CITIC Securities: The current profitability and capital expenditure of enterprises in the general steel, glass fiber, titanium dioxide, and new energy chains are at historically low levels, and there is a strong willingness to participate in anti-overwork activities.

Guotai Junan Securities research report states that in key industries affected by the fight against internal competition, including general steel, glass fiber, titanium dioxide, and new energy chains, the current profitability and capital expenditure of enterprises are at historically low levels, and there is a strong willingness to participate in the fight against internal competition. Positive changes in the industry are expected in the short term. Among them, the state-owned enterprises have a relatively high proportion in the steel sector, with little resistance to capacity reduction. If there are further policy releases in the future, it may be one of the industries that implement the fight against internal competition more smoothly.