Hengyi Petrochemical Expects H1 Net Profit Surge Over 23-Fold to RMB 5.5–6 Billion; 16 Global Giants Invest €3.2 Million to Advance Flexible Plastic Recycling ... | Daily Brief

Author: yue

Published on: 2026-06-30 08:56

Category: Corporate News Industry News Exhibition News

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On June 29, the index of the biodegradable plastics sector fell by 2%, and Sinochem International tumbled more than 7%. On the same day, Hengyi Petrochemical forecast its first-half net profit to reach RMB 5.5–6 billion, representing a year-on-year surge of over 23 times, and it is pushing forward a chemical recycling project for waste textiles. Hubei Luzi Plastic Industry completed the filing for a RMB 50 million recycled pellet project with an annual output of 8,000 tons.

Globally, 16 enterprises launched the InFACT project to develop circular technologies for food-grade flexible plastics. GreenDot acquired Spain’s Anviplas, expanding its European polyolefin recycling capacity to 175,000 tons. The industry is undergoing market reshuffling alongside capacity expansion.

2026/6/16

Domestic Highlights

On June 29, the biodegradable plastics sector slumped by 2%.

At 09:52 on June 29, the biodegradable plastics sector index stood at 1971.267, down 2%, with trading volume reaching RMB 7.717 billion and a turnover rate of 0.86%. The top five stocks with the largest declines in the sector were as follows:

Sinochem International: RMB 8.29, down 7.06%
Jinsheng New Materials: RMB 21.21, down 6.61%
Huaxin New Materials: RMB 20.63, down 6.23%
Huafon Chemical: RMB 9.84, down 5.57%
Xinjiang Tianye: RMB 3.93, down 5.30%

Hengyi Petrochemical Expects H1 Net Profit to Surge Over 23-Fold to RMB 5.5–6 Billion, Hit Record High for Same Period Since Listing

On June 25, Hengyi Petrochemical released its 2026 half-year performance forecast. The company estimated its net profit attributable to parent company for the first half to range from RMB 5.5 billion to 6 billion, representing a year-on-year jump of 2326%–2547%. Meanwhile, it is advancing a fully automated sorting line with an annual capacity of 300,000 tons for waste textiles and an industrial demonstration project of circular new materials, which produces high-performance polyester using waste textiles as raw materials. Hengyi’s explosive profit growth has boosted strong confidence across the waste textile chemical recycling sector.

Hubei Luzi Plastic’s 8,000 Tons/Year Recycled Plastic Pellet Project Gets Filing Approval

On June 24, Hubei Luzi Plastic Industry Co., Ltd. officially completed the approval and filing procedures for its recycled plastic pellet project with an annual output of 8,000 tons. The project has been designated as a key upgrading project for the renewable resources industry of Maiwang Town, Hanchuan City, Xiaogan, Hubei Province in 2026.

The project is located in Taozha Village, Maiwang Town, with a total investment of RMB 50 million fully self-funded by the company. It covers a planned land area of 10 mu and will construct a 5,000-square-meter standardized workshop together with supporting warehouses.Four new production lines will be installed, fitted with special pelletizing equipment for PP Model 180 and PE Model 200. A full range of environmental protection facilities including wastewater treatment, material sorting, washing and dewatering, as well as waste gas collection systems will be purchased simultaneously.The facility adopts a standardized closed-loop production process: sorting → wet crushing → scrubbing and purification → dewatering and melting → extrusion and pelletizing → finished product packaging, to guarantee compliant treatment and recycling of wastewater, waste gas and solid waste.

Construction work of the project is scheduled to kick off in June 2026 with an 8–10 month construction period, and completion and commissioning are expected in Q1 2027.Once fully operational, the plant will produce 8,000 tons of recycled PP and PE pellets annually. It will effectively fill gaps in the local recycled plastic processing sector and fuel high-quality development of the regional circular economy.

2026/6/16

International Highlights

16 Global Giants Jointly Launch InFACT Project with €3.2 Million Budget to Advance Flexible Plastic Circularity

In June 2026, the InFACT project was officially launched under the coordination of the Danish Technological Institute (DTI), with participation from 16 leading international enterprises and organizations including Nestlé, TotalEnergies and Interzero. Short for Infrastructure for the Circular Transition of Flexible Plastic Packaging, the project aims to build a full set of circular infrastructure that converts household flexible plastic waste into brand-new food-grade packaging materials.

The total budget of the InFACT project stands at €3.2 million, funded by Denmark’s Innovation Fund via the TRACE programme, with a project duration spanning 2026 to 2028. Its core objective is to demonstrate that flexible plastic packaging can achieve a closed circular loop “from bin back to supermarket shelves”.

GreenDot Acquires Spanish LDPE Recycler Anviplas, Boosting European Polyolefin Recycling Capacity to 175,000 Tonnes Per Annum

On June 24, 2026, Germany’s GreenDot Group announced the acquisition of Spanish LDPE recycling firm Anviplas Spain. This marks another major strategic layout for GreenDot in Southern Europe, following its acquisition in Italy in 2025 and the integration of France’s RG Group in March 2026.

Founded in 1988, Anviplas Spain is headquartered in Navarcles, Catalonia. It specializes in the recycling and processing of post-commercial and post-industrial LDPE films, with an annual recycling capacity of 30,000 tons and around 70 employees. The acquisition was completed for a nominal cash consideration. Prior to the deal, Anviplas had undergone pre-bankruptcy administrative proceedings. The company is projected to generate €25 million in revenue in 2026 and holds tangible fixed assets worth approximately €20 million.

After the acquisition, GreenDot now operates six mechanical polyolefin recycling plants across Europe, located in Hörstel and Eisfeld (Germany), Piacenza (Italy), Tence and Saint-Pal-de-Mons (France), as well as Navarcles (Spain). Its total annual recycling capacity has risen to roughly 175,000 tons, covering three major polyolefin grades: LDPE, HDPE and PP. Less than a year ago when Agilyx first became a shareholder of GreenDot, the group’s mechanical recycling capacity stood at merely around 70,000 tons per annum.

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This article is sourced from the WeChat Official Account: Waste Plastics New Insight

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