International News Guide: Raw Material News - EU to Establish Critical Chemical Alliance to Safeguard Supply Chain Security Automotive News - China and the EU Agree to Establish a Working Group to Cooperate on Cross-Border Data Flow in the Automotive Sector Electronic News - SABIC Launches First Flame-Retardant PBT Nano Injection Molding Material with Excellent Bonding Strength and Mechanical Properties Packaging News - German associations push for mandatory compostable produce bags Medical News - Sengkang General Hospital in Singapore Adopts 3D-Printed TPU Materials to Customize Orthotic Insoles for Diabetics Macro News - US Imposes Anti-Dumping Duties on Chinese Graphite Price information - RMB/USD Central Parity Rate Reports 7.1498, Down by 37 Pips    details of international news:   1. Escalation of Retaliatory Measures! EU Continues to Pressure the US According to two officials who were briefed on the talks, the EU is preparing a list of possible tariffs on US services and export control measures as part of potential retaliatory actions if trade negotiations with Washington fail. In response to US President Trump's tariffs, the European Commission is compiling this list of measures, which still needs to be submitted to EU member states. Trump has announced that he plans to impose a 30% tariff on the EU bloc starting from August 1. Although Brussels had previously warned that it could expand the transatlantic trade war to services if negotiations to avoid these tariffs fail, it has so far not submitted specific measures to European capitals. One of the officials emphasized that the list will not only target US tech companies. This list will be an additional measure beyond the retaliatory proposal already being discussed by EU countries targeting 72 billion euros of annual US imports, which includes tariffs on Boeing aircraft, automobiles, and bourbon whiskey. 2. EU to Establish Critical Chemical Alliance to Safeguard Supply Chain Security The EU's executive body stated that the European Commission will work with member states and the chemical industry to support the production of chemicals identified as crucial to Europe's industrial supply chains. The European Commission said it will establish a Critical Chemical Alliance later this year, which will bring together the Commission, member states, and various stakeholders as part of a broader plan to revitalize Europe's chemical industry. In a statement, the Commission said the alliance will "identify key production sites in need of policy support and address trade issues such as supply chain dependencies and market distortions". This initiative draws on another alliance established earlier, which is responsible for identifying metals and minerals crucial to the energy transition. Subsequently, the EU set mining, processing, and recycling targets for 17 strategic materials. 3. Agilyx Acquires 44% Stake in Europe’s TopPlastic RecyclerGreenDot Global Agilyx acquires 44% of GreenDot, expanding into Europe’s recycling market and strengthening its global advanced plasticsrecycling platform. 4. Turkey: Anti-Dumping Measures on China-Related Polyethylene, Polypropylene Waterproof Tarpaulins and Polymer Plastic Products to Expire Soon According to the China Trade Remedy Information Network, on July 16, 2025, Turkey's Ministry of Trade issued Announcement No. 2025/15, stating that anti-dumping measures on polyethylene and polypropylene waterproof tarpaulins and polymer plastic products [Turkish: Polietilen ve polipropilenden mamul şerit veya benzerlerinden dokunmuş mensucat (yalnız dokuma brandalar)] originating from China and Vietnam will expire on May 6, 2026. Stakeholders should submit applications and evidence materials for sunset review investigations no later than 3 months before the expiration date. The Turkish tariff codes for the products are 3921.90.60.00.11, 3921.90.60.00.13, and 3926.90.97.90.18. The announcement takes effect from the date of issuance. 5. SABIC Launches First Flame-Retardant PBT Nano Injection Molding Material with Excellent Bonding Strength and Mechanical Properties SABIC announced the launch of a new product in its LNP™ THERMOTUF™ specialty composite series. The new LNP™ THERMOTUF™ WF0087N composite is the industry's first polybutylene terephthalate (PBT)-based nano-molding technology (NMT) material, combining excellent flame retardancy and superior mechanical properties. It meets the growing demand of the consumer electronics industry for lightweight and durable metal-plastic composite components, such as smartphone middle frames. In addition, the material's flame retardancy helps customers comply with the latest IEC 62368-1 safety standards for consumer electronic equipment. The LNP™ THERMOTUF™ WF0087N composite won the 2025 Edison Award. 6. Messe Düsseldorf unites its global plastics, rubber events under K-Alliance brand Germany-based global exhibition organizer Messe Düsseldorf is launching a new umbrella brand called “K-Alliance” to unite its worldwide plastics and rubber trade fairs under one identity, which replaces the previous Global Gate brand. “Global players in the plastics and rubber industry require appropriate platforms for direct market entry in growth regions,” said Thomas Franken, director of K. “Messe Düsseldorf has pooled its worldwide activities under the Global Gate brand, which will now become the K–Alliance.” Officials said the new name highlights not just market access but also strategic partnerships and alliances within the industry’s global trade fair network. “The previous name especially emphasized Messe Düsseldorf’s function as a door opener for entering promising sales markets,” Franken said. “The designation K-Alliance now places a clearer focus on the strong partnerships and alliances that our constantly growing, worldwide network of trade fairs related to plastics and rubber stands for.” The K-Alliance currently encompasses 11 global trade fairs, the biggest of which is the K fair; K 2025 is scheduled for Oct. 8-15 in Düsseldorf, with more than 3,200 exhibitors expected to showcase technologies in manufacturing, processing and finishing. 7. German associations push for mandatory compostable produce bags Industry associations are calling for compostable fruit and vegetable bags to become mandatory under the Packaging and Packaging Regulation (PPWR).The IK Industrial Association for Plastics Packaging, Plastics Europe Germany, European Bioplastics, Polykum, Carmen, and the nova Institute have published a position paper providing recommendations for Germany to implement the requirement at national level. 8. China and the EU Agree to Establish a Working Group to Cooperate on Cross-Border Data Flow in the Automotive Sector On July 17 , the second meeting of the China-EU Cross-Border Data Flow Exchange Mechanism was held in Brussels. Wang Jingtao, Vice Minister of the Cyberspace Administration of China, and Sabine Weyand, Director-General of the Directorate-General for Trade of the European Commission, co-chaired the meeting. The meeting reviewed the positive progress made since the establishment of the mechanism, believing that the mechanism has played an important role in promoting China-EU cross-border data flow. The two sides had in-depth, pragmatic, and constructive exchanges on issues related to China-EU cross-border data flow, and reached broad consensus on further leveraging the mechanism under the principle of two-way reciprocity and promoting rule alignment, in light of the demands of enterprises from both sides. The two sides agreed to establish a working group to cooperate on cross-border data flow in the automotive sector. 9.Sengkang General Hospital in Singapore Adopts 3D-Printed TPU Materials to Customize Orthotic Insoles for Diabetics The podiatry team at Sengkang General Hospital in Singapore is pioneering an innovative approach to diabetic foot care. Currently, the team is producing 3D-printed custom orthotic insoles in-house. These insoles are 3D-printed using thermoplastic polyurethane (TPU). Preliminary results show that compared with traditional insoles (23% reduction in peak pressure, 40% improvement in pressure distribution), the new insoles can reduce plantar peak pressure by up to 28.5% and improve pressure distribution by 52.7%.   Overseas macro markets:   【Putin: Europe's Abandonment of Russian Natural Gas Has Negatively Affected Its Industry】 On the 17th, Russian President Vladimir Putin stated in an interview that Europe's decision to abandon Russian natural gas has had a negative impact on its industry. In addition, Russian media reported that EU imports of Russian oil in May hit a three-month high, indicating that some EU member states still rely on Russian oil. 【Alcoa: Tariffs Keep Increasing Production Costs】 According to Bloomberg, Alcoa, the largest aluminum producer in the US, stated that US tariff policies are continuously increasing the company's production costs, and due to the impact of tariffs, its US customers are paying more for aluminum. 【US Media: US Imposes Anti-Dumping Duties on Chinese Graphite】 According to Bloomberg, the US has imposed a preliminary anti-dumping duty of 93.5% on graphite from China. A statement from the US Department of Commerce noted: "The US Department of Commerce has preliminarily determined to impose a 93.5% anti-dumping duty on imports of key battery material graphite from China due to unfair subsidies for these materials." It is worth noting that the final ruling is expected to be made by December 5 【Reliance Industries' Market Value Grows by 40 Billion USD This Year】 Shares of India's Reliance Industries have significantly outperformed India's benchmark stock index this year, with the largest lead in five years. So far this year, shares of India's most valuable company have surged 22%, while the NSE Nifty 50 index has risen only 6% in the same period. Controlled by Asia's richest man Mukesh Ambani, Reliance Industries has increased its market value by 40 billion USD in 2025, accounting for nearly one-third of the market value growth of India's benchmark stock index.   Price information:   【RMB/USD Central Parity Rate】 The RMB/USD central parity rate was reported at 7.1498, down by 37 pips; the previous trading day's central parity rate was 7.1461, the previous trading day's official closing price was 7.1796, and the previous night's closing price was 7.1809. 【Upstream raw material USD market price】 Ethylene Asia: CFR Northeast Asia $820/ton; CFR Southeast Asia $830/ton. Acrylic Northeast Asia: FOB Korea average price is $740/ton; CFR China average price is $770/ton, up $5/ton. Propane: North Asia frozen cargo CIF price, propane $512-514/ton; butane $482-484/ton. The import price of South China frozen goods in August is as follows: propane 549-559 USD/ton; butane 520-528 USD/ton. The landed price of frozen goods in Taiwan is propane at 512-514 USD/ton; butane at 482-484 USD/ton. 【LLDPE USD market price】 Film: 860-910 USD/ton (CFR Huangpu); Injection molding: $950/ton (CFR Dongguan); 【HDPE USD market price】 Film: $920/ton (CFR Huangpu); Hollow: 855-860 USD/ton (CFR Huangpu); 【LDPE USD market price】 Film: $1070-1090/ton (CFR Huangpu); Coating: $1350/ton (CFR Huangpu) 【PP USD market price】 Average aggregation: 965 USD/ton (CFR Huangpu); Co-polymerization: 940-950 USD/ton (CFR Nansha); Membrane material: 1030 USD/ton (CFR Nansha); Transparent: $1,085/ton (CFR Huangpu); Pipes: 1160 USD/ton (CFR Shanghai).

