Listed Masterbatch Enterprise Delays Multi-Hundred Million Yuan Project
Masterbatch and January 21st Covestro, a listed company in the field of modified plastics, announced that the completion date for its fundraising projects, "Annual Production of 50,000 Tons of High-Performance Polymer Functional Composite Materials Project" and "R&D Center Construction Project," has been extended to December 31, 2026.
In October 2024, Cobal raised 144 million yuan, with a net amount of 121 million yuan, and the funds were received in the same month.
According to the Masterbatch Industry Network, the new plant for the "Annual Output of 50,000 Tons of High-Molecular Functional Composite Materials Project" has been completed. The layout of production lines, including centralized feeding systems, extrusion units, and auxiliary equipment, is finished. However, the procurement, installation, and commissioning of certain customized equipment are still pending, resulting in the actual investment progress of the project lagging behind the original schedule.
The construction of the main building for the "R&D Center Construction Project" has been completed, and interior decoration work is currently underway. However, the project's actual investment progress is delayed compared to the original plan due to the need to purchase, install, and debug some research and development, and testing equipment.
As of January 15, 2026, the use of the proceeds from the aforementioned share issuance by Koby is as follows:
Kobel stated that the uninvested raised funds will continue to be used for the "50,000 tons per year high-performance polymer functional composite materials project" and the "R&D center construction project," covering expenses such as renovation, equipment procurement, and R&D expenditures. These funds will be invested in phases according to the actual progress of the projects.
Cobell is a core supplier to leading home appliance manufacturers, having achieved import substitution with its core technologies, and is expanding its business into automotive parts. The company listed on the Beijing Stock Exchange in October 2024 and is highly competitive in niche products such as CPP extruded board blister grade PP composites, high weather resistance ABS white masterbatch, and food grade masterbatch.
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