Shandong Ruifeng Chemical Co., Ltd. announced that it is entering the SBR sector by leveraging its MBS synthesis technology while also expanding into PAA anode binder production. The synthesis of SBR is a precursor step in MBS manufacturing, and the company has accumulated years of technical expertise in SBR synthesis, giving it inherent advantages in transitioning production. Currently, SBR is mainly imported from Japan, leaving substantial profit margins for domestic substitution. The company began its layout in 2024 and has introduced multiple product grades suitable for applications in 3C electronics and energy storage. However, there remains a gap compared to Japanese products in certain high-end power battery applications. The company is actively advancing technical optimization and engaging with downstream customers for technology adoption, with order timing largely influenced by the adoption cycle. In terms of capacity planning, the company benefits from its mature MBS production lines, which provide ample capacity reserves without the need for large-scale new construction. At present, the battery binder business is still in its early stages, undergoing customer validation and R&D enhancement, and has not yet generated bulk shipment orders. Its impact on performance remains very limited, and future progress in this segment carries uncertainties. Investors are advised to fully understand and acknowledge the associated investment risks.