The podiatry team at Sengkang General Hospital in Singapore is pioneering an innovative approach to diabetic foot care. Currently, the team is producing custom 3D-printed orthotic insoles in-house. These insoles are made of thermoplastic polyurethane.TPUThe new insoles, made through 3D printing, show preliminary results indicating that compared to traditional insoles (with a 23% reduction in peak pressure and a 40% improvement in pressure distribution), the new insoles can reduce peak pressure by up to 28.5% and achieve a pressure distribution improvement rate of 52.7%. Singapore does not produce standard pressure-reducing EVA foam insoles locally and needs to source them from overseas. Patients must wait two months from placing an order to receiving the product, and if adjustments are needed, it takes even longer. However, 3D printing technology can provide patients with precisely customized insoles in just one week. The team pointed out that there are currently over 400,000 diabetes patients in Singapore, and if the current trend continues, the number of patients could exceed one million by 2050. As many as one-quarter of diabetes patients may develop foot ulcers, and over 80% of lower limb amputation surgeries are caused by these ulcers. Customized pressure-reducing insoles are crucial for preventing new ulcers and promoting wound healing, especially for patients with diabetic neuropathy.   First, the doctor creates a foam mold of the patient's foot and performs a digital scan. Based on the scanning data, insoles with different densities and precise shape adjustments are designed for different areas of the foot. The digital workflow allows for quick modifications to the design plan at any time. The podiatry treatment team at Sengkang General Hospital collaborated with the orthopedic and plastic surgery teams at the hospital and the 3D printing center at Singapore General Hospital to develop this product. Through detailed biomechanical examinations and pressure distribution analysis, a comprehensive assessment is conducted to create a precise digital model tailored to each patient's foot structure and pressure points. Orthopedic doctor Dickson Chau stated, "The advances in 3D printing technology have opened up new possibilities for patient care. After extensive testing of different materials and printing parameters, as well as valuable exchanges of experience with the 3D printing center at Singapore General Hospital, we have established a production process that ensures stable and reliable quality of insoles. This self-production capability allows us to quickly optimize products based on patient feedback, which is crucial for achieving the best therapeutic effects."

The podiatry team at Sengkang General Hospital in Singapore is pioneering an innovative approach to diabetic foot care. Currently, the team is producing custom 3D-printed orthotic insoles in-house. These insoles are made of thermoplastic polyurethane.TPUThe new insoles, made through 3D printing, show preliminary results indicating that compared to traditional insoles (with a 23% reduction in peak pressure and a 40% improvement in pressure distribution), the new insoles can reduce peak pressure by up to 28.5% and achieve a pressure distribution improvement rate of 52.7%. Singapore does not produce standard pressure-reducing EVA foam insoles locally and needs to source them from overseas. Patients must wait two months from placing an order to receiving the product, and if adjustments are needed, it takes even longer. However, 3D printing technology can provide patients with precisely customized insoles in just one week. The team pointed out that there are currently over 400,000 diabetes patients in Singapore, and if the current trend continues, the number of patients could exceed one million by 2050. As many as one-quarter of diabetes patients may develop foot ulcers, and over 80% of lower limb amputation surgeries are caused by these ulcers. Customized pressure-reducing insoles are crucial for preventing new ulcers and promoting wound healing, especially for patients with diabetic neuropathy.   First, the doctor creates a foam mold of the patient's foot and performs a digital scan. Based on the scanning data, insoles with different densities and precise shape adjustments are designed for different areas of the foot. The digital workflow allows for quick modifications to the design plan at any time. The podiatry treatment team at Sengkang General Hospital collaborated with the orthopedic and plastic surgery teams at the hospital and the 3D printing center at Singapore General Hospital to develop this product. Through detailed biomechanical examinations and pressure distribution analysis, a comprehensive assessment is conducted to create a precise digital model tailored to each patient's foot structure and pressure points. Orthopedic doctor Dickson Chau stated, "The advances in 3D printing technology have opened up new possibilities for patient care. After extensive testing of different materials and printing parameters, as well as valuable exchanges of experience with the 3D printing center at Singapore General Hospital, we have established a production process that ensures stable and reliable quality of insoles. This self-production capability allows us to quickly optimize products based on patient feedback, which is crucial for achieving the best therapeutic effects."

July 16, 2025SABICAnnounces the launch of a new product in its LNP™ THERMOTUF™ specialty composite series. The new LNP™ THERMOTUF™ WF0087N composite material is the industry's first based on polybutylene terephthalate (PBT).PBTThe nano-molding technology (NMT) material has excellent flame-retardant properties and outstanding mechanical performance. It meets the growing demand in the consumer electronics industry for lightweight and durable metal-plastic composite parts (such as the frames of smartphones). In addition, the material's flame-retardant properties help customers comply with the latest IEC 62368-1 safety standard for consumer electronic devices. LNP™ THERMOTUF™ WF0087N composite material has been awarded the 2025 Edison Award. SABIC's Director of R&D and Applications for the Asia Pacific region, Jenny Wang, stated: "As smartphones continue to break through in design, wireless connectivity, and charging speed, the industry urgently needs advanced materials to match these developments. The launch of this new flame-retardant nano-injection composite material demonstrates SABIC's commitment to the consumer electronics market. We will leverage breakthrough materials to help our customers enhance the performance, safety, compliance for mass production, and manufacturing efficiency of devices such as smartphones." Expand the advantages of nanomolding technology. Nano Molding Technology (NMT) creates tightly bonded composites by injecting plastic resin into chemically treated metal surfaces. Compared to die casting and insert molding techniques, NMT helps manufacturers achieve lightweight, thin-walled designs, radio frequency signal permeability, superior aesthetics, and a more streamlined processing workflow, while also enhancing the waterproof and dustproof performance of electronic devices. In addition to these advantages, LNP™ THERMOTUF™ composite materials retain good bonding strength and mechanical properties (such as impact resistance) while adding thin-wall flame retardant performance (UL94 V0 at 1.0 mm). Their metal bonding strength is improved by about 60% compared to conventional flame-retardant PBT resins, helping designers meet the stringent IP68 waterproof and dustproof standards. This innovative material also possesses the following characteristics: excellent resistance to corrosion from anodic oxidation treatment, support for customized coloring to achieve aesthetic design, and dielectric properties that ensure signal transmission efficiency for multi-antenna devices. Its main application scenarios include antenna dividers and various structural components for smartphones, tablets, smartwatches, and laptops.

On July 17, Dongfang Yuhong announced in a statement that its wholly-owned subsidiary intends to acquire 100% of the shares of Chilean building materials retail company Construmart S.A. for $123 million (approximately 880 million yuan). According to the announcement, Dongfang Yuhong Overseas Construction Development Company will hold a 99% stake in Construmart, while the International Trade Company will hold 1%. The target company was established in 1986 and operates 31 building material supermarkets in Chile, mainly selling construction auxiliary materials, bathroom products, and other items. The revenue for 2024 is expected to be 2.093 billion yuan, with a net profit of 35 million yuan and a debt-to-asset ratio of 54%. As of the end of May 2025, Construmart has total assets of 1.131 billion yuan and net assets of 520 million yuan. Dongfang Yuhong stated that this acquisition will integrate the channel and supply chain resources of both parties and explore growth points for international business.

【Report Introduction】 The demand structure has shifted from incremental construction to stock updating. The upgrade in consumption has driven an increase in demand for high-quality green building materials. The acceleration of urbanization and the improvement of channel have enhanced the advantages of consumer building materials enterprises.   Core viewpoint Event: From July 14 to 15, 2025, the Central Urban Work Conference was held in Beijing. The conference pointed out that China's urbanization is transitioning from a rapid growth period to a stable development period, and urban development is shifting from a phase of large-scale incremental expansion to a phase primarily focused on improving the quality and efficiency of existing resources. Additionally, five requirements for "transformation" regarding urban work were proposed, along with the deployment of seven key tasks. The demand structure is shifting from incremental construction to stock updates. The meeting emphasized that promoting urban renewal is an important measure to steadily advance the transformation of urban villages and the renovation of dilapidated houses, to promote the construction of urban infrastructure lifeline safety projects, and to accelerate the upgrading and renovation of old pipelines. From a policy perspective, as China's urban development transitions to stock optimization, urban renewal will continue to gain momentum. In May 2025, the General Office of the CPC Central Committee and the General Office of the State Council jointly issued the "Opinions on Continuously Promoting Urban Renewal Actions," which clarified that by 2030, urban renewal actions should achieve significant progress in areas such as improving institutional mechanisms, transforming development and construction methods, consolidating safety development foundations, enhancing service efficiency, and improving living environments. This means that urban renewal is not just about localized repairs and renovations, but is a comprehensive and systematic reshaping. As a fundamental material for urban construction, building materials are expected to benefit from the in-depth advancement of urban renewal, stimulating demand for building materials in the stock market. The following two sub-sectors in the building materials industry are likely to benefit: 1) The construction of urban infrastructure and urban comprehensive pipe gallery projects is expected to accelerate, driving the release of demand for consumption building materials such as pipes and waterproof materials; 2) The renovation of urban villages and old communities is expected to increase the demand for products such as architectural coatings and thermal insulation materials. The upgrading of consumption has driven an increase in demand for high-quality green building materials. The meeting mentioned that, with the theme of promoting high-quality urban development, efforts are being made to enhance urban quality and promote green transformation. For the first time, the concept of "good houses" was included in the government work report for 2025, which clearly stated the need to meet the high-quality housing demands of the people and promote the construction of "safe, comfortable, green, and smart" good houses. In March 2025, the Ministry of Housing and Urban-Rural Development released the national standard "Residential Project Specification," which proposed new regulations on the quality, floor height, lighting, sound insulation, elevators, and other aspects of residential buildings. With the implementation and enforcement of the "Residential Project Specification," the demand for high-quality green building materials will continue to rise. High-quality supply will become a new growth point for building materials in the real estate market. Leading building material companies will significantly benefit from this transformation due to their advantages in product quality, environmental performance, and innovative technology. The acceleration of urbanization construction and the improvement of channel layout enhance the advantages of consumer building material enterprises. The meeting mentioned the classification and promotion of urbanization construction with county towns as an important carrier, facilitating the coordinated development of large, medium, and small cities as well as small towns. In recent years, many consumer building material enterprises have accelerated their channel penetration, expanding their business layout from first- and second-tier cities to county-level and rural markets, thereby increasing their retail business scale. With the rapid advancement of urbanization construction, enterprises with a well-established channel layout can quickly respond to market demands and increase their market share. Investment advice With the transformation of urban development towards improving quality and efficiency of existing stock, the building materials industry is. Urban renewal, maintenance and renovation, and pipeline upgrades will drive the demand for consumption building materials such as pipes, waterproofing materials, and coatings. Leading enterprises with product quality advantages are expected to benefit significantly. In addition, the advancement of urbanization will further release the potential of county markets, favoring building material companies with well-established distribution channels. Risk Warning The risk of raw material price fluctuations exceeding expectations; the risk of downstream demand recovery being less than expected; the risk of policy implementation being slower than expected.

