Dawn(SZ:002838)2025-10-30 07:28Company Overview - Daon High Polymer Materials Co., Ltd. was established in 2002, focusing on the R&D, production, and sales of high-performance thermoplastic elastomers, modified plastics, color masterbatches, and polyester materials [2] - The company has an annual production capacity of 500,000 tons for modified plastics, 90,000 tons for thermoplastic elastomers, 30,000 tons for color masterbatches, and 60,000 tons for copolyester materials [2] - Daon has developed the first domestically-owned TPV production line in 2006, breaking international technology monopolies and winning the National Science and Technology Award [2] Financial Performance - In the first three quarters of 2025, the company achieved a revenue of CNY 4.456 billion, a year-on-year increase of 18.23% [3] - The net profit attributable to shareholders reached CNY 131 million, up 32.96% year-on-year [3] - The net profit after deducting non-recurring gains and losses was CNY 122 million, reflecting a growth of 46.07% [3] Product Development and Capacity - DVA has a current pilot production line of 5,000 tons and is constructing a dedicated production line of 20,000 tons to meet future demand [5] - The copolyester materials, including PCT, PETG, and PCTG, have filled domestic gaps, with a 20,000-ton PCTG production line under construction [9] - HNBR products are widely applicable in aerospace, oil exploration, automotive, and new energy sectors, achieving import substitution [8] Mergers and Acquisitions - The acquisition of Daon Titanium Industry is aimed at enhancing synergy in the chemical new materials sector, focusing on high-end lithium battery materials and photovoltaic new materials [6] - The board meeting held recently updated the audit benchmark date to June 30, 2025, indicating progress in the acquisition process [7] Collaboration and Innovation - Daon is actively involved in recycling materials through its subsidiary, Qingdao Haier New Materials R&D Co., Ltd., which produces modified plastics for Haier appliances [10] - The company is developing products for robotics, including ultra-soft artificial muscles and modified materials for robotic arms, aligning with industry advancements [10]