On the evening of August 25, Dawn Polymer (002838.SH) released its 2025 H1 financial report. During the reporting period, the company achieved a 24.08% year-on-year (YoY) growth in operating revenue, 38.93% YoY in operating profit, 33.67% YoY in total profit, and 26.14% YoY in net profit. Notably, net profit attributable to shareholders of listed companies, excluding non-recurring gains and losses, surged 41.69% YoY. It is understood that the robust development of strategic emerging industries in H1—such as smart automobiles, new energy, artificial intelligence (AI), humanoid robots, low-altitude economy, 5G communications, and new infrastructure—has injected strong momentum into the company’s sustained high-quality development, driving steady operations with remarkable highlights.

In H1, Dawn Polymer continued to leverage technological innovation to lead industrial innovation. It refined the top-level design for tech innovation, centered on three core R&D principles: "industrial chain collaborative innovation, high-end material breakthroughs, and green smart manufacturing." The company sorted out the basic interdisciplinary foundations of three business segments—elastomers, modified plastics, and copolyester materials—developed a technology map, identified core R&D directions for full-chain innovation, and committed to advancing the synergy between technology and industry. Patent quality improved significantly, with key technological fields protected to safeguard innovation outcomes. As of the end of the reporting period, the company held 273 valid patents.

Dawn intensified efforts in major R&D projects and made smooth progress in multiple new initiatives. It jointly carried out research projects, technological R&D, and product development with Beijing University of Chemical Technology, South China University of Technology, and Shandong University of Science and Technology, while deepening cooperation with Xi’an Jiaotong University in the low-altitude economy field. Additionally, it established its first overseas joint laboratory with CNCEC Japan Research Institute.

The company made a strong foray into high-end technology sectors, achieving breakthroughs in elastomer materials for robotic simulated skin. Dawn’s elastomer R&D team conducted concurrent research and reserve work on ultra-soft artificial muscle TPE, artificial skin SiTPV, conductive TPE, and thermochromic/photochromic TPE, securing significant progress.

Dawn accelerated new product verification, expanded business scope, and fostered new productive forces. In H1, it collaborated with a well-known tire enterprise to advance road testing of finished tires made with DVA materials; test data met expected targets, and the project is progressing as planned. As a disruptive technology, DVA materials can replace and upgrade the gas barrier layer of existing tires once testing is completed, promising broad substitution potential and bright prospects. Anhui Bosite New Materials Co., Ltd.—a newly acquired wholly-owned subsidiary—focused on silane-crosslinked polyolefin insulated cable materials, with future plans to develop products for power cables, automotive high/low-voltage wires, household wires, marine cables, and photovoltaic cables. The packaging segment boosted sales by tapping core customers, achieving sustained growth and developing two flagship products: milk tea bags for Mixue and backpack-style bags exported to Japan.

Dawn advanced its digital, green, and international transformation. It empowered production and operations with digitalization to enhance management precision, integrated data from production, quality, and benchmarking fields to improve decision-making efficiency, and actively promoted the implementation of digital projects—including an R&D project management platform, centralized procurement platform, production management system, financial shared service platform, and lighthouse digital initiatives. In H1, the company won multiple provincial and municipal awards in smart manufacturing and the digital economy.

For years, Dawn Polymer has adhered to the philosophy of "making recyclable plastic products easier to recycle, non-recyclable plastic products easier to degrade, and non-degradable materials greener and low-carbon." It actively participated in the formulation and revision of PCR technical standards for recycling and established Qingdao Haier Environmental Protection Material Technology Co., Ltd. in collaboration with Haier, focusing on R&D and application of environmental protection materials to accelerate its entry into the blue ocean of the recycling industry. In recent years, the company has accumulated experience in overseas layout and is now focusing on regions such as Southeast Asia, Central Asia, Africa, and North America to actively advance its global expansion.