Baofeng Energy (600989.SH) disclosed its third-quarter report, showing that the company achieved an operating income of 35.545 billion yuan from January to September 2025, a year-on-year increase of 46.43%. The net profit attributable to the parent company was 8.950 billion yuan, a substantial year-on-year increase of 97.27%, and the net profit attributable to the parent company excluding non-recurring items also reached 8.972 billion yuan, a year-on-year increase of 82.85%. The single-quarter data was even more robust, with third-quarter operating income of 12.725 billion yuan, a year-on-year increase of 72.49%. The net profit attributable to the parent company was 3.232 billion yuan, skyrocketing 162.34% year-on-year, indicating a growth trend driven by a synergy of "volume and price differences."

On October 30th, the major project of the national petrochemical industry planning layout and China Petroleum's key project in the "14th Five-Year Plan," the Guangxi Petrochemical Ethylene Project, was fully completed and put into operation at Qinzhou Port in Guangxi. The first batch of qualified solid chemical products has been dispatched. The total investment of the project exceeds 30 billion yuan.

On the evening of October 29, Rongsheng Petrochemical released its report for the third quarter of 2025, showing that the company achieved an operating revenue of 227.815 billion yuan in the first three quarters, with a net profit attributable to the parent company of 888 million yuan. During the reporting period, the net cash flow from operating activities reached 23.647 billion yuan, a year-on-year increase of 19.93%. Specifically, in the third quarter, the company's net profit attributable to the parent company was 286 million yuan, marking a year-on-year growth of 1427.94% and a quarter-on-quarter increase of 1992.91% from Q2. The third quarter witnessed both year-on-year and quarter-on-quarter growth in net profit, highlighting the company's continuously improving performance.

On October 29, Sinopec released its third-quarter report for 2025. In the first three quarters, the company comprehensively coordinated production and operations, promoted regional optimization, and deepened potential tapping and efficiency improvement, maintaining stable production and operations. According to International Financial Reporting Standards, the profit attributable to shareholders for the first three quarters was RMB 32.065 billion, with RMB 8.313 billion in the third quarter, representing a year-on-year increase of 3.5%. The net cash flow from operating activities for the first three quarters was RMB 114.782 billion, an increase of 13.0% year-on-year, indicating a solid financial position.

The development of domestically produced ultra-high-purity polymer special materials is reaching a critical juncture.Recently, the first phase of the Puchenjing New Energy Special Polyolefin Specialty Materials Project, located in the Shanghai Chemical Industry Park, has officially commenced operations.As an industrial benchmark selected as a major project in Shanghai for two consecutive years in 2024 and 2025, the completion and commissioning of the Puxinjing Project marks a historic leap from dependence on imports to independent control in the field of ultra-high-purity high molecular weight polyethylene, a key strategic material in China.

Recently, Satellite Chemical (002648.SZ) released its third quarter report for 2025. The report shows that Satellite Chemical achieved a total operating revenue of 11.311 billion yuan, a year-on-year decrease of 12.15%; the net profit attributable to shareholders was 1.011 billion yuan, a year-on-year decrease of 38.21%; the net profit attributable to shareholders after deducting non-recurring gains and losses was 1.341 billion yuan, a year-on-year decrease of 27.63%, with basic earnings per share of 0.30 yuan.

At 14:38 on October 26, the 1.2 million tons/year ethylene plant of PetroChina Guangxi Petrochemical Company officially started feeding, and at 2:41 on the 27th, it produced qualified products, marking the successful initial operation of the plant. This critical milestone signifies the company's complete transformation from a "fuel-type" refinery to an integrated refining and chemical enterprise focusing on "chemical products and organic materials." It also accelerates the upgrade of a new industrial ecosystem characterized by "leading the way and cluster development" for the petrochemical industry in the southwest region.

