GZJF Polymer Materials Technology Group currently has an annual production line of 71,000 tons of fully biodegradable plastics, and is building two new production lines, leading the way in the field of degradable plastics. Among them, the PBAT and PBSA production line with an annual output of 60,000 tons is expected to be completed in the first half of 2021, and the PLA production line with an annual output of 30,000 tons is expected to be completed in Q4 2021.
The company achieved sales of 863 million yuan in degradable plastics in 2019, an increase of 84.83% year-on-year, sales of 47,500 tons, an increase of 83.83% year-on-year, and a gross profit margin of 38.43%, an increase of 13.17 percentage points over the same period in 2018.
The performance growth of fully biodegradable plastics mainly comes from the continuous increase in demand from European customers (Italy, France, the United Kingdom, Germany, Spain, etc.).