Kingfa Technology sold 26,700 tons of degradable plastics in Q1, and an additional 60,000 tons of PBAT is expected to break out in the second quarter

On the evening of April 27, Kingfa Technology (600143) released the company's first quarter report for 2021.

Performance logic in the first quarter: modification and degradation under adversity

Looking at the first quarterly report of Kingfa Science and Technology from an objective point of view, it is both unexpected and reasonable

According to the company's first-quarter operating data announcement, in the first quarter of 2021, Kingfa Technology achieved an output of 448,000 tons of modified plastic products (mainly original modified plastic + environmentally friendly high-performance recycled plastic), and a sales volume of 419,000 tons, a year-on-year increase of 63.

In the first quarter of 2021, the company's new material sector products achieved an output of 41,200 tons, a sales volume of 31,900 tons, and an operating income of 715 million yuan

Looking at the second quarter of performance growth

In fact, with the commissioning of 60,000 tons of new PBAT production capacity of fully biodegradable plastics in the first quarter, the commissioning of the first set of glove production lines, and the stabilization of raw material prices, Kingfa Technology is really worthy of attention in the second quarter.

According to the company's first quarterly report, as of March 31, 2021, the newly added PBAT plant with an annual output of 60,000 tons has been put into operation, and the plant is operating in good condition.

In addition, the 40 billion glove production and construction project that the market is concerned about has also made significant progress in the first quarter.