Recently, Guangzhou Petrochemical's No. 3 polypropylene unit successfully trial-produced 250 tons of a new impact-resistant series polypropylene product, K7032N. The quality met the required standards, reaching the premium grade factory standard, further enriching the company's polypropylene product structure. This successfully trial-produced new polypropylene product features high gloss, stress whitening resistance, and good rigidity-toughness balance. It is mainly used in household appliances, hotel utensils, luggage, strollers, safety seats, and battery boxes, with broad market application prospects.

Recently, China Petroleum Guangxi Petrochemical CompanyThe 300,000 tons/year polystyrene (PS) unit has successfully produced qualified products, marking the successful first startup of China's first independently developed and fully localized green high-end polystyrene unit. This unit employs the second-generation proprietary technology for polystyrene developed by Guangdong Huangu Global Engineering Co., Ltd., which is a subsidiary of China Huangu Engineering Co., Ltd. It can flexibly produce various grades of general-purpose polystyrene (GPPS) series and high-impact polystyrene (HIPS) series products, covering the needs in fields such as electronics and electrical appliances, automotive parts, medical devices, and high-end daily consumer goods.

Recently, CNOOC Ningbo Daxie Petrochemical Co., Ltd.'s 100,000-ton/year polyolefin elastomer project has been approved for record. The project will utilize 60 acres of unused land within the Daxie Petrochemical plant area to purchase reactors, tower vessels, pumps, and other dynamic and static equipment, and to construct a 100,000-ton/year polyolefin elastomer project, while also improving related supporting facilities.

According to the Hong Kong Stock Exchange disclosure,Binhua GroupBinhu Chemical Co., Ltd. (abbreviated as "Binhu Group") has submitted a listing application to the main board of the Hong Kong Stock Exchange, with Huatai International and CCB International as its joint sponsors. According to the prospectus, Binhu Group maintains a leading position in the chlor-alkali chemicals industry, while achieving rapid growth in the petrochemical C3 and C4 products and wet electronic chemicals fields. The prospectus shows that Binhu Group is a domestically leading comprehensive chemical group driven by technological innovation and green low-carbon principles. The company was founded in 1968 and has been deeply involved in the chemical industry for over 50 years. Binhu Group's business areas include three core segments: chlor-alkali chemicals, C3 and C4 chemicals, and wet electronic chemicals, and it possesses a comprehensive product portfolio. Core products include caustic soda,Propylene oxideAs of 2024 revenue, Binhu Chemical Group is the largest producer of granular caustic soda and other products in China; as of June 30, 2025, it is the largest private producer of propylene oxide in China by production capacity. By June 30, 2025, it has three manufacturing bases, over 2,500 employees, and a high utilization rate of production units. The company is also one of the few domestic manufacturers capable of producing electronic-grade hydrofluoric acid used in advanced semiconductor processes.

Since October, the domestic EVA market has seen a loosening in supply and demand. On the supply side, petrochemical facilities have undergone fewer maintenance shutdowns and have maintained stable high production loads, resulting in abundant supply. Meanwhile, downstream demand from the main photovoltaic sector has slowed, and new orders for foamed footwear materials, both domestically and internationally, have been weak, leading to a lack of follow-up demand. Transactions have consistently struggled to improve. Additionally, with the upcoming commissioning of new facilities by Hanwha, expectations for increased domestic supply have risen, causing a significant drop in auctioned goods and intensifying bearish market sentiment. Faced with pressure from financial constraints, holders of inventory have increased their selling activities, leading to a rapid and wide decline in market prices.

Lotte Chemical's Malaysian subsidiary, Lotte Chemical Titan, recently announced that its $3.95 billion steam cracking facility and derivatives complex in Merak, Cilegon, Indonesia has commenced commercial operations. The project, named the "Lotte Chemical Indonesia New Ethylene Project" (LINE), is developed by Lotte Chemical Titan's subsidiary, PT Lotte Chemical Indonesia. In a statement submitted to the Malaysian Stock Exchange on October 15, Lotte Chemical stated that the project successfully began commercial operations on October 15, 2025.

