Ningbo Jinfafa New Materials’ 10.5-billion-yuan project for the production of 1.2 million tons per year of polypropylene thermoplastic elastomer (PTPE) and modified new materials

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Project Information
Project Name: Ningbo Kingfa New Materials Co., Ltd.’s integrated project for producing 1.2 million tons per year of polypropylene thermoplastic elastomers (PTPE) and modified new materials
Construction Entity: Ningbo Kingfa New Materials Co., Ltd. (a wholly-owned subsidiary of Kingfa Sci. & Tech.)
Location: No. 168 Hongyuan Road, Qijiashan Subdistrict, Beilun District, Ningbo City, Zhejiang Province (within the Qingzhi Industrial Park in the Ningbo Economic and Technological Development Zone)
Construction Scope:

Project Overview
Total investment: 10.5 billion yuan
Land area: Approximately 1,500 mu in total
Technical approach: The propane dehydrogenation (PDH) process is employed to produce propylene, which is then used to manufacture polypropylene and modified new materials.

Phase I (already operational)
Operational status: Fully completed and converted into fixed assets; the integrated synthesis and modification plant has been successfully put into operation.
Main facilities:
- A 600,000-ton/year propane dehydrogenation (PDH) unit
- A 400,000-ton/year polypropylene production unit
- A combined 400,000-ton/year polypropylene and modified polypropylene production unit
- A 25,000-ton/year PSA hydrogen purification unit
- A newly constructed cryogenic tank farm along with supporting utility facilities
Industrial chain integration: The industrial chain from “propane → propylene → polypropylene → modified polypropylene” has been fully established.

Phase II (under construction)
Main facilities:
- A 600,000-ton/year propane dehydrogenation (PDH) unit
- A 400,000-ton/year polypropylene production unit
Total production capacity for polypropylene resin: 800,000 tons/year
Capacity utilization rate: Expected to reach 114% in 2025
Commissioning schedule: All facilities are scheduled to be completed and put into operation by the end of 2026.

Capital Increase
Investor: Shanghai Kingfa Sci. & Tech. Development Co., Ltd. (a wholly-owned subsidiary of Kingfa Sci. & Tech.)
Amount of capital increase: 2.487 billion yuan
Post-increase registered capital of Ningbo Kingfa: Increased from 3.431 billion yuan to 5.918 billion yuan
Equity structure: Ningbo Kingfa remains a wholly-owned subsidiary of Kingfa Sci. & Tech.

Supporting Hydrogen Energy Projects
Comprehensive hydrogen energy utilization project (Phase I): Currently under construction; being advanced in cooperation with Zhejiang Energy Group.

Ningbo Kingfa was formerly known as Ningbo Haiyue New Materials Co., Ltd. Established in April 2011, it is recognized as a **high-tech enterprise**, a key project in Zhejiang Province, and a vital enterprise within Ningbo’s “246” trillion-yuan industrial cluster initiative. The company mainly produces polypropylene synthetic resin, modified polypropylene plastics, propylene, hydrogen, and other products.