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On December 16, Daon Co., Ltd. issued a announcement regarding the addition of new elements to the investment project funded by the funds raised through the private issuance of shares, specifically related to the expansion of its 120,000-ton full PBAT production facility to include the production of specialty polyesters on a 10,000-ton scale. The company has decided to use up to 70 million yuan of its own funds to carry out technical upgrades to the 120,000 tons per year fully biodegradable plastic PBAT project (Phase 1), in order to increase its production capacity and enable it to meet the industrial production needs of copolyester products such as PETG. The implementation of this project is based on market demands and industry development trends, with the aim of optimizing the company’s product portfolio and enhancing its overall competitiveness. Production conditions are now in place. The details of the new implementation are as follows: Overview of the new project investment. Project name: Project to increase production by 10,000 tons per year of special copolyesters. Nature of the construction: Technical upgrade. Contents of the project construction: A technical upgrade will be carried out on the existing 120,000 tons per year full-biodegradable plastic PBAT plant (Phase I); some new equipment will be purchased, and additional auxiliary facilities will be built. Upon completion of the technological upgrade, the original PBAT production process and capacity remain unchanged, with an annual increase of 10,000 tons in copolyester products such as PETG. Project investment amount and source of funds: Own funds of up to 70 million yuan are planned to be used (the final total project investment will be based on the actual investment amount). Implementing entity: Shandong Daon Degradable Materials Co., Ltd. As of June 30, 2024, the company has spent 644 million yuan in funds, of which 236 million yuan has been used for the PBAT project. Following this technological upgrade, the production process and capacity of the PBAT project will remain unchanged, while the additional annual capacity of 10,000 tons from the new specialty copolyester project will help meet market demand. The company believes that this addition to the implementation scope is in line with **industry policies, and it will not have a negative impact on the company’s normal operations. In the first three quarters of 2024, Daon Co., Ltd. generated revenue of 3.769 billion yuan, with a net profit attributable to the parent company amounting to 98.22 million yuan. PETG (polyethylene terephthalate-1,4-cyclohexanedimethanol) is a transparent, amorphous copolyester that constitutes an environmentally friendly material. It features high transparency, with a temperature resistance range of 65–70°C. It possesses excellent thermoforming properties, toughness, weather resistance, processability, and chemical resistance, making it suitable for manufacturing thick-walled transparent products. It serves as an ideal alternative to PVC, PC, and PMMA materials. It is primarily used in high-toughness, halogen-free sheets for various identification cards, as well as in transparent containers for cosmetics and detergents.