DuPont China is under investigation by the State Administration for Market Regulation for suspected violations of antitrust law—what are the specific details?

It wasn’t until 2016 that a small company in Xiamen announced it had successfully broken through flash-spinning technology. Surprisingly, in 2017, a Jiangsu-based enterprise launched its own branded product, 'Kunlun.' With domestic firms now mastering this technology, China established its own ten-thousand-ton-scale production line—and began exporting products to the U.S. market. When its own 'treasure trove' was shattered, DuPont couldn’t stand idly by. In October 2024, DuPont filed a Section 337 investigation in the United States, accusing 18 Chinese enterprises of patent infringement—attempting to use patent rights to eliminate competitors. It assumed China would be helpless—but this time, DuPont miscalculated. Why? For one simple reason: the patents had expired. Nevertheless, DuPont China refused to back down, repeatedly escalating hostilities—from its 2016 PTT technology dispute with the private firm Meijingrong, to frequent 'anti-counterfeiting' statements targeting domestic materials in 2022. The multinational has been accused of long-term anti-competitive practices, including exclusive agreements and bundled sales, aimed at squeezing out domestic enterprises. In fact, this isn’t DuPont’s first act of bad faith. The 2004 'Teflon Cookware Carcinogen Scandal': Media reports revealed that DuPont’s non-stick coating might cause cancer. Instead of acting promptly, DuPont delayed resolution—and even defiantly blamed the media for 'misleading the public.' In 2019, DuPont invested RMB 4.7 billion to build a titanium dioxide plant in Dongying, Shandong—a project previously rejected in Taiwan due to environmental concerns. Now, in 2025, China’s antitrust authority has struck back. At 3 a.m. in Shenzhen, the State Administration for Market Regulation’s official website suddenly posted an explosive announcement: global chemical giant DuPont China Group has been placed under formal antitrust investigation! This comes precisely as domestic flash-spinning capacity is poised to exceed 100,000 tons—a critical juncture. Unlike previous antitrust actions targeting internet giants, this probe directly targets core technological barriers in the real economy, sending three major signals: • Breaking the 'Expiring-Patent Hegemony': The DuPont case sets a precedent by incorporating patent abuse into the scope of antitrust enforcement—clearing obstacles for domestic substitution; • Restructuring a Trillion-Yuan Industrial Chain: Global demand for flash-spun materials exceeds 2.5 billion square meters; localization means reshuffling话语权 (influence and control) across healthcare, new energy, and other sectors; • Competing for Rule-Making Authority: From passively responding to U.S. Section 337 investigations to proactively launching antitrust probes, China is employing rule-of-law tools to participate in global governance. If monopolistic conduct is confirmed, DuPont could face fines up to 10% of its annual sales revenue (Tyvek’s annual sales are approximately RMB 2.5 billion, meaning potential fines could reach RMB 250 million), or even be ordered to license its patents or divest business units.

20 Chemical Giants’ 2024 Performance Summarized!

Dow Inc. On January 30, Dow released its latest financial report: full-year 2024 net sales totaled USD 43.0 billion, down USD 1.6 billion year-on-year from USD 44.6 billion in 2023; GAAP net income was USD 1.2 billion, up from USD 660 million in 2023; operating EBIT stood at USD 2.6 billion, down from USD 2.8 billion in 2023. Cash flow from operating activities for continuing operations amounted to USD 2.9 billion, down from USD 5.2 billion in 2023. The report states that Dow is implementing cost-cutting measures totaling USD 1.0 billion—including eliminating 1,500 positions globally. Covestro On February 26, Covestro published its 2024 fiscal-year results: sales declined 1.4% to EUR 14.2 billion (compared to EUR 14.4 billion in the prior year), primarily due to lower selling prices; EBITDA remained stable, dipping only 0.8% to EUR 1.1 billion—meeting expectations; net profit was -EUR 266 million (versus -EUR 198 million in the prior year); free operating cash flow stood at EUR 89 million (down from EUR 232 million in the prior year). Notably, in Q4 2024, Covestro’s sales rose 0.9% year-on-year to approximately EUR 3.4 billion; EBITDA surged 44.7% year-on-year to EUR 191 million; and free operating cash flow jumped 246.6% year-on-year to EUR 253 million. Arkema On February 28, Arkema released its full-year 2024 results: sales reached EUR 9.5 billion—stable year-on-year. Volume growth of 2.4% was driven by expansion in Asia’s specialty materials business. EBITDA totaled EUR 1.532 billion, with an EBITDA margin of 16.1%, slightly up year-on-year. Recently, Arkema has invested in several major growth initiatives—including acquiring PIAM’s polyimide business, acquiring Ashland’s and Dow’s adhesive businesses, and adding new capacity within its Advanced Materials division—to serve attractive markets such as bio-based consumer goods, new energy, electrification, 3D printing, and sports. DuPont On February 11, DuPont released its 2024 financial results: full-year net sales reached USD 12.4 billion (approx. RMB 90.63 billion), up 3% year-on-year; organic sales rose 1%, while favorable portfolio effects contributed 3%, partially offset by a 1% negative impact from foreign exchange fluctuations. Operating EBITDA totaled USD 3.14 billion, up 7% year-on-year—driven primarily by higher volumes, productivity gains, and savings from restructuring efforts, partially offset by increased variable compensation. Notably, on January 15, DuPont announced it no longer intends to spin off its water solutions business, instead advancing the planned spin-off of its electronics business. Celanese On February 18, global chemical and specialty materials company Celanese reported full-year 2024 net sales of USD 10.3 billion, down 6% year-on-year—mainly due to persistently weak global demand across key end markets including automotive, paints & coatings, construction, and industrial sectors. 2024 consolidated operating loss was USD 697 million; adjusted EBIT was USD 1.6 billion, down 6% year-on-year; operating EBITDA was USD 2.4 billion—with corresponding margins of -7%, 16%, and 23%.

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DuPont de Nemours Inc reported earnings of 1.43 EUR per share, exceeding estimates by 12.69%, with revenue at 1.45 billion EUR. Analysts forecast higher figures for the next quarter.

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DuPont de Nemours Reports Strong Quarterly Earnings and Revenue

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Oak Thistle LLC Acquires 46,908 Shares in DuPont de Nemours Inc.

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