Haitaike Acquires New Third Board Company

In recent years, Haitaike has actively expanded its business scope, entering the modified plastics sector and vigorously advancing the "mold and molding integration" strategic layout. With a significant increase in mold business orders and a gradually rising contribution from the modified plastics business, Haitaike is expected to achieve a net profit attributable to shareholders of between 51.5 million and 66.8 million yuan in 2025, representing a year-on-year growth of as high as 226.86% to 323.97%.

In January 2026, the Hetai Ke Hefei modified plastic production base was successfully put into operation; at the same time, the company's convertible bond fundraising project "150,000 tons per year of high-performance new materials project" is also in the midst of construction, and is expected to be fully operational by 2027.

In terms of core business, Haitaike primarily serves the automotive manufacturing industry, while Xuyu Co., Ltd. focuses on the civil engineering sector, resulting in significant differences in product applications and customer structures. However, both companies are involved in the processing and modification of polymer materials.

Haitaike has already established a certain presence in the modified plastics sector, and Xuyu Co., Ltd.'s geogrids also use polymers as raw materials, indicating a degree of commonality in materials technology.

According to the data statistics of the China Association of Geosynthetic Engineering, the overall transaction scale of the geosynthetic materials market in China reached 89.6 billion yuan in 2025, with a year-on-year growth of 12.3%. The industry is still in an expansion phase, but the competitive landscape remains fragmented.