Zhongbao New Materials Group

What Zhongbao New Materials Group does

Zhongbao New Materials Group (中宝新材集团有限公司) is a Hong Kong-listed (2439.HK, IPO March 2023) Chinese manufacturer of single-use biodegradable plastic products and, as a secondary line, non-biodegradable automotive plastic components. Its principal operating subsidiary, Jilin Kaishun New Materials Co., Ltd. (吉林省开顺新材料有限公司), was founded in March 2014 in Changchun, Jilin Province, with two plants on a 31,467 sqm site — a 19,055 sqm biodegradable production line and a 12,412 sqm non-biodegradable automotive parts line. Annual production capacity stood at 6,440 tons with 96% line utilization (2021 data), and the company reports nearly 10,000 tons of bio-based degradable materials sold annually.

The company's core technology rests on PBAT/PLA/PPC polymer systems and includes proprietary high-speed blown film equipment, specialized injection mold tooling for degradable materials, automated burr cutting, multifunctional cooling devices, and automated plastic parts punching. The product portfolio spans biodegradable masterbatches (used as raw material additives), biodegradable shopping bags, produce bag rolls, and stretch wraps, alongside non-biodegradable automotive components such as tail lamp covers, spoilers, water baffles, and fenders. The group holds 2 invention patents and 29 utility model patents, is certified to IATF16949, ISO9001, and ISO14001, and has run a strategic R&D partnership with the Chinese Academy of Sciences Changchun Institute of Applied Chemistry (CIAC) since 2018. The group contributed to national standard GB/T 38082-2019 for biodegradable plastic shopping bags.

The business model is sales-led B2B direct sales to supermarket and retail chains (RT-Mart/大润发, Beijing Hualian/北京华联, chain supermarkets, department stores) and automotive parts manufacturers, with over 90% of group revenue from repeat customers and a marketing network radiating nationally from Northeast China. Pricing is not publicly disclosed. Revenue is generated through one-time product sales of manufactured goods — biodegradable plastic products are the primary revenue driver while automotive plastic parts form a secondary stream.

Name

Zhongbao New Materials Group

Legal name

中宝新材集团有限公司

Website

https://jl-ks.cn

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

101–250 employees

Short description

Zhongbao New Materials Group is a Hong Kong-listed Chinese manufacturer of single-use biodegradable plastic products (PBAT/PLA/PPC-based shopping bags, produce rolls, stretch wraps, masterbatches) and non-biodegradable automotive plastic parts, serving supermarket chains and auto parts manufacturers primarily in China.

Ownership category

akta.pro rank

Product category

Biodegradable Plastics Manufacturing

NAICS

Plastics Material and Resin Manufacturing (325211), Resin and Synthetic Rubber Manufacturing (32521), Plastics Bag and Pouch Manufacturing (326111), Plastics Packaging Film and Sheet (including Laminated) Manufacturing (326112)

SIC

Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820), Unsupported Plastics Film & Sheet (3081), Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821)

akta.pro primary industry

Biodegradable Polymers & Resins (PLA, PHA, PBS, PBAT) (IMAEAOAA)

akta.pro secondary industries

Compostable & Bio-Based Packaging (PLA/PHA, Starch Blends, Cellulose Films) (IMALAMAB), Compostable & Bio-based Flexible Films and Sheet (extrusion/cast/blown) (IMANANAC), Biodegradable Packaging Materials (films, trays, foams) (IMAEAOAB)

Keywords

• Biodegradable plastics
• Plastic film products
• Automotive plastic parts
• Polymer manufacturing
• Biodegradable packaging

Headquarters

HQ city

Changchun

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Biodegradable plastic products manufacturing and sales: Production and sales of biodegradable plastic products including shopping bags, produce bag rolls, stretch wraps, and masterbatches. This is the primary revenue driver for the group.
2. Non-biodegradable automobile plastic parts manufacturing and sales: Production and sales of non-biodegradable automotive plastic components including tail light covers, spoilers, water baffles, and other injection-molded parts. This is a secondary revenue stream.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Zhongbao New Materials Group manufactures and sells single-use biodegradable plastic products (biodegradable shopping bags, produce bag rolls, stretch wraps, and biodegradable masterbatches) built on proprietary PBAT/PLA/PPC polymer systems. It also produces and sells non-biodegradable injection-molded automotive plastic components (tail lamp covers, spoilers, storage boxes, water barrier assemblies, speaker masks, fenders, C-pillar lower guards, and brackets) for automotive OEMs and parts suppliers. Both product lines are produced at facilities in Changchun, Jilin Province.

