Tond Sci-Tech's 240kt/year of BDO and 60kt/year of PBAT to be put into trial production by end-2023

Tond Chemical (002360.SZ) has released its semi-annual report for 2023. During the reporting period, the company achieved operating income of 483 million yuan, a year-on-year increase of 5.24%. The net profit attributable to shareholders of the listed company was 88.6 million yuan, a year-on-year increase of 3.10%. The net profit attributable to shareholders of the listed company, excluding non-recurring gains and losses, was 83.13 million yuan, up 2.60% year on year. The basic earnings per share were 0.22 yuan.

The wholly-owned subsidiary, Tond Sci-Tech, has invested in a new project for the production line of an integrated product with an annual output of 60kt of bio-based degradable plastics (PBAT) and 240kt of 1,4-butanediol (BDO), which is the raw material for PBAT. The project is located in Yuanping Economic and Technological Development Zone, Xinzhou City, Shanxi Province. It is a strategic emerging industry supported during the "14th Five-Year Plan" period and a major project in the Taiyuan-Xinzhou economic integration zone in Shanxi Province. The project is currently under construction in an orderly manner, and it is expected to be put into trial production before the end of 2023.