Facilitating the development of the new material industry, the subsidiary of Kingfa Science and Technology's ABS project increased its capital by 2.9 billion yuan

Recently, Kingfa Technology announced that the registered capital of Liaoning Baolai New Materials Co.

It is reported that the background of the investors includes the Jinshi Manufacturing Transformation and Upgrading New Material Fund invested by the National Manufacturing Transformation and Upgrading Fund, the original shareholder Kingfa Technology, and the management of the project company.

ABS Market Gap, Big Kingfa Technology Expands Production to Seize the Opportunity 

ABS is acrylonitrile, butadiene, styrene copolymer, which has both the toughness and low temperature impact resistance of polybutadiene rubber, the heat resistance and chemical stability of acrylonitrile, and the rigidity and gloss of polystyrene resin.

According to the "Project Feasibility Study Report" prepared by Jilin Design Institute of Northeast Refining and Chemical Engineering Co.

As the main application fields of ABS and the modified plastics of Kingfa Technology's fist business overlap, there are significant upstream and downstream synergies.

In March 2020, the project completed the preliminary procedures for approval, safety assessment, environmental impact assessment, and energy assessment; in June 2020, the project officially started construction, with a planned construction period of 2 years; in October 2020, the long-term equipment procurement will be completed; 2021 In June of this year, the civil construction work of the project was completed and the equipment installation stage was entered

The picture shows the ABS project under construction (the picture comes from Kingfa Technology)

According to the project design plan, the ABS, acrylonitrile, and MMA devices of the Baolai New Materials ABS project adopt domestic advanced technologies such as PetroChina, and the PDH device adopts the American Lummus technology

Heavy battle investment to support the development of new materials is on the line 

Among the investors who participated in the capital increase of Bora New Materials, GoldStone Fund, as the only external investor, has received extensive attention

It is understood that the main investment areas of the National Manufacturing Transformation and Upgrading Fund are growth and mature enterprises in the fields of new materials, new generation information technology, and power equipment

Up to now, the National Manufacturing Transformation and Upgrading Fund has been "shot" many times.