Core Viewpoint - The company, Jindan Technology, emphasizes its role as a leading player in the domestic lactic acid industry and its commitment to fulfilling social responsibilities as a listed company, promoting healthy industry development [1] Group 1: Company Positioning - Jindan Technology is recognized as the current leader in the domestic lactic acid industry [1] - The company aims to actively fulfill its social responsibilities [1] Group 2: Pricing Strategy - The pricing of the company's products is determined by a comprehensive consideration of market supply and demand, fluctuations in raw material prices, and breakthroughs in technological processes [1]

Group 1 - The news reported that Jiang Dongliang and his team have developed a corn-based biodegradable bone screw technology that has broken foreign monopolies and is at an internationally leading level, capable of degrading into carbon dioxide and water without a second surgery, with hardness comparable to metals and non-toxic [2] - Jiang Dongliang is the technical director of Henan Jindan Lactide Technology Co., Ltd., which focuses on deep processing of corn [2] - Jindan Technology (300829.SZ) responded that the reported content was not confirmed by the company and does not reflect the current situation, and they have requested corrections from the media [2] Group 2 - Jindan Technology's main business includes the research, production, and sales of lactic acid and its series of products, and it has become a leading enterprise in China's lactic acid industry with high brand recognition [3] - The company is currently constructing a polylactic acid project with an annual production capacity of 75,000 tons, expected to be completed by June next year, with potential for mass production if the trial runs meet standards [2] - As of the latest trading session, Jindan Technology's stock price was 19.20 yuan per share, with a total market capitalization of 4.4 billion yuan [4]

Core Viewpoint - The news discusses the claims regarding a biodegradable corn-based bone screw technology developed by Jiang Dongliang and his team, which reportedly breaks foreign monopolies and is at an international leading level. However, the company, Jindan Technology, has clarified that these claims are unverified and do not reflect the current situation of the company [1]. Company Summary - Jiang Dongliang is the technical director of Jindan Technology, focusing on deep processing of corn [1]. - Jindan Technology has a polylactic acid (PLA) project under construction, with a capacity of 75,000 tons, expected to be completed by June next year [1]. - The company has not yet made a decision regarding the application of PLA in the development of bone screw products [1].

Core Viewpoint - JinDan Technology (300829.SZ) is a leading player in the domestic lactic acid industry, having established a comprehensive "corn-lactic acid-lactide-polylactic acid" industrial chain, particularly focusing on biodegradable materials like polylactic acid, which is seen as a potential blue ocean market [3][5]. Group 1: Company Overview - JinDan Technology has an annual production capacity of 183,000 tons for lactic acid and its derivatives, making it the leader in the domestic lactic acid sector [6]. - The company is currently expanding its lactic acid production capacity by an additional 50,000 tons, with an investment of 313 million, expected to be 75% completed by the end of 2024 [7]. - JinDan is located in a major corn-producing area in China and is extending its operations into upstream corn cultivation, planning to contract over 17,000 acres for high-starch corn cultivation in 2024 [8]. Group 2: Downstream Expansion - The company is extending its operations downstream into lactide, polylactic acid, and modified materials, which is a key strategic direction for JinDan [9]. - In 2024, JinDan has projects under construction that include a 10,000-ton lactide and a 75,000-ton polylactic acid biodegradable materials project [10]. - Additionally, JinDan has a project for producing 60,000 tons of biodegradable polyester and its products, with a budget of 466 million, expected to be completed by the end of 2024 [11]. Group 3: Industry Challenges - The lactic acid industry is currently characterized as a red ocean, with significant competition and pressure on prices, leading to a decline in revenue and profitability for JinDan [12][14]. - In 2023, the global lactic acid industry had a total capacity of 1.193 million tons, but the market is facing oversupply, resulting in a drop in JinDan's gross margin to 18.9%, the lowest on record [14]. - JinDan's net profit for 2023 was 85 million, a year-on-year decline of 35.54%, with projections for 2024 indicating a further drop to 37 million [15]. Group 4: Market Dynamics - The polylactic acid industry is experiencing rapid capacity expansion, with China's production capacity expected to reach 300,000 tons in 2024 and over 1 million tons by 2025, while consumption is only projected at 120,000 tons [19]. - The competitive landscape is intensifying, with many companies planning significant capacity expansions, leading to concerns about future oversupply [19][20]. - JinDan's projects have faced delays, with the 75,000-ton polylactic acid project now expected to be completed in June 2026, reflecting broader industry challenges [23].