320 million yuan, 50,000 tons! Seiko Technology and Zhejiang Jianxin Jiaren signed a polyester recycling production line contract

December 13,
Seiko Technology announced that in order to accelerate the marketization and industrialization process of the company’s polyester fiber recycling production line in the field of green recycling and intelligent manufacturing, the company plans to sign the “Jianxin New Materials Year” with the related party Zhejiang Jianxin Jiaren New Materials Co., Ltd. Contract for the 50,000-ton main process device JPET50 polyester recycling production line in the first phase of the 150,000-ton green recycled new material project. The total contract price is tentatively estimated at 320 million yuan, and the construction period is 700 days.

This transaction will provide a demonstration for Jinggong Technology to effectively carry out market expansion and subsequent research and development of chemical processes and recycled polyester intelligent integrated production equipment in the field of green recycled new material manufacturing, and will help Jinggong Technology form a new profit growth point.

Zhejiang Jianxin Jiaren New Materials Co., Ltd. has a registered capital of 300 million, and is owned by China Jianxin (Zhejiang) Venture Capital Co., Ltd. (formerly known as “Jingong Holding Group (Shaoxing) Industrial Development Co., Ltd.”)
85%, Zhejiang Jiaren New Materials Co., Ltd. holds 15%.

Zhejiang Jinggong Integrated Technology Co., Ltd. (securities abbreviation: Jinggong Technology, stock code: 002006) is controlled by China Construction Credit (Zhejiang) Venture Capital Co., Ltd.

Jianxin Jiaren was established in 2022 by Seiko Group to promote businesses related to reducing environmental load as it strives to carry out environmental management activities. In addition, Zhejiang Jiaren New Materials Co., Ltd. (hereinafter referred to as “Jiaren New Materials”), which is also a subsidiary of Jinggong Holding Group, has many years of operating experience and related professional knowledge in chemical recycling plants.

Jianxin New Materials Project with an annual output of 150,000 tons of green recycled new materials

It is understood that Jianxin New Materials’ annual output of 150,000 tons of green recycled new materials project is located in the Circular Industrial Park of Keqiao Economic and Technological Development Zone, Ma’an Street, Keqiao District, Shaoxing City. The total newly acquired land is 340 acres. The vacant land will be used to build new workshops, warehouses, and comprehensive facilities. Buildings including buildings, with a total construction area of ​​306,000 square meters, purchased reactors, centrifuges, circulation pumps and other equipment to form an annual output of 150,000 tons of recycled polyester chips (T)
The production capacity of PET and modified engineering resin for refractory materials is 75,000 tons, with an annual joint production of 37,500 tons (T) DMT and 37,500 tons of ethylene glycol. After the project is completed, the annual sales revenue will be 4,250.63 million yuan, the profit will be 1,232.56 million yuan, and the tax revenue will be 317.96 million yuan.

The project is invested and constructed by Zhejiang Jianxin Jiaren New Materials Co., Ltd., a subsidiary of Jinggong Holding Group. Construction has started at the end of 2022. The first phase of 50,000 tons is planned to be completed and put into production in 2024. In the next 5-10 years, it will have an annual output of 300,000 tons – Production scale of 500,000 tons of recycled fiber. Once completed, the project will become the world’s largest chemically recycled polyester enterprise.

Aerial view of the 150,000-ton green recycled new material project plan located in Keqiao Circular Economy Industrial Park, Shaoxing, Zhejiang, China

Adopt unique Green
CircleTM polyester chemical recycling system technology uses discarded waste textiles as the initial raw material. It uses unique chemical decomposition technology to reduce waste polyester materials such as waste textiles and garment factory scraps into small chemical molecules, which are then distilled, filtered, purified and polymerized. and other cutting-edge technologies to create new recycled polyester products with high quality, multi-function, traceability, and sustainable recycling. This technology can not only effectively utilize waste textile resources, reduce dependence on petroleum resources, and reduce waste generation, but can also produce high-end recycled new materials that are widely used in various fields.