Commodity Chemicals

Methanex has announced a partial redemption of US$300 million of its 5.125% senior notes due October 15, 2027, with the redemption scheduled for October 19, 2026. The move puts a fresh spotlight on the company's balance sheet, and Methanex plans to reduce leverage significantly by repaying $550 million to $600 million in debt over the next 18 months, which is expected to improve net margins and increase financial stability. The strategic OCI acquisition is expected to expand Methanex's capacity and market reach while generating synergies and contributing to higher earnings and efficiency in financial operations. The shares have climbed strongly, with a 90 day share price return of 27.81% and a year to date share price return of 48.63%, while the 1 year total shareholder return of 54.63% points to solid longer term momentum, even as short term moves have softened slightly around the partial debt redemption news. At a last close of CA$83.19 versus a narrative fair value of CA$91.07, Methanex screens as modestly undervalued, though at a P/E of 51.2x the stock is priced far above both the North American Chemicals industry on 21.5x and a fair ratio of 21.1x.

KB Securities analyst Wooje Chun named Hanwha Solutions and DL Holdings as top solar stock picks, arguing that surging electricity prices more than offset higher module costs and interest rates. Module prices are expected to climb from $0.30-0.33 per watt to $0.38-0.437 per watt, a 32% increase, but because modules account for only 31% of costs for utility-scale systems and 11% for residential installations, the overall impact on total investment costs stays modest at 3-10%. The U.S. 10-year Treasury yield rose from 4.42% in the second quarter of 2026 to 5.24% as of September 28, while three-year PJM power futures jumped to $89.5 per megawatt-hour on September 28, up 37% year-over-year and 20% from the second quarter of 2026, with MISO up 14% and ISO-NE up 15%. KB Securities calculates that a 14% rise in power purchase agreement prices would lift revenue by $36.1 million for a typical 100-megawatt utility-scale solar plant, while higher interest rates would add only $3.3 million in interest expense, and even a 16% increase in total investment costs would be offset by a 5.6% hike in PPA prices. Hanwha Solutions is favored for its EPC and third-party ownership businesses and its module business, which produces 80% of its output in the United States, while DL Holdings benefits from two U.S. gas-fired power plants in the PJM market totaling 2.1 gigawatts, held at 25% and 30% ownership stakes, as power purchase prices rise without matching increases in Henry Hub natural gas prices.

Hawkins, Inc. has completed the acquisition of the assets of Eagle Labs, Inc., expanding its Water Treatment business into the Dallas–Fort Worth region of Texas. Eagle Labs distributes water treatment products directly to customers in Texas and has in-house manufacturing capabilities. The acquisition adds two locations in the Dallas–Fort Worth area, increasing Hawkins' total Water Treatment facilities in Texas to seven; Hawkins first entered the Texas market in fiscal 2022. According to Hawkins, Eagle Labs brings expertise in coagulants and polymers, along with a customer service model that complements Hawkins' existing Water Treatment operations in the state, and has served North Texas and surrounding areas for more than 30 years. Hawkins has also opened a new facility in the Dallas–Fort Worth area, which the company expects, together with the acquired Eagle Labs operations, to strengthen its ability to serve water treatment demand across the region.

P.S.P. Specialties, or PSP, has announced a strategic partnership with Orthene Chemical Co., Ltd., or Orthene, an international expert in the development and production of brake fluid products with more than 50 years of experience, to expand its business into automotive brake fluids and raise its production to international standards by establishing a production base in Thailand to serve demand across the ASEAN region. Under this partnership, PSP has been appointed as Orthene's Exclusive Regional Manufacturing Hub for the ASEAN region, covering Thailand, Vietnam, Indonesia, Malaysia, Singapore, the Philippines, Cambodia, Laos, Brunei and Myanmar. PSP will receive direct transfers of knowledge, product formulas and production technology from Orthene, making it the first in Thailand to bring Orthene's technology and product formulas into domestic production. Orthene, meanwhile, will support technical knowledge, production formulas, product standards, laboratory testing, training, regulatory compliance, as well as continuous product research and development. Mr. Seksan Krongpanich, Deputy Chief Executive Officer of P.S.P. Specialties, said this partnership is an important step for PSP in upgrading its manufacturing capabilities toward specialty products that use high-level technology and quality standards, and in driving Thailand to become a production base for high-quality brake fluid products for the ASEAN market.

