GRT Selected in China's Top 10 Innovative Chemical Industry New Materials... Expanding Business Influence

GRT's core growth drivers?MLCC release films, optical BOPET films, and base films for solar power generation?were recently listed among the ‘Top 10 Innovations in Chemical Industry New Materials of 2023’ by China Chemical Industry News, further strengthening the business impact, the company announced on the 30th.

The local government of GRT’s location, the People's Government of Lianyungang City, also officially announced this news externally, providing additional support to the company. According to an official from the Lianyungang Science and Technology Bureau, “The city government will actively increase support for advanced technology enterprises, especially striving to create development opportunities for companies listed in this innovation ranking, and will offer opportunities to enter various business sectors.”

China Chemical Industry News is an authoritative magazine in China, selected as a ‘China Important Periodical Publication’ by the State Press and Publication Administration. The Top 10 Innovations in Chemical Industry New Materials list focuses on cases that have successfully localized key technologies or core materials that were previously impossible to produce domestically in China.

GRT’s MLCC release films, optical BOPET films, and base films for solar power generation are produced at three factories owned by its subsidiary Jiangsu Hezhi New Materials Technology Co., Ltd., where production lines were established in August last year and mass production began. Sales from these three business sectors are expected to reach 200 million yuan (approximately 37 billion KRW), with a gross profit margin anticipated to exceed 30%. Meanwhile, GRT’s fiscal year ends in June, so the 2023 fiscal year refers to the period from July 2023 to June 2024.

As these are core growth sectors for GRT, the company holds numerous major clients. It collaborates with leading Chinese industry players and listed companies such as Sanhuan Group, Sunway, GCL, LONGi, YAGEO, Xinhua Science and Technology, as well as well-known Japanese companies like Murata and TDK.

According to a company representative, “The sectors that have been the main growth drivers for the company are now receiving government recognition and support, which will accelerate business growth,” adding, “We expect to maintain triple-digit growth rates in these core growth drivers and lead the overall performance.”

This content was produced with the assistance of AI translation services.