Debon Securities' Research Reports point out that Shengquan Group (605589.SH) has comprehensive advantages in synthetic Resin and is in a leading position in the Industry, maintaining a "Buy" rating for the company. In the first three quarters, both the volume and price of phenolic resin have risen, and casting resin has compensated for price with volume. Overall, the company's main Operations still maintain steady progress. In terms of biomass: After the "1 million tons/year biomass refining integrated (Phase I)" project at the Daqing production base completed renovation, capacity utilization has steadily increased, and by the end of the third quarter, the capacity utilization rate has reached over 70%. It is expected to reach full production in the fourth quarter and aims to achieve monthly breakeven by the first quarter of 2025. The company has conducted two rounds of share buybacks this year, demonstrating confidence in long-term development.