Global New Material International Holdings Limited announced that the registration of the share transfer for its acquisition of approximately 29.89% of the shares of Zhejiang Jihua Group Co., Ltd. was completed with China Securities Depository and Clearing Corporation Limited, Shanghai Branch on 29 September 2026. The transaction, signed on 6 February 2026, took approximately eight months to complete and involved a consideration of RMB1,495 million, with subsequent arrangements including the reorganisation of Zhejiang Jihua's board of directors to proceed in accordance with relevant procedures. Zhejiang Jihua operates the world's third-largest dye production base and reported 1H2026 operating revenue of RMB796 million, up 12.27% year-on-year, and net profit attributable to shareholders of RMB46.16 million, up 1,235.47% year-on-year. GNMI, which acquired CQV in Korea in 2023 and SUSONITY for EUR665 million in July 2025, reported 1H2026 revenue of RMB2,558.3 million, up 180.5% year-on-year, and issued RMB1.3 billion in convertible bonds on 24 September 2026 at an initial conversion price of HK$10.93 per share. Dr SU Ertian has increased his shareholding on multiple consecutive occasions and currently holds 36.4% of the Company's shares.

Asia Plus Securities research has issued an analysis of PTTGC and SCC shares after both companies notified the Stock Exchange of Thailand of progress in their feasibility study on a strategic joint venture between PTTGC and SCGC in the olefins and polyolefins business in Thailand. The two parties have reached a preliminary agreement on the scope of the joint venture, or JV Scope. PTTGC is expected to be the major shareholder in the joint venture, while SCGC will retain a significant stake in the venture. The research team views this JV as a strategic reset for PTTGC during the downturn phase of the petrochemical cycle, helping to reduce downside risk from investing in new capacity expansion in a market that is in a state of oversupply and building leadership in the region's petrochemical business. PTTGC will reinforce strengths on the upstream and feedstock flexibility side, while SCGC will reinforce downstream, HVA and R&D. For SCC shares, the research team views that the key issue is not holding less than 50%, but rather the value of synergies and the economic returns from the JV. Not consolidating the financial statements may make the balance sheet more efficient, and petrochemical business profit would shift from recognition through EBITDA to equity income. The research team recommends trading PTTGC shares with a target price of 48 baht and recommends buying SCC shares with a fair value of 310 baht. Both companies will finalize key transaction details, such as the shareholding structure, operational steps and synergies, by the end of October 2026. The joint venture remains subject to internal approval by both companies, the final valuation and approval from shareholders and joint venture partners.

PTT Global Chemical, or PTTGC, and Siam Cement Group, or SCC, announced that discussions on establishing a joint venture for olefins and polyolefins businesses in Thailand have entered the due diligence stage to verify information. This marks clear progress from the signing of a non-binding memorandum of understanding in April. The proposed joint venture would combine nearly all of the two groups' core olefins and polyolefins assets in Thailand. PTTGC would contribute its olefins production plant, its polyethylene, or PE, production plant, and its investment in HMC Polymers Company Limited. SCC would contribute its olefins production plant in Thailand, its PE and polypropylene, or PP, production plants, as well as SCGC's investments in various joint ventures, namely Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. PTTGC is expected to be the major shareholder in the joint venture, while SCGC would remain a significant shareholder. Key terms of the transaction are expected to be clarified by October 2026, including the shareholding structure, transaction procedures, and the expected value of the collaboration. After that, requests will be submitted to the Trade Competition Commission, as well as for internal approvals, shareholder approvals, and approvals from partners in the relevant joint ventures.

