Kingfa Sci & Tech Receives 1.5 Billion Yuan Credit From Guangzhou Rural Commercial Bank To Boost Circular Economy Industry Development
On October 22, during the seminar on financial support for circular economy development and the bank-enterprise financing matchmaking event jointly organized by the Guangzhou Green Finance Association and the Guangzhou Financial Development Service Center, Kingfa Sci & Tech Co., Ltd. and Guangzhou Rural Commercial Bank officially signed a credit agreement of 1.5 billion yuan. This provides strong financial support for the advancement of key circular economy projects and the operation of the enterprise.
This event brought together local governments, financial regulatory authorities, as well as institutions from Hong Kong, Macau, and international organizations to engage in in-depth discussions on the deep integration of the circular economy and finance. According to the agreement, the credit will be specifically used for the construction of the pilot workshop project of Jinfa Technology and to supplement the working capital needed for the daily operations of the company and its subsidiaries, further assisting the company in the continuous advancement of research and industrial application of plastic recycling technology.
Jinfa Technology has streamlined the three key processes of "sorting - cleaning - reuse" in the field of plastic recycling.The project "Integrated Technology and Industrial Application of Upgraded Recycling of Waste Plastics" won the First Prize of the Guangdong Provincial Science and Technology Progress Award, effectively solving the technical bottleneck of resource recycling of plastic waste.Currently, Kingfa Sci & Tech has established collaborations with several well-known brands such as Unilever and Lenovo, widely applying high-performance recycled plastics in fields like packaging, automotive, electronics, and home appliances, thereby constructing a green closed-loop system of "recycling—regeneration—reapplication."In 2024, the company's global sales of high-performance recycled materials reached 285,900 tons, steadily advancing the layout of the European eco-friendly recycled plastic projects and actively promoting China's circular economy technology to the international stage.
The successful cooperation between the bank and the enterprise not only provides solid financial support for the key project construction and technological innovation of Jinfa Technology, but also further highlights the company's role as a model leader in promoting green circular development and practicing sustainable development.
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