First, Mr. Ji gave us a brief introduction to INEOS Group, and then expanded the content of the report from the following three parts:

1. Strict financial discipline is crucial to the sustainable development of the PTA industry. After the new plant is put into production, the cost curve of the PTA industry is flatter. Advances in PTA and PET recycling technology will erode demand for virgin PTA and polyester products. Oversupply has also led to more exports, but it may be difficult for PTA exports to continue to grow.

2. Overview of INEOS Group and its development in China. INEOS Group has been developing in China for 17 years. From 2006 to 2023, it has more than 800 employees, and its business involves 13 business units of INEOS.

3. INEOS circular economy and Infinia depolymerization technology. INEOS proposed a circular economy goal in 2025. At present, there are at least 325,000 tons of recycled materials in all products. Mr. Ji introduced INEOS' polyester recycling technology: for polyester or polyester waste that is difficult to recycle, the production quality is comparable to that of virgin monomers, It is interchangeable with materials of fossil origin and can be used to produce recycled bottle flakes and polyester products, enabling a true circular economy.