In 1993, Yuan Zhimin, the founder and chairman of Kingfa Technology, was one of the first batch of flame retardant materials graduate students at the National Key Laboratory of Flame Retardancy at Beijing Institute of Technology. With a start-up capital of 20,000 yuan, he and his partners Together they founded Kingfa Technology.
Over the past 30 years, Kingfa Technology has now grown into one of the companies in the global new chemical materials industry with a wide range of products. It is also one of the world’s leading modified plastics manufacturers with a wide range of products, with annual sales exceeding 40 billion yuan. scale. On the occasion of its 30th anniversary, looking back on the past, the growth story of Kingfa Technology explains how a private enterprise seizes the opportunities of the times, grows with the times, and ultimately leads the development of the times.
From relying on flame-retardant materials to enter the market, to riding on the development of home appliances and automobile markets to develop polymer materials, and then to providing cost-effective customized overall material solutions for various industries and opening up the upstream and downstream, Kingfa Technology’s business scale and Quality has been steadily improved, driving sustainable growth with innovative technology and green concepts, and leading the industry in multiple technological and product breakthroughs.
Expanding scale: seizing the opportunities of the times, the rise of new material leaders
In the 1990s when Kingfa Technology was founded, my country’s new polymer materials were mainly dependent on imports, with low self-sufficiency rates, high prices, difficulty in delivery, product certification, and substitution.
Kingfa Technology overcomes difficulties, breaks through the core flame-retardant technology, develops leading products of home appliance materials, realizes import substitution, and fills the gaps in domestic production. At its peak, Kingfa Technology’s flame-retardant materials accounted for more than 90% of the domestic color TV industry and more than 40% of joint venture brands.
The fledgling but rapidly developing Kingfa Technology received an “olive branch” from a foreign giant in 1998. Dai Yaoshan, Secretary of the Board of Directors of Kingfa Technology, said: “In the end, Kingfa Technology rejected the acquisition and embarked on a new journey of independent research and development, innovation, and industrial service to the country. At that time, it first proposed the grand vision of ‘creating a world brand and building a century-old Kingfa’.” The subsequent performance of Kingfa Technology has indeed attracted the attention of the industry.
At the beginning of the 21st century, as China entered the WTO (World Trade Organization), cars began to enter Chinese household consumption, and China ushered in an explosive period from vehicle import to vehicle production. Starting from automobile safety, Kingfa Technology develops a series of special materials such as bumpers. It also starts from automobile energy conservation and environmental protection and develops new technologies and new products such as thin-walling, replacing steel with plastic, and spray-free. Kingfa Technology’s polymer materials replace metals, which brings innovative results with significant energy-saving and environmental protection effects. It not only won the second prize of the National Science and Technology Progress Award, but also filled the gap in domestic production. It has surpassed the latecomers, and its sales volume has increased exponentially. .
Seizing the opportunity of the era of rapid development of China’s home appliances and automobiles, Kingfa Technology has gradually embarked on the path from a single flame-retardant material to multi-category development by relying on its scientific research strength and market insights. , conductive, and specially modified new material products to achieve technological breakthroughs and market applications. At the same time, Kingfa Technology also focuses on the research of new technologies in the carbon industry, solves technical problems in key materials, and provides guarantee and support for aerospace, new infrastructure, UHV, new energy and other industries.
At the same time, Kingfa Technology has also expanded overseas. Since 2013, it has established overseas subsidiaries such as Indian Kingfa, American Kingfa, European Kingfa, and Malaysia Kingfa. Regarding the logic of overseas layout, Dai Yaoshan believes: “We not only want to sell globally, but also achieve global production and sales, local supply, and local services, and truly establish bases overseas.” It is understood that the current annual production capacity of Kingfa Technology’s overseas base is 20 million tons. In the first half of 2023, overseas subsidiaries achieved sales of 94,000 tons, a year-on-year increase of 28.42%.
In recent years, Kingfa Technology has gradually extended its reach upstream of the industrial chain, acquiring Liaoning Kingfa and Ningbo Kingfa. “With the expansion of the company’s scale, the quality and cost control of raw material supply have become particularly important. In order to ensure the safety and stability of the company’s supply chain, Kingfa Technology has opened up the upstream in recent years, merged and acquired related companies, achieved integrated production, and strengthened the chain through strengthening the chain. Industrial resilience.” Dai Yaoshan said.
Today, Kingfa Technology has formed four core business sectors with advanced polymer materials as the core, collaborative innovation in the upstream and downstream industrial chains, and integration of production, service and application, namely modified plastics, green petrochemicals, new materials, and medical health. It has become One of the companies with the most comprehensive range of new chemical materials products in the world. In the first three quarters of 2023, the company achieved operating income of 34.3 billion yuan, a year-on-year increase of 16.97%, achieving a new leap forward.
Emphasis on innovation: adhere to independent innovation and consolidate scientific research strength
Behind the outstanding business results of Kingfa Technology, there is strong scientific research strength as support. Kingfa Technology has taken the lead in establishing four national-level scientific and technological innovation platforms in the industry. Among them, the National Advanced Polymer Materials Industry Innovation Center is led by Kingfa Technology to unite upstream and downstream enterprises, universities and scientific research institutes in the industry, as well as related financial investments, intellectual property rights, A high-end innovation platform jointly built by technology intermediaries and other service organizations.
