On the evening of April 1st, Dawn Polymer disclosed its annual report for the year 2023, showing a total operating income of CNY 4.544 billion, an increase of 0.41% compared to the same period last year. It achieved an operating income of CNY 1.18 billion in the fourth quarter, both showing growth compared to the third quarter. During the reporting period, the company developed 2,095 new products and conducted research on 127 projects, demonstrating the company's research and development vitality and development momentum towards new directions.

Thermoplastic Elastomer (TPV) is one of the core businesses of Dawn Polymer. Last year, the revenue from this segment increased by 16.91% year-on-year, with the development of 523 new products. The company continues to focus on dynamic vulcanization, esterification, and hydrogenation research platforms to enhance the development of high-end products, maintaining its leading technological edge in the industry. Products from the dynamic vulcanization, esterification synthesis, and hydrogenation reaction platforms are continuously iterated, and their application areas are expanding continuously.

According to the information provided, the dynamic vulcanization platform is accelerating the application of TPV technology in the scenario of new energy vehicle water pipes, aligning with the industry's new trends of lightweighting, carbon reduction, and cost-effectiveness in automotive materials. The materials and finished products developed through collaboration with downstream new energy pipe companies have all been validated and successfully applied to models from major OEMs such as BYD and SAIC, and have all entered into mass production.

The esterification synthesis platform has completed the layout of high-temperature polyester and copolyester (PCT, PETG, PCTG) material products. And it is accelerating the progress of technical renovation projects. High-temperature polyester possesses characteristics such as high temperature resistance, high toughness, scratch resistance, anti-yellowing, and low dielectric loss. Copolyester, on the other hand, is an environmentally friendly new material that does not contain bisphenol A. In the context of global health and safety regulations and environmental protection standards upgrades, it has been one of the new materials to replace polycarbonate (PC) and polyvinyl chloride (PVC).

In the field of modified plastics, the company has developed 1,223 new products, focusing on the development of conductive, thermal conductive, permanently anti-static, antibacterial and antifungal, hydrophobic and oil-repellent, spray-free, chemical-resistant, polyester alloy modules, breathable film series, energy storage battery modules, and other products. Dawn Polymer will continue to advance its strategy with major customers, upgrade services around the user experience of core products, and provide customers with comprehensive new material solutions throughout the process.

As a leading domestic provider of masterbatch solutions, Dawn Polymer's masterbatch business segment achieved a year-on-year revenue growth of 9.35%, with 349 new products developed. The company is accelerating its market layout for fiber masterbatch, general black and white masterbatch, biodegradable masterbatch, and filler masterbatch. Products such as chemical fiber PET filament hygienic white masterbatch, BOPET film white masterbatch and antibacterial masterbatch have achieved technological breakthroughs. Through technological innovation and product quality improvement, the competitive advantages of each product have been continuously consolidated.

With new product highlights emerging frequently, new research topics are becoming increasingly notable. The company's newly developed Cold-resistant Coolant Series TPV materials are currently in the mass production stage. The new energy vehicle water pipe materials, independently researched, developed, and produced by Dawn Polymer, are special-effect materials that adopt internationally leading production processes. The products exhibit stable mechanical properties, environmental protection, and natural visual aesthetics, meeting consumer demands for a higher quality of life.

Products-rooted, people-oriented, technology-led, and customer-first. In the future, Dawn Polymer will improve its R&D system, focus on specialization and innovation, focus on customer needs and pain points, gather research on new products, new processes, and new equipment, and develop competitive products. Additionally, various collaborative research projects such as "Development of a New Generation of Thermoplastic Vulcanizate Technology Based on Dynamic Covalent Thermal Reversible Cross-Linking" with academic institutions will drive product development and technological innovation, and they are expected to become new growth drivers to enhance the company's core competitiveness