On May 28 this year, Sunrise International Indonesia "PT Early Light International Indonesia" (a subsidiary of Sunrise International Holdings "Early Light International (Holding) Ltd") held a groundbreaking ceremony for its export-oriented toy manufacturing facility in the Kendal Economic Zone (KEK Kendal) in Central Java, Indonesia. The total investment plan for the project amounts to 540 billion Indonesian rupiah (approximately 34 million USD). Early Light International (Holding) Ltd, headquartered in Hong Kong, has been operating since 1972 and is one of the largest toy manufacturers in the world. By successfully building the largest toy manufacturing empire globally and becoming a major supplier for Mattel and Hasbro, its founder Chow Chi Ming has earned the title of "King of Toys." In the Kendal Economic Zone, the factory of PT Early Light International Indonesia will produce various types of toys, including plastic figurines, plush toys, and fashion dolls. All products are aimed at the export market, sold to multiple countries including the United States, Canada, EU countries, and regions in Asia. Juliani Kusumaningrum, the Executive Director of the Kendal Economic Zone, stated that the arrival of Early Light further solidifies the position of the Kendal Industrial Park (KIK) as a globally competitive industrial area. "We welcome Early Light's investment, which is a strategic move to strengthen the toy industry ecosystem in the region. Previously, there have been several similar industry participants in the Kendal Economic Zone, and with the addition of Early Light, we are optimistic that a stronger and more efficient supply chain will be formed," she said. In addition, she also added that the Kendal Economic Zone offers various financial incentives, such as reductions in corporate income tax (PPh Badan) in the form of tax holidays and tax allowances, exemptions from value-added tax (PPN), and import duty exemptions. These undoubtedly further enhance the competitiveness of the area in attracting investment, especially for labor-intensive industries like Early Light that are export-oriented. Early Light President Director Siu Chee Ng expressed the company's long-term commitment to Indonesia. "We are very pleased to start the construction of our new production facility in the Kendal Special Economic Zone, which has a prime location, abundant labor resources, and offers attractive tax-related facilities and incentives. This production facility is expected to employ about 4,400 local workers. We believe Indonesia will become an important production base for our global expansion," he stated. Xurich International Group used to have factories in Shenzhen and Shaoguan. The Shenzhen factory has now closed, while the number of employees in Shaoguan still exceeds 10,000. It was once claimed to have 80,000 employees. The company's main shareholder is Cai Jiamin, daughter of the "Toy King of Hong Kong," Cai Zhiming. It undertakes orders from Mattel, Hasbro, MGA, SSD, and is engaged in contract manufacturing. This factory was once the largest toy contract manufacturer in the country. It encompasses almost all toy production processes, including prototype manufacturing, mold making, injection molding, painting, pad printing, rubber injection, sewing, alloy, electronics (SMD, bonding, PCB assembly), and finished product assembly, with products including electronic, plastic, alloy, tinplate, and sewn toys, among others. In 1994, Cai Zhiming acquired an American alloy toy car company and established Sunrise International Group. More than 20 foreign companies ordered toys from Sunrise International, including some of the world's top toy companies. The company's founder, Cai Zhiming, owns a large amount of property in Hong Kong, including Kowloon City Plaza, parking lots, office buildings, and residential buildings. The income from these properties even exceeds his earnings from toys. He is also a director of the famous hotel in Hong Kong, the Rich Hotel, and a major shareholder in the Hong Kong-listed company Kang Jian International. Recently, he also invested in the listed real estate company Kaisa Group. In the 2018 Forbes Hong Kong Rich List, toy king Tsai Chi Ming ranked 13th with a fortune of 6.5 billion USD. This entrepreneur successfully transformed his hobby into a career: due to his childhood longing for toys that he could not have, he was determined to establish his own toy kingdom. Today, he owns Asia's largest toy manufacturing company, Sunrise Group. This toy king has quietly become a super-rich Hong Kong entrepreneur on par with established tycoons like Li Ka-shing and Lee Shau Kee.

The Danish century-old footwear brand ECCO is accelerating its transformation from the business scene to the sports and outdoor arena. At the end of June, ECCO's collaborative capsule collection with the Japanese mountain streetwear brand White Mountaineering made its debut at Paris Fashion Week. The new men's and women's ready-to-wear collection and functional footwear will be launched in August 2025. This is the third collaboration between ECCO and White Mountaineering. As early as late October last year, the joint capsule series was launched, attracting widespread attention in the market. Many people in the outdoor community believe that, empowered by White Mountaineering, ECCO's urban outdoor apparel system can be said to be "winning at the starting line." Dive into the blue ocean of outdoor sports. According to reports, White Mountaineering is a Japanese outdoor apparel brand founded in 2006 by designer Yosuke Aizawa. Over the years, White Mountaineering has been dedicated to merging outdoor sports with fashion, creating a brand new style in fashion. White Mountaineering is very active in collaborations. In addition to working with ECCO, it has also launched collaborative products with fashion brands such as adidas, UGG, Danner, Wrangler, and MADNESS, which are well-loved by consumers. ECCO is a Danish casual footwear brand, founded in 1963, and entered the Chinese market in 1997. ECCO has always left Chinese consumers with the impression of being a mid-to-high-end brand with a price point in the thousand-yuan range and a focus on comfort. However, its design style is relatively conservative, making it more popular among middle-aged and older professional men. There are numerous discussions on social media linking it to terms like "dad shoes," "fashion items for middle-aged men," and "government office footwear." "Ten love walking, nine are rich, and one is just starting." "To do business, you have to travel far; if you want to be rich, wear love walking." Many jokes circulating on social media have turned ECCO into a symbol of success. However, some young people in the comments express confusion about who exactly is wearing these "ugly shoes." This cognitive dissonance reflects the conflict between ECCO's brand DNA and the changes in consumer generations: as Generation Z sees outdoor activities as a trendy lifestyle, this century-old brand, rooted in "comfortable business," is trying to shake off its "middle-aged" label through collaborations with trendy brands. The explosive growth of the outdoor sports market provides a crucial opportunity for its transformation. A recent research report released by Dongfang Caifu Securities shows that outdoor sports are gradually becoming more integrated into daily life and popular among the general public. According to data from Xiaohongshu, activities such as city walking, trail running, stream tracing, diving, rock climbing, cycling, and hiking are seeing rapid growth in search volume. In terms of total search volume, yoga, camping, hiking, cycling, and skiing have become popular outdoor sports with high total search volume and a large number of exposure notes. According to data from the National Bureau of Statistics, the China National Garment Association, and Frost & Sullivan, the market size of the high-performance outdoor footwear and apparel market in mainland China is expected to reach 102.7 billion yuan in 2024. Outdoor apparel leads the industry in growth, with the market size CAGR for apparel, footwear, and accessories from 2019 to 2024 being 14.7%, 12.8%, and 10.0%, respectively. Among them, the windbreakers and sun-protective clothing are the super popular items in outdoor apparel. According to data from Yien, windbreakers have the highest content volume on social media platforms like Douyin and Xiaohongshu. From the market structure perspective, affordable windbreakers occupy the main market, while the mid-to-high-end windbreaker market is growing at a faster pace. According to Jiuqian data, mid-to-high-end windbreakers show stronger growth potential, with online sales growth rates for windbreakers priced between 699-1521 yuan projected to be 37% in the first four months of 2025, and online sales growth rates for windbreakers priced above 1521 yuan reaching as high as 65%. Such industry data may explain why ECCO, which has deeply cultivated the business footwear sector, suddenly ventures into the trendy outdoor space. Will anyone pay for ECCO outdoor? Since the opening of its first ACTIVELIFESTYLE outdoor store in 2024, ECCO has completed a strategic layout of 20 stores in China. This century-old brand, known for its footwear, is attempting to transition from a "footwear expert" to a "full-scene outdoor lifestyle brand." In terms of product positioning, ECCO is also targeting the mid-to-high-end market. According to a report by Southern Metropolis and Bay Finance, an inquiry into ECCO's official mall reveals that its collaboration series with Japanese brand White Mountaineering features distinctly high-end pricing: sports shoes are priced primarily in the 2000-3000 yuan range, the starting price for the collaboration outerwear series exceeds 2000 yuan, and the pricing for the GORE-TEX professional fabric jackets is as high as nearly 7000 yuan. Such pricing has also sparked considerable controversy in the market. Some industry insiders point out that although ECCO has quickly penetrated the streetwear scene through three collaborations with White Mountaineering, its pricing lacks strong technical endorsement in front of the professional matrix of outdoor sports brands, resulting in insufficient market recognition. Taking trail running shoes as an example, leading brands like Salomon and HOKA often price their main models in the range of 1000-2000 yuan, such as the Salomon Pulsar Trail series and HOKA MAFATE SPEED2, which have become the top choice for runners due to their professional performance and cost-effectiveness. In the jacket market, Arc'teryx's NORVAN SHELL, a GORE-TEX hard shell, is priced around 4500 yuan, while domestic brand Kailas's MONTX series manages to keep the price of jackets made with the same material under 4000 yuan, making them relatively more competitive. However, ECCO's customer base itself possesses strong purchasing power, which may be the confidence behind its positioning of the sports product line as mid-to-high end. However, changing the ECCO customer’s entrenched impression of "comfortable business" to accept its new positioning of "functional outdoor" is bound to be a long and challenging battle. On social media, the consumer choice of "giving up ECCO and turning to Arc'teryx/Descente/Salomon" is frequently seen. As professional outdoor brands like Arc'teryx and Salomon continue to their product lines, ECCO's once core middle-class customer group is facing a sustained diversion crisis. This has compelled the brand to accelerate its transformation pace and seek breakthroughs in the fiercely competitive outdoor market. Financial reports show that from 2021 to 2024, ECCO's revenue in the Greater China region has continued to grow for four consecutive years, increasing from 360 million euros to 418 million euros. However, the trend of slowing growth is also evident. Data indicates that ECCO's revenue growth rate in the Greater China region decreased from 19% in 2021 to 1% in 2024. As of now, ECCO has opened 20 ACTIVELIFESTYLE outdoor flagship stores in China. The brand recently revealed in public reports that it plans to continue expanding in economically vibrant cities with strong consumer spending and will collaborate with leading commercial real estate developers to optimize its market layout.

