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Zhongfu Shenying (688295.SH) has revealed that, owing to the ramifications of the global scenario, there has been a notable surge in petroleum-based raw material prices since March of this year. This escalation has subsequently driven up the company's expenses associated with raw material procurement. In response to these mounting costs and the potential for sustained, high volatility in petrochemical product pricing, the company has made the strategic decision to implement a price increase of 5%–10% across its entire product range, effective from August. Prior to enacting this price adjustment, the company engaged in thorough discussions with its key clientele, ultimately achieving a mutual understanding. Presently, downstream customers are demonstrating a positive reception towards the impending price rise.
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