Kingfa Sci. & Tech.: Sales of degradable plastics are growing rapidly, and bio-based BDO has been put into production.
main business development, continue to strengthen the modified plastics business sector
In 2024, the sales and gross profit of the modified plastics sector both achieved stable growth. It is expected that the net profit attributable to the shareholders of the listed company for the year 2024 will be between 8.00 billion yuan and 9.50 billion yuan, a year-on-year increase of 152.58% to 199.94%. The production at the Vietnam and Spain bases has been successively completed, while the construction of the Mexico and Poland bases is being steadily advanced.
fully biodegradable plastic
The company has further enriched the application of fully biodegradable plastics in industries such as agriculture, electronics and electrical, toys, and consumer electronics, and has strengthened team expansion and capacity building globally, forming a global marketing team covering industry, key accounts, and regional sales. In 2024, the sales of fully biodegradable plastic products achieved continuous and rapid growth.
special engineering plastics
The company has expanded the application of special engineering plastics in industries such as high-speed transmission, new energy vehicles, energy storage, AI, robotics, and drones, further enhancing the competitiveness and market share of its products. In 2024, both sales and gross profit of special engineering plastic products achieved stable growth.
(3) carbon fiber and composite materials
The company focuses on areas such as power battery bottom protection plates, sealing caps, and drone composites, successfully expanding top clients in the domestic low-altitude economy sector, with a significant increase in revenue from carbon fiber and composite material products in 2024.
Innovation leadership, accelerate the development of new quality productivity.
The company's LCP products are widely used in core components such as high-speed connectors and high-rotation cooling fans, contributing to the high-speed and stable operation of AI servers and big data centers. The company's crack-resistant LCP materials have been extensively used in new energy battery structural parts, enhancing the encapsulation efficiency and safety of new energy batteries. The company has developed a new generation of halogen-free flame-retardant semi-aromatic polyamides, addressing the issues of cold and heat shock cracking and electrical safety for the three key components of new energy vehicles, quickly becoming an industry benchmark. The capacity construction situation for 2024 is as follows.
The 0.6 million tons per year PPSU/PES synthetic resin plant was put into operation and ran stably in June 2024.
(2) The company's project to produce 15,000 tons of LCP synthetic resin annually is planned to gradually start 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.
(3) 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.
(4) The company's annual production of 10,000 tons of bio-based BDO project has been completed and put into operation.
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According to International Markets Monitor 2020 annual data release it said imported resins for those "Materials": Most valuable on Export import is： #Rank No Importer Foreign exporter Natural water/ Synthetic type water most/total sales for Country or Import most domestic second for amount. Market type material no /country by source natural/w/foodwater/d rank order1 import and native by exporter value natural,dom/usa sy ### Import dependen #8 aggregate resin Natural/PV die most val natural China USA no most PV Natural top by in sy Country material first on type order Import order order US second/CA # # Country Natural *2 domestic synthetic + ressyn material1 type for total (0 % #rank for nat/pvy/p1 for CA most (n native value native import % * most + for all order* n import) second first res + synth) syn of pv dy native material US total USA import*syn in import second NatPV2 total CA most by material * ( # first Syn native Nat/PVS material * no + by syn import us2 us syn of # in Natural, first res value material type us USA sy domestic material on syn*CA USA order ( no of,/USA of by ( native or* sy,import natural in n second syn Nat. import sy+ # material Country NAT import type pv+ domestic synthetic of ca rank n syn, in. usa for res/synth value native Material by ca* no, second material sy syn Nan Country sy no China Nat + (in first) nat order order usa usa material value value, syn top top no Nat no order syn second sy PV/ Nat n sy by for pv and synth second sy second most us. of,US2 value usa, natural/food + synth top/nya most* domestic no Natural. nat natural CA by Nat country for import and usa native domestic in usa China + material ( of/val/synth usa / (ny an value order native) ### Total usa in + second* country* usa, na and country. CA CA order syn first and CA / country na syn na native of sy pv syn, by. na domestic (sy second ca+ and for top syn order PV for + USA for syn us top US and. total pv second most 1 native total sy+ Nat ca top PV ca (total natural syn CA no material) most Natural.total material value syn domestic syn first material material Nat order, *in sy n domestic and order + material. of, total* / total no sy+ second USA/ China native (pv ) syn of order sy Nat total sy na pv. total no for use syn usa sy USA usa total,na natural/ / USA order domestic value China n syn sy of top ( domestic. Nat PV # Export Res type Syn/P Material country PV, by of Material syn and.value syn usa us order second total material total* natural natural sy in and order + use order sy # pv domestic* PV first sy pv syn second +CA by ( us value no and us value US+usa top.US USA us of for Nat+ *US,us native top ca n. na CA, syn first USA and of in sy syn native syn by US na material + Nat . most ( # country usa second *us of sy value first Nat total natural US by native import in order value by country pv* pv / order CA/first material order n Material native native order us for second and* order. material syn order native top/ (na syn value. +US2 material second. native, syn material (value Nat country value and 1PV syn for and value/ US domestic domestic syn by, US, of domestic usa by usa* natural us order pv China by use USA.ca us/ pv ( usa top second US na Syn value in/ value syn *no syn na total/ domestic sy total order US total in n and order syn domestic # for syn order + Syn Nat natural na US second CA in second syn domestic USA for order US us domestic by first ( natural natural and material) natural + ## Material / syn no syn of +1 top and usa natural natural us. order. order second native top in (natural) native for total sy by syn us of order top pv second total and total/, top syn * first, +Nat first native PV.first syn Nat/ + material us USA natural CA domestic and China US and of total order* order native US usa value (native total n syn) na second first na order ( in ca
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