Key Player – Henan Jindan Lactic Acid Technology Co., Ltd. (300829.SZ) released its 2024 annual report on April 21, showcasing growth in both operating revenue and cash flow. The company, known for producing lactic acid, sodium lactate, and calcium lactate, has continued to expand its market presence.
Jindan Reports 2024 Annual Growth
| Item | 2024 Amount,RMB | Percentage | 2023 Amount,RMB | Percentage | YOY change |
| Revenue | 1,505,361,017.89 | 100% | 1,418,129,886.71 | 100% | 6.15% |
| Breakdown by Product | |||||
| Lactic acid | 864,799,906.15 | 57.45% | 777,255,085.36 | 54.81% | 11.26% |
| Lactate | 330,453,784.16 | 21.95% | 300,437,880.30 | 21.19% | 9.99% |
| By-products | 127,330,864.51 | 8.46% | 164,501,731.60 | 11.60% | -22.60% |
| Others | 182,776,463.07 | 12.14% | 175,935,189.45 | 12.41% | 3.89% |
| Breakdown by Region | |||||
| China | 964,115,545.95 | 64.05% | 958,305,982.71 | 67.58% | 0.61% |
| Overseas | 541,245,471.94 | 35.95% | 459,823,904.00 | 32.42% | 17.71% |
Jindan continues to strengthen its position in the global market, highlighting the ongoing demand for bio-based chemicals like lactic acid, which are widely used in food, bioplastics, and pharmaceuticals.
Jindan’s key project in 2024
| NO | Project Name | Progress |
| 1 | 75,000 t/a Polylactic Acid Biodegradable New Material Project | Project Planning |
| 2 | 60,000 t/a Biodegradable Polyester and Its Products Project | Further optimized and improved in 2024 to better adapt to market demand. |
| 3 | Industrialized Planting of High-Starch Corn by Henan Jindan Morden Agricutural Development Co., Ltd | By the end of 2024, the contracted land area for industrialized planting of high-starch corn is about 1,133 hectares. |
| 4 | Phase II of the Heating Center in Dancheng County Industrial Cluster Area | The project was completed and passed the test runs in the second half of 2024. |
| 5 | 50,000 t/a Lactic Acid Expansion and Renovation Project | By the end of 2024, the on-site construction is completed, and the test run will take place this year |
Key Clients and Suppliers
Jindan’s main customers include TotalEnergies Corbion LTD and Dongguan Judokan Chemical Technology Co., Ltd. Its key suppliers are Dancheng County Zhongcheng Environmental New Materials Co., Ltd. and Henan Pingmei Shenma Dongsda Chemical Co., Ltd.
Global Supply
According to data from the General Administration of Customs of China (GACC), exports of lactic acid and its salts and esters increased year on year from 2020 to 2022. In 2023, the export volume dropped by 1.79%, while imports rose by 42.52% compared to the previous year. However, in 2024, exports are expected to rise by 23.16%, and imports are forecasted to decrease by 23.62%.
Leading global lactic acid producers include Corbion, NatureWorks, Jindan, BBCA Group, Henan Xinghan Biotechnology, Jingliang Longjiang Biotechnology, Baisheng Biotech, Ningxia Qiyu Bio-New Materials, Jungbunzlauer, and Galactic. Companies with production capacities exceeding 100,000 tons annually include Corbion (Netherlands), NatureWorks (USA), and Jindan (China), among others.
