On May 12th, Shandong Dawn Polymer Co., Ltd. issued an announcement that its holding subsidiary Qingdao Haier New Material R&D Co., Ltd. intended to jointly invest with Indell Co., Ltd. to establish Dawn Indell Co., Ltd. (temporary name) in Russia.

The registered capital of the joint venture for this investment was 300 million rubles. Qingdao Haier New Materials Co., Ltd. invested 270 million rubles accounting for 90% share; Indell Company invested 30 million rubles accounting for 10% share. According to reports, Dawn Indell is mainly engaged in the research and development, production, and sales of modified plastic products.

The establishment of a production base in Russia aims to actively respond to the national "One Belt and One Road" policy, open up the European market, improve the company's industrial layout, accelerate the process of international development, and promote the implementation of company's development strategy. "This investment will have a positive impact on the company's long-term development and corporate benefits. It is in line with the company's strategic development direction and will help improve the economic benefits and enhance the competitiveness." said Tian Hongchi, General Manager of Dawn Polymer.

Dawn Polymer was established in 2002 and listed on the Shenzhen Stock Exchange in January 2017. It is a nationally recognized high-tech enterprise engaged in the R & D and application of high polymer materials and is committed to the import substitution and consumption upgrade of high polymer materials. The products include thermoplastic elastomers, modified plastics, color masterbatches, melt-blown materials and biodegradable material., which are widely used in automobile transportation, home appliance communications, aerospace, medical and health, and large-scale consumption fields.