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Recently, Shanghai Orcell Material Technology Co., Ltd. and Tianjin Economic Development Zone officially signed a letter of intent for investment and cooperation to build a PCR (post-consumer recycled material) plastic intelligent fine sorting and high-end granulation digital zero-carbon factory project to create a high-value closed-loop solution "from car to car" and set an international benchmark in the field of circular economy. The proposed project is located in Tianjin Nangang Industrial Zone, with a total investment of 300 million yuan and an annual output of 200,000 tons of PCR plastic. The first phase investment is 100 million yuan, with an annual output of 50,000 tons of PCR plastic. The project will work with world-renowned industry chain partners to promote closed-loop recycling of automotive plastics and help the automotive industry overcome the challenges of carbon tariffs and green trade barriers with localized closed-loop projects. As consumer demand for environmentally friendly products grows, the market demand for recycled plastics will also continue to increase. Chinese market: According to data from Zhongyan Puhua Industrial Research Institute, China's recycled plastics market size has reached 23.555 billion yuan in 2024, a significant increase compared with previous years. global market: According to QYResearch's report, the global post-consumer recycling (PCR) resin market will reach US$49.24 billion by 2029, with a compound annual growth rate (CAGR) of 4.5% in the next few years. Auxer is headquartered in Songjiang, Shanghai, and has multiple renewable resource front-end processing bases across the country. It has long been focused on the research and development, production and sales of high-quality low-carbon PC, ABS, PP, PA, PMMA and other PCR plastic products. The products are mainly used in high-end new energy vehicles, high-end consumer electronics, smart homes, high-end lighting and other fields.