Company Overview - Guoen Technology is a Chinese supplier focused on new chemical materials and upstream and downstream products of gelatin and collagen, serving the chemical and health industries [4] - The company has a diverse customer base, including manufacturers in the automotive, new energy, and home appliance sectors, as well as medical and pharmaceutical manufacturers in the health sector [4] Market Position - According to Frost & Sullivan, Guoen Technology is the second-largest company in China for organic polymer modified materials and organic polymer composite materials by sales revenue, with a market share of 2.5% in 2024 [5] - The company is also the largest producer of polystyrene in China by production capacity in 2024 [5] - In the health sector, Guoen Technology's subsidiary Dongbao Bio has established a comprehensive product layout from collagen peptides to end products, becoming a significant player in the health industry [5] Financial Performance - The company reported revenues of approximately RMB 134.06 billion, RMB 174.39 billion, RMB 191.88 billion, and RMB 174.44 billion for the fiscal years 2022, 2023, 2024, and the first ten months of 2025, respectively [6] - The net profit for the same periods was RMB 7.24 billion, RMB 5.4 billion, RMB 7.21 billion, and RMB 7.21 billion [7] - The return on equity for the fiscal years 2022, 2023, 2024, and the first ten months of 2025 was 12.3%, 8.5%, 10.2%, and 9.5%, respectively [9] Industry Overview - The global polymer materials market is expected to grow from RMB 298.9 billion in 2020 to RMB 456.15 billion in 2024, with a compound annual growth rate (CAGR) of 11.1% from 2020 to 2024 [11] - China's polymer materials market is projected to expand from RMB 110.8 billion in 2020 to RMB 162.8 billion in 2024, with a CAGR of 10.1% [11] - The market for organic polymer modified materials and organic polymer composite materials in China is expected to grow from RMB 303.8 billion in 2020 to RMB 544.8 billion in 2024, with a CAGR of 15.7% [14]