NHU(SZ:002001)2022-12-03 09:01Group 1: Investment and Project Overview - The total investment for the 300,000 tons of methionine project is approximately 7.5 billion yuan, with the first phase (50,000 tons) costing about 2.2 billion yuan and the planned investment for the second phase (250,000 tons) around 5.3 billion yuan [2] - The company focuses on developing methionine due to its significant market size and alignment with the strategy of product development for import substitution [2] Group 2: Production and Technology - The company utilizes new equipment that is expected to be more efficient in energy utilization compared to older models [2] - The methionine production process is independently developed, with core personnel primarily trained in-house to ensure project advancement [3] Group 3: Product Comparison and Market Position - Liquid methionine and solid methionine serve similar functions, but solid methionine is the actual product, while liquid methionine is a precursor that converts to methionine in animals [3] - The global production ratio of solid to liquid methionine is approximately 6:4, with liquid methionine having lower production costs [3] - Compared to foreign methionine producers, the company believes it has competitive advantages in overall operational capabilities, including integrated raw material sourcing and differentiated final products [3]