NHU(SZ:002001)2026-02-10 02:20Summary of Key Points Industry Overview - The documents focus on the vitamin and amino acid industry, specifically highlighting the activities of a company named 新和成 (New Hope Liuhe) in the production and pricing of Vitamin E (VE) and methionine. Core Insights and Arguments - Vitamin E Price Increase: 新和成 has raised the export price of feed-grade Vitamin E by 15% effective from February 5. This price adjustment is attributed to strong overseas demand, with China's Vitamin E export volume projected to reach 14,436.80 tons by December 2025, marking a year-on-year increase of 39.12% and a quarter-on-quarter increase of 28.44% [1][1][1]. - Methionine Price Increase: Starting February 3, 新和成 has also increased the export price of solid methionine by 8% [1][1][1]. - Current Pricing Levels: The prices for methionine and Vitamin A are currently at historical lows, with Vitamin A priced at 61.5 yuan/kg and methionine at 18.1 yuan/kg, which are at the 0.1% and 1% historical price percentiles respectively. This indicates a significant potential for upward price elasticity [1][1][1]. - Production Capacity: 新和成 has a production capacity of 550,000 tons of methionine, 8,000 tons of Vitamin A, 60,000 tons of Vitamin E, and 2,000 tons of Vitamin D3 [1][1][1]. - Profitability of Methionine: According to Baichuan Information, the theoretical daily profit for methionine stands at 3,790 yuan/ton, which is at the 10% historical price difference percentile [1][1][1]. Additional Important Content - Current Financial Status of Vitamin A Producers: Vitamin A production companies are currently operating at the breakeven point, indicating a challenging financial environment [2][2][2]. - Risk Factors: There are several risk factors highlighted, including potential underperformance in terminal demand, unexpected increases in raw material prices, and delays in project implementation [3][3][3].