Dawn's operating income in the first half of 2021 will be 1.937 billion yuan and continue to develop new business growth points

 On the evening of August 19, Dawn shares (002838) disclosed the 2021 semi-annual report.
In the first half of the year, the company’s operating income was 1.
937 billion yuan, and the net profit attributable to shareholders of the listed company was 110 million yuan.
Compared with the special background of the same period in 2020 With a relatively high performance base, performance declined in the first half of this year
.
The company pays close attention to the development strategy and speed of the leading enterprises in the industry, accurately implements the strategy of advancing strategic goals, speeds up project construction, leads high quality with high standards, and realizes sustainable development of the company
.

Advantageous business continued to grow, and exports increased by nearly 1.
45 times.
The
company is currently the largest manufacturer of thermoplastic elastomer TPV in China and the largest masterbatch manufacturer in Jiangbei.
It firmly grasps the market advantage.
The thermoplastic elastomer business in the first half of the year, The color masterbatch business achieved operating income of 185 million yuan and 133 million yuan, respectively, representing a year-on-year increase of 1.
54% and 43.
44%
.
As the company’s main raw material upstream is synthetic resin, the market price is greatly affected by the fluctuation of oil prices.
In the first half of the year, the price of relevant bulk raw materials increased year-on-year, resulting in a significant increase in the cost of the company’s thermoplastic elastomer business and masterbatch business by 71.
98% and 60.
56%.
Interest rates have been reduced
.

In the field of functional polymer composite materials, modified plastics are the most promising sector in the field.
As a new material industry encouraged by the country, 78.
71% of the company's current income comes from modified plastics
.
The company has deployed multiple product lines in the field of modified plastics.
Among them, melt blown products experienced explosive growth last year due to the new crown epidemic.
Last year, the revenue of melt blown materials reached 1.
63 billion yuan, and sales were mainly completed in the first half of the epidemic.
, The company's modified plastics business revenue in the first half of 2021 has been greatly increased by 80% to a high base of 1.
877 billion yuan
.
With the effective control of the epidemic, the company's melt blown products have returned to normal this year, and other modified plastic products have maintained stable development
.

  In fact, the company’s modified plastics business has maintained rapid development in recent years.
In the first half of 2018, the first half of 2019, and the first half of 2021, the revenue was 285 million yuan, 911 million yuan, and 1.
525 billion yuan, respectively.
The compound growth rate of the business in the past two years is 29.
4%, and the compound growth rate in the past three years is 74.
87%, which is faster than that of most peer companies
.

  In addition, the company's product exports in the first half of the year increased significantly, achieving overseas revenue of 223 million yuan, an increase of 145.
24% year-on-year, and accounting for more than 10% of total revenue for the first time
.
At the same time, the company's asset scale has increased steadily.
As of the end of the reporting period, the company's total assets were 2.
983 billion yuan and net assets were 1.
955 billion yuan, both of which increased from the beginning of the year
.

  Develop new products and new customers, and make further
  efforts in the

automotive and large consumer sectors.
The company is committed to import substitution and consumption upgrades of new polymer materials.
The products are widely used in automotive transportation, home appliance communications, medical and health, and large consumption fields .
In recent years, the company has carried out targeted and forward-looking continuous technology research and development and industrialized production around the application needs of polymer composite materials in major downstream industries such as automobiles and electrical appliances, and has achieved a series of internationally advanced and domestic leading levels.
The technical achievements and honors of the company, and the achievements in the automotive sector are particularly remarkable .

  In the first half of 2021, the company intensified its technology research and development and market development.
In terms of thermoplastic elastomer business, the company’s airbag frame TPO successfully entered the world’s largest manufacturer of "automotive occupant protection system" Sweden Autoliv (Autoliv) ) System and mass sales
.

  In terms of modified plastics, the company has expanded to the instrument panel and sub-instrument panel frame, front-end module and spoiler in the automotive industry.
It has passed the general global standards GMW15549T1U, GMW15549T2U, T3U certification, and obtained TUV Rheinland Environmental Protection Certification lays the foundation for customers entering and exporting to the European Union
.
Cooperated on new products with customers such as Xiaomi, Suzhou, Hutchinson, Audi, Great Wall, Geely, Volvo, Volkswagen, etc.

.

  It is understood that the company has established long-term cooperative relations with many large domestic automobile companies.
Since 2006, it has become a supplier to many automobile manufacturers such as FAW Group, Shanghai Volkswagen, Great Wall Motors, Geely Automobile, etc.
, and has established a stable Partnership
.
In recent years, the company’s strategic layout has gradually expanded overseas, and successively cooperated with Kinugawa (Japan), Shenya Seals, Cooper (U.
S.
), Compalide (South Korea), Inoue Huaxiang (Japan) and other global automotive sealing systems, automotive Leading companies in the dust cover system industry have established cooperative relationships, and their products are used by automobile manufacturers such as Nissan, Honda, General Motors, Shenlong Motors, Hyundai Motors, and Great Wall Motors
.

  The interim report showed that the company invested a total of RMB 61,099,800 in research and development in the first half of the year, which effectively guaranteed the expenditure of the research and development department
.
As of this reporting period, the company has obtained 86 patents and is applying for 89 patents
.
It is worth noting that Qingdao Haier New Material R&D Co.
, Ltd.
, a subsidiary engaged in the research, development, and production of modified plastics, had a net profit of RMB 61,441,800 in the first half of the year.
In recent years, its sales income to customers such as Yanfeng Automobile has also shown an upward trend.

.

  In addition to the automotive industry, the company's color masterbatch business in the development of new customers is mainly oriented to large consumer areas.
Products such as Eisai white masterbatch, filament black masterbatch, and PP conductive masterbatch for pipette heads have developed Zhongcai Group and Shengfeng Fiber , Inke Environmental Protection and other customers formed batch cooperation
.

  Under the policy of carbon neutrality and plastic ban, the country actively explored new market additions.
The
  country put forward the goal of "carbon neutrality" in September 2020, superimposed the domestic "plastic ban" policy to continue to be implemented, and green environmental protection has become the theme of the industry
.
Dawn Co.
, Ltd.
actively implements the carbon neutral policy, based on green chemicals, uses the platform's R&D advantages, and is committed to the development and production of new materials with energy-saving and environmentally friendly characteristics
.
The company stated in its investor relations activities in the first half of the year that the company has developed new thermoplastic elastomer skin products in the field of automotive TPVs, replacing traditional PVC skin materials, which not only conforms to the “carbon neutrality” advocated by the country, but also greatly improves The production efficiency of finished products will become a trend in the future
.

  The company also disclosed in this year’s interim report that during the reporting period, it cooperated with China Textile Institute and Qingdao Zhou’s Company.
The two-pronged approach of “raw materials” and “packaging” opened up a complete industrial chain in the field of bio-based material R&D, manufacturing and packaging.
From the source to the product layout
.
Promote the construction progress of the degradable PBAT project as planned, and strive to realize the commissioning as soon as possible
.
Degradable film materials, injection molding materials, and extrusion materials were introduced to form two major product lines of inorganic filling and starch filling, and the product structure was further enriched
.

  As the company's strength increases, the company will rely on the capital market to explore new profit growth points and business growth
.
During the reporting period, the company announced on June 5 the "Preplan for Non-public Issuance of A Shares in 2021" and other proposals.
The Southwest Headquarters Base Project (Phase I) and supplementary working capital of En shares
.
The fundraising project is carried out around the company's main business, has good market development prospects and economic benefits, and is in line with the national industrial policy and the company's overall strategic plan
.
It will help the company optimize its financial situation, expand its business scale, increase profitability, and enhance its core competitiveness, which will provide guarantee for the company's sustainable and healthy development
.
(CIS)