According to the CICC research report, the downward cycle of the petrochemical industry has continued for about 3 and a half years. As the industry's capital expenditure continues to decline and overseas production capacity is rapidly withdrawn, we believe that the industry's production capacity will enter a stage of low growth. At the same time, the anti-domestic market, which mainly focuses on industry self-discipline, has also accelerated the recovery of profits for related products. As supply-side favorable factors continue to accumulate and demand in fields such as new energy sources rapidly grows, we expect an inflection point in the chemical industry cycle.

According to the CICC research report, the downward cycle of the petrochemical industry has continued for about 3 and a half years. As the industry's capital expenditure continues to decline and overseas production capacity is rapidly withdrawn, we believe that the industry's production capacity will enter a stage of low growth. At the same time, the anti-domestic market, which mainly focuses on industry self-discipline, has also accelerated the recovery of profits for related products. As supply-side favorable factors continue to accumulate and demand in fields such as new energy sources rapidly grows, we expect an inflection point in the chemical industry cycle.