Product overview

Zhongbao New Materials Group operates as a manufacturer of biodegradable plastic products and non-biodegradable automobile plastic parts. The product portfolio consists of three main product lines: Biodegradable Products (生物降解产品) covering shopping bags, produce bag rolls, and stretch wraps; Biodegradable Masterbatches (生物降解母粒) serving as raw material additives; and Non-biodegradable Automobile Plastic Parts (不可生物降解汽车塑料零部件) including tail lamp covers, spoilers, storage boxes, water barrier assemblies, speaker masks, fenders, and C-pillar lower guards. The company also co-developed the national standard GB/T 38082-2019 for biodegradable plastic shopping bags. Production facilities include a 19,055 sqm biodegradable plastic product plant and a 12,412 sqm non-biodegradable plastic products plant located in Changchun, Jilin Province.

Differentiator

Problem solved

Functional benefit

Products and services

• Biodegradable Shopping Bags Disposable biodegradable shopping bags made from biodegradable plastic materials (PBAT/PLA/PPC-based), compliant with the GB/T 38082-2019 national standard for biodegradable plastic shopping bags, sold to supermarket chains, chain stores and department stores in China.
• Biodegradable Produce Bag Rolls Roll-form biodegradable bags for produce packaging, designed for single-use applications at supermarket produce counters and other retail environments.
• Biodegradable Stretch Wraps Biodegradable stretch wrap film used in packaging and logistics applications as a sustainable alternative to conventional plastic stretch film.
• Biodegradable Masterbatches Biodegradable masterbatches used as raw material additives in the production of biodegradable plastic products, leveraging proprietary PBAT/PLA/PPC polymer formulations.
• Non-biodegradable Automobile Plastic Parts IATF16949-certified injection-molded automotive plastic components including tail lamp covers, spoilers, storage boxes, water barrier assemblies, speaker masks, fenders, C-pillar lower guards and water barrier brackets, produced for automotive OEMs and parts suppliers.

Quantifiable outcome

• Annual production capacity of 6,440 tons with 96% production line utilization rate (2021 data)
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

One partnership is on record.

• Chinese Academy of Sciences, Changchun Institute of Applied Chemistry (CIAC) (中国科学院长春应用化学研究所)coreStrategic or Co-development Partner · 1 January 2018Since 2018, the group has been collaborating with CIAC to develop and manufacture new technologies for biodegradable plastic products. CIAC is a multidisciplinary chemistry institute founded in 1948 with 895 employees, including 490 scientists and 140 full professors. The partnership focuses on PBAT/PLA/PPC polymer materials, blown film resin and bag products, and injection molding resin technologies. Completed projects include high-speed film blowing machines and injection mold tools for degradable materials. Ongoing projects include low-cost PBAT/PLA/starch membrane industrialization technology and PBAT/PLA/PPC agricultural mulch resin development.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• BASF: Global chemical major producing Ecovio PBAT/PLA compounds and finished bag prototypes. While serving a far broader resin and chemicals portfolio, BASF competes with Zhongbao for premium biodegradable bag business from large international retail and CPG accounts.
• NatureWorks: Global PLA resin leader (Ingeo) supplying bioplastic feedstock across packaging, food serviceware, and 3D printing. Competes indirectly with Zhongbao as the dominant PLA supplier whose resin flows into much of the same Chinese converter ecosystem.
• Novamont: Italy-headquartered producer of Mater-Bi starch-based biodegradable resins used in shopping bags, fruit bags, and stretch film. Competes with Zhongbao in the European and increasingly global supply chain for compostable retail bags.

Direct peers

• Anhui Huakai Biotechnology: Anhui-based Chinese manufacturer of PBAT/PBS biodegradable resins and downstream film products. Competes with Zhongbao for downstream converted-product customers in China and adjacent resin supply into the same converter ecosystem.
• Kingfa Sci & Tech: One of China's largest integrated PBAT and modified plastics producers. Kingfa's bioplastics and modified plastics business directly competes with Zhongbao in PBAT-based film and finished bag production for the same Chinese retail and packaging customers.
• Shenzhen Ecomann Biotechnology: Shenzhen-based PBAT/CaCO3 compound and finished bag manufacturer serving Chinese retail and e-commerce packaging customers. Direct overlap with Zhongbao in biodegradable shopping bag and produce bag roll markets.

Emerging players

• TotalEnergies Corbion: PLA joint venture between TotalEnergies and Corbion operating a 75,000-ton Thai PLA plant. Supplies PLA feedstock into the same converter ecosystem that Zhongbao serves, including Asian finished-product bag manufacturers.
• Danimer Scientific: US-based PHA biopolymer producer (Nodax) for flexible films, straws, and bags. Competes with Zhongbao in single-use biodegradable film applications and is a potential partner/acquirer for next-generation resin technology.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zhongbao New Materials Group