Enterprise Products Partners (NYSE:EPD) Q3 2025 Earnings Call October 30, 2025 10:00 AM ET Company ParticipantsRandy Fowler - Director and Co-CEOKeith Stanley - Director of Equity ResearchNatalie Gayden - SVP of Natural Gas AssetsBrandon Bingham - Associate Director of Equity ResearchTheresa Chen - Managing Director of Midstream and Refining Equity ResearchAJ O'Donnell - Director of Equity ResearchJames Bany - SVP of Crude Oil Pipelines and TerminalsLibby Strait - VP of Investor RelationsZach Strait - SVP o ...

Group 1 - The company announced a routine maintenance shutdown of its wholly-owned subsidiary Tianjin Bohai Petrochemical Co., Ltd.'s PDH unit, which has a capacity of 600,000 tons per year, starting from October 13, 2025, for approximately 30 days [1][2] - This maintenance is part of the annual plan and is not expected to have a significant impact on the company's production and operations [2] Group 2 - The company disclosed the major operating data for the third quarter of 2025 for its subsidiary Tianjin Bohai Petrochemical Co., Ltd., which is unaudited [3] - The announcement includes information on the production volume, sales, and revenue of major products, as well as price changes for major products and raw materials, although specific figures were not provided in the text [3]

Macroeconomic Highlights - The U.S. plans to impose a 100% tariff on Chinese goods starting November 1, in response to China's export controls on rare earths [1] - China firmly opposes the U.S. actions, emphasizing the need for dialogue and mutual respect to resolve differences [1] National Policies - The National Development and Reform Commission announced a reduction in domestic gasoline and diesel prices by 75 yuan and 70 yuan per ton, respectively, effective from October 13 [2] Transportation Sector - In September 2025, urban rail transit passenger volume decreased by 1.9 billion trips, a 6.6% decline month-on-month, but increased by 1.1 billion trips, a 4.3% rise year-on-year [3] - The average passenger intensity per kilometer decreased by 3.9% month-on-month and 3.3% year-on-year [3] Energy Sector - The State Grid Corporation completed fixed asset investments exceeding 420 billion yuan in the first nine months of the year, marking an 8.1% year-on-year increase [4] - Major projects, including ultra-high voltage direct current projects, have been operational or under construction [4] AI Industry Development - Sichuan Province has launched a plan to establish the "Zhuge Space" AI industry ecosystem, aiming to create a globally influential hub for AI technology and applications [5] Company News - Meili Eco (000010) won a 2.375 billion yuan EPC project [6] - Heyuan Gas signed a supply contract worth approximately 768 million yuan with Dingyi New Materials [7] - Yueyang Forest Paper's wholly-owned subsidiary secured a forestry carbon sink resource development project [8] - Hanjian Heshan won a project worth 207 million yuan, accounting for 26.29% of its 2024 revenue [9] - Zhongyan Dadi won a project worth 77 million yuan [10] - Xinhua Insurance expects a net profit increase of 45% to 65% year-on-year for the first three quarters [10] - Dongfang Iron Tower anticipates a net profit increase of 60.83% to 93% year-on-year for the first three quarters [10] - Salt Lake Co. expects a net profit increase of 36.89% to 49.62% year-on-year for the first three quarters [10] - Jin Di Group reported a 57.12% year-on-year decline in September contract amount, totaling 2.23 billion yuan [10] - Pritor expects a net profit increase of 53.48% to 67.82% year-on-year for the first three quarters [10] - Lingyi Manufacturing anticipates a net profit increase of 34.1% to 50.42% year-on-year for the first three quarters [10] - Naipu Mining expects a net profit decrease of 45.16% to 49.32% year-on-year for the first three quarters [10] - Chenguang Biotech expects a net profit increase of 344.05% to 401.55% year-on-year for the first three quarters [10] - Xichang Power anticipates a net profit increase of approximately 150.51% year-on-year for the first three quarters [10] - Bohai Chemical's subsidiary will undergo maintenance for its PDH unit (600,000 tons/year) starting October 13 [10] - Huaneng Intelligent has not generated revenue from nuclear fusion-related business [10] - Feilihua plans to raise up to 300 million yuan for the construction of its quartz electronic yarn intelligent manufacturing project [10] - Luyin Investment's controlling shareholder plans to increase its stake in the company by 40 million to 80 million yuan [10]

智通财经APP讯， 渤海化学(600800.SH)发布公告，根据化工企业生产工艺和生产装置的要求，为确保 生产装置安全有效运行，按照年度计划，公司全资子公司天津渤海石化有限公司的PDH装置(60万吨/年) 于2025年10月13日开始停产检修，预计检修30天左右。 ...

Core Viewpoint - Bohai Chemical (600800) announced the operational data of its wholly-owned subsidiary Tianjin Bohai Petrochemical Co., Ltd. for Q3 2025, indicating a decline in both production and average price of propylene [1] Group 1: Operational Data - In Q3 2025, the propylene production reached 133,800 tons, while sales were 130,900 tons [1] - The average price of propylene in Q3 2025 was 5,712.8 yuan/ton, reflecting a year-on-year decrease of 8.94% [1] Group 2: Maintenance Announcement - Bohai Petrochemical's PDH unit, with an annual capacity of 600,000 tons, is scheduled for maintenance starting October 13, 2025, expected to last approximately 30 days [1]

格隆汇10月13日丨渤海化学(600800.SH)公布，根据化工企业生产工艺和生产装置的要求，为确保生产 装置安全有效运行，按照年度计划，公司全资子公司天津渤海石化有限公司的PDH装置（60万吨/年） 于2025年10月13日开始停产检修，预计检修30天左右。 ...

Group 1 - The company announced the completion of routine maintenance for its wholly-owned subsidiary's PDH unit, which began on July 29, 2025, and resumed production on August 7, 2025 [1][2] - The board of directors guarantees the announcement's content is free from any false records, misleading statements, or significant omissions [1] - The announcement was made on August 9, 2025, confirming the resumption of operations [2]

本次停产检修是根据年度计划进行的例行检修，对公司的生产经营不会产生重大影响。 特此公告。 天津渤海化学股份有限公司董事会 2025年8月1日 证券代码：600800 证券简称：渤海化学 编号：临2025-037 天津渤海化学股份有限公司关于全资子公司PDH装置例行停产检修的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 根据化工企业生产工艺和生产装置的要求，为确保生产装置安全有效运行，按照年度计划，天津渤海化 学股份有限公司（以下简称"公司"）全资子公司天津渤海石化有限公司的PDH装置（60万吨/年）于 2025年7月29日开始停产检修，预计检修18天。 ...

Group 1 - The core point of the article is that Bohai Chemical announced a scheduled maintenance shutdown of its PDH unit, which has a capacity of 600,000 tons per year, starting from July 29, 2025, for an estimated duration of 18 days [2] - The maintenance is part of the annual plan and is necessary to ensure the safe and effective operation of the production facilities [2] - The company stated that this routine maintenance will not have a significant impact on its production and operations [2]

Core Viewpoint - Bohai Chemical (600800.SH) announced a scheduled maintenance for its PDH unit, which has a capacity of 600,000 tons per year, starting from July 29, 2025, for an estimated duration of 18 days. This maintenance is part of the annual plan and is not expected to have a significant impact on the company's operations [1]. Group 1 - The maintenance is a routine procedure based on the requirements of chemical production processes and equipment [1]. - The PDH unit will be offline for 18 days, starting from July 29, 2025 [1]. - The company anticipates that this maintenance will not significantly affect its production and operations [1].