SCG Chemicals, or SCGC, a subsidiary of Siam Cement, or SCC, and PTT Global Chemical, or PTTGC, reported progress on the establishment of their petrochemical joint venture, or JV, saying it is proceeding according to plan and has entered the confirmatory due diligence stage to verify information. The two sides are also negotiating the key terms of the transaction. The preliminary structure is becoming clearer, with PTTGC to be the major shareholder of the JV while SCGC will hold a significant stake, with the shareholding proportions to be determined by the value of the assets each side contributes to the joint venture. On asset scope, the SCGC side comprises olefins production plants, polyethylene, or PE, plants, polypropylene, or PP, plants, as well as investments in joint ventures including Siam Polyethylene, Siam Synthetic Latex, Thai MMA and Bangkok Synthetics. The PTTGC side covers olefins production plants, PE plants and its investment in HMC Polymers. Neither side has disclosed the expected synergy value from the business combination, and both will accelerate finalisation of the transaction's key elements, including the shareholding structure, the transaction process and the synergy value, with clarity expected by October 2026, before entering the approval process with the shareholders of both parties, the relevant regulators, the Trade Competition Commission and the shareholders of the related joint ventures. Land and Houses Securities estimates that the approval process with the Trade Competition Commission could take about six months. Land and Houses Securities views the matter as positive for both SCC and PTTGC, noting that since the start of the year SCC's share price has risen about 45% compared with a gain of about 132% for PTTGC, and it maintains a buy recommendation on both stocks.

Shares of PTTGC and SCC rose after the latest progress in their petrochemical merger deal. As of 10:02 a.m., PTTGC was up 2.58%, gaining 1.25 baht to 49.75 baht, with trading value of 238.14 million baht, while SCC was up 1.18%, gaining 3.00 baht to 257.00 baht, with trading value of 187.38 million baht. InnovestX Securities said in an analysis that PTT Global Chemical, or PTTGC, and SCG Chemicals, or SCGC, a wholly owned subsidiary of Siam Cement, or SCC, are pressing ahead with the confirmatory due diligence process alongside negotiations on key transaction terms for the establishment of a joint venture in Thailand. The transaction covers the two companies' main petrochemical assets in Thailand, centered on the Map Ta Phut Industrial Estate. PTTGC is expected to be the major shareholder in the new JV, while SCGC will hold a significant minority stake. Both parties have already defined the scope of assets. On the PTTGC side, this covers the olefins and polyolefins businesses in Thailand, namely olefins production plants, polyethylene production plants, and the investment in HMC Polymers, while the refinery business, aromatics business, biochemical business, and specialty chemicals business, mainly allnex, will remain under PTTGC. For SCGC, the scope comprises olefins production plants, polyethylene production plants, and polypropylene production plants, as well as SCGC's investments in joint ventures, namely Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. However, some of SCGC's joint ventures and SCC's Long Son Petrochemical, or LSP, plant are not included in this transaction. Both parties are assessing opportunities to create synergies and preparing to seek approval from the relevant joint venture partners. The disclosure of further details in October 2026 will help the market more accurately assess the positive impact on earnings, the effect on financial position, and the upside to the share value of both parent companies. Key information to be disclosed includes the final shareholding proportions between PTTGC and SCGC, the synergy assessment, the asset valuation method, and the accounting treatment and consolidation mechanism. The merger and full operational integration are expected around mid-2027 after receiving approval from the relevant regulators and shareholders. The transaction requires approval from the Trade Competition Commission, and the review process is expected to take about three to six months. However, management does not view obtaining trade competition approval as a significant obstacle to proceeding with the transaction, since petrochemical products are commodities traded in the global market and priced according to international market mechanisms, while the main purpose of setting up the JV is to improve operational efficiency rather than to control domestic prices. InnovestX Securities maintained its recommendation and target price, giving PTTGC a target price of 63 baht and maintaining a NEUTRAL recommendation on SCC with a target price of 276 baht.

