October 29, 2024 – Ruifeng Advanced Materials Reports Mixed Financial Results for First Three Quarters of 2024
Ruifeng Advanced Materials (SZ 300243) has recently released its financial report for the first three quarters of 2024. The report reveals that the company achieved approximately RMB 1.47 billion in revenue during this period, marking an 11.66% increase compared to the same period last year. However, the company’s net profit attributable to shareholders experienced a decline, totaling RMB 36.57 million, a year-on-year drop of 44.62%. After excluding non-recurring gains and losses, the net profit attributable to shareholders further decreased to RMB 33.123 million, representing a 48.42% decrease from the previous year.
Founded in 1994, Ruifeng Advanced Materials specializes in various fields, including high-performance PVC additives and biodegradable materials. Its products are widely used in the processing and modification of downstream products such as PVC pipes, profiles, floor and wall panels, sheets, films, and foam boards. After nearly three decades of focus and development, Ruifeng has established a leading position in the PVC additives industry. The company boasts nearly 3,000 domestic clients and exports its products to over 60 countries and regions, including Europe, North America, South Asia, Southeast Asia, and East Asia.
According to AsiaMB, PVC additives and engineering plastic additives remain Ruifeng’s core products, with PVC additives accounting for over 90% of the company’s total revenue. Ruifeng’s PVC additive products primarily include ACR processing aids and impact modifiers, MBS impact modifiers, and MC impact modifiers, with a combined production capacity approaching 200,000 tons. In terms of new project development, the company is actively advancing a 60,000-ton-per-year PBAT project, as well as safety and environmental protection technological transformation projects for its MBS old plant, acrylate-based impact modifiers, and ECH workshops, aiming to increase production and efficiency of its main PVC additives.
Notably, Ruifeng has also made significant progress in the field of biodegradable materials. The company’s previously invested 60,000-ton-per-year PBAT project reached its intended usable status at the end of 2023. To better utilize the PBAT project equipment, the company is currently undergoing technological transformations to enable it to also meet the production needs of PETG polyester materials. Additionally, the company’s research and development center has conducted extensive research on PETG products and has successfully completed pilot testing.
Beyond biodegradable materials, Ruifeng is actively expanding its product line in the field of synthetic biomaterials. In March 2023, the company established a wholly-owned subsidiary, Ruifeng Biotech, to further develop products in this area. Currently, Ruifeng Biotech has completed pilot testing for one-step polylactic acid, succinic acid, and dextran products, with dextran products in the preparatory stage for market promotion.
Looking ahead, Ruifeng Advanced Materials will adjust its production based on market demand for various products to maximize resource utilization and meet market needs. At the same time, the company will continue to increase its research and development investment and technological innovation efforts to drive its sustained development in the chemical industry.