Recently, GDJF Polymer Materials Technology Group announced that the current 60,000-ton fully biodegradable polyester synthesis project is in full production, and the 60,000-ton PBAT production line under construction is expected to be put into operation in the first half of 2021.
However, the relevant person in charge of GDJF stated that most of the biodegradable plastics produced by GDJF are currently sold to overseas markets, and the domestic market accounts for a relatively low proportion of 20% to 30%.
GDJF is a leading enterprise in China's modified plastics industry. Its main products include modified plastics, fully biodegradable plastics, high-performance carbon fiber and composite materials, special engineering plastics, light hydrocarbons and hydrogen energy, environmentally friendly high-performance recycled plastics, and medical and health products. The seven categories are widely used in industries such as automobiles, household appliances, aerospace, new energy, and communications. The scale of production capacity and technical strength are among the global leaders.
GDJF's semi-annual report shows that in the first half of the year, operating income was 16.93 billion yuan, a year-on-year increase of 37.17%; net profit was 2.412 billion yuan, a year-on-year increase of 373.27%. In the first half of the year, the company achieved sales of 1,174,500 tons of finished products (excluding trade products), a year-on-year increase of 58.48%, of which the original business (excluding light hydrocarbon and hydrogen energy sectors) achieved sales of 713,900 tons of finished products, an increase of 11.55%.
In the first half of this year, the sales volume of GDJF fully biodegradable plastic products was 31,400 tons, a year-on-year increase of 49.28%. The company said that the policy of restricting the use of disposable plastic products has further increased the market demand for degradable plastics and further increased the company's sales.
In the first half of this year, GDJF added new medical and health products, directly contributing up to 1.63 billion yuan in revenue for the company. According to the introduction, this product refers to anti-epidemic masks.
According to the GDJF announcement, as of the end of the second quarter of this year, its mask products had sold a total of 392 million pieces, involving a total of 40 export destination countries, of which 34 were export destination countries with more than 50,000 pieces.
240,000 tons of biodegradable plastic project has been put on record
After years of research and development, GDJF has mastered the key technologies for the synthesis and modification of fully biodegradable polyester, such as the fully biodegradable raw material PBAT, and has formed a mature mass production process package with the ability to quickly scale up. By the end of 2018, it has 60,000 tons of fully biodegradable polyester synthesis capacity and 40,000 tons of fully biodegradable plastic modification capacity.
Currently, GDJF biodegradable polyester synthesis is in full production, and the company's 60,000-ton PBAT production line is expected to be put into operation in the first half of 2021.
At the same time, GDJF recently stated that the 240,000-ton biodegradable plastic project of its subsidiary ZHWT has been filed with the local government. The company will build degradable plastic projects in phases according to product market promotion and changes in degradable plastic policies to increase new production capacity in due course.