Zhitong Finance and Economics APP News, Shandong Dawn Polymer (002838.SZ) issued an announcement, stating that the company plans to jointly invest with Qingdao Ruibo Ecological Environmental Protection Technology Co., Ltd. ("Qingdao Ruibo") to establish Qingdao Haier Environmental Protection Material Technology Co., Ltd. (Tentative name, subject to the industrial and commercial registration, hereinafter referred to as "Target Company"), engaging in the research and development, production, and sales of PCR plastics recycling materials business.

Qingdao Ruibo subscribed to a capital contribution of RMB 40.8 million, in cash, accounting for 51% of the total registered capital of the Target Company; the company subscribed to a capital contribution of RMB 39.2 million, in cash, accounting for 49% of the total registered capital of the Target Company. Qingdao Ruibo is a subsidiary wholly-owned by Haier Smarthome, and is Haier's recycling business platform.

This investment to establish a joint venture company is based on the companies' long-standing friendly cooperation with Haier, leveraging their respective advantages in the industry to collaborate on the research and development, production, and sales of PCR plastics recycling materials business. Both parties will fully leverage their strengths, empower each other, jointly develop high-quality customer resources, actively expand their businesses, in line with national industrial policies, industry development directions, and the company's future development plans, conducive to the company's global strategy layout and development.