data and Key Metrics Changes - Adjusted EBITDA increased by 5% year-over-year, reaching $83 million, with adjusted earnings per share up 10% to $2.08 [4][15][20] - Net sales for the third quarter were $494 million, a 7% increase from the prior year, driven by a 3% increase in organic volumes and a 5% contribution from acquisitions [15][20] - Gross margins were reported at 36.8%, slightly down from 37.3% in the same quarter last year, but improved sequentially from the second quarter of 2025 [15][16] Business Line Data and Key Metrics Changes - The Asia-Pacific segment showed strong performance with an 18% year-over-year increase in sales, driven by a 3% organic growth and contributions from the Dipsol acquisition [17][18] - The Americas segment saw a 1% increase in net sales year-over-year, but organic volumes were flat due to softer end market activity [18][19] - The AMEA segment experienced a 2% organic sales growth, with double-digit growth in advanced solutions [18] Market Data and Key Metrics Changes - End market activity declined by a low single-digit percentage compared to the prior year, with production levels across major markets down similarly [6][12] - The company outperformed its underlying end markets, achieving a 7% year-over-year increase in sales despite market softness [6][14] Company Strategy and Development Direction - The company is focused on operational discipline and strategic execution, aiming for sustainable long-term growth through innovation and customer service [4][10] - There is a strong emphasis on capital allocation, with a reduction in net leverage to 2.4 times and a commitment to returning cash to shareholders [5][12] - The company is positioning itself to capitalize on growth opportunities in emerging markets, particularly in Asia, with new facilities and R&D capabilities [10][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver growth despite a challenging macroeconomic environment, with expectations for continued momentum driven by share gains and cost actions [12][14] - There is an anticipation of a return to normal seasonal trends in the fourth quarter, with ongoing uncertainty from tariffs and global trade impacting customer operating rates [12][22] - The outlook for 2026 is cautiously optimistic, with expectations for market stabilization and continued share gains [14][41] Other Important Information - The company generated $51 million in operating cash flow during the third quarter, with capital expenditures of approximately $13 million [20][21] - The integration of the Dipsol acquisition is progressing well, contributing positively to the company's performance [7][34] Q&A Session Summary Question: Details on Asia-Pacific business and margin performance - Management highlighted strong growth in Asia-Pacific, with ongoing new business wins and some margin pressures due to raw material costs [27][31] Question: Opportunities in advanced solutions and market share - The company is excited about growth in advanced solutions, particularly with the Dipsol acquisition, and is well-positioned to capture market share [32][34] Question: Q4 outlook and organic growth expectations - Management expressed confidence in Q4 performance, expecting revenue and earnings growth year-over-year, despite normal seasonal impacts [35][38] Question: Customer investment trends and market dynamics - The outlook for 2026 is based on stability in end markets, with expectations for continued share gains rather than significant market growth [41][42] Question: Pricing strategy and share gain sustainability - The company aims to maintain a long-term share gain range of 2% to 4%, with strategic pricing decisions to support this goal [51][52] Question: Exposure to EVs and related market dynamics - The company is growing its presence in the EV market and sees opportunities in both ICE and EV segments [63][64]

Core Viewpoint - The article highlights the reform of the project commencement approval mechanism in Danzhou, transforming the process from multiple steps into a single streamlined procedure, thereby enhancing the business environment for enterprises [2][3][4]. Group 1: Project Commencement Reform - The project commencement process for the HMW company's production project has shifted from "a pile of tasks" to "one task," allowing for a more efficient approval process [2]. - The new reform allows enterprises to submit a complete set of materials at a single service window, with subsequent coordination handled internally by government departments, ensuring a synchronized review and verification process [3]. - This initiative not only saves time and labor costs for enterprises but also facilitates earlier project commencement, construction, and production [3]. Group 2: Business Environment Optimization - Danzhou is committed to enhancing the business environment through various measures, including improving service efficiency, market supply, and legal guarantees [4]. - The city has introduced innovative service models, such as the "enterprise orders, government runs" approach, which provides assistance to businesses, allowing them to focus more on production [4]. - A series of practical initiatives have been implemented to create a "convenient Danzhou," aiming to establish a first-class market-oriented, law-based, and international business environment [4].