PTTGC shares rose 2.58% to 49.75 baht at 10:04 a.m. as the market watched progress on the formation of a strategic joint venture between PTTGC and SCGC to combine their olefins and polyolefins businesses in Thailand. The two parties disclosed their latest progress on 30 September 2026, saying the study is proceeding according to plan and has entered the confirmatory due diligence stage to verify information, while also discussing key transaction terms and assessing synergies under the structural framework being considered. PTTGC will be the major shareholder of the joint venture, while SCGC will hold a significant stake. Both parties aim to conclude the material terms of the transaction within October 2026, covering the shareholding structure, the transaction process and the expected synergy value. PTTGC's assets within the scope of the study cover its olefins and polyolefins businesses in Thailand, including olefins production plants, polyethylene or PE production plants, and its investment in HMC Polymers. SCGC's assets cover olefins production plants, PE and polypropylene or PP production plants, as well as investments in related joint ventures, namely Siam Polyethylene, Siam Synthetic Latex, Thai MMA and Bangkok Synthetics. PTTGC previously stated in August 2026 that if the joint venture is formed as planned, the combined business would have olefins and polyolefins production capacity at a leading level in ASEAN, and based on total production capacity would rank among the world's top 10. However, the transaction has not yet been finalised, as information is still being verified and key conditions are still being set. Once a conclusion is reached, it will need to pass the internal approval processes of both parties, as well as obtain permission from the Trade Competition Commission and relevant regulators before proceeding further.

PTT Global Chemical Public Company Limited, or PTTGC, and SCG Chemicals Public Company Limited, or SCGC, announced progress on their study of establishing a joint venture project, saying it is proceeding according to plan. Both companies are in the confirmatory due diligence stage to verify information, as well as discussing the key terms of the transaction and assessing the expected mutual benefits from synergies arising from combining the strengths, capabilities, and assets of both parties. The scope of the joint venture project under study covers GC's olefins and polyolefins business in Thailand, including GC's shares in the joint venture HMC Polymers Company Limited, and SCGC's olefins and polyolefins business in Thailand, which includes olefins production plants, polyethylene or PE production plants, and polypropylene or PP production plants, as well as SCGC's shares in related joint ventures, namely Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. The newly established joint venture will become a shareholder in the above-mentioned joint ventures in place of GC and SCGC under the transaction structure currently being considered. GC will be the major shareholder of the joint venture project, while SCGC will hold a significant stake. Both companies expect to conclude the material terms of the transaction, including key details such as the shareholding structure, the transaction process, and the value of the expected mutual benefits, by October 2026. Both companies will next submit requests for permission to the Trade Competition Commission to seek the relevant approvals. The implementation of the joint venture project will depend on internal approvals from both companies and the relevant regulatory agencies.

PTT Global Chemical, or PTTGC, and SCG Chemicals, or SCGC, announced progress on their study to establish a joint venture project, saying it is proceeding according to plan. The two companies are in the process of confirmatory due diligence to verify information, as well as discussing the key terms of the transaction and assessing the expected mutual benefits from combining the strengths, potential, and assets of both parties. The scope of the joint venture under study covers PTTGC's olefins and polyolefins business in Thailand, including PTTGC's shares in the joint venture HMC Polymers Company Limited, and SCGC's olefins and polyolefins business in Thailand, which includes olefins production plants, polyethylene production plants, and polypropylene plants, as well as SCGC's shares in related joint ventures, namely Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. The newly established joint venture will become a shareholder in the aforementioned joint ventures in place of PTTGC and SCGC under the current framework of the transaction structure under consideration. PTTGC will be the major shareholder of the joint venture, while SCGC will hold a significant stake, and both companies expect to conclude the material terms of the transaction, including the shareholding structure, the transaction process, and the value of the expected mutual benefits, by October 2026. In addition, both companies will submit requests for permission to the Trade Competition Commission, or TCCT, to seek the relevant approvals. The implementation of the joint venture project will depend on the internal approvals of both companies and the relevant regulatory agencies.

PTT Global Chemical, or GC, and SCG Chemicals, or SCGC, have reported progress on their study into establishing a petrochemical joint venture, saying it is proceeding according to plan. The two companies are currently conducting due diligence to confirm information, as well as discussing and setting the key terms of the transaction and assessing the expected mutual benefits from combining the strengths, capabilities and assets of both parties. The scope under study covers GC's olefins and polyolefins business in Thailand, including GC's shareholding in HMC Polymers. On the SCGC side, it covers the olefins and polyolefins business in Thailand, including olefins production plants, polyethylene (PE) and polypropylene (PP) production plants, as well as holdings in related joint ventures, namely Siam Polyethylene, Siam Synthetic Latex, Thai MMA and Bangkok Synthetics. Under the transaction structure currently being considered, GC will be the major shareholder of the joint venture, while SCGC will hold a significant stake. The newly established joint venture will become the holder of the various joint venture stakes in place of GC and SCGC. Both companies expect to be able to finalise the key terms of the transaction by October 2026, covering the shareholding structure, the transaction process and the value of the expected mutual benefits. However, the project still requires the filing of a permit application with the Trade Competition Commission, as well as approval from the boards and relevant regulators in due course.

