On March 20, Kingfa Sci. & Tech. Co., Ltd. released the 2024 annual "Quality Improvement, Efficiency Enhancement, and Emphasis on Returns" action plan evaluation report.

The report shows,

In 2024, the company strengthened scientific and technological innovation around new types of productivity, reinforced the advantages of an integrated industrial chain, and relied on globally leading application innovation capabilities to provide more competitive overall solutions for new materials to global customers. The company's industry competitiveness and market share continued to increase. The company expects to achieve a net profit attributable to shareholders of listed companies of 8.00 billion yuan to 9.50 billion yuan in 2024, representing a year-on-year growth of 152.58% to 199.94%.

The company further enriched the application of fully biodegradable plastics in industries such as agriculture, electronics and electrical engineering, toys, and consumer electronics, and globally strengthened team expansion and capacity building, forming a global marketing team covering industries, key accounts, and regional sales. In 2024, the sales volume of fully biodegradable plastic products achieved continuous and rapid growth.

The company's annual production of 0.6 million tons of PPSU/PES synthetic resin facility was put into operation and running stably in June 2024. The company's project for the annual production of 1.5 million tons of LCP synthetic resin is planned to be gradually put into production in the second quarter of 2025. The company's LCP film heat treatment equipment has been built and put into operation, and related products have achieved mass sales in acoustic diaphragms.

The company has developed high crystallinity bio-based PBAT, PBT, PBST, and other products, aligning with the development concept of "carbon peak and carbon neutrality," significantly enhancing product competitiveness. Meanwhile, the company's annual 10,000-ton bio-based BDO project has been completed and put into production.