Xinfengming: answers to investors' questions

Xinfengming (603225.SH) said on the investor interactive platform on March 9 that the gentle fluctuation of crude oil price will not affect the company's operation while sharp up-and-down of oil price may affect the buying mentality of the downstream buyers and thus affect the company's sales situation. At present, the company reasonably grasps the inventory level, and the production and operation situation is relatively stable. Xinfengming's PTA capacity is at 5 million tons/year now, which has achieved full production, mainly used in the company's polyester production. 

In 2022, the company will add 1 million tons/year of PFY and 600kt/year of PSF. The company will appropriately increase differential varieties and DTY items. Xinfengming's 300kt/year FDY unit started operation in Feb 2022. It plans to add another 700kt/year of PFY and 600kt/year PSF capacity this year. The company will steadily promote the construction of filament, staple fiber and PTA in accordance with the established planning strategy, and strive to achieve the two capacity targets of "10 million tons" in 2025. At the same time, Xinfengming will continue to increase investment in R & D and innovation, make good use of the platform of the company's provincial research institutes, vigorously enhance the added value of product technology, improve product gross profit, and create better value.