SCG Chemicals, or SCGC, is moving ahead with a joint venture with PTT Global Chemical, or PTTGC, in the olefins and polyolefins business in Thailand. Thammasak Sethaudom, president and chief executive of Siam Cement, or SCC, informed the Stock Exchange of Thailand that discussions on establishing a strategic joint venture have made good progress, and that the two companies have entered the due diligence stage to verify information and are negotiating the key terms of the transaction. The scope of the joint venture covers SCGC's olefins and polyolefins business assets in Thailand, including olefins production plants, polyethylene, or PE, plants and polypropylene, or PP, plants, as well as SCGC's investments in joint ventures, namely Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited and Bangkok Synthetics Company Limited. PTTGC's assets in Thailand include olefins production plants, polyethylene, or PE, plants and its investment in HMC Polymers Company Limited. Both companies expect to conclude the material terms of the transaction, including the shareholding structure, transaction procedures and the assessed value of shared benefits, within October 2026. PTTGC is expected to be the major shareholder of the joint venture, while SCGC is expected to remain a significant shareholder. The two companies will then submit applications for permission to the Trade Competition Commission. The project will be subject to internal approvals at both companies, the consent of shareholders in the relevant joint ventures and approvals from the relevant regulators.

Siam Cement Public Company Limited, or SCC, has notified the Stock Exchange of Thailand that its subsidiary SCG Chemicals Public Company Limited, or SCGC, and PTT Global Chemical Public Company Limited, or PTTGC, are conducting confirmatory due diligence and negotiating the key terms of a transaction, after the two parties signed a memorandum of understanding in April 2026 to study the feasibility of forming a business collaboration in the olefins and polyolefins business in Thailand. The preliminary scope of the project covers SCGC's domestic assets, namely olefins production plants, polyethylene or PE plants, and polypropylene or PP plants, as well as investments in joint ventures including Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. PTTGC, meanwhile, will contribute its domestic olefins and polyolefins business assets, namely olefins production plants, polyethylene or PE plants, and its investment in HMC Polymers Company Limited. Both parties expect to finalise the key elements of the transaction, including the shareholding structure, the transaction process, and the assessed value of shared benefits, by October 2026, before submitting applications for approval to the Trade Competition Commission and other relevant regulators. Under the current framework being considered, PTTGC is expected to be the major shareholder in the joint venture, while SCGC will continue to hold a significant stake. The project remains subject to the internal approvals of both companies, the consent of shareholders in the relevant joint ventures, and approval from the relevant regulatory authorities.

PTT Global Chemical Public Company Limited, or PTTGC, informed the Stock Exchange of Thailand that its study of the strategic feasibility of a joint venture with SCG Chemicals Public Company Limited, or SCGC, is progressing according to plan. Both companies are in the phase of confirmatory due diligence and are negotiating the key terms of the transaction. The scope of the joint venture covers PTTGC's olefins and polyolefins businesses in Thailand, including its olefins production plant, its polyethylene (PE) production plant, and its investment in HMC Polymers Company Limited, as well as SCGC's olefins and polyolefins businesses in Thailand, including its olefins production plant, its polyethylene (PE) production plant, and its polypropylene (PP) production plant, together with SCGC's investments in joint ventures, namely Siam Polyethylene Company Limited, Siam Synthetic Latex Company Limited, Thai MMA Company Limited, and Bangkok Synthetics Company Limited. Under the structure being considered, the newly established joint venture company will become the shareholder in these joint ventures in place of PTTGC and SCGC. PTTGC will be the major shareholder of the joint venture, while SCGC will continue to hold a significant stake. Both companies expect to finalise the key details of the transaction, including the shareholding structure, the transaction process, and the value of the expected synergies, by October 2026, before submitting an application for approval to the Trade Competition Commission. The project remains subject to the internal approvals of both companies, shareholder approval, approval from the relevant joint venture partners, and the necessary approvals from the relevant regulatory authorities.

