Zhejiang Jingxing Paper Co., Ltd. Says Malaysia Phase I Project Surpasses RMB 1 Billion in Annual Revenue

Zhejiang Jingxing Paper Co., Ltd. said its Phase I project in Malaysia generated more than RMB 1 billion in operating revenue during 2025, while construction of the Phase II expansion project remains underway.

During the company’s 2025 online performance briefing, management provided updates on the progress of its Malaysia operations, product development strategy, profitability pressures and overseas investments.

The company said the first phase of its Malaysia project, which has an annual production capacity of 800,000 tonnes of waste paper pulp board, was completed and commenced operations in 2023. From January to December 2025, Jingxing Holdings (Malaysia) Sdn Bhd recorded operating revenue of approximately RMB 1.008 billion, contributing to the company’s consolidated financial results.

Jingxing Paper added that the second phase of the project, designed with annual production capacity of 600,000 tonnes of corrugated board, is currently under construction and is expected to begin contributing revenue in 2027.

Addressing operational challenges, the company said it plans to optimize its product structure, accelerate development of new products, strengthen cost control and supply chain management, and expand sales channels and customer development efforts.

Separately, the company disclosed that Rongteng Fund, in which its wholly owned subsidiary Shanghai Jingxing Industrial Investment Co., Ltd. participates, has invested in Unitree Technology. Jingxing Paper invested RMB 20 million in Rongteng Fund, representing approximately 1.6667% of the fund’s shares.

According to Unitree Technology’s prospectus, Rongteng Fund held 1.1868% equity in the robotics company as of June 2025.