On March 28, Lianhekun disclosed its 2024 annual report. In 2024, the company achieved operating total revenue of 6.268 billion yuan, a year-on-year decrease of 7.52%; net profit attributable to shareholders was 234 million yuan, a year-on-year decrease of 47.45%; non-recurring profit or loss was 185 million yuan, a year-on-year increase of 2.00%; net cash flow from operating activities was 594 million yuan, a year-on-year decrease of 32.18%.

Lexon New Materials is a supplier of new material products and solutions, mainly engaged in the research and development, production, and sales of advanced polymer materials and specialty fine materials. Its business segments include new energy materials, biodegradable and bio-based materials, electronic materials, and other specialty materials.

The bio-degradable materials invested in by Lianke New Materials include PLA and PPC, which are produced by its subsidiaries Jiangxi Keyuan Bio-New Materials Co., Ltd. and Lianke Green (Shandong) New Materials Co., Ltd., respectively. The PLA project utilizes a self-developed full industrial chain technology of "starch-high optical purity lactic acid-high optical purity lactide-polylactic acid." The 100,000 tons/year lactic acid plant and the 40,000 tons/year PLA plant were completed and put into operation in 2024. Qualified PLA has been produced, which is now being introduced to the market, and new application scenarios such as 3D printing are being developed.

The 50,000 tons/year PPC project under construction is scheduled to be completed and put into operation in 2025. The main raw materials, PO and carbon dioxide, are self-produced, which not only gives it a significant industrial chain advantage but also reduces carbon dioxide emissions. The project adopts the latest generation of catalyst technology co-developed with relevant institutes of the Chinese Academy of Sciences. It is fully biodegradable under natural conditions and has the advantages of good rigidity and toughness balance, excellent barrier properties, and high transparency.

Liaoyang New Materials stated that in the future, they will continue to increase their business layout in biodegradable materials, invest more in biodegradable and bio-based materials, and actively promote the technological development and industrialization process of new bio-based sugar substitutes and other new bio-based materials.