Lai'er Technology announced on the evening of September 30 that it intends to transfer its 100% equity stake in wholly-owned subsidiary Guangdong Shunde Shirui Technology Co., Ltd. to Luo Shaojing for a transfer price of 5 million yuan. The transaction has been approved at the fourth meeting of the company's fourth board of directors, does not require submission to the shareholders' meeting, does not constitute a related-party transaction, and does not constitute a major asset restructuring. After completion, Shirui Technology will no longer be included in the company's consolidated financial statements. Shirui Technology's book cost is 4.76 million yuan, and the transaction price represents a premium of 5.07% over book value. The transferee Luo Shaojing is a core technical staff member of the company. On the same day, the company announced that after the transfer of the 100% stake in Shirui Technology is completed, Luo Shaojing will no longer hold any position at the company, and the company will no longer recognize him as a core technical staff member. Shirui Technology has fallen into continuous losses, with a net loss of 1.7 million yuan in fiscal 2025, and the net loss widened further to 4.84 million yuan from January to August 2026. Lai'er Technology stated that this transaction is made in accordance with the company's overall business plan, to optimize overall asset allocation and take into account future strategic planning.

Kingfa Sci & Tech has invested in establishing a catalytic new materials company. Qichacha APP shows that Guangzhou Kingfa Catalytic New Materials Co., Ltd. was recently incorporated, with a business scope including the manufacture of specialty chemical products, excluding hazardous chemicals, and the sale of new catalytic materials and additives. Qichacha equity penetration shows that the company is wholly owned by Kingfa Sci & Tech.

Xinjiang Tianye disclosed a related-party transaction announcement after market close on September 30, planning to acquire 100% equity in four mining subsidiaries under its controlling shareholder, Xinjiang Tianfu Xinye Energy Co., Ltd., through a non-public agreement. The total transaction amount is 865 million yuan, funded by the company's own capital. The transaction constitutes a related-party transaction but does not constitute a major asset restructuring, and still needs to be submitted to the company's shareholders' meeting for approval. Upon completion, the four target companies will become wholly-owned subsidiaries of the listed company and be included in the consolidated financial statements. Xinjiang Tianye will add four limestone mines with a total annual mining capacity of 9.45 million tons, salt mine resources with an annual mining capacity of 200,000 cubic meters, as well as three lime production bases with a cumulative annual production capacity of 2.6 million tons and one industrial salt production base with an annual capacity of over 300,000 tons. The transaction includes performance commitments, with Tianfu Xinye pledging that the combined non-GAAP net profit of the four target companies for 2026, 2027, and 2028 will be no less than 64.8464 million yuan, 58.3293 million yuan, and 60.3881 million yuan respectively, totaling no less than 184 million yuan. The appraised values of 100% equity in the four target companies are 277 million yuan, 355 million yuan, 199 million yuan, and 34.1 million yuan respectively, totaling 865 million yuan.

Xinjiang Tianye announced on September 30 that it plans to acquire, through a non-public agreement, 100% equity in four wholly owned subsidiaries held by Tianfu Xinye: Jingyi Mining, Tianbochenye, Group Mining, and Turpan Mining, for a total of 865 million yuan, funded by the company's own capital. Upon completion of the transaction, these four companies will become wholly owned subsidiaries of Xinjiang Tianye, consolidated into the company's financial statements, and managed as controlled subsidiaries. Through this acquisition, Xinjiang Tianye will add four limestone mines with a combined annual mining capacity of 9.45 million tonnes, salt mine resources with an annual mining volume of 200,000 cubic metres, three lime production bases with a cumulative annual production capacity of 2.6 million tonnes, and one industrial salt production base with an annual capacity of over 300,000 tonnes. The company stated that this move will secure the supply of lime and raw salt raw materials and create a new source of performance growth.

