He Xiaoqin, Senior Researcher in Energy and Chemicals, Guotai Junan Futures, delivered her report of PET Bottle Chip Futures and Options Strategies for Supporting PET Industry Chain Development.

Ms. He's report is mainly divided into two parts:

The first part introduces a new pattern of profit distribution in the polyester industry chain. Ms. He conducted an in-depth analysis of the new profit distribution pattern within the polyester industry chain. She pointed out that the reversal of the Sino-U.S. interest rate spread has led to a reduction in profits within the textile and apparel industry chain. Additionally, the supply-demand mismatch in the oil market has become increasingly prominent. Ms. He further explored the profound impact of the expansion of global refining capacity and the shift in demand patterns on oil product profits, as well as the phenomenon of high inventory levels and compressed profit margins in the polyester industry chain. She believes that bottle chip production has approached its peak, the export market faces challenges, and the supply-demand relationship is becoming more relaxed, while profit growth relies on the decline in upstream product valuations.

The second part illustrates the application of futures and options in the bottle chip industry chain. Ms. He proposed that futures and options, as tools serving the real economy, have shifted from a singular static game to a dynamic symbiotic relationship. She detailed the three core elements of options and provided an in-depth interpretation of the specific rules governing bottle chip futures trading. Ms. He also discussed the applications of options in various industrial scenarios, such as cost reduction, locking in minimum purchase prices, and optimizing hedging strategies. She concluded by emphasizing that the ultimate goal for companies using these financial tools is to achieve profit stability and explained how to effectively integrate futures and options strategies into the enterprise risk management system.