Kingpont New Materials Won Hundreds Of Millions Of Rmb In Round B Financing And Planned More High-end Pet Film Production Lines

Mar 22, 2023

Recently, Ningbo KingPont New Material Technology Co., Ltd. (hereinafter referred to as KingPont New Material) completed a round B financing of hundreds of millions of RMB, led by three banks of capital, with the participation of many industrial capital and investment institutions such as Xiaomi industrial investment, CITIC Capital, Fosun insurance, KingPont master fund, Tongcheng New Material and Yanchuang capital.

KingPont New Materials, founded in 2014, is a high-tech enterprise of new functional film materials, focusing on the R & D, production and sales of solar backplane base film, optical base film and high value-added special functional film products.

According to Triniti Capital news, KingPont New Material's first biaxial tensile PET film production line was officially put into operation in April 2015, the second production line was officially put into operation in the second quarter of 2018, the third production line will be put into operation in the near future, and more high-end PET film production lines have been included in the plan.
Wang Wenchuan, capital investment director of Triniti, said: "Optical PET film is the representative of high-performance film materials, the high-end application extension of PET film in Pan semiconductor, especially in the field of semiconductor display, and an important link in the localization of Pan semiconductor industry chain. The team of KingPont new materials has broken through the technical monopoly of some medium and high-end products by Japanese giants such as Toray and Toyo textile for decades, and has been recognized by global leading customers. However, we are optimistic that the company will continue to launch new product applications in the future with continuous R & D and lean management. "
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