Ruifeng High-tech Issued An Annual Report, PBAT Will Be Tested In April And May, And PLA Technology Is Still In The Research And Development Stage

Ruifeng High-tech (SZ 300243) released the 2021 annual performance report on March 30. The operating income in 2021 will be about 1.858 billion yuan, a year-on-year increase of 42.75%; the net profit attributable to shareholders of the listed company is about 92.87 million yuan, an increase of 8.8% year-on-year.

Ruifeng High-tech is mainly engaged in the research and development, production and sales of ACR processing aids, ACR impact modifiers, and MBS impact modifiers. As one of the leading companies in the PVC additive industry, the company currently has a comprehensive production capacity of 180,000 tons, including 70,000 tons of ACR products and 70,000 tons of MBS products (of which 20,000 tons/year will be added at the end of December 2021). ), the production capacity of MC products is 40,000 tons (of which the second phase of the MC impact modifier project with an annual output of 40,000 tons (20,000 tons/year) will reach the state of use in June 2021), and the comprehensive product production capacity ranks in the forefront of the industry.

Ruifeng High-tech stated in its annual report that the biodegradable material business is currently under construction and research projects of the company. As of the disclosure date of this report, large-scale production and sales have not yet been achieved.

PBAT: The company's PBAT project with an annual output of 60,000 tons is currently in the commissioning stage, and it is expected to start the test run in April and May 2022. After completion and production, the company will add 60,000 tons of PBAT product business. PBAT products are greatly affected by factors such as price fluctuations of BDO (butanediol), one of the main raw materials, and policy implementation. In the future, with the continuous improvement of the industry chain, the continuous promotion of national and local plastic ban policies, and the enhancement of people's awareness of environmental protection, it is believed that the industry will develop rapidly.

PLA: PLA products are the company's research business. In the second half of 2019, the company started the technical development of one-step synthesis of PLA, and achieved a successful pilot in 2020. In July 2021, the product achieved a successful pilot test on the company's 100-ton pilot line. The PLA company of the two-step method (ie, the lactide process) is also developing and is currently in the pilot stage. Although the molecular weight and appearance of the company's one-step process PLA are different from those of the two-step process, it has obvious cost advantages. After testing and modified blown film experiments, the relevant performance indicators fully meet the needs of downstream products such as film bags. However, food-contact tableware, cutlery, straws and other fields still need food certification. The company will implement the 10,000-ton scale project in due course, and there may be certain technical uncertainties during the scale-up process.

For the current popular BDO industry chain, Ruifeng High-tech is researching and developing the succinic acid/BDO project.