Tianfeng Securities: "Focus on companies in the soda ash industry that have cost advantages in the context of anti-internal competition".

Tianfeng Securities released a research report stating that China is the largest producer of soda ash in the world, accounting for 51% of global production. Currently, the industry has an operating rate of 80%, and the price difference is at a low level. About 30% of the soda ash industry's production capacity is old, with 10% of the capacity having energy consumption and emissions below benchmark levels. Against the backdrop of "anti-internal loop," attention should be focused on listed companies with cost advantages.