Golden Hair Technology: Multiple Specialty Engineering Plastic Projects to Be Launched!

After successfully exceeding a market capitalization of 50 billion on September 12, Jinfa Technology's stock price hit the limit up again on September 18, once surpassing 62 billion. As of September 24, the total market value was 54.1 billion. Jinfa Technology once exceeded 62 billion!

At the performance briefing on September 19, Jinfeng Technology responded to questions regarding its current capacity for specialty engineering plastics, plans for expansion, and the layout of future industries.

In the field of specialty engineering plastics, the company currently has a total production capacity of nearly 34,000 tons, covering 21,000 tons of high-temperature nylon, 6,000 tons of LCP, and 6,600 tons of PPSU. In the first half of 2025, the sales volume of the main products reached 14,800 tons, a year-on-year increase of 60.87%, with high-performance LCP materials achieving a leapfrog growth of 98.94% year-on-year. The first phase of the 15,000 tons/year LCP synthetic resin project, with a 5,000 tons/year facility, has completed electromechanical installation and is about to commence production. The 40,000 tons/year specialty polyamide project, including transparent polyamide and polyamide elastomer, has been initiated, with the first phase of 8,000 tons/year capacity planned to start production in the first quarter of 2026. The electromechanical installation of the kiloton-level polyimide project is underway and is scheduled to start production by the end of 2025. The 50,000 tons/year specialty engineering plastics blending and modification plant has begun civil construction, with the first phase of 15,000 tons/year capacity planned to start production in the second quarter of 2026.

Regarding future plans, Jinfa Technology stated:

Modified Plastics Sector: The company will fully strive for the "333" target, aiming for the global sales volume of modified plastics to exceed 3 million tons, the proportion of global engineering plastics sales to reach 30%, and the proportion of Fortune Global 500 clients to exceed 30%. Meanwhile, the company will accelerate the construction of overseas bases to enhance localized operation capabilities abroad.

2. New materials sector: The company will deepen the research and development and market expansion of fully biodegradable plastics, accelerate the commissioning of bio-based projects, and actively promote the implementation of new green applications downstream. In the field of specialty engineering plastics, the company will focus on traditional application areas such as electronic connectors, LED lighting and displays, and automotive components, while intensively expanding into emerging fields such as new energy vehicles, high-frequency communications, and humanoid robots. In terms of carbon fiber and composites, the company will actively expand the application research of composites in industries such as new energy vehicle power battery peripherals and drones.

3. Healthcare sector: The company will continue to promote the development of medical consumables such as gloves and masks, as well as industrial protection businesses. It will also increase research on the medical application of biomaterials and develop high value-added products.

Green Petrochemical Sector: The company will continue to promote the stable, long-term, and optimal operation of its facilities, strengthen the integration and collaboration of the industrial chain, optimize product quality, deepen strategic cooperation with leading customers, and continuously improve management efficiency.

In the emerging fields of high-tech electronic products, big data services, and robotic products, Kingfa Technology has collaborated with several leading industry companies on the joint development of materials for embodied intelligent robots, with some customers having entered the mass supply stage. Meanwhile, the company is advancing deep joint development projects with multiple potential customers, with results expected to be gradually realized in the future.

The developed non-halogen flame-retardant semi-aromatic polyamide with an electronic-resistant fluorinated liquid is widely used in immersion cooling server storage connectors, achieving high-speed data transmission at 12800MT/s. The newly developed low dielectric constant and low dielectric loss LCP is mass-applied in high-speed connectors for AI servers, with a transmission rate of up to 224Gbps. The ultra-temperature-resistant, fatigue-resistant, and wear-resistant PPA addresses the long-term usability issues of key components in robots and has been applied in the industry.

In terms of overseas, Jinfa Technology currently has multiple overseas production bases in the United States, Europe, India, Malaysia, Vietnam, and is actively promoting the construction of modified plastic projects in Mexico and Poland. The company plans to accelerate the capacity construction of its overseas bases in Poland and Mexico to fully leverage its mature experience and technological advantages in the field of modified plastics, further seize the high ground in the overseas market, and continuously enhance its global capacity.

On September 23, the Shanghai Automotive New Materials Innovation and Application Industry Alliance was officially inaugurated, with Jinhwa Technology serving as the chairman unit.The alliance will focus on the key material needs of new energy vehicles and smart cars, and is committed to promoting the demand alignment, technological breakthroughs, and innovative development of the automotive new materials industry.

On September 10, the alliance translated the above content into English.HeldAt the inaugural member conference, the meeting unanimously elected Shanghai Kingfa Technology Development Co., Ltd. as the chairman unit, with the company's Deputy General Manager Li Sheng serving as the chairman of the alliance. It recommended five units to serve as vice-chairman units: the School of Materials Science and Engineering at Tongji University, Shanghai Jinzhida Composite Materials Co., Ltd., BASF (China) Co., Ltd., Shanghai Huntsman Polyurethane Co., Ltd., and the Shanghai Carbon Fiber Composite Materials Innovation Institute. Lin Yinjun from Shanghai Kingfa Technology Development Co., Ltd. was appointed as the secretary-general of the alliance.

Shanghai Jinfa Technology Development Co., Ltd. (Shanghai Jinfa) is a wholly-owned subsidiary of Jinfa Technology, established in October 2001 with a registered capital of 370 million RMB. Its headquarters is located in Qingpu District, Shanghai.Zhujiajiao TownThe company will invest 1 billion yuan to implement the Golden Hair Technology Automotive Materials Global Innovation R&D Center and Industrialization Project, constructing a research and production base of approximately 160,000 square meters.To build Shanghai Jinfan into a professional automotive materials base and a comprehensive high-performance new materials production base.

It is understood that the Global Innovation R&D Center and Industrialization Project for Automotive Materials of Kingfa Sci & Tech Co., Ltd. officially obtained the land use rights for plots C-03 and C-06 in the Zhujiajiao Industrial Park in July 2020.Phase one of the project on February 7, 2022.(C-03 Plot)The construction in Zhujiajiao Industrial Park officially started and was fully completed in August 2023, entering the final inspection stage.

In February 2025, the Global Innovation and R&D Center for Automotive Materials and the Industrialization Project (Phase 3) of Jinfat Technology were successfully completed, with an expected annual production capacity of modified plastics exceeding 3.6 million tons.

According to reports, the project was originally planned to be constructed in three phases, with Phase 3 designed to produce approximately 110,000 tons of automotive interior plastics, 50,000 tons of automotive exterior plastics, 120,000 tons of reinforced plastics, and 1,100 tons of pilot line facilities annually. However, due to the large scale of construction, Shanghai Jinfa has divided the construction of Phase 3 into three sub-phases, now labeled as Phases 3 to 5. The recently completed project is the revised Phase 3, which mainly includes approximately 29,000 tons/year of automotive exterior plastics, 108,000 tons/year of automotive interior plastics, 123,000 tons/year of reinforced plastics, and about 1,000 tons/year of modified plastic pellets in the pilot workshop.

As of February 2025, the Golden Hair Automotive Materials Project has initially formed a production capacity of 120,000 tons/year for automotive interior plastics, 150,000 tons/year for automotive exterior plastics, 120,000 tons/year for reinforced plastics, and 8,000 tons/year for modified plastic particles in the pilot plant, totaling a modified plastic capacity of 400,000 tons/year.

It is worth mentioning that recently, the global R&D innovation center and industrialization project of Jinfa Technology's automotive materials (C-06 plot) has completed the design scheme for the new scientific and technological innovation center and production workshop.