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On January 3, 2025, the 300,000-ton project for naturally degradable new materials developed by Shenzhen Youwei Technology Holding Group Co., Ltd. was signed for implementation in the Wangcheng Economic Development Zone of Changsha. Founded in 2010, Shenzhen Youwei Technology Holding Group is a **-level specialized and innovative small giant enterprise that focuses on the original research and development as well as industrial production of key technologies related to new chemical materials. The 300,000-ton capacity project for naturally degradable new materials, covered by this agreement, has a total investment of 2.3 billion yuan. It will be built in two phases, with two 150,000-ton polyglycolic acid (PGA) production lines being constructed; once fully operational, it is expected to generate an annual output value of 10 billion yuan. This is not the first time that Youwei Technology has invested in PGA-related projects; on July 15, 2024, Shenzhen Youwei Technology Holding Group Co., Ltd. signed a strategic cooperation agreement with Jinggangshan Economic Development Zone regarding a production facility for green biodegradable materials such as lactic acid and PGA, with an annual production capacity of 300,000 tons. On December 17, 2024, the production facility project of Jiangxi Youwei New Materials Technology Co., Ltd., designed to produce 300,000 tons per year of lactic acid and PGA green biodegradable materials, was approved for registration; construction is scheduled to begin in June 2025. Jiangxi Youwei was established on December 16, 2024, and is a wholly-owned subsidiary of Shenzhen Youwei. The project is located in the Jinggangshan Economic Development Zone, and it will establish a production facility capable of manufacturing 300,000 tons per year of lactic acid and PGA – green biodegradable materials – as well as a sales platform for electronic chemicals such as photoresist sensitizers. The total investment amounts to about 5 billion yuan, with construction carried out in three phases: Phase 1 requires an investment of 500 million yuan, Phase 2 requires 1.5 billion yuan, and Phase 3 requires 3 billion yuan. Once all three phases are fully operational, it is expected that the annual output value will exceed 12 billion yuan, with annual tax payments reaching over 480 million yuan. It is understood that Jiangxi Youwei has successfully simplified the traditional complex process of 8–10 steps by employing an innovative two-step process technology. It is expected to keep the production cost of PGA below 7,000 yuan per ton, thereby achieving price competitiveness with traditional plastics. This technical approach can also enable the co-production of PGA and PLA, further optimizing the cost structure.