Under calm conditions, there is an undercurrent surging, with the core variable coming from the capital withdrawal operations of leading individual factories. Last week, the leading factory comprehensively lowered the online platform quotation, stating that the subsequent online quotation will remain consistent with the actual transaction price. At the same time, it will completely cancel cash on delivery and all transactions will be changed to "payment before delivery". Behind this decision is its proactive move to accelerate cash flow and alleviate financial pressure. At the same time, in order to stabilize core customers and avoid customer loss due to sudden changes in settlement methods, leading factories quickly launched a "targeted discount" strategy after canceling monthly settlements: customers who had previously cancelled monthly settlements could enjoy a price discount of 500 yuan/ton, with a minimum order quantity of 300 tons per transaction. Taking raw rubber as an example, other individual factories still adhere to a price range of 15800-16000 yuan/ton, while the actual transaction price of the leading factory after discounts is 800-1000 yuan/ton lower than other factories. It is understood that there is also a 3-month price guarantee service, and such a significant discount has stimulated some enterprises to enter the market and stock up. However, the market's response is not one-sided. Although some companies with sufficient inventory are attracted by preferential prices, they also show obvious concerns: whether other individual factories will follow up on prices in the future, especially in cash transactions, delivery speed has become an important consideration for mid to downstream enterprises. Overall, other individual factories have been scheduled until June, DMC、 The quotations for core products such as raw rubber and 107 rubber remain stable. The core purpose of this wave of chain operations by leading factories is to convert book orders into real cash flow by tightening credit and offering incentives, in order to alleviate their own capital turnover pressure. At present, the main impact is on the purchasing enterprises of 107 glue and raw glue. The overall cost difference between cancelled unpaid orders and the current discounted prices is not too volatile, but the financial pressure has significantly increased. At the critical stage of the current supply-demand tug of war, any changes in concessions undoubtedly lead to a significant increase in bearish expectations in the middle and lower reaches.