On the evening of February 25, Yihua Group issued an announcement stating that in order to control the further aggravation of "white pollution", "ban on plastics" is becoming a common global environmental protection measure. As a substitute for non-degradable disposable plastics, the degradable materials encouraged by the state have been vigorously promoted and applied, and the degradable materials industry may enter a stage of rapid development. Under the aforementioned background, the company plans to invest in the construction of a new biodegradable material project with an annual capacity of 60,000 tons.
This project is planned to be undertaken by Hubei Yihua Degradable New Material Co., Ltd., a newly established subsidiary of Yihua Group. The company's registered capital is tentatively set at 20 million yuan, and it is planned to be paid in place after the project is approved by the company's shareholders meeting.
The construction content of the project is designed according to 60,000 tons/year, the main product is PBAT resin, and it can also produce other resin products. PBAT, its full name polybutylene adipate/terephthalate, is a thermoplastic biodegradable plastic, mainly used in agricultural mulch, packaging bags, shopping bags and other fields.
In terms of project investment and income, the announcement disclosed that the total investment in the 60,000-ton/year production line is 807 million yuan, the sales revenue is estimated to be 1.496 billion yuan/year, and the total profit is estimated to be 102 million yuan/year; the project construction period is estimated to be 15 months.
At the same time, after the completion of this project, it can improve the company's industrial scale and comprehensive competitiveness in the field of fine chemicals, in line with the company's long-term development plan and development strategy, and will have a positive impact on the company's future financial status and operating results.
