(Hypak™Hypak™)

Spinning metamaterial by flash evaporation Hypak™ is a high-strength, waterproof and breathable special fiber material, it is arranged in the form of non-woven fabrics, thus to achieve a high balance between waterproof and breathable properties as well as high strength and light weight. With the density of structure, small pore size can allow gas molecules to pass through. Therefore, it has  the characteristics of waterproof, dust-proof and good air permeability, as well as its high cleanliness, toughness and tear resistance, the material can be well used in construction, medical treatment, personal protection, packaging, printing and industry, etc. It is widely applied to the highest-end applications of non-woven fabrics and specialty paper. It has nearly hundreds of kinds downstream application scenarios and industries.

The advent of Hypak™ has broken the global monopoly of foreign enterprises on flash spinning technology since the 1950s and will also greatly improve the long-term shortage of flash spinning metamaterials in the market.
 

The main business of「Kingwills」is the research and development, production and sale of Hypak™ (Chinese is "鲲纶®"). Shanghai Kingwills, the parent company, was established in early 2014. It has experienced a long period of research and development, from test to the pilot-scale production line, then to the large-scale production line of「Kingwills」, which is lasted for nearly 8 years.「Kingwills」has a high-level scientific research team composed of scientists studied overseas, which creates favorable conditions for the research and development of new product, and also provides solid technical support for the continuous optimization of existing product and quality improvement. In 2017, under the leadership of Mr. Boyi Chen, founder and CEO of「Kingwills」, the research and development team of「Kingwills」made a breakthrough in the basic research and development of flash spinning metamaterials, breaking the technology monopoly abroad, and laid out a pilot-scale production line in 2019. The Hypak™ products of「Kingwills」can fill in the market vacancy and replace the mid-to-high end materials in the sub-sectors compared with the monopoly products abroad of the same type. At the same time, it has a wider application space, which increases the imagination for the successful research and development of this new material. Mr. Boyi Chen said that Hypak™ already has similar appearance and microstructure to the same type of monopoly products abroad, and its performance index is also very close. Hypak™ has a very wide range of applications and will replace more competitors with lower price.

At present, the pilot-scale production line of「Kingwills」is operated, and the construction of large-scale production line is in rapid progress. The annual output will reach 40,000 tons after the completion of the first phase of construction. At the same time, products of「Kingwills」has been approved and used by Oriental Yuhong, which is a leading listed company in building waterproofing industry. Oriental Yuhong is not only a strategic customer of「Kingwills」but also one of the important investors in this round of financing. It will work together with「Kingwills」to promote the development of green and energy-saving construction in China even in the international market. Zhang Ying, Director and Vice President of Oriental Yuhong, said that the comprehensive performance index of Hypak™ produced by「Kingwills」almost reached the highest standard in the world, but the price is more competitive. With the continuous release of subsequent production capacity, its cost performance will far exceed that of foreign products. At the same time, the team headed by CEO Mr. Boyi Chen has strong ability, complementary advantages and ambitions. Oriental Yuhong is willing to fully support the rapid development of「Kingwills」in terms of capital, market, technical cooperation, etc.

"Flash spinning metamaterials have excellent physical properties and have broad application prospects in medical treatment, protection, construction, packaging or many other fields," said by the project leader of GL Ventures who is also the lead investor of this round of financing. “However, due to its difficult technological process, it has relied on imports for a long time and is costly.「Kingwills」is a team with superior technical strength, with both academic and industrial background, and solid experience in research and development, production and sales of flash spinning metamaterials. We believe that「Kingwills」will further lead the realization of the localization of flash spinning metamaterials and create higher quality and lower cost solutions for all industries. "

Mr. Kai Wu, Executive General Manager of CICC Capital, said: "The global flash spinning technology has been monopolized by foreign enterprises since the 1950s. It has a very high technological threshold and almost no other company can successfully produce it. This enterprise has long monopolized the supply in the Chinese market and the prices of relevant industrial chains. If it can be localized, it will be able to solve a major problem and change the global market pattern. Flash spinning metamaterials have a wide range of applications, and have a huge market space in the fields of global building energy conservation, medical packaging, protective clothing, packaging and printing. After it’s localized, the domestic market is expected to grow rapidly. The team of「Kingwills」is excellent, it has been in the field for many years and has been commercialized. We are very optimistic about the future development of 「Kingwills」.

Huang Kuan, Executive Director, Investment Department of AGF, also said, "Because of its special performance and extremely difficult process, flash spinning metamaterials have always been the top materials in the fields of medical packaging, building waterproofing, protective clothing, printing and other fields in the world for the past 50 years, and have produced significant sustainable green effects through building energy conservation, lightweight packaging and recycling.「Kingwills」brings together the best research and development and commercialization team with long-term industry experience of this material to overcome technical difficulties, realize domestic substitution, and optimize the global market structure. It is the breaker of China's flash process and products. It is believed that with the release of production capacity,「Kingwills」will quickly meet the huge demand in the domestic and foreign markets, and at the same time, it is expected that the further promotion and application of this material will further contribute to the realization of "Carbon Peaking and Carbon Neutrality".