main business development, continue to strengthen the modified plastics business sector

In 2024, the sales and gross profit of the modified plastics sector both achieved stable growth. It is expected that the net profit attributable to the shareholders of the listed company for the year 2024 will be between 8.00 billion yuan and 9.50 billion yuan, a year-on-year increase of 152.58% to 199.94%. The production at the Vietnam and Spain bases has been successively completed, while the construction of the Mexico and Poland bases is being steadily advanced.

fully biodegradable plastic

The company has further enriched the application of fully biodegradable plastics in industries such as agriculture, electronics and electrical, toys, and consumer electronics, and has strengthened team expansion and capacity building globally, forming a global marketing team covering industry, key accounts, and regional sales. In 2024, the sales of fully biodegradable plastic products achieved continuous and rapid growth.

special engineering plastics

The company has expanded the application of special engineering plastics in industries such as high-speed transmission, new energy vehicles, energy storage, AI, robotics, and drones, further enhancing the competitiveness and market share of its products. In 2024, both sales and gross profit of special engineering plastic products achieved stable growth.

(3) carbon fiber and composite materials

The company focuses on areas such as power battery bottom protection plates, sealing caps, and drone composites, successfully expanding top clients in the domestic low-altitude economy sector, with a significant increase in revenue from carbon fiber and composite material products in 2024.

Innovation leadership, accelerate the development of new quality productivity.

The company's LCP products are widely used in core components such as high-speed connectors and high-rotation cooling fans, contributing to the high-speed and stable operation of AI servers and big data centers. The company's crack-resistant LCP materials have been extensively used in new energy battery structural parts, enhancing the encapsulation efficiency and safety of new energy batteries. The company has developed a new generation of halogen-free flame-retardant semi-aromatic polyamides, addressing the issues of cold and heat shock cracking and electrical safety for the three key components of new energy vehicles, quickly becoming an industry benchmark. The capacity construction situation for 2024 is as follows.

The 0.6 million tons per year PPSU/PES synthetic resin plant was put into operation and ran stably in June 2024.

(2) The company's project to produce 15,000 tons of LCP synthetic resin annually is planned to gradually start production in the second quarter of 2025. The company's LCP film heat treatment equipment has been built and put into operation, and related products have achieved mass sales in acoustic diaphragms.

(3) The company has developed high crystallinity bio-based PBAT, PBT, PBST, and other products, aligning with the development concept of "carbon peak and carbon neutrality," significantly enhancing product competitiveness.

(4) The company's annual production of 10,000 tons of bio-based BDO project has been completed and put into operation.