Financial Data and Key Metrics Changes - In Q2 2025, the company reported net sales of $483 million, a 4% increase year over year, with organic volumes up 2% driven by new business wins and acquisitions contributing an additional 6% to sales [18][6] - Adjusted EBITDA for the second quarter was $75.5 million, reflecting a margin of 15.6%, which is lower than the previous year due to higher raw material costs and disciplined cost management [20][8] - Gross margins were reported at 36%, slightly down from 36.4% in the previous year, influenced by product and geographic mix as well as increased manufacturing costs [19][8] Business Line Data and Key Metrics Changes - The Asia Pacific segment achieved 3% organic sales growth in Q2, with a 20% year-over-year increase in sales, bolstered by acquisitions and strong organic volume growth [21][6] - The EMEA segment saw net sales growth compared to both the prior year and quarter, with organic volumes increasing 4% sequentially, driven by advanced and operating solutions [22][6] - The Americas segment experienced a 1% decline in net sales year over year, with a 2% decrease in volumes, although price mix was slightly positive [23][6] Market Data and Key Metrics Changes - The overall market served by the company is estimated to have declined by a low single-digit percentage compared to the prior year, with regional differences impacting performance [6][7] - Demand uncertainty due to tariffs is affecting geographic and product mix, although share gains across the portfolio are mitigating these impacts [7][6] Company Strategy and Development Direction - The company is focused on reducing complexity and improving cost structure to support long-term performance, with a commitment to serving customers and driving growth [5][10] - Investments in new manufacturing capabilities and innovation through R&D are key strategies to enhance customer outcomes and drive sustainable growth [10][11] - The company is implementing a $20 million cost program expected to yield approximately $15 million in savings in 2025, with further actions anticipated to deliver additional savings by 2026 [12][13] Management's Comments on Operating Environment and Future Outlook - Management anticipates that the softness in end markets will persist through 2025, but remains confident in the ability to drive above-market growth through a healthy pipeline of product trials [14][15] - The company expects to maintain adjusted EBITDA margins in the high teens over time, with ongoing efforts to improve cost efficiency and manage inflationary pressures [60][62] - Management expressed optimism about the company's position and growth potential, regardless of external market conditions [68][69] Other Important Information - The company approved a 5% increase in cash dividends, marking the sixteenth consecutive annual increase, and repurchased $33 million of shares [14][28] - The net debt at the end of the quarter was $735 million, with a net leverage ratio of 2.6 times trailing twelve months adjusted EBITDA [28][25] Q&A Session Summary Question: Share gains and sustainability of growth - Management noted broad-based share gains across all regions, particularly strong in Asia Pacific, and expressed confidence in sustaining mid-single-digit growth rates into the second half of the year [34][36] Question: Asia Pacific margins and raw material impacts - Management indicated that new business wins in Asia Pacific may lead to modest margin improvements over time, despite current raw material headwinds related to oleochemicals [38][39] Question: Outlook for sequential EBITDA growth - Management expects stronger performance in the second half compared to the first half, driven by new business wins and cost actions, but does not anticipate significant market improvement [41][46] Question: Advanced products growth and margins - The advanced products segment, including Fluid Intelligence, is expected to grow significantly, contributing around 20% of total revenues with higher growth rates than the corporate average [52][54] Question: Cost savings program details - The new $20 million cost savings program is expected to yield significant savings, with a focus on both G&A and network improvements [56][57] Question: Customer sentiment regarding tariffs - Customers are cautious about building inventory due to uncertainty from tariffs, with some adjustments in inventory levels noted [64][65] Question: Commercial strategy and organizational changes - Management highlighted improvements in customer retention and share gains, with operational changes made to enhance product line management and sales deployment [67][68]