Core Viewpoint - Yongdong Co., Ltd. has demonstrated strong operational resilience and growth potential in its 2024 annual report, achieving stable revenue and profit growth despite industry challenges [2][4]. Financial Performance - The company reported a total revenue of 4.228 billion RMB and a net profit attributable to shareholders of 111 million RMB, representing a year-on-year growth of 9.90% and 11.50% respectively [2]. - The non-recurring net profit reached 110 million RMB, indicating robust financial health [2]. Business Segments - The revenue from carbon black products accounted for 63.94%, while coal tar processing products contributed 35.55% to the total revenue [2]. - The company is transitioning towards high-end products through a circular industrial chain that includes coal tar processing, carbon black production, waste gas power generation, and fine chemical new materials [2]. Production Capacity and Projects - The company has completed the construction of a 70,000 tons/year specialty carbon black production line, with a 40,000 tons/year carbon black project currently under construction [2]. - Upon completion, the total carbon black production capacity will exceed 450,000 tons/year, with a significant increase in the proportion of specialty carbon black [2]. Strategic Initiatives - Yongdong Co., Ltd. has received environmental assessment approval for its 500,000 tons/year coal tar deep processing project and 200,000 tons/year anthracene oil deep processing project, which will enhance its capabilities in high-value fine chemicals [3]. - The establishment of a "Digital Center" aims to promote automation and intelligence in production, thereby improving operational efficiency [3]. Innovation and Technology - The company holds 32 patents, including 20 invention patents, showcasing its leading technological strength in the industry [3]. - Yongdong's self-developed coal tar-based conductive carbon black production technology has reached an internationally advanced level, breaking the dominance of foreign enterprises in this product category [3]. Market Position and Client Relationships - The company maintains stable partnerships with renowned tire manufacturers such as Bridgestone, Sumitomo, Hankook, and Sailun, enhancing its market presence [3]. - In 2024, overseas revenue reached 436 million RMB, reflecting an 11.78% year-on-year increase, indicating improved penetration in international markets [3]. Environmental Commitment - Yongdong Co., Ltd. actively responds to national green and low-carbon development policies by reducing pollutant emissions through technological upgrades [3].