Ronglian Recycling Technology has filed for a listing on the GEM of the Hong Kong Stock Exchange.
1min read Ronglian Recycle Technology Limited has filed for listing on the GEM of the Hong Kong Stock Exchange, with China Tech Capital Corporation as its sole sponsor.
Founded in March 2017, the Company is a leading manufacturer of recycled acrylic products in China, focusing on the research and production of recycled acrylic materials. The Company provides customers with recycled MMA and PMMA sheets and is committed to promoting the use of renewable resources to promote the development of the circular economy. According to Frost & Sullivan, as of December 31, 2023, the Company ranked first in China in terms of recycled MMA capacity. The Company has been recognized as a "High-tech Enterprise" since 2020. The Company's research and development projects in the field of acrylic recycling and reuse technology also helped the Company to be identified as the Engineering Technology Research Center of Jiuzhou City and the Provincial Enterprise Technology Center of Jiangxi in June 2023 and December 2023, respectively.
The Company's main advantages lie in its expertise in recycled technology (including seven patented inventions and nineteen utility models) and its ability to recycle waste acrylic products and acrylic scraps into recycled acrylic products. With its technological capabilities, expertise and machinery, the Company provides customized high-quality acrylic products according to customer specifications, establishing its market position. The Company is committed to continuously developing innovative acrylic recycling and reuse technologies and providing high-quality products to meet the growing environmental protection needs while promoting and responding to the growth of the acrylic industry.
According to Frost & Sullivan, the Chinese acrylic recycling and reuse industry market is fragmented. In the fiscal year 2023, the top five market participants accounted for approximately 13.1% of the market share of the Chinese acrylic recycling and reuse industry in terms of recycled MMA capacity.
In the fiscal year 2023, the Company's recycled MMA capacity was 13,776 tons, with an actual output of 9,825 tons, a capacity utilization rate of 71.3%.
In the first nine months of 2024, the Company's recycled MMA capacity was 14,976 tons, with an actual output of 11,575 tons, a capacity utilization rate of 77.3%.
In the fiscal year 2023, the Company's PMMA sheet capacity was 12,054 tons, with an actual output of 8,643 tons, a capacity utilization rate of 71.7%.
In the first nine months of 2024, the Company's PMMA sheet capacity was 8,778 tons, with an actual output of 7,284 tons, a capacity utilization rate of 83.0%.
