Asia Plastic Business Summary

Asia Plastic Recycling Holding Limited (1337.TW) operates a vertically integrated circular economy model, generating revenue through the recycling of waste plastics into high-performance Ethylene-Vinyl Acetate (EVA) foam materials. The company’s primary business segments include the production of EVA foam sheets—widely used in the footwear, luggage, and automotive interior industries—and the sale of recycled plastic pellets. By leveraging proprietary processing technologies to convert industrial scrap into specialized foam products, the firm serves as a critical supplier to global footwear manufacturing hubs in Fujian and Southeast Asia. Its primary direct competitors include San Fang Chemical Industry Co., Ltd., Victory New Materials Ltd. Co., and Grand Pacific Petrochemical Corp. Within this landscape, Asia Plastic distinguishes itself through its specialized focus on recycled EVA materials, though it currently operates in a challenging environment characterized by regional capacity shifts and volatile resin pricing. The company is led by Chairman Ding Jin-Shan and General Manager Ding Jin-Kuang, key members of the founding family who established the business in 1981 in Jinjiang, China. The executive leadership team, which includes Vice Chairman Chang Hui-Chun and CFO Wang Wei-Min, possesses extensive experience in polymer science and the Greater China industrial supply chain. This founding team was instrumental in transitioning the firm from a local recycling operation to a publicly traded entity on the Taiwan Stock Exchange (再生-KY). Strategic oversight is maintained by the Ding family through Ding Holding Limited, which remains the largest shareholder with a 14.5% stake. The board of directors is composed of industry veterans and independent experts focused on steering the company’s recent initiatives in ESG-compliant manufacturing and the expansion of its production footprint into Vietnam to mitigate geopolitical and cost-related risks.