In the first part, Mr. Hao pointed out that PX economics have improved, while PTA and PET bottle chip margin got squeezed this year, as PX supply has been relatively tight since 2025. PTA was oversupplies, and the competition intensified, leading to margin getting squeezed to record low. Polyester was also weak under pressure from soft demand as well as the increased cost.

In the second part, Mr. Hao showed the outlook for the latter half year. PX plant maintenance would reduce amid recovering economics, with overall operating rate to reach 90% in China. The gap of PTA supply in Zhejiang and Jiangsu would narrow, with Honggang, Helen and Dushan starting their new PTA units.