The robotic arm flies up and down, sending rolls of chemical fiber filament onto the assembly line; hundreds of meters of machinery are neatly arranged on both sides, and the staff only needs to simply operate the buttons… The atmosphere of intelligence is exuded everywhere in the workshop.
On July 27, Shaoxing Keqiao Hengming Chemical Fiber Co., Ltd. located in Ma’an Street invested A 6.05 billion yuan smart production line project with an annual output of 600,000 tons of functional fibers was officially put into operation. The project consists of an annual output of 300,000 tons of FDY fiber and an annual output of 300,000 tons of POY fiber. Among them, the annual output of 300,000 tons of FDY fiber was put into operation on the 27th. After the project is put into production, it will not only reduce labor for the company, but also further improve efficiency, improve product quality, and help the company pursue a differentiated development path. Cao Xueyu, deputy general manager of the company, said: “In addition to the production capacity of 300,000 tons of FDY fiber, we also have a production line project with an annual output of 300,000 tons of POY fiber in progress. It is expected to be put into production in October. The entire project can achieve an annual output of 600,000 tons