Lai'er Technology announced on September 30 that it intends to transfer its 100% equity stake in wholly-owned subsidiary Guangdong Shunde Shirui Technology Co., Ltd. to Luo Shaojing for a transfer price of 5 million yuan. Upon completion of the transaction, Lai'er Technology will no longer hold any equity in Shirui Technology, and Shirui Technology will no longer be included in the company's consolidated financial statements. Shirui Technology's book cost is 4.76 million yuan, with the transaction price representing a 5.07% premium over book value. The target has fallen into consecutive losses, with a net loss of 4.84 million yuan from January to August 2026 and a net loss of 1.7 million yuan for the full year 2025. In the first half of 2026, Lai'er Technology achieved revenue of 705 million yuan and net profit attributable to the parent company of 25.31 million yuan.

Xinjiang Tianye announced that it plans to acquire, through a non-public agreement, 100% equity in four wholly owned subsidiaries held by its related party Tianfu Xinye: Jingyi Mining, Tianbochenye, Group Mining, and Turpan Mining. The total transaction amount is 865 million yuan, funded by the company's own capital. This transaction constitutes a related-party transaction but does not constitute a major asset restructuring. Upon completion, the company will add four limestone mines with a combined annual mining capacity of 9.45 million tonnes, as well as salt mine resources with an annual mining volume of 200,000 cubic metres, to secure its supply of lime and raw salt. The transaction is still subject to review by the company's shareholders' meeting.

The 15th Five-Year Plan for the Development of the New Battery Industry, jointly formulated by seven departments including the Ministry of Industry and Information Technology, was officially released on September 28, proposing that all-solid-state batteries achieve initial large-scale application by 2030. Boosted by this news, the solid-state battery concept surged again on the morning of September 30, with Transart Technology, Shanghai Xiba, and Xin Ya Zhi Cheng hitting limit up, while lithium battery materials company Lopal Technology was pulled up to a 9.99 percent limit-up. The plan makes arrangements for developing advanced battery materials and high-end manufacturing equipment, proposing to develop isostatic pressing equipment for solid-state batteries, and to develop solid-state electrolytes such as sulfide and halide materials with high air stability, as well as high-performance polymer composite solid-state electrolytes. Lopal Technology recently stated that its solid-state battery precursor product D392 is a high-nickel ternary precursor material tailored for solid-state batteries and launched by its wholly owned subsidiary Sanjin Lithium. Through measures such as element doping and structural adjustment, it has been made more stable, safer, and longer-lasting, and can better solve problems in solid-state batteries such as cracking of cathode materials and high-temperature decomposition of materials.

Valvoline Inc. announced that its board of directors authorized the repurchase of an additional $175 million of its common stock, bringing the total remaining authorization to $500 million. President and CEO Lori Flees said the expanded authorization reflects confidence in the long-term trajectory of the business and its ability to grow free cash flow. Flees said performance is in line with the company's outlook and that Valvoline expects to resume share repurchases following the release of its fiscal year results. The authorization has no expiration date and permits repurchases in open market or privately negotiated transactions, including accelerated share repurchase transactions and Rule 10b5-1 trading plans. Valvoline, which trades on the New York Stock Exchange under the ticker VVV, operates more than 2,500 franchised and company-operated service centers across the United States and Canada.

Tronox Holdings plc has signed a cooperation and investment agreement with JX Advanced Metals Corporation to advance its rare earth and critical minerals business. Under the agreement, the two companies will fund on a 50/50 basis approximately $32 million to support a definitive feasibility study for Tronox's proposed rare earth cracking and leaching facility in Australia, a pre-feasibility study for a proposed rare earth oxide refinery in the United States, and development of a US-based pilot facility capable of producing initial quantities of high-purity rare earth oxides. The Cracking Plant is planned for the Rockingham Industrial Zone in Western Australia, about three kilometers south of Tronox's Kwinana TiO2 pigment plant, while the Refinery is expected to be located on Tronox-owned land adjacent to its Hamilton, Mississippi TiO2 pigment facility. Together, the two sites would aim to produce up to 10,000 tonnes per annum of total rare earth oxides, and the agreement also contemplates joint development of niobium, scandium, zirconium, and hafnium from Tronox's mineral resources. If the engineering studies demonstrate technical and commercial viability, the companies will explore forming a joint venture to fund, build, and operate the assets, and they have engaged with government-backed financing institutions including the US Export-Import Bank and Export Finance Australia.

