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Domestic news: The Ministry of Commerce and the General Administration of Customs impose export controls on lithium batteries and artificial graphite anode materials. On October 9, the Ministry of Commerce and the General Administration of Customs issued several announcements; in order to safeguard **security and interests and fulfill international obligations related to non-proliferation, and with the approval of the State Council, it was decided to impose export controls on superhard materials, lithium batteries and artificial graphite anode materials, as well as certain rare earth-related equipment and raw materials. Yonghe Co., Ltd. issued a statement on expected increased profits for the first three quarters. On October 9, Zhejiang Yonghe Refrigeration Co., Ltd. released a statement indicating an expected increase in profits for the first three quarters of 2025. The company expects that for the first three quarters of 2025, the net profit attributable to the shareholders of the listed company will range from 456,364,000 yuan to 476,364,000 yuan. Compared with the same period last year, this figure is set to increase by 309,901,700 yuan to 329,901,700 yuan, representing a year-on-year growth rate of 211.59% to 225.25%. Specifically, it is estimated that in the third quarter of 2025, the net profit attributable to the shareholders of the listed company will range from 185 million to 205 million yuan, representing a year-on-year increase of 447.64% to 506.85%, and a quarter-on-quarter increase of 6.34% to 17.83%. The company expects that in the first three quarters of 2025, the net profit attributable to the shareholders of the listed company, after deducting non-recurring gains and losses, will range from 442 million to 462 million yuan. Compared with the same period last year, this figure is set to increase by 300 million to 320 million yuan, representing a year-on-year growth rate of 212.93% to 227.10%. Specifically, it is estimated that in the third quarter of 2025, the net profit attributable to the shareholders of the listed company, after deducting non-recurring gains and losses, will range from 174 million to 194 million yuan. This represents a year-on-year increase of 396.82% to 453.92%, as well as a quarter-on-quarter increase of 1.71% to 13.40%. A high-end new materials project with a total investment of 15.2 billion yuan has been approved. Recently, the Ecology and Environment Bureau of the Ningdong Energy and Chemical Industry Base Management Committee issued a public notice stating that it intends to review and approve the environmental impact assessment document for the construction of this coal-based high-end new materials project carried out by Ningxia Carbon New Materials Co., Ltd. The total investment in this project is 15.2 billion yuan. It mainly involves the construction of key facilities such as hydrogen production units, concentrated sulfuric acid production units, ammonia synthesis units, hydrogen peroxide production units, cyclohexanone production units, caprolactam production units, hexamethylenediamine production units, and PA66 production units. In addition, auxiliary facilities and environmental protection systems are also built, including laboratories, circulating water stations, tank areas, warehouses, flare systems, waste gas treatment facilities, sewage treatment systems, hazardous waste incinerators, initial rainwater collection tanks, and accident containment tanks. Upon completion of the project, the production capacity of the main products will be 600,000 tons per year of caprolactam, 500,000 tons per year of hexamethylenediamine, 300,000 tons per year of nylon 66 chips, and 36,000 tons per year of hydrogen. China’s first 10,000-ton direct air carbon capture (DAC) project approved – On October 9, Black Whale Energy announced that the country’s first 10,000-ton direct air carbon capture (DAC) project has been officially approved. Construction of this project is scheduled to begin in December 2025. As the first negative-carbonization factory under China’s DAC technology roadmap, this project makes full use of the region’s advantages in green electricity by combining wind power generation with direct air carbon capture technology, and safely sequestering the captured carbon dioxide underground. Upon completion, this project is expected to become the world’s first integrated DACS project combining wind power, DAC, and geological storage, thus filling a gap in the DAC industry. Clariant investing in factory expansion in China It has been reported recently that Clariant is expanding its production capacity in China, and will put its second production line for fire-resistant materials into operation there in November this year. Clariant’s investment in its factory located in Daya Bay, Guangdong Province, China, totals 100 million Swiss francs. This factory is designed to meet the growing global and Asian demand for sustainable fire-resistant materials, which are primarily used in the electric vehicle and electronics industries. Public announcement on Wanbo New Materials’ 115 million yuan expansion project: Recently, the environmental impact assessment report for Wanbo New Materials Technology (Nantong) Co., Ltd. (hereinafter referred to as “Wanbo New Materials”)’s project to expand production capacity for 16,000 tons of acrylic resin and 10,000 tons of polyester resin per year, as well as to renovate the facilities for fluorocarbon resins, has entered the public announcement phase. It is reported that the total investment in this project is 115 million yuan. By building on the existing factory premises, the project will involve both expansion and technological upgrades, with an estimated construction period of 12 months. This expansion and renovation project mainly consists of two parts: the first is to expand the production capacity for acrylic resins, with an annual output of 16,000 tons, including 4,000 tons of acrylic resins (high-solidity, low-viscosity type), 5,000 tons of acrylic resins (liquid high-solid-content type), 2,000 tons of modified acrylic resins, 5,000 tons of solid acrylic resins, and 10,000 tons of high-solidity polyester resins ； Second, technical upgrades are carried out on existing production facilities for fluorocarbon resins, acrylic resins, water-based polyester resins, polyester resins, and leveling agents; by optimizing process parameters and feeding methods, the stability of reactions and the quality of the products are improved, without increasing the production capacity of these existing products. Novoloop® announces strategic partnership with Shanghai Huidé On October 9, the American technology leader Novoloop® announced a strategic partnership with Shanghai Huidé Technology Co., Ltd. (referred to as “Shanghai Huidé”) to jointly expand the production capacity of Novoloop Lifecycled™ thermoplastic polyurethane (TPU). The two parties have signed a five-year contract manufacturing agreement, establishing a long-term and clear framework for cooperation regarding supply, pricing, and quality standards. Currently, Novoloop and Shanghai Huidé have successfully produced multiple batches of Lifecycled™ 67A TPU on large-scale reaction extrusion production lines, using Novoloop’s Lifecycled™ polyols and formulations. All quality and performance parameters meet the specified requirements, demonstrating the feasibility of producing TPU on a large scale using recycled materials. Under the agreement, as production increases, the two parties will also establish a full-process tracking and reporting system in line with GRS (Global Recycled Standard), laying the foundation for the introduction of multiple Lifecycled™ TPU grades in the future.