On the fuselage of the Boeing 787 and Airbus A350, over 50% of the structural components are no longer made from traditional metal materials but have been replaced by a "black technology" material—carbon fiber reinforced thermoplastic composites. This material is not only lighter and stronger than metal but can also be reshaped repeatedly like plastic through heating and even recycled! Recently, the research results from Professor Li Guangji's team at Hangzhou Dianzi University have pushed the performance of this material to new heights. Today, we will uncover the magical qualities of this "future material"! Thermoplastics vs Thermosetting: A "Character Showdown" of Materials Composite materials are composed of reinforcing fibers (such as carbon fibers) and a resin matrix. Traditional thermosetting resins (such as epoxy resin) cannot be reversed once cured, just like a boiled egg cannot return to a liquid state. Although they have high hardness, they are brittle, have long processing cycles, and are not recyclable. In contrast, thermoplastic resins (such as PEEK, PPS) are like modeling clay; they soften when heated and harden when cooled, allowing for repeated processing. This "transformable" characteristic brings three major advantages: 1. High toughness: stronger resistance to impact and crack propagation. Efficient production: Molding only takes tens of minutes, which is several times faster than thermosetting processes. 3. Environmental economics: Waste materials can be recycled and reprocessed, reducing the high manufacturing costs in the aerospace field. "Patch up" composite materials: The magic of high toughness regions (HTRR) The fatal weakness of traditional carbon fiber composites is interlayer delamination—like the pages of a book being torn apart, the layers can easily separate due to stress concentration, as shown in the problem image in Figure 1. Figure 1. Failure Layer Analysis Li Guangji's team successfully solved this problem by innovating a process that implants "crack-resistant patches"—high toughness resin regions (HTRR) into the material, as shown in Figure 2. The implementation method is as follows: Mixing and weaving method: Carbon fiber is mixed with PPS fiber to form a special fabric structure; compression molding: Under high temperature and pressure, PPS melts and fills the gaps between the fibers, forming a tough "lock"; distribution optimization: By controlling the quantity, size, and distribution of HTRR, the crack propagation path is made to "get lost," redirecting it from interlayer to intralayer. Figure 2. Toughening methods for composites After applying the patches, the effects were enhanced, with the bending strength increasing by up to 75% and the tensile performance improving by 45%; delamination damage was reduced, and the damage mode changed from "single tearing" to "complex labyrinth-type failure." "Invisible Armor" of Aircraft Skin: Hat-shaped Stiffened Panel Structure In the wing and fuselage of the aircraft, the hat-shaped stiffened panel is a key load-bearing structure, as shown in Figure 3. In traditional processes, the connection point between the stiffener and the skin (R area) is prone to cracking due to stress concentration. The research team has significantly improved performance through two innovations: 1. Filling the R area: Filling the gap with prepreg strips to avoid stress concentration caused by wrinkles; 2. HTRR enhancement: Adding PEEK film at the R area and connection points to bond the interface like "glue." Figure 3. Hat-shaped reinforced wall panel The optimized effect is significant; the samples without filled R zones fractured directly, while the optimized structure could bear loads in stages, with ductility increased by 118%. The failure mode changed from "brittle delamination" to "ductile interlayer," as if the aircraft were wearing an "invisible armor" that could self-repair. Perhaps in the near future, the airplanes we fly in, the cars we drive, and even the smartphones in our hands will all use this "recyclable armor." All of this comes from the relentless exploration of the microscopic world of materials by scientists.

On July 17, 2025, polyester fiber industry giant Xinfengming (603225) announced that the company intends to increase its investment in Hefei Lif Biotechnology Co., Ltd. by 100 million yuan, after which it will hold a 7.0175% stake in the company. This capital marriage is not only a key layout for Xinfengming's strategy of "greening, differentiation, and innovation," but also marks a new stage in the industrialization process of bio-based polyester materials in China. Relying on Livan Bio's technological accumulation in the field of FDCA (2,5-furandicarboxylic acid), the two sides have previously achieved large-scale production of 100% bio-based polyester PEF filaments, providing a feasible technological path for the green transformation of the textile industry. 1. The logic behind investment: breaking through homogeneous competition. The recent investment by Xin Fengming is not a coincidence. As a global leader in polyester fiber with a total market value of 17 billion yuan, its traditional main business is facing increasing pressure from intensified homogenization competition. Biobased materials are seen as an important direction to break through this "involution." The announcement clearly states that the core goal of the investment is to explore the application of PEF in high-end biobased fibers and green packaging through Livi's FDCA technology, which aligns closely with Xin Fengming's strategy of "consolidating traditional businesses + laying out emerging industries." The core value of Lifeng Biotechnology lies in its technological barriers related to furan-based biobased materials. Since its establishment in 2014, the company has focused on the research and development of FDCA and its downstream product PEF. It has built the world's first kiloton-level FDCA production line and a hundred-ton level continuous production line, with a ten-thousand-ton production line under construction expected to be operational by the end of 2025, which will make it the largest FDCA supplier in the world. More importantly, its technological pathway has broken through industry bottlenecks—by using the "glucose-HMF-FDCA" process, it has eliminated dependence on expensive raw materials, and the product purity reaches 99.99%, with polymerization performance leading the industry. This technological advantage is directly reflected in the valuation logic: Liv Bio's post-investment valuation after the B1 round in 2023 was 768 million yuan, the pre-investment valuation reached 1.2 billion yuan, and the post-investment valuation has now exceeded 1.5 billion yuan. The announcement explains that the increase in valuation is supported by four core factors: the maturity of the continuous process using glucose as raw material, the globally leading quality of FDCA, the delivery capability advantage brought by the ton-level production line, and a clear cost reduction path—FDCA prices are expected to drop to 50,000-60,000 yuan/ton by 2025, and further down to 20,000-30,000 yuan/ton after 2027, gradually approaching the cost of petroleum-based raw materials. 2. Technical breakthroughs + capital support, PEF is about to be industrialized. Biobased polyester PEF is regarded by the industry as the best alternative to petroleum-based PET. Its chemical structural similarity to PET means it is compatible with existing production equipment, while its performance advantages are more significant: in addition to the low carbon attributes brought by being fully biobased, PEF fibers exhibit outstanding performance in moisture absorption and quick drying (with moisture absorption rates over twice that of PET) and natural antibacterial properties (with an antibacterial rate exceeding 99%). This makes it highly applicable in fields such as activewear and medical textiles. Image source: Livzon Biotech The breakthrough in large-scale mass production is the result of the combination of Xin Fengming's industrial capabilities and Lifu Biotechnology. Lif Biotech provides core raw material assurance: its FDCA products have a purity of 99.99%, exhibiting more stable reactivity during the polymerization process, laying the foundation for the physical properties of PEF filaments. Xin Fengming contributed mass production experience: As a polyester production expert, it solved process challenges such as melt fluidity and stretching and shaping in the PEF spinning process, transforming laboratory technology into industrial production capacity. According to OECD forecasts, by 2030, biobased products will replace 25% of the organic chemicals market. As a biobased material closest to PET, PEF is expected to rapidly penetrate fields such as textiles and packaging. Through this investment, Xin Fengming secures FDCA supply, effectively obtaining a "ticket" to the industrialization of biobased materials in advance. Opportunities and challenges coexist, and Livzon Bio is continuously in the red. Despite the promising prospects, this cooperation still faces numerous challenges. The announcement clearly outlines three major risks: 1. Market uncertainty: The acceptance and price sensitivity of bio-based materials still need to be tested by the market; 2. Production line commissioning risk: If Liv Bio's 10,000-ton FDCA production line cannot be put into operation on schedule, it will affect the scale-up process of PEF; 3. Profitability cycle issue: Liv Bio has been continuously losing money since its establishment (net profit of -55.3137 million yuan in 2024 and net profit of -13.3683 million yuan from January to March 2025), making it difficult to contribute profits to New Feng Ming in the short term. However, as technology continues to mature, these risks are gradually being mitigated. LivBio's losses are mainly due to early-stage R&D investments, but with the production of the ten-thousand-ton line and cost reductions, profit expectations are clear; New Fengming also controls risks through a "stakeholding rather than controlling" approach, while retaining flexibility for technological collaboration. More importantly, both parties have formed a closed loop of "technology R&D - raw material supply - mass production": LivBio is responsible for reducing FDCA costs, while New Fengming is responsible for expanding PEF application scenarios. This division of labor model provides sustainable driving force for industrialization. 4. FDCA industry financing heats up, capital races in the biobased track. FDCA, as a core raw material for bio-based polyesters, has become a hot track for capital competition. From the perspective of industry financing, multiple companies have received capital injection at different stages: Lif Biological has recently received 100 million yuan in a C-round financing from New Fengming; Tangneng Technology is expected to complete a B+ round financing in 2024, although the amount is unknown, it has support from Zhoushan Financial Capital and Daishan Investment Group; Zhongke Guosheng secured 200 million yuan in an A+ round financing in March 2025, with participation from CITIC Jinshi and PwC Capital; Yunshang New Materials, Saierke, and Yujun Bio have also respectively gained capital favor at the angel+ and B round stages. Behind the capital-intensive layout is a long-term optimism for bio-based materials to replace petroleum-based materials. Different rounds of financing reflect the development stages of enterprises: angel rounds focus on technology validation, A/B rounds promote capacity landing, and C rounds accelerate industrialization expansion. Xin Fengming's investment in Lifu Bio is not only an extension of its own strategy but also aligns with the rising trend of financing in the FDCA industry. By leveraging capital, it aims to deepen its bio-based polyester layout and work together with other companies in the industry to advance the FDCA-PEF industrial chain from technology development to large-scale application, seizing opportunities in the green materials revolution. With the production line of Livzon Bio's 10,000-ton FDCA coming online and the expansion of PEF application scenarios, this investment, which began with technological cooperation, is expected to reshape the global polyester material competition landscape. As stated in the announcement, this is not only a choice for enterprises to seek new momentum but also a practice to "contribute new quality power for the green development of the global textile fiber industry."

