Jiangsu Eastern Shenghong Co., Ltd. (hereinafter referred to as “the Company”), founded on July 16, 1998, is located in Shengze Town, Wujiang District, Suzhou City, Jiangsu Province. With the approval of China Securities Regulatory Commission, the Company successfully landed in the domestic capital market and listed on the main board of Shenzhen Stock Exchange in 2000, with the stock code of “000301”. In August 2018, the Company completed major asset reorganization, becoming the core listed subsidiary of Shenghong Holding Group which is one of the top 500 enterprises in China. By the end of 2019, the registered capital of the Company was RMB 48,348,638,660,000 yuan.
The companys current main business includes the research and development, production and sales of civilian polyester filament yarns, as well as the production and sales of PTA and thermoelectricity. The business layout covers oil refining, petrochemical, chemical fiber, thermoelectric and other industries. Among them: the polyester chemical fiber business segment has 2.3 million tons of differentiated chemical fiber production capacity per year. The main products include POY, FDY, DTY, etc., with a product differentiation rate of 90%. There are more than 100 types of differentiated and subdivided products, with high-end products. The main product is DTY, and the main operating body is Jiangsu Guowang Hi-Tech Fiber Co., Ltd. which is a national high-tech enterprise
The petrochemical business segment has 3.9 million tons/year PTA capacity; the Shenghong refining and chemical integration project is under construction, and the project scale is 16 million tons/year oil refining, 2.8 million tons/year paraxylene, 1.1 million tons/year ethylene and downstream Derivatives, supporting 300,000-ton crude oil terminals, 4 50,000-ton liquid chemical terminals, etc., are scheduled to be put into operation at the end of 2021, and are expected to achieve nearly 100 billion in annual sales revenue and nearly 10 billion in net profit; the energy business segment has 900 tons/ Hourly heating capacity, 54,000 kilowatts of power generation capacity, and two 100,000 kilowatt-class gas turbine cogeneration projects under construction.
Currently, the main business of the Company includes the research and development, production and sale of civil polyester filament yarn, and the production and sales of PTA and thermal power, among which: polyester chemical fiber business segment has a 2,300,000 tons/year differentiated chemical fiber production capacity with the main products of POY, FDY and DTY, the product differentiation rate reaches 90%, and the differentiated product categories are more than one hundred, which is mainly the high-end product DTY; PTA business segment has a 1,500,000 tons/year PTA capacity, while 2,400,000 tons/year PTA capacity is under construction; in refining business segment, Shenghong Refinery integration project is under construction, of which scale includes 16,000,000 tons/year of oil refining, 2,800,000 tons/year of paraxylene, 1,100,000 tons/year of ethylene and downstream derivatives, 3000,000 tons of crude oil terminal and four 50,000 tons of liquid chemical terminals, which are planned to be put into operation by the end of 2021; thermal power segment has a 900 tons/hour of heating capacity and two 100,000 KW of gas turbine cogeneration projects are under construction. Its business layout runs through the industries of refining, petrochemical, chemical fiber and thermal power.
With the passage of time and as immutable as the rivers, the pace of time has entered a new node. In 2019, we celebrated the 70th anniversary of the founding of new China with brilliant achievements, devoted to the torrent of progress with the mission of striving for a new ear, running out of the “accelerated speed” and playing the “March”.
At present, the economy of China is in the crucial period of transforming the development mode, optimizing the economic structure and converting the growth power. With the keynote of “seeking improvement in stability”, we will continue to realize the steady growth, adjust the structure, prevent the risks and climb the peak. We stand at the new time point and contribute to the new chapter of the development of Eastern Shenghong with all walks of life through the report to review and summarize the past year, which has a great significance.Chain-state integration, pressing “acceleration key” for industry run-through
In the past year, facing the complex situation of profound changes in market structure and the continuous increase of uncertain and unstable factors, the Company has firmly adhered to the development strategy, maintained the development focus and actively sought for innovation and change, so that the overall operation made steady progress, the economic growth structure was continuously optimized, the growth power was further strengthened and the growth quality was continuously improved; with the successive injection of Shenghong Refinery and Honggang Petrochemical, the subsequent development of the Company is given more vitality and expended larger space; the refining integration project under construction is planned and constructed with the international first-class standards, and steadily advances towards the objective of reaching the production capacity in 2021; the synergistic effect of main business segments shall continue to highlight, and the construction of ecological chain and value chain of upstream and downstream industries is improved day by day, and the ability to resist risks and the comprehensive competitiveness of the Company continue to improve.Innovation driven, rebuild “new engine” for the improvement of quality and efficiency
Innovation driven is the core power of company development. The advanced functional fiber innovation center led and built by us has been approved by the Ministry of Industry and Information Technology of the People’s Republic of China, becoming the national 13th and the provincial first national manufacturing innovation center in Jiangsu Province. It is also the first national manufacturing innovation center led and built by private enterprise. In the future, the center will aim at the key and core technologies with general character and drive the core competitiveness of domestic functional fiber industry to be further enhanced; we will continue to increase investment and base on the international frontier fields, to continuously improve the innovation system and platform carrier, accelerate the application technology development of new products, speed up the achievement transformation, continue to make efforts in both domestic and foreign markets, and open up more development space through differentiation strategy.Green first, grasp “steering wheel” for high-quality development
We promote the high-quality development with the concept of green priority, and highly integrate enterprise development with ecological civilization. Guowang Hi-Tech and Honggang Petrochemical successfully create the national “green factory”, and Honggang Petrochemical takes the lead in the preparation of national standards for PTA green factory; we strengthen green production in the whole process and carry out integration model of energy conservation and environmental protection, so a batch of energy-saving, water-conservation and emission-reduction transformation projects are implemented one after another, realizing source reduction, process control and cyclic utilization; we adopt new technology and new process so as to lead the green cycle of industry by biomass fiber and renewable materials; we build a safe and green production system, strengthen safety awareness, improve the level of resource utilization, and contribute to the protection of green hills and clear waters.Mission undertaking, construct a harmonious “community”
We are committed to our own development, simultaneously strive to practice and assume the responsibility and mission of excellent corporate citizens. On the basis of talents, we constantly improve the talent selection, training and incentive mechanism to gather the endogenous power for vigorous development; adhering to the value of “favoring employees and benefiting society”, we provide the employees with intimate care measures, various training opportunities and broad career development platform; we feel the same way and let the “positive energy” integrated into the corporate gene become culture and business card where the society needs us; we do not forget our original intention, and strive to deliver a high score with the mission of coordination and unification of economic responsibility, social responsibility and environmental responsibility.
Set sail to row a thousand waves and step up to a higher level. In 2020, we will keep trying to turn the development strategy into action, turn the vision of climbing the industrial peak into reality one by one. We will face new challenges, plan new actions and forge ahead on a new journey!
Blueprint For The Future