The company released its 2024 annual report on the evening of 29 April 2025, reporting revenue of RMB 466 million. The two core businesses — polyetheramine and optical materials — developed along different paths during the period.
Polyetheramine: exports and product mix
With domestic demand soft and prices under pressure, the company strengthened its international sales network through a Hong Kong subsidiary and pushed higher-value exports. Exports of MA223 accounted for 60% of that grade’s total sales for the year, and sales of small-pack polyetheramine reached 4,350 t, up about 24% year on year.
Optical materials: record volume
Sales of isobornyl acrylate and methacrylate and related products exceeded 6,300 t, up 20% year on year, supported by demand for high-end automotive coatings from the new-energy vehicle sector and by the company’s work on lower-emission coating materials.
COC: kilotonne line in trial production
The kilotonne high-clarity material (COC) line entered trial production, and product from it is under test with downstream customers in several fields. The optical-grade cyclic olefin copolymer offers high transmittance, low birefringence, low water absorption, high rigidity, high heat resistance and good water-vapour barrier properties, meeting the requirements of high-definition lenses, pharmaceutical packaging and new-generation displays.
R&D
Four new in-house projects were added in 2024: COC for biopharmaceutical packaging, COC for electronic and optical use, reaction-engineering scale-up of cyclic olefin monomer to the ten-thousand-tonne scale, and development of a complete ten-thousand-tonne COC process package.
The company’s project on COC-based bone repair and organ-chip materials was shortlisted under the first batch of the Biomedical Materials Innovation Task programme jointly organised by MIIT and the NMPA, with three invention patent applications filed.
Dividend
A cash dividend of RMB 1.00 per 10 shares (before tax) was proposed, totalling RMB 9.57 million.
Excerpted from the company’s official WeChat account. The periodic reports filed with the Shanghai Stock Exchange are the definitive source.