Title: Classification and Research and Development Application Status of Biodegradable Mulch Film Source: Journal of Agricultural Environmental Sciences, 2024, 43(6): 1278-1287. Authors: Zhang Mingming, Zhou Yingxin, Chen Jingwen, Xu Jun, Xu Jing, Sun Chitao, Weng Yunxuan, Tan Zhijian, Xu Lei, Mi Qinghua*, Guo Baohua* Note: This article is an excerpt published in June 2024, and the related data may be outdated. 1. Production situation of biodegradable films Currently, China is the largest producer, seller, and user of biodegradable films in the world. In the first half of 2023, China had more than ten thousand tons of biodegradable film production and sales, with seven companies producing over one thousand tons. These companies are Shanghai Hongrui Biotechnology Co., Ltd., Shandong Jinan Xin San Plastic Industry Co., Ltd., Henan Yinfeng Plastic Co., Ltd., Qingdao Haiyi Plastic Co., Ltd., Gansu Lanzhou Xinyin Huan Rubber and Plastic Products Co., Ltd., Yunnan Kedi Plastic Co., Ltd., and Jinan Tianyi Plastic Co., Ltd. The company with the highest production and sales is Shanghai Hongrui Biotechnology Co., Ltd., and the province with the highest production and sales is Shandong Province. After 2024,Shandong Blue Ocean Crystal Technology Co., Ltd.A newcomer in the agricultural film industry, the company has received orders exceeding 10 million yuan for agricultural film in the first half of 2025. The main raw material PBAT for biodegradable film is priced at 12,000 to 13,500 yuan per ton, while the special blow film material is priced at 15,000 to 18,000 yuan per ton. The factory price for different specifications of film ranges from 21,000 to 25,000 yuan per ton, and the market retail price ranges from 24,100 to 26,800 yuan per ton. Based on the above factory prices and retail prices, the cost of using the film for farmers is shown in the table below. Currently, the production capacity of hemp mulch made from plant fibers in China exceeds 50,000 tons. Its derivative seedling film has shown significant promotional effects in the cultivation of rice and rapeseed seedlings, with low investment and high output. However, in recent years, the rising prices of hemp fiber raw materials have led to increased production costs, which in turn limits its application in mulch. Paper mulch and other plant fiber mulches are mostly still in the research and development or initial promotion stages. The main factors restricting their application include high production costs, poor resistance to wind and rain, and high water vapor permeability. 2. Application of biodegradable film Biodegradable plastic film has been widely tested and demonstrated in the country. According to the research team from the Ministry of Agriculture and Rural Affairs on the "Current Status and Characteristics of Research and Application of Degradable Plastic Film," In the first half of 2023, the demonstration and promotion area of biodegradable film has exceeded 100,000 hectares. The main crops demonstrated include potatoes, sweet potatoes, taro, corn, rice, peanuts, sunflowers, cotton, vegetables (cucumbers, bitter gourds, loofahs, tomatoes, eggplants, garlic, peppers, green beans, kidney beans, radishes, cabbages, asparagus, etc.), tobacco, melons, pineapples, and others. The region with the largest demonstration application area is Inner Mongolia. Biodegradable plastic film generally increases yield compared to PE plastic film in the application of medium- and short-growth-cycle crops. The use of black biodegradable plastic film on crops like rice has shown significant effects in terms of weed control and yield increase. It has also shown notable yield improvements in underground tuber crops. Research by Cheng Wanli et al. indicates that, compared to PE film, the use of biodegradable plastic film in the Hexi irrigation area increased potato yield by 13.64%. He Pengcheng et al. compared the effects of different biodegradable films on potato yield, and the results showed that the yield increase with biodegradable plastic film compared to PE film could reach 15.76%. 3. Existing Problems Biodegradable mulch films have made significant contributions to ensuring the safe supply of agricultural products in China and protecting the ecological environment. However, in the process of practical promotion and application, biodegradable mulch films still face a series of challenges and issues. (1) Insufficient research on adaptive matching. The performance of biodegradable mulching film is influenced by various factors, including material composition and application environmental conditions. Different regions, crops, and seasons have varying functional requirements for mulching films, such as moisture retention, temperature maintenance, breathability, weed suppression, and pest repellent. Currently, there is a lack of crop-specific biodegradable mulching films that precisely match performance and functionality. (2) The low-cost modification and performance regulation technology needs to be improved. Compared to traditional polyethylene (PE) film, the cost of biodegradable film is about twice as high, and its moisture retention, thermal insulation, and weather resistance properties still need enhancement. There is an urgent need to develop high-performance, low-cost biodegradable materials and modification technologies. (3) The technical standards for the entire chain are urgently needed to be improved. Although China has established product standards for fully biodegradable agricultural ground cover films, the comprehensive technical standard system that covers the entire chain—from the production, sales, and use of biodegradable films to degradation monitoring and residue treatment—is still in need of improvement. At the same time, there is a lack of product and application technology standards for biodegradable films that are specific to certain regions and crops. (4) The awareness of scientific applications is not high. The application of biodegradable film not only addresses the issue of film pollution at the source but also reduces the costs associated with film recovery. However, the awareness and acceptance of the scientific application technology of biodegradable film among the majority of farmers still need to be improved. There is a need to further strengthen the training, publicity, and promotion of biodegradable film application technology. (5) Supporting policies, regulations, and management measures are still not sound. At the national level, relevant policies and regulations have been established to encourage and support the research, production, and use of biodegradable plastic films, but local supporting regulations and policies are not yet sound, including ecological subsidies, tax incentives, and other incentive mechanisms, as well as strict quality control of biodegradable plastic films and supervision systems for non-standard films. 4. Countermeasures and Suggestions The promotion and use of biodegradable film in our country has received full recognition from society and has achieved important phased results. However, it is necessary to further improve policies, regulations, and systems, as well as the demonstration and promotion system. We should increase innovation and demonstration support, enhance promotion training and publicity efforts, expand the pilot scope based on the existing pilot provinces and cities, and take the following relevant measures: (1) Improve policies, regulations, and management measures. It is recommended that relevant departments enhance support policies for biodegradable film, strengthen market supervision of non-standard films, and regulate the main raw materials, relative biodegradation rates, thickness, tensile properties, light transmittance, ecological toxicity tests, and field usage of biodegradable films; establish management measures and work mechanisms for regular inspections of product production, field applications, and soil health; prohibit the use and promotion of photodegradable films; strengthen the precise matching of scientific usage funding for plastic films with local crop needs; implement management measures such as a production license or access system for biodegradable film, a factory sales usage ledger system, and a government promotion subsidy tendering system; ensure traceability of products through coding; standardize the use of national financial project funds, enhance the timeliness and supervision of fund allocation, and avoid additional costs and price differences due to delays in fund disbursement. (2) Strengthen the investment in the production capacity of new biodegradable film. In response to the issues of mismatched coverage needs of biodegradable film products with crops, seasons, and regional characteristics, optimize resource allocation, enhance research and development of specialized materials for biodegradable film, low-cost modification, and processing innovation technologies. Conduct supporting research on the scientific application of biodegradable film in different regions, for different crops, and in different seasons, continuously extending the innovation chain and improving the industrial chain; establish a scientific and effective monitoring and evaluation system for the application of biodegradable film, and strengthen the scientific application of evaluation results; enhance the investment from governments at all levels and enterprises in the research and development and application demonstration of biodegradable film technology. In pilot projects for the scientific application of film, support research on film functions and agronomic machinery matching, regional application technologies, etc., at a certain percentage of the funding; guide enterprises to independently invest in related technology research and development and application demonstration work, forming new productive forces brought by the application of biodegradable film technology. (3) Establish a full-chain technical standard and application regulations. Improve national standards for special materials for biodegradable film, product industry standards, and local application standards. Encourage and guide enterprises to formulate product enterprise standards in the production of film, establish a product traceability system, and standardize the preparation of product usage manuals. In the packaging and storage phase, develop corresponding requirements based on the performance characteristics of different biodegradable films. In the field application phase, establish application guidance manuals and technical regulations for film usage in different regions and for different crops, to guide the scientific and standardized application of biodegradable films. (4) Strengthen popular science and publicity efforts. Multiple departments should work together to utilize radio, television, and new media to enhance the promotion of the significance and technology of biodegradable film applications; agricultural technology promotion departments at all levels and research and production units should collaborate to develop training lesson plans and promotional materials for the scientific use of film, actively conducting training and experience exchange activities for planting enterprises, cooperatives, large-scale farmers, and agricultural technicians on the application of biodegradable film, to improve the awareness and acceptance of relevant personnel regarding biodegradable film.

On July 17, Hong Kong stocks related to new consumption continued to decline. As of the time of reporting, Pop Mart (09992.HK) fell by over 2.5%, with a transaction volume exceeding 3.2 billion Hong Kong dollars, and the latest market value is 330.6 billion Hong Kong dollars. According to Caixin, on the first trading day after Pop Mart released a positive profit forecast announcement (July 16), the number of shares sold short surged to 2.4956 million, more than six times the 342,000 shares on the previous trading day (July 15), reaching a new high since June 20. Goldman Sachs pointed out in its latest research report that although Pop Mart's performance exceeded the general expectations of sell-side analysts, it may only "roughly meet" the high expectations that buy-side investors had previously raised to very high levels. JPMorgan noted that the net profit growth forecasted by Pop Mart actually falls at the lower end of the previous buy-side expectation range (approximately 4.5 billion to 5.5 billion yuan). Looking back at the development trajectory of Pop Mart, from January 2, 2024, to now, its stock price has increased by over 1000%, with an increase of nearly 200% in 2025 alone. In the first quarter of this year, Pop Mart's performance has shown explosive growth. On April 22, it announced that its overall revenue for the first quarter of 2025 increased by 165%-170% year-on-year, with revenue in China increasing by 95%-100% and overseas revenue increasing by 475%-480%. In terms of revenue by region, the Asia-Pacific (referring to countries and regions in Asia and Oceania excluding China) increased by 345%-350% year-on-year, the Americas increased by 895%-900%, and Europe increased by 600%-605%. At the annual performance briefing held in April, Pop Mart's Chairman and CEO Wang Ning stated that the company's performance growth in 2024 exceeded expectations, mainly due to the successful implementation of its internationalization strategy, which has become the second growth curve for the company. Looking ahead to 2025, the management team is full of confidence, planning to achieve a year-on-year sales growth of over 50% based on the high base in 2024, with overseas sales expected to grow by over 100%. The goal is to reach an overall sales amount of 20 billion yuan, with overseas sales exceeding 10 billion yuan. The expansion of plastic demand behind the tide of trendy toys. The astonishing growth curve of Pop Mart has directly driven a massive demand for high-end plastic materials. The products rely on materials such as PVC and polypropylene.Safety, plasticity, environmental protectionWith stringent standards, the production of plastic products in China has reached 2024.77.076 million tonsThe export value has surpassed the 100 billion US dollar mark.The rise of high-value-added consumer products like Pop Mart is forcing the upstream materials to upgrade. It is particularly noteworthy that Pop Mart's overseas revenue has experienced explosive growth, and its products must comply with strict standards such as the EU REACH regulations. This directly drives the demand for environmentally friendly plasticizers—medical-grade epoxy soybean oil and citrate plasticizers are growing rapidly in the market.8.5%​The average annual growth rate of the expansion is expected to exceed the scale by 2030.12 billion yuan​。 The growing pains of industrial transformation under high environmental pressure. With the global "plastic restriction order" escalating, traditional plastic enterprises are facing a life-and-death test. ​Policy-driven pressureChina's "Plastic Pollution Control Action Plan" clearly restricts highly toxic plasticizers, while the EU REACH regulation establishes high trade barriers. ​Rising costsIn 2025, the industry average gross profit margin will drop from 18% to 15%, and the net profit margin will fall below 6%, putting significant pressure on small and medium-sized enterprises. ​Technical BreakthroughLeading companies like Wanhua Chemical and Jinhai Technology are seizing the opportunity by developing bio-based materials. Jinhai Technology's net profit in the first half of 2025 is expected to grow by 45% to 71% against the trend. The shortcomings of the plastic recycling system have highlighted the urgency of transformation. Currently, the recycling costs are high and the application rate of recycled materials is low, and the industry's circular economy is still in a state of "The road is long and difficult."the critical stage of the battle"。 The polarized industry differentiation of ice and fire. The performance of plastic enterprises in 2025 shows dramatic differentiation. This differentiation confirms the structural transformation in the industry—high-end products can achieve a gross profit margin of over 30% (such as Wanhua Chemical), while general-purpose plastics are mired in a surplus of production capacity. The operating rate of the polypropylene industry has already fallen below70%​However, specialty materials such as metallocene polypropylene and ultra-high transparency polypropylene are still in short supply. Technological breakthroughs lead to the reshaping of industry chain value. The path to a breakup has become clear. ​Biobased alternativesLiancheng Chemical's bio-based plasticizer production capacity will double to 200,000 tons/year, and Wanhua Chemical is planning a citric acid ester production line. ​Specialized breakthroughThe demand for anti-impact copolymer polypropylene driven by new energy vehicles will see the share of environmentally friendly plasticizers in the automotive sector reach 2030.35%​​ ​Digital cost reductionEnterprises that use AI to optimize production have reduced procurement costs.5%-8%​Relieve the pressure of raw material price fluctuations. The stringent requirements of Pop Mart and others for food-grade safety standards and low-carbon materials are being transmitted through the industrial chain, pushing plastic companies from "Price competition"Turn"Technical competition”。 Future Vision: The Double Helix of Green and High-End When Pop Mart plans to achieve in 202520 billion in salesAt this time, behind it is a demand for high-end plastic materials worth hundreds of billions; as Wanhua Chemical accelerates the development of bio-based polyurethane at its R&D center, the upgrading bottlenecks in industries such as trendy toys, healthcare, and new energy are being broken one by one. The future of the plastic industry depends on whether it can...Environmental compliance Technology premiumFind a balance in between. Just as the polypropylene industry has opened up high-end markets through metallocene materials, China's plastic processing industry is now at a point of...World Factory"toward"Source of Innovation"The critical point of the leap. This green revolution is not only related to the survival of enterprises but will also reshape the competitive landscape of global industrial chains."

