On April 25th, Zhejiang Dragon Technology Co., Ltd. (referred to as “Dragon Tech”) released its 2023 annual report and the first-quarter performance report for 2024.
According to the financial report, Dragon Tech’s operating revenue for 2023 was 742 million yuan, a year-on-year decrease of 10.74%. The net profit attributable to shareholders was 174 million yuan, a year-on-year increase of 15.54%. The non-recurring net profit was 177 million yuan, a year-on-year increase of 18.23%.
Breaking down the revenue by products, the operating revenue for hair dye raw materials was 545 million yuan, a year-on-year decrease of 6.73%. The operating revenue for special engineering materials was 80.1575 million yuan, a year-on-year decrease of 2.90%. The operating revenue for plant protection materials was 82.4806 million yuan, a year-on-year decrease of 23.25%. The operating revenue for other materials was 28.3659 million yuan, a year-on-year decrease of 45.08%.
The financial report indicates that during the reporting period, Dragon Tech continued to improve its product matrix, adhere to quality standards, and strengthen the construction of overseas warehousing and logistics systems for hair dye raw materials. They also maintained long-term friendly cooperation with internationally renowned cosmetic groups such as L’Oreal, Wella, and Henkel, while continuously exploring business opportunities with other well-known brands, emerging brands, and domestic brands, strengthening channel construction and structural optimization.
In addition, in the first quarter of 2024, Dragon Tech reported operating revenue of 147 million yuan, a year-on-year decrease of 23.34%. The net profit attributable to shareholders was 42.335 million yuan, a year-on-year decrease of 12.39%. The non-recurring net profit was 43.5285 million yuan, a year-on-year decrease of 8.49%.
Public information indicates that Dragon Tech is a high-tech enterprise primarily engaged in the research, production, and trading of fine chemical products. Its main customers include applications in cosmetics and special engineering materials. Since its establishment, Dragon Tech has been dedicated to the research and industrialization of high-tech, high-value-added, and independently innovative fine chemical products. It has formed a business structure covering three major sectors: hair dye raw materials, special engineering materials, and plant protection materials. Currently, the company has become one of the major global producers of hair dye raw materials.
