Jinggong Technology Announces 669 Million RMB Worth Carbon Fiber Investment Plan
Source:China Composites Expo October 11, 2024
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September 29, Shaoxing -- Zhejiang Jinggong Integrated Technology Co., Ltd, hereafter referred to as Jinggong Technology, announced a 669 million RMB worth investment program.
The investment program will be conducted by its wholly-owned subsidiary Jinggong Carbon Materials, with the self-owned capitals and self-raised funds of the latter.
The program is targeted to set up two high-performance carbon fiber production lines, with an overall capacity of 10,000 tons per year (5,000 tons for each line). Construction period will last for 8 months and facilities will be accordingly put into operation by June, 2025. Upon completion, the program will generate 575 million RMB revenue and 89 million total profit, creating a profit rate of 15.48%. It is assumed in addition that the payback period (after tax) will be 7.66 years (including 2 years for construction).
Jinggong Technology is a leading supplier of high-end integrated equipment, and has been dedicated to carbon fiber industry for decades, being able to provide turnkey solutions in respect of carbon fiber production lines. Its clients range from a variety of application sectors, including automotive, aerospace, wind power, medical service, construction, etc. The company owns more than 50% market share, as it says, regarding carbon fiber production lines.
Jinggong Carbon Materials is newly-acquired subsidiary joining Jinggong Technogy in last April.
Noting that the program will effectively promote the realization of company’s development strategy for carbon fiber industry, and lay a solid foundation for the trinity arrangement of high-performance fiber equipment, carbonization equipment and composite equipment, Jinggong Technology believes that the carry-out of the program will accelerate the industrialization of company’s carbon fiber and composite equipment business, and furtherly enhance the core competitiveness as well as the profitability of the company.