Dai Yaoshan mentioned: “Fafa Technology innovatively took the lead in establishing a national advancedThe Polymer Materials Industry Innovation Center, with Guogao Polymer Materials Industry Innovation Center Co., Ltd. as the main body, conducts technology research and development and transformation. It is established with enterprises as the main body, capital as the link, major tasks as the traction, technology and capital as the deep integration, platform and An efficient operating mechanism with open and shared results, which is responsible for its own profits and losses, makes its operation more market-oriented and flexible, and can better promote joint R&D and innovation of technology. ”
Over the past thirty years, Kingfa Science and Technology has made remarkable achievements in scientific research, winning a total of 3 National Science and Technology Progress Awards, 17 China Patent Excellence Awards, 23
He won the first prize for provincial and ministerial scientific and technological progress, led, participated in, drafted and revised 160 industry, national and international standards, and obtained 5,720 domestic and foreign invention patents and 492 PCT patents.
In addition, Kingfa Technology’s value sharing concept has also attracted and gathered a large number of outstanding talents. Currently, the company has 138 professional and technical personnel above associate senior level and 133 Ph.D.s. Kingfa Technology invests firmly in research and development every year, with R&D expenditures of nearly 1.5 billion yuan in 2022.
With an excellent team and a flexible organizational structure, Kingfa Technology continues to promote product and technological innovation. For example, in the field of automotive materials, Kingfa Technology this year focused on the three-electric system of new energy vehicles and its intelligent innovative solutions, established a joint R&D laboratory with industry leading companies, and participated in the formulation of material usage standards for global leading companies. , developed a variety of high-performance polymer materials that meet the complex electromagnetic environment of new energy vehicles, high voltage safety, bio-based and other high-performance polymer materials, as well as advanced molding and injection molding processes for continuous carbon fiber reinforced composite materials, leading industry innovation.
Sustainability: Aiming at green carbon reduction and using business to interpret ESG
As a leader in new materials, Kingfa Technology takes an active role in fulfilling its social responsibilities of green carbon reduction, practicing ESG concepts, and interpreting high-quality development.
In October 2021, Kingfa Technology, as the first plastics industry company in the country, released a corporate carbon strategy and action plan. The goals include reducing greenhouse gas emissions per unit product of the company by 30% year-on-year by 2030; producing 1 million tons of green plastic in 2030. Recycle 1 million tons of waste plastics and produce 1 million tons of recycled plastics; 2060
Years ago, the company achieved corporate carbon neutrality in accordance with national development requirements.
It is worth noting that the new energy materials, environmentally friendly high-performance recycled plastics, and completely biodegradable plastic products produced by Kingfa Technology themselves can help end customers and society achieve green carbon reduction, and achieve a win-win situation of social and economic benefits.
First of all, in the field of new energy materials, the high-reliability engineering plastic materials developed by Kingfa Technology meet the stringent requirements for long-term outdoor service of photovoltaic products, and have achieved new application breakthroughs in the core component materials of photovoltaic brackets and inverters; The company has developed a cost-effective series of power battery PACK system material solutions, such as battery PACK boxes, battery modules, high and low voltage systems, battery cells, battery upper cover materials, etc., which meet the industry’s special needs such as insulation and voltage resistance. working conditions requirements.
Secondly, in the field of environmentally friendly high-performance recycled plastics, Kingfa Technology has deepened its waste plastic recycling capabilities. The company has perfected the full-chain production technology of waste plastic recycling, pre-treatment, and reuse, and has mastered the recycling and processing capabilities of multiple categories of waste plastics from multiple sources such as cities, oceans, and industries. The recycled plastics produced are widely used in packaging, home appliances, and consumer electronics. In other industries, we have realized the recycling of waste plastics by “making the best use of them”.
Kingfa Technology is also actively working with many of the world’s top 500 companies in packaging, home appliances, automobiles, and consumer electronics to develop strategic cooperation on waste plastic recycling, full life cycle management and low-carbon material comprehensive solutions, and jointly promote the application of recycled materials in the industry. Assist clients in achieving sustainable development goals.
In addition, in the field of completely biodegradable plastics, Kingfa Technology currently has the ability to synthesize 180,000 tons/year PBAT/PBS and 30,000 tons/year PLA resin. The differentiated PLA products developed by the company form a complementary effect with PBAT products to meet the needs of The market demands from all aspects; taking advantage of the traditional advantages of modification, promoting green transformation and upgrading under the “double carbon” goal, and developing biodegradable resin products with different bio-based contents.
It is worth mentioning that Kingfa Technology has begun to proactively deploy bio-based monomer and bio-based material technology research and industrialization construction, and is currently steadily advancing the construction of a bio-based BDO project with an annual output of 10,000 tons.
Currently, Kingfa Technology is moving towards its goal of an output value of 100 billion. The company will continue to adhere to the concept of high-quality and sustainable development, strive to create a first-class R&D, marketing, supply and manufacturing platform, become a high-profile new materials company in the world, and provide guarantee and support for strategic materials.
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