In recent years, the competition within the textile industry has intensified, and this year it has faced unprecedented internal and external challenges. It is clear to anyone with insight that limitless competition will only harm the industry, and even the last ones standing may not necessarily emerge as the winners.   Unprecedented wave of production shutdowns This summer, the textile industry experienced an unprecedented wave of production stoppages. In recent years, regions with rapid capacity growth, such as Xinjiang, northern Jiangsu, and Henan, have already seen significant shutdowns. These shutdowns also include some machines that were recently put into operation in the past two years, which have higher profitability than older machines and face substantial cost recovery pressure. They will only choose to shut down as a last resort. Some traditional textile clusters in the Yangtze River Delta region are relatively better off, with smaller scales of production stoppages. These companies have been operating for many years, so their customer base and product sales channels are relatively more stable. They also have a certain level of technological accumulation, allowing them to produce higher-end products, but there are still some measures in place to reduce production. According to normal market trends, this wave of production halts is expected to last for at least another month.   Unprecedented external challenges In addition, the black swan events that have occurred from time to time over the years, along with the increasingly advanced textile industry overseas, have brought unprecedented challenges to domestic textile enterprises. In terms of tariffs, the indiscriminate taxation imposed by the United States on the entire world is something that most people did not anticipate. As one of the most important textile consumption markets globally, the U.S. has universally increased tariffs on all textile-exporting countries. This not only has a significant impact on clients in the U.S., but also affects businesses engaged in domestic trade and those in other countries whose impact was originally minimal. When the U.S. reduces its orders, the companies that previously relied on U.S. orders will compete in other markets, driving prices lower and lower. In terms of shipping, the Red Sea crisis has not only increased freight costs due to the need to detour around the Cape of Good Hope, but it has also lengthened the shipping time, resulting in delays in the recipient receiving their goods. This, in turn, has effectively extended the payment terms and compressed cash flow. In terms of homomorphic competition, the textile industry in Southeast Asia and Central Asian countries has experienced rapid development in recent years and is naturally not satisfied with merely being an OEM. They are beginning to extend upstream and downstream in the industrial chain. If it comes to direct competition, Chinese enterprises are certainly not afraid, but they will also want to protect their domestic industries. This year, India has implemented restrictions on the import of Chinese textile machinery.   The survivor is not necessarily the king. There is a saying in the market: "The remaining ones are kings." It means that in the end of competition, the surviving enterprises can capture most of the market and become the winners. In the past few decades, there have been many examples of textile companies that turned around with just a few orders when they were in dire straits, so many textile companies hold on to this idea as well. Many textile enterprises are holding on, thinking that if they endure this period, everything will get better. But times have changed; in the current situation, merely surviving does not guarantee success. Currently, in the textile market, the production capacity of conventional products is the least valuable, and it is very difficult to eliminate this capacity. This surplus situation is expected to continue for a long time. Under the conditions of excess capacity, even if the market really shows signs of recovery, unless there are some companies that have already established a competitive advantage in certain aspects, it will be very difficult for most textile enterprises to earn excess profits.   The urgency to combat involution is imminent. In March of this year, the government work report explicitly emphasized the need to adjust the competition characterized by "involution"; on June 27, the new "Anti-Unfair Competition Law" was revised and will come into effect on October 15 of this year; on July 1, the Central Financial Committee meeting again proposed "anti-involution" competition, addressing the issue of chaotic low-price competition among enterprises and promoting the orderly exit of backward production capacity. On the same day, the magazine "Qiushi" published an article titled "Deeply Understand and Comprehensively Rectify 'Involutionary' Competition." The article states that "involutionary" competition confines various entities to a low-price, low-quality, and ineffective competition, breaking through the boundaries and bottom lines of market competition, disrupting market order, and allowing its development will lead to endless harm. In the case where the market's self-regulation fails, it is hoped that administrative measures can bring the textile industry back to a healthy development track.

The world's oldest toy store, Hamleys, recently announced its full-year results for 2024. Despite a challenging environment, company closures, and layoffs, performance has actually improved. Performance recovery in 2024 After a 9.19% drop in sales in 2023, Hamleys finally made a comeback in 2024. As of December 31, 2024, Hamleys' total sales for the year reached £53.3 million (approximately 510 million RMB), an increase of 3.69% compared to £51.4 million in 2023. Moreover, the pre-tax profit soared from a meager £673,000 in 2023 to £3.7 million in 2024 (approximately 35.68 million RMB), growing more than fivefold. In terms of regions, the performance in Europe is good, while the global regions are sluggish. Specifically, the revenue from the UK headquarters increased by £2 million from £43.9 million in 2023, reaching £45.9 million in 2024, accounting for 86.12% of the company's total revenue; the revenue from the rest of Europe surged from £166,000 in 2023 to £832,000 in 2024; however, the revenue from other global regions declined, decreasing from £7.3 million in 2023 to £6.5 million in 2024. The night-time foot traffic at Hamleys' UK store is quite considerable. Efforts to adjust store layout Behind this performance growth is the adjustment of cost reduction and efficiency improvement by Hamleys. In 2024, Hamleys closed 29 underperforming stores worldwide throughout the year, but during the same period, it also opened 22 new stores, indicating its adjustment in store location strategy. Currently, there are 11 stores operating in the UK and a total of 176 franchised stores globally. According to Hamleys' official website, there are 8 stores in China. At the same time, the company made personnel adjustments, laying off 34 people, and the current number of employees is 401. The Hamleys board stated in a statement: "The revenue growth in 2024 is mainly driven by franchise fees, and we are optimistic about the introduction of new areas and the growth in existing regions." Hamres will open a flagship store in 2024 in collaboration with local partners in Italy. Entering 2025, the Hamleys board believes that the UK retail market remains challenging as consumer spending continues to be affected by inflationary pressures. Therefore, the company maintains a cautiously optimistic outlook on business growth and continues to focus on cost optimization to ensure the group's profitability. At the same time, the Hamleys board stated: "We will continue to strive to improve various forms of customer experience and propositions to ensure the long-term sustainability of the business. We remain focused on finding future growth opportunities, and implementing a robust digital strategy is a key growth driver for the UK in 2025." Destined for misfortune, experienced multiple changes of hands. Hamleys is the oldest toy store in the world, founded in 1760. It has withstood global economic recessions and the ravages of world wars, boasting a history of 265 years, though it has changed hands multiple times. In 2003, the Icelandic investment firm Baugur Group privatized Hamleys for £47.4 million. In 2012, it was transferred to Groupe Ludendo for 60 million pounds. In 2015, it was acquired by the Chinese company Qianduoduo for 100 million pounds. In 2018, it was sold for £70 million to Reliance Industries, the largest in India and the second-largest private enterprise in the world, transforming from an authorized operating partner in India to the parent company, continuing to this day. Currently, India is also the country with the most Hamleys stores globally. According to the official website, there are over a hundred stores of all sizes combined.

In the aerospace field, lightweight design has always been the core direction of technological breakthroughs. In traditional manufacturing processes, the solvent-based release agents used in the demolding process can meet basic functions but also bring issues such as excessive VOC emissions, high surface defect rates, and limited production efficiency. The rise of water-based release technology has made a dual breakthrough in environmental protection and functionality, providing a revolutionary solution for reducing weight and enhancing performance in aircraft. Technological Innovation: The Transition from Solvent-Based to Water-Based Solutions Water-based release agents use water as the dispersing medium and employ nano-emulsion technology to evenly disperse active ingredients, forming a dense and stable separation film. Compared to traditional oil-based release agents, their core advantages are reflected in three aspects:Environmental Friendliness: The water-based system reduces VOC emissions by over 90%, completely avoids flammability risks, and complies with EU REACH regulations and China's "dual carbon" strategy requirements. Measurements from an integrated die-casting production line of an automotive company show that after switching to a water-based release agent, the total non-methane hydrocarbons concentration in the workshop dropped from 120 mg/m³ to 15 mg/m³.Surface quality control: The emulsion particle size is controlled to be below 0.6μm, ensuring coating uniformity. In the manufacturing of composite materials for aircraft skins, this technology reduces surface porosity by 70%, significantly decreasing subsequent repair processes and indirectly achieving structural weight reduction.Process compatibility: The non-curing feature shortens mold preparation time by 80%. Combined with a micro-spray system, a single coating can support over a hundred release cycles, significantly improving production rhythm. Weight loss mechanism: multidimensional efficiency enhancement Water-based release technology achieves weight reduction goals through three main pathways:Material utilization optimization: Precise demolding reduces edge waste, resulting in an increase in material utilization from 82% to 93% in the production of a certain type of helicopter rotor component, with a weight reduction of 4.7 kg per component.Structural simplification: In conjunction with integrated die-casting technology, a water-based release agent addresses the demolding challenges of ultra-large components. A die-cast part for a certain new energy vehicle's rear floor has achieved the integration of 74 components, reducing weight by 30% while maintaining a demolding success rate of 99.2%.Performance compensation design: Low transfer characteristics avoid the impact of release agent residue on the interlaminar bonding of composite materials, allowing designers to reduce redundant thickness by 3%-5%. In the manufacturing of satellite structural components, this technology optimized the thickness of carbon fiber laminates from 2.8mm to 2.3mm, achieving an overall weight reduction of 18%. Industry Applications: Breakthroughs from Laboratory to Production Line Precision component machining: Nanocellulose-enhanced coatings achieve sub-micrometer surface accuracy in the manufacture of satellite optical instrument supports, replacing traditional graphite coatings, reducing weight while improving thermal control performance. Future Vision: The Integration of Intelligence and Sustainability The evolution of technology presents three major trends:Responsive material development: Thermosensitive release agents can automatically adjust their lubricity according to the mold temperature, maintaining stability within a wide temperature range of -40°C to 200°C, suitable for flexible production line needs.Biobased raw material substitution: A third-generation water-based release agent based on starch derivatives has completed pilot testing, achieving a biodegradation rate of 92%. Commercialization is expected by 2028.Digital Twin Integration: Real-time monitoring of release agent film thickness and status through IoT sensors, combined with AI algorithms to predict mold maintenance cycles, has achieved a 65% reduction in downtime on a pilot production line. Water-based release agent technology not only redefines the environmental baseline of manufacturing processes but also opens up new weight reduction opportunities for aircraft design through the deep integration of materials science, surface engineering, and intelligent control. With breakthroughs in cutting-edge technologies such as nano-modification and bio-based materials, this green process will continue to drive aerospace manufacturing towards being lighter, stronger, and more sustainable.

