On October 11th, Dawn Polymer issued an "Announcement on External Investment and Equity Cooperation", stating that it planed to jointly invest with  Qingdao Ruibo Ecological Environmental Protection Technology Co., Ltd., Haier Smart Home's holding subsidiary, to establish Qingdao Haier Environmental Protection Material Technology Co., Ltd(temporary name). to engage in the research and development, production and sales of PCR plastic recycling materials. They will work together to promote the rapid development of recycling business and build a leading domestic recycling new materials company with industrial competitiveness.

Currently, the scale of the global recycling new materials industry is in a stage of rapid growth, among which recycled plastics is one of the key development industries. According to reports, the global post-consumer recycled plastics market was valued at approximately $11.09 billion in 2023. It is expected to grow at a compound annual growth rate (CAGR) of 10.60% from 2024 to 2032, reaching an estimated market size of $27.34 billion by 2032. China has introduced multiple policies to encourage and support the increased use of recycled plastics in sectors such as household appliances, automobiles, and packaging. The push for mandatory recycled plastic content is becoming a global trend.

On March 19th, 2024, Li Huagang (left), Senior Vice President of Haier Group and Chairman of Haier Smart Home, visited Dawn

As Haier's recycling business platform, Qingdao Ruibo owns four wholly-owned subsidiaries, primarily focused on the recycling and utilization of plastics. Dawn Polymer has actively participated in the formulation and revision of PCR (post-consumer recycled) technology standards, submitted 6 international standard proposals and issued 5 domestic standards. It is accelerating its entry into the blue ocean of the recycling economy. In the future, the stable supply chain capabilities and technological barriers in the recycling plastics industry will become key competitive factors. "We are confident that we can produce recycled plastics with high physical and chemical properties, high purity and that meet the standards for use in high-end application areas," said Tian Hongchi, Director and General Manager of Dawn Polymer.

On May 19th, 2022, Ren Xianquan (right), Vice President of Haier Smart Home and General Manager of Recycling Industry, visited Dawn

Over the years, Dawn Polymer has consistently adhered to the philosophy of “making recyclable plastic products easier to recycle, making hard-to-recycle plastic products more degradable, and ensuring that non-degradable materials are green and low-carbon.” This investment in establishing a joint venture with Haier builds upon years of friendly cooperation between the two companies. By complementing each other’s strengths and empowering one another, both companies will work together to develop high-quality customer resources and actively cooperate to expand their business. This collaboration aligns with national industrial policies, industrial development trends, and the company’s future growth strategy, benefiting Dawn Polymer’s strategic layout and development.