Ningxia Baofeng Energy Phase IV Olefin New Material ProjectSignificant progress has been made. The main structure of the PP device extrusion and granulation plant has recently been completed.Completed the topping-out 52 days ahead of schedule....laid a solid foundation for the overall completion of the project in the later stages. This project...Total investment of 20.5 billion yuan.is a key project of Baofeng Company that focuses on its main business and strengthens its****.Construct a new 300,000 tons/year polypropylene plant and a 250,000 tons/year EVA plant.During the construction process, the project team implemented meticulous management by establishing a "daily safety inspection + weekly special inspection" mechanism, which cumulatively eliminated over 330 safety hazards, achieving zero safety incidents throughout the entire process. Upon completion, the project will further enhance Baofeng Energy's capacity in the polyolefin new materials sector, optimize the product structure, and provide the market with more high-quality polypropylene and EVA products.

According to a recent report by global energy and chemical market information service provider Argus Media, Dow Chemical is considering delaying the restart of its integrated net-zero emissions polyethylene project in Canada by 1 to 2 years and plans to announce the specific timeline for the project's restart by the end of 2025. Initially, Dow Chemical planned to start production of the first phase of the project by the end of 2027, with an expected annual output of 1.3 million tons; the second phase was scheduled to begin production in 2029, with an expected additional annual output of 600,000 tons. Dow Chemical CEO Jim Fitterling stated, "Aligning the project's production timing with market peaks is key to maximizing returns, and the current market environment is not the right time to start the project. However, this does not change the competitiveness of the project, and the company still believes it is a high-quality project."

On October 20, the 270,000 tons/year propylene oxide/styrene monomer (PO/SM) unit of the Guangxi Petrochemical refinery and petrochemical integration transformation and upgrading project successfully commenced operation, marking the official entry into production of China's first independently designed, procured, and constructed PO/SM unit by China National Petroleum Corporation.

Recently, the 400,000-ton/year polypropylene unit of the Guangxi Petrochemical Refining and Chemical Integration Transformation and Upgrade Project, undertaken by the Guangxi Project Department of the Third Branch Company, successfully produced its first batch of qualified products and was successfully started up in one go. This unit adopts the Unipol gas-phase fluidized bed reaction polymerization patented technology from Grace Company in the United States. It is the unit with the longest process flow, the largest number of equipment, the most variety, and the widest range of producible product grades among the domestic applications of the same process technology. The unit can produce a full range of 254 grades of products including homopolymers, ethylene-propylene random copolymers, impact copolymers, propylene-butene random copolymers, and terpolymers. The unit commenced construction on December 10, 2023, and began feeding and start-up on October 15, 2025, with a construction period of 22 months.

October 20 report: Shandong Lihua Yi's 400,000 tons/year ABS unit is currently operating at 50% capacity. Today, the ex-factory price is reduced by 50 yuan/ton, with M347 quoted at 8,400 yuan/ton, and ABS polymer AG-120 is out of stock.

Recently, a major breakthrough has been achieved in the PP3 unit of Yulin Chemical Company with the successful one-time production of a new grade of ultra-high melt flow impact-resistant polypropylene, EP640V. This marks a new breakthrough in the company's research and innovation in the field of high-end chemical new materials. It is reported that the core indicators of the EP640V product are outstanding, with a melt flow index of 100±15.0g/10min, combining high fluidity, high rigidity, and high impact resistance, along with excellent chemical stability and creep resistance. Moreover, this product has high processing efficiency and can be used to prepare large thin-walled injection molding products, effectively achieving material lightweighting. It is widely adaptable to the automotive industry, household appliances, logistics industry, and electronics and telecommunications fields, with broad market application prospects.

Liaoning Dingjide Petrochemical Co., Ltd. (hereinafter referred to as "Dingjide") has announced good news regarding its 200,000 tons/year POE (polyolefin elastomer) high-end new material project. According to the progress announcement disclosed by Dingjide on the evening of October 16, the project has officially commenced production and successfully produced qualified POE products. Dingjide stated that the commissioning of the POE industrialization facility is a milestone in the company's strategic development, marking the company's transformation from a producer of fine chemical additives and catalysts to a diversified manufacturer of new materials and fine chemicals.