Core Viewpoint - The company Guoen Co., Ltd. has transitioned its PHB project from the laboratory research phase to the model development phase, indicating significant progress in its production capabilities [1] Group 1: Project Development - The PHB project has completed the kilogram-level preparation of epoxy propylene carbonylation reaction catalysts and PHB materials [1] - A small-scale production line has been established, and the company is simultaneously advancing the optimization of catalysts and the construction of the PHB grade matrix [1] Group 2: Vertical Integration and Supply Chain - The company leverages the vertical integration advantages of its subsidiary Guoen Chemical (Dongming), which has a production capacity of 200,000 tons/year of styrene and 80,000 tons/year of epoxy propylene [1] - This integration allows the company to meet the core raw material needs for PHB through a self-sufficient raw material system, creating a closed-loop value chain from basic chemicals to high-end functional new materials [1]