Shandong Daye (SH:603278) Da Zhong Ri Bao·2025-11-27 04:10Core Viewpoint - Daye Co., Ltd. has officially entered the implementation phase of its Morocco project, focusing on its core steel cord business and aiming to establish a leading benchmark project in the region, aligning with China's Belt and Road Initiative and enhancing Sino-Moroccan economic cooperation [1][3]. Group 1: Project Overview - The Morocco project involves the construction of a production base with an annual capacity of 100,000 tons for steel cord and tire bead wire, divided into two phases: the first phase will establish 40,000 tons/year for each product, while the second phase will add another 60,000 tons/year for each [3][4]. - The total investment for the project is approximately $11.74 million, with the overseas entity named Daye Morocco Co., Ltd., focusing on production, sales, and import-export activities [3][4]. Group 2: Implementation Strategy - A specialized project implementation team has been formed, completing essential preparatory work such as market research, domestic registration, and overseas company registration, with land procedures currently underway [4]. - The project will be executed in three phases: the first phase involves forming a local core team and compliance registration; the second phase focuses on establishing a localized supply chain and customer service network; the third phase aims for large-scale operations, targeting production efficiency by mid-2027 [6]. Group 3: Market Context and Future Plans - Morocco is positioned as a trade hub between Europe, Africa, and the Middle East, offering favorable investment policies, a broad network of free trade agreements, and significant cost competitiveness [6]. - The company plans to continuously invest resources into the Morocco project, leveraging its cross-border operational capabilities and collaborative support systems between China and Morocco to ensure efficient project execution [6]. Group 4: Financial Performance - In the first three quarters of 2025, the company reported a main revenue of 3.778 billion yuan, a year-on-year decrease of 1.6%, while the net profit attributable to shareholders was 23.3752 million yuan, an increase of 121.71% [6]. - The third quarter saw a main revenue of 1.257 billion yuan, a year-on-year increase of 4.03%, but a net loss attributable to shareholders of 19.0227 million yuan [6].