Methanex Corporation has issued notice to redeem US$300 million of its 5.125% senior notes due October 15, 2027, with the partial redemption scheduled for October 19, 2026. Chief Executive Officer Rich Sumner attributed the decision to strong cash generation, tight global methanol markets and a strengthened production base. The redeemed principal carries approximately US$15.4 million in annual coupon obligations, and completing the payment would eliminate those obligations for the notes' remaining term. Methanex generated US$439 million of operating cash flow in the second quarter, compared with US$132 million in the first quarter, and also repaid the remaining US$290 million of its Term Loan A during the second quarter. As of June 30, cash totaled US$383 million, with an additional US$400 million available under an unused revolving credit facility, though the September announcement did not provide an updated cash balance or specify the redemption price. Separately, on September 1 Methanex announced plans to indefinitely idle its New Zealand facilities in the first quarter of 2027 after agreeing to sell all of its New Zealand natural-gas contractual entitlements.

Analysts at Finansia Syrus Securities recommend "buy" on shares of Eastern Polymer Group Public Company Limited, or EPG, with a target price of 9 baht. They expect core profit in fiscal year 2027 to grow 19.8% from the previous year, after the Aeroflex business group posted record sales of 1.3 billion baht in the first quarter of fiscal 2027 and set another record in July-August 2026. Aeroflex in the United States holds a market share of about 25% and has seen revenue rise roughly 10% per year over the past two years. The company plans to expand first-phase production capacity by an additional 2,000 tons per year on top of its existing capacity of 8,000 tons per year, with commercial operations expected to begin in early 2027. Dr. Chaliow Witoonpakorn, Chief Executive Officer of EPG, said the weaker baht, following the US central bank's direction of raising policy rates, will help support export revenue, which accounts for about 65% of total revenue. He expects second-quarter 2027 results to improve from the same period a year earlier, and for the full year 2027 the company targets revenue growth of 2-3% from roughly 13.7 billion baht last year, after generating about 3.64 billion baht in revenue in the first quarter of this year.

Orinko Advanced Plastics announced on September 29 that it plans to expand its previously planned PPA project. The company had earlier announced plans to establish a wholly owned subsidiary to carry out a high-temperature nylon and PEEK polymerization project, with a total investment of 81 million yuan. To date, infrastructure construction has started and entered the substantive construction stage, with cumulative investment reaching 21.5 million yuan. This time, the company plans to adjust the phase one planning of the polymer materials project. After the adjustment, it intends to build production lines and supporting facilities with an annual capacity of 1,000 tonnes of high-temperature nylon and 200 tonnes of PEEK, with a total investment of about 40 million yuan. The project is expected to be completed by June 2027.

Jatuphat Tangkaravakoon, Chief Executive Officer of TOA Paint (Thailand) Public Company Limited, or TOA, told Than Hoon that flooding in many areas has increased demand for renovating and repairing homes and buildings, or the repair and renovation market. However, demand for paint products and construction materials will not rise immediately after the waters recede and will serve as a long-term supporting factor, since an effective repainting process requires a detailed assessment of damage beforehand. Recovery is also constrained by a shortage of skilled painters who cannot serve everyone at once. The company therefore plans to expand its market in both construction chemicals and repair chemicals, focusing on providing knowledge and principles for home maintenance rather than pushing hard-sell tactics, and will consider adding sales promotion activities or campaigns to stimulate sales at an appropriate time later. The company's main warehouse, located on Bangna-Trad Road at Kilometer 23 in Samut Prakan Province, was not affected by the flooding, as most of the flooded areas are in Bang Bo District and nearby areas, which did not directly affect the main warehouse. Warehouse management, transportation, and the distribution of goods in and out continue to operate normally and smoothly. As for the outlook for the fourth quarter of 2026, the paint market remains stable, as the overall economy and market are not growing strongly, and the flooding, which has spread to provincial areas, has temporarily slowed purchasing power and repair and renovation activity in the regions. The company expects to keep its performance in the final quarter at a stable to slightly growing level in order to achieve its full-year 2026 revenue target of growth of close to 5%, and to prepare for continued growth opportunities through 2027.