On July 15, 2025, Medtronic announced that its LigaSure RAS vascular sealing technology for robot-assisted surgery received CE mark certification from the European Union, marking the official entry of this mature vascular sealing technology into the European robot surgery market, to be used in conjunction with Medtronic's self-developed Hugo soft tissue robotic system. LigaSure RAS  This certification further enhances the application capabilities of the Hugo system in multiple surgical procedures, including gynecology, urology, and general surgery, and fulfills Medtronic's commitment to integrating advanced closure technology into the robotic platform. A doctor works at the console of the Medtronic Hugo robotic surgical system. 01 LigaSure technology: 25 years of market validation, first entry into the robotic surgery field. LigaSure is currently the most widely used advanced bipolar energy surgical sealing technology in the world. Since its launch, it has been used in over 35 million surgeries across 65 countries/regions. This technology can achieve precise closure of blood vessels, tissues, and lymphatic vessels under 7mm in about two seconds, while minimizing thermal spread to surrounding tissues, making it highly favored by surgeons. LigaSure series products The LigaSure RAS (Robotically Assisted Surgery) version that has obtained CE certification is specifically designed to be used with robotic-assisted surgery and can be connected to Medtronic's energy platform Valleylab FT10, further enhancing operational efficiency and closure safety in robotic surgery. 02 Experts and executives evaluate: giving robotic surgery higher closure confidence. Surgeon Miguel Caceres from Panama Pacifica Salud Hospital stated, "LigaSure technology is one of the most significant advancements in minimally invasive surgery, giving us confidence in the safety of sealing. As robotic surgeons, we hope that the Hugo system will also have this technology." Matt Anderson, Senior Vice President and President of Medtronic's Surgical business, pointed out: "The approval of LigaSure RAS is a key step in fulfilling our commitment. This is not just about technological integration, but also a positive reflection of our collaboration with surgical teams to shape the future of surgery together." 03 Medtronic Hugo Robot System Progress The Hugo system received its first CE certification in Europe in 2021 and has been implemented in over 30 countries worldwide. Medtronic stated that it expects to launch the Hugo system in the U.S. market by fiscal year 2026 (ending April 2026). The indications for the procedure are urological surgeries, with plans to expand to gynecology and hernia among other fields. In addition, Medtronic also plans to conduct remote surgery demonstrations based on the Hugo system and share the latest clinical data results of gynecological procedures at the recently held annual meeting of the Robotic Surgeons Association.

In recent days, many places across the country have been experiencing high temperatures, making it unbearably hot. After sweating, clothes stick to the body, making it extremely uncomfortable. Is there a magical fabric that can make a person feel instantly cool when worn? Some brothers are there! It is——polylactic acid (PLA) fiber, a magical fiber from nature, known as "breathable fiber" by people. Today, let's have a good talk about polylactic acid (PLA) fibers and see how they bring us coolness in the scorching summer. Where does polylactic acid fiber come from? The raw materials for polylactic acid fibers are starchy agricultural products such as corn, wheat, and sugar beets. These agricultural products undergo fermentation to produce lactic acid, which is then processed through a series of complex techniques such as polymerization and melt spinning, ultimately transforming into the polylactic acid fibers we see. It can be said that polylactic acid fibers are fibers "grown" from the fields, and their birth process is filled with the wonders and wisdom of nature. From the perspective of sustainable development, the raw material sources for polylactic acid fibers are very abundant and can be continuously obtained through cultivation. When polylactic acid fibers are discarded, they can completely decompose into carbon dioxide and water in nature, unlike traditional chemical fibers, which impose a heavy burden on the environment. This characteristic of coming from nature and returning to nature makes polylactic acid fibers truly deserving of the title "green and environmentally friendly fibers." Why can polylactic acid fibers bring a cool feeling? Polylactic acid fibers have excellent moisture-wicking and breathability, which is one of the key reasons they can keep people feeling cool in the summer. Its surface has many tiny grooves and holes, and these microscopic structures act like countless tiny "highways," quickly guiding the sweat from the skin surface to the fabric surface, allowing the sweat to evaporate rapidly.   In comparison, ordinary cotton fabrics can absorb sweat, but the diffusion speed of sweat on cotton is relatively slow, and the evaporation is not fast enough, so wearing it often feels damp. In contrast, clothing made from polylactic acid fibers can quickly diffuse and evaporate sweat, keeping the fabric dry and making people feel particularly cool.   The thermal conductivity of polylactic acid fibers is also relatively low. Simply put, it is like building an insulating barrier for our body, effectively blocking the invasion of external heat. At the same time, when our body generates heat, polylactic acid fibers can promptly dissipate this heat, keeping our body temperature within a comfortable range. Antibacterial, mite removal, allergy prevention In addition to providing coolness in the summer, polylactic acid fiber has many other amazing properties. It has natural antibacterial, anti-mite, and anti-allergic capabilities. Polylactic acid fibers are weakly acidic, similar to the pH of the skin, and can slowly release lactic acid, which helps to remove dead skin cells, promote epidermal metabolism, and aid in collagen growth. In the clothing field, the application of polylactic acid (PLA) fibers is becoming increasingly widespread. Many sports brands have launched athletic apparel containing PLA fibers, such as T-shirts, shorts, and sports underwear. These sports garments not only possess excellent sweat-wicking and quick-drying properties, allowing athletes to stay dry during exercise and improve performance, but they also offer good comfort and breathability, making athletes feel more at ease while exercising. In the home textile field, polylactic acid (PLA) fiber also performs excellently. Quilts made from PLA fiber have good warmth retention and breathability, keeping you warm and comfortable in winter and preventing stuffiness in summer. Additionally, the natural antibacterial properties of PLA fiber help keep the quilt clean and hygienic, reducing the growth of dust mites, making it particularly suitable for individuals with allergies. How to choose products made of polylactic acid fiber When selecting products made from polylactic acid fiber, we can confirm by checking the product label. Generally, legitimate products will clearly state the composition on the label, and those containing polylactic acid fiber will be explicitly marked as "Polylactic Acid (PLA)" or "Corn Fiber" (polylactic acid fiber is also commonly referred to as corn fiber). Additionally, we can feel the texture of the product by touch and observation. Polylactic acid fiber products typically have a soft, smooth feel, and the fabric has a certain degree of luster. Although polylactic acid fibers have many advantages, they are not without flaws. Currently, the price of polylactic acid fiber products is relatively high, which somewhat limits their popularity. However, with the continuous advancement of technology and the expansion of production scale, it is believed that in the near future, the prices of polylactic acid fiber products will become more affordable, allowing more people to enjoy the comfort and health benefits they bring.

The space for differentiation in the main materials of outdoor footwear and clothing with the same positioning is becoming increasingly small. Decorative elements can become one of the carriers of differentiation. Silk screen printing Source: naturalcosmeticlabs Suitable for LOGO. Uses water-based or Plastisol ink; single or multiple color printing, followed by heat transfer for color fixing. The Nike ACG Walk Tree T-Shirt features a large natural theme print on the front, with a soft and breathable feel, making it suitable for urban outdoor mixing and matching. Source: static.nike Polyester/nylon embroidery thread, high stitch count flat embroidery or layered three-dimensional embroidery; or back hot melt film shaping. Commonly used for logos. The classic hard-shell "Arc'teryx Beta AR" front "Arcteryx" embroidery is wear-resistant and does not affect the fabric's waterproof and breathable threshold. Heat transfer label PU/TPU hot melt film, after digital printing or silk screen printing, is heat pressed at high temperatures; suitable for lightweight elastic fabrics. The Moncler reflective heat transfer badge series (such as Waffle Knit sweaters) is widely used in the urban outdoor line and maintains flexibility at low temperatures. Silicone / PVC 3D label Liquid silicone is high-temperature vulcanized or poured into PVC, allowing for a 0.8-2 mm three-dimensional layer; the back is equipped with hot melt adhesive/sewing line groove. The Columbia × Star Wars “Skywalker Pilot” ski jacket features raised silicone communication badges and branding, enhancing the sci-fi attributes while being resistant to low-temperature bending. Woven label / Flag label High-density jacquard or woven; ultrasonic cutting or ultrasonic folding at the edges, Patagonia "Ironclad Guarantee" woven label, highlighting the brand's sustainability and lifelong repair philosophy. Reflective strip / Reflective print 3M™ Scotchlite™ micro glass beads or carbon black elastic film; thermal adhesive or high-frequency pressing. Source: 3M LED/Optical Fiber Light Emitting Component Flexible PCB + LED series, optical fiber, or phosphorescent film; requires a small power module. Vollebak Solar Charged Jacket: The outer layer has a phosphorescent film that glows green in the dark for 20-30 minutes after being exposed to light, which can also serve as a positioning signal. Levi’s® Commuter Trucker × Google Jacquard: Sleeve LED dot matrix alerts for calls/navigation, and integrates capacitive touch fabric. Customized zipper head Injection molding TPU / aluminum alloy micro sandblasting; laser engraving logo. The Arc'teryx Cerium Hoody features a lightweight TPU zipper head that maintains its toughness in low temperatures. Color-blocking splicing / Bright seam stitching Three stitches and five lines or overlock; accessory fabric color blocks. Arc'teryx X Jil Sander jacket features a large black-and-white color block design, enhancing the high street visual. Shoe lace hole / Shoe lace buckle decoration Injection molded TPU film; integrated Quick-lace. The Salomon XT-6 series features a TPU "Skin Guard" spider web overlay and quick lacing holes, balancing protection and recognition. 3D patches (shoulder, elbow, knee) Double-layer CORDURA®, with targeted bartack stitching. Commonly used in ski and ice climbing clothing, enhancing abrasion resistance and creating an outdoor functional visual language. Replaceable Velcro badge Nylon hook and loop + fabric label / PVC badge; embroidery or silicone process. Source: nivisgear Nivis Gear Protego Ski Jacket has sleeves with embedded Velcro, allowing for the exchange of national flags or team badges. Hook and loop / Climbing buckle 6 series aluminum alloy or injection molded POM; webbing loop. Commonly found on backpack shoulder straps and D-Rings on the chest of jackets, used for hanging water bottles, gloves, lights, etc. Source: popularairsoft Outdoor footwear and clothing accessories can be combined with environmental scenarios (night running / snow mountains / urban commuting) and brand tone (minimalist functionality / outdoor fashion) to undertake a multi-dimensional role of "function + experience + brand story." Interested product developers can flexibly mix and match the above materials and craftsmanship to achieve a differentiated appearance while ensuring durability and safety.

Recently, foreign media reported that the V-280 Valor tiltrotor aircraft developed by Bell in the United States is set to enter mass production and be deployed to troops, becoming the world's second tiltrotor aircraft to enter service. This aviation vehicle, referred to as an "aerial hybrid," combines the advantages of helicopters and fixed-wing aircraft—it can take off and land vertically, hover in the air, and fly at high speeds. Its core feature is the fixed-wing design, with rotors at the tips that can rotate between horizontal and vertical positions: when taking off or hovering, the rotors rotate horizontally to generate lift; after reaching a certain altitude and speed, the rotors flip forward 90 degrees to provide forward thrust like a propeller. Bell's V-280 Valor tiltrotor aircraft I. Development Context: Four-Stage Evolution The development of tiltrotor aircraft is represented by products from Bell Helicopter in the United States and has gone through four stages: • Principle verification stage (1950s-1960s): Using a dual-blade semi-rigid rotor and piston engine, there were issues such as insufficient power and poor stability, only serving as concept verification. For example, the XV-3 prototype had a maximum speed of 200 kilometers per hour and the tests were terminated due to an accident. • Test flight breakthrough stage (late 1970s to late 1980s): switched to a three-blade rigid rotor and turbine engine, significantly increased cruising speed, overcame the issue of tilt transition power balance, completed carrier-based and refueling tests, with the XV-15 reaching a maximum speed of 615 kilometers per hour. • Scale service stage (1989-2017): Continuous technological improvements, adopting high-power turbo-shaft engines and coupling systems, significantly enhancing payload capacity. The V-22, based on the XV-15 prototype, has a maximum payload of about 10 tons (four times that of the prototype) and was officially commissioned by the U.S. military in 2007. • Structural upgrade phase (2017 to present): represented by the V-280, using the "fixed engine, tilting rotor" mode, optimizing structure to enhance stability, reducing the damage of high-temperature airflow to the ground, and awarded a military procurement contract in 2022. Unique Value: Filling Capability Gaps Compared with conventional fixed-wing aircraft, tiltrotor aircraft do not rely on runways and can take off and land vertically in confined spaces, hover, and precisely deliver personnel and equipment; compared to helicopters, they have a cruising speed of over 500 kilometers per hour, a combat radius of over 700 kilometers (about twice that of a general-purpose helicopter), and a payload capacity exceeding 10 tons, capable of carrying approximately 20 armed soldiers, significantly enhancing combat efficiency. It is not a replacement for existing models, but rather fills the gap between the two: amphibious assaults can quickly deploy troops from aircraft carriers, special operations can infiltrate at low altitude and high speed with stealth, and precision delivery can be accomplished through winches or aerial descent. It holds great practical value in modern warfare. Three, Future Directions: Technological Breakthroughs and Leaps To address the issues of complex power transmission systems and poor environmental adaptability, the next generation of tiltrotor aircraft will achieve three major breakthroughs: - Adopting hybrid electric technology, simplifying the transmission system, enhancing reliability, and allowing flexible switching of power modes (using "hybrid power" for vertical takeoff and landing, "fuel" for cruising, and "pure electric drive" for enhanced survivability during penetration). The rotor can be rotated to any angle, achieving complex maneuvers such as low-altitude hovering and lateral translation shooting, expanding the tactical application range. - Develop tilt-rotor drones that do not need to consider the physiological limits of pilots, capable of executing reconnaissance and strike missions for extended durations, or serving as "loyal wingmen." In the future, with the continuous integration of technology, the role of tiltrotor aircraft is worth.

Zhejiang Yuyao's total subsidy reaches 200 yuan per mu; Inner Mongolia Chifeng City's Ningcheng County subsidy reaches 170 yuan per mu; Shandong Guanquan County subsidy is 168 yuan per mu; Guizhou Province Yuqing County subsidy is 90 yuan per mu. Biodegradable film, as a key material to tackle the "white pollution" in farmland and promote green agricultural development, has always been guided and supported by policies and funding in its research, production, and application. In recent years, China has established a policy system that integrates national coordination and local implementation, with supporting funds forming a complete chain of support from scientific research breakthroughs to application promotion, laying a solid foundation for the large-scale application of biodegradable film. 1. National Policy System: From Legal Protection to Standard Norms At the national level, a comprehensive policy framework is established through laws and regulations as well as special plans, which not only clarifies the development direction but also standardizes market order, providing institutional guarantees for the development of biodegradable films. In terms of laws and regulations, support policies are gradually deepening. In 2016, the "Soil Pollution Prevention and Control Action Plan" first proposed to "research and formulate standards for biodegradable agricultural films," paving the way for the standardization of biodegradable film. In 2018, the "Soil Pollution Prevention and Control Law of the People's Republic of China" clearly established the legal status of "the state encourages and supports the use of biodegradable agricultural films" in legal form. In 2020, the "Management Measures for Agricultural Film" further regulated the market, clearly stating that "the production, sale, and use of agricultural films that do not meet mandatory standards are prohibited, and the production and use of fully biodegradable agricultural films are encouraged and supported." It also requires the establishment of a production and sales ledger and a traceability system. In 2023, the Ministry of Agriculture and Rural Affairs, in conjunction with the State Administration for Market Regulation and three other departments, issued a notice on "Further Strengthening the Regulatory Enforcement of Agricultural Film," deploying the investigation and handling of illegal activities related to non-standard agricultural film, in order to block the entry of inferior products into farmland from the source. In addition, the central government's "No. 1 Document" in 2021 and 2022 repeatedly proposed "strengthening the research and promotion of biodegradable agricultural film" and "increasing the promotion of fully biodegradable plastic film," incorporating it into key agricultural work. In terms of standard specifications, the country imposes dual standards to regulate product quality. The current national standard "Fully Biodegradable Agricultural Ground Cover Film" (GB/T 35795-2017) clearly defines core indicators such as thickness, tensile properties, and biodegradation rate (which must completely degrade into CO₂, H₂O, and mineral inorganic salts under specific conditions); at the same time, the Ministry of Agriculture and Rural Affairs promotes the establishment of application technical regulations for different crops and regions, providing a basis for scientific use. 2. National funding support: from scientific research breakthroughs to application demonstrations The country provides support for the technological innovation and application promotion of biodegradable film through special research funding, demonstration project funding, and other means. In the field of scientific research tackling key challenges, the National Key R&D Program provides targeted support for breakthroughs in core technologies. The "14th Five-Year Plan" National Key R&D Program project "Creation and Industrialization of Fully Biodegradable Mulching Materials and Products" (2021YFD1700700) focuses on key technologies such as low-cost modification of core materials like PBAT and PLA, and regulation of degradation cycles. It promotes collaborative efforts among industry, academia, and research institutions, and has helped develop specialized mulching film formulations suitable for different crops such as potatoes and corn. In the application demonstration field, the central government promotes large-scale verification through special pilot projects. In 2022, the Ministry of Agriculture and Rural Affairs and the Ministry of Finance launched a pilot program for the scientific use and recovery of plastic film, aiming to promote 5 million acres of fully biodegradable film in key film usage areas. Starting from 2021, the Ministry of Agriculture and Rural Affairs has established 19 evaluation and application bases for fully biodegradable plastic film in 12 provinces (autonomous regions) including Hebei, Inner Mongolia, and Gansu, conducting field trials to verify the adaptability of different regions and crops. Data on degradation rates, soil impact, and crop yield increases are recorded through field trials to provide "replicable and promotable" practical experiences for promotion in different regions. 3. Financial subsidies: Central support and local enhancements The funding subsidy for biodegradable film adopts a model of "central fixed base, local supplementation," reducing the cost for farmers. The central government has established a basic subsidy for farmland using fully biodegradable film, with a standard of 60 yuan per mu, covering key aspects such as film procurement and application. On this basis, local governments can add additional subsidies according to actual needs (ranging from 30 to 120 yuan per mu), forming a combined support of "central + local." For example, the total subsidy in Yuyao, Zhejiang reaches 200 yuan per mu; in Ningcheng County, Chifeng City, Inner Mongolia, the subsidy reaches 170 yuan per mu; in Guanqu County, Shandong, the subsidy is 168 yuan per mu; and in Yuqing County, Guizhou Province, the subsidy is 90 yuan per mu. These differentiated subsidy policies take into account both the economic level of the region and the local demand for film usage—such as Inner Mongolia and Gansu, which are traditional provinces for film usage, accelerating the process of replacing conventional film with biodegradable film through subsidies. 4. The increase in industry scale helps reduce costs. The expansion of core raw material production capacity and the decrease in prices provide industrial support for the scaled application of biodegradable films. China’s PBAT (the core raw material for biodegradable films) production capacity is rapidly increasing and has reached 1.62 million tons per year. Companies such as Kingfa Technology, Lanshan Tunhe, Ruian Technology, Hubei Yihua, and Donghua Tianye have established large-scale production capabilities. The price of PBAT has dropped from 30,000 yuan/ton in 2021 to around 10,000 yuan/ton by 2025, directly leading to a reduction in the cost of the final application of biodegradable films, further narrowing the price gap with traditional films and creating favorable conditions for its promotion on a larger scale. From the construction of a regulatory framework based on policies and regulations, to financial subsidies that lower application thresholds, and then to industrial upgrades that drive down costs, China has formed a complete system to support the development of biodegradable plastic film. This system not only addresses the issue of "technical feasibility," but also tackles the problem of "high application costs," promoting the transition of biodegradable plastic film from "pilot demonstration" to "scaled application," and providing strong support for the green transformation of agriculture and the management of "white pollution" in farmland.