Jinfa Technology, bio-based BDO, new developments!
On March 20, Jinfat Technology Co., Ltd. released the evaluation report for the 2024 "Quality Improvement, Efficiency Enhancement, and Return to Shareholders" action plan.
The report shows that in 2024, the company strengthened scientific and technological innovation around new productive forces, reinforced the advantages of an integrated industrial chain, and relied on globally leading application innovation capabilities to provide more competitive overall material solutions for global customers. This has continuously increased the company's industry competitiveness and market share. The company expects to achieve a net profit attributable to shareholders of listed companies in the range of 800 million yuan to 950 million yuan in 2024, representing a year-on-year increase of 152.58% to 199.94%.
Among them, in the new materials sector, Kingfa's 2025 strategy is: comprehensive breakthrough, expand share.
(1) Fully biodegradable plastics: Product applications have further expanded to various industries such as agriculture, electronics, toys, and consumer electronics. The company has expanded its team globally and strengthened capacity building, forming a global marketing team that covers industry, major clients, and regional sales, effectively promoting the sustained rapid growth of product sales and continuously increasing its influence in the environmental materials market.
(2) Specialty engineering plastics: Widely used in industries such as high-speed transmission, new energy vehicles, energy storage, AI, robotics, and drones, both product competitiveness and market share have increased. In 2024, product sales and gross profit are expected to achieve stable growth, becoming one of the important drivers of the company's performance growth.
(3) Carbon Fiber and Composites: Focusing on areas such as battery bottom protectors, sealing covers, and drone composite materials, significant progress has been made in opening up leading clients in the domestic low-altitude economy sector. As a result, the revenue from carbon fiber and composite products is expected to increase significantly in 2024.
Accelerate the implementation of production capacity construction projects and optimize their layout.
The 0.6 million tons per year PPSU/PES synthetic resin plant successfully commenced production and stabilized operations in June 2024, adding new momentum for the company in the high-performance resin field.
(2) The annual production capacity of 15,000 tons LCP synthesis resin project is scheduled to gradually go into production in the second quarter of 2025, with construction work progressing as planned. The LCP film heat treatment equipment has already been put into production, and related products have achieved bulk sales in acoustic diaphragms, thus opening up new market application fields for the company.
(3) The 10,000-ton-per-year bio-based BDO project has been completed and put into production, and high-crystallinity bio-based PBAT, PBT, PBST, and other products have been developed. This aligns with the "Carbon Peak and Carbon Neutrality" concept, enhances product competitiveness, and strengthens the company's industrial chain layout in the bio-based materials sector.
Digital Transformation Project: Innovative Models, Empowering Development
The company uses the deep integration of "digital technology + manufacturing scenarios" as a strategic fulcrum to explore the path of digital transformation for traditional modified factories, adopting a large-scale flexible production model. It constructs a digital transformation ecosystem driven by the dual wheels of a "benchmark factory and traditional base," effectively solving the难题of flexible transformation in traditional manufacturing.
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