On July 1, SDRF Polymer Materials Technology Group released the "Feasibility Analysis Report on the Use of Funds Raised by Issuing A-Share Convertible Corporate Bonds to Unspecified Objects." The issuance of convertible bonds (hereinafter referred to as "convertible bonds") to unspecified objects shall not exceed 340,205,300 yuan (including 340,205,300 yuan) in total funds to be raised (including issuance expenses). After deducting the issuance expenses, the company raised all funds through this issuance will be used for the annual output of 60,000 tons of biodegradable polymer materials PBAT project and supplementary working capital.
On the evening of March 16, Ruifeng High Materials announced that the company plans to invest no more than 320 million yuan to build a 60,000-ton PBAT biodegradable plastic project in the company’s existing plant area, with a promising future for biodegradable plastics. market. The construction period of the project is 15 months, and it is expected to be completed and put into production before June 30, 2021. After the project is fully operational and effective, it is expected to realize annual operating income of 1.2 billion yuan and profits and taxes of 250 million yuan.
The PBAT project with an annual output of 60,000 tons of biodegradable polymer materials covers an area of 35 acres. The planned construction period is 1.5 years. After the completion of the construction, the production capacity will be released year by year. It is expected that it will enter full production in the third year.
This is also the basis of Ruifeng High Material's increasing market demand for biodegradable plastics at home and abroad, combined with the excellent thermal stability and mechanical properties of PBAT and the broad market application prospects in the fields of packaging, tableware, disposable medical supplies, mulch, etc. PBAT biodegradable plastic production line to be invested in. After the project is completed, it will form an annual production capacity of 60,000 tons of PBAT.