Dawn Company Plans to Invest 70 Million Yuan to Expand PBAT Project

On December 16, Dawn Company Limited announced in a statement its plan to utilize its own funds for the renovation and expansion of an existing project.

According to the announcement, Dawn intends to invest no more than 70 million yuan of its own funds to carry out technical modifications on its existing 120,000 tons/year biodegradable plastic PBAT project (Phase I) and to add certain implementation details to enable the production of PETG and other copolyester products at the same facility.

Public information shows that Dawn was approved in 2022 to conduct a private placement of up to 122,773,504 shares of ordinary shares. The actual net fundraising amount from this private placement was 760,009,182.74 yuan.

The announcement further elaborated that to utilize the PBAT project facility more effectively, Dawn decided to use its own funds for the technical modifications to the 120,000 tons/year biodegradable plastic PBAT project (Phase I) to enable it to produce PETG and other copolyester products simultaneously. The project is currently ready for production.

The new implementation details include:

PETG is an environmentally friendly material with high transparency, temperature resistance between 65 to 70 degrees Celsius, and excellent thermoforming performance, toughness, weather resistance, ease of processing, and chemical resistance. It is suitable for producing thick-walled transparent products and is an ideal substitute for materials such as PVC, PC, and PMMA. PETG is mainly used in high-toughness, halogen-free sheet materials, such as various identification cards and transparent containers for cosmetics and detergents.