BoReTech's On-Hand Equipment Orders Reach NT$1.937 Billion; India Subsidiary Established to Seize Local Market

Additionally, BoReTech has made a breakthrough in its tray recycling and cleaning technology, overcoming bottlenecks in the process. The company aims to commercialize this technology by establishing its own cleaning lines. The tray recycling and cleaning plant invested in and set up in Pinghu, Zhejiang, is expected to begin mass production in November, with a planned capacity of 20,000 tons. Since the profit margin for recycled tray raw materials is higher than for recycled PET bottles, the mass production is also expected to provide a strong growth momentum for BoReTech in 2026.

BoReTech established its subsidiary in India last month (August), capitalizing on the fact that the Indian recycled plastics market is projected to reach US$5.277 billion by 2028, with a compound annual growth rate of 5.6%. The establishment of the Indian company is aimed at addressing the growth and development of India's recycled plastics industry. BoReTech is also deepening its roots in India to enable local production, improve service responsiveness and quality, build a local supply chain, and respond to changes in the global landscape and market challenges.

BoReTech stated that India's current annual PET recycling capacity is 400,000 tons, with plans to increase it to 750,000 tons by 2027 and expand it to 1-1.2 million tons annually by 2030.

BoReTech specializes in providing comprehensive plastic recycling and cleaning solutions, as well as the research and production of recycled fibers and recycled polyester raw materials. Its business is divided into two main segments: "Equipment Engineering Services" and "Production Business." The products include environmental equipment engineering, polyester fibers, and recycled polyester pellets. The revenue split between Equipment Engineering Services and Production Business is approximately 40% to 60%, with this stable dual-engine model successfully driving the company's operational growth.

In the Equipment Engineering Services segment, BoReTech currently holds on-hand orders totaling RMB 450 million (NT$1.937 billion). The volume of these orders is progressing, and while some equipment projects were delayed in shipment during the first half of this year, revenue from this segment is expected to grow.

BoReTech’s advantage in equipment engineering lies in its vertical integration, which covers every step of the recycling industry chain and provides a one-stop solution from design to equipment installation. Such comprehensive vertical integration is still rare in the industry. The company possesses a complete technical chain with mature experience in both process and equipment technology, and it exports this technology to international markets, acting as a bridge between equipment users and providers to help clients enhance productivity and quality.

Furthermore, BoReTech's latest products show that Equipment Engineering has the highest profitability, reaching a gross margin of 35-40%, followed by chemical fibers at 15-17%, and recycled polyester raw materials at 5-10% in the first half of this year. However, a BoReTech executive believes that the price of recycled polyester raw materials hit an all-time low in the second quarter of this year, and there is still room for future price increases.

BoReTech has successfully deployed over 265 PET bottle recycling and cleaning lines and end-application production lines in more than 40 countries and regions worldwide, offering a one-stop solution for food-grade recycled PET (rPET) applications and assisting in the upgrading and transformation of the plastic recycling industry.