Lanzhou, China - On June 13, a groundbreaking ceremony was held for the 60,000-ton-per-year continuous basalt fiber and composite materials project of Lanzhou Baolilai New Materials Co., Ltd., a subsidiary of Laibao Tech Group, in Yongden County, Lanzhou City.

Basalt fiber is a nationally recognized strategic green new material and ranks among the world's top four high-performance fibers. It offers exceptional properties including high strength, corrosion resistance, high-temperature tolerance, low carbon footprint, and full recyclability. The material finds extensive applications in infrastructure reinforcement for Northwest China, offshore photovoltaic and wind power systems, chemical piping, rail transit, water conservancy projects, environmentally friendly composites, and aerospace and defense-related applications. As a lightweight, high-performance alternative to traditional fiberglass and steel, basalt fiber demonstrates strong growth potential and broad market prospects.

This project represents a key investment initiative under Laibao tech Group's strategic expansion in the Northwest new-materials sector. The site selection in Yongden leverages the region's abundant basalt mineral reserves, well-established industrial infrastructure, energy supply advantages, and a business-friendly investment environment. The overall project is planned to occupy 400 mu (approximately 26.7 hectares) with a total investment of RMB 2 billion. The first phase, covering 104 mu (approximately 6.9 hectares) and involving an investment of RMB 780 million, is designed to produce 60,000 tons of continuous basalt fiber and 26,000 tons of composite products annually. Upon full completion and operation, the site is expected to emerge as a regional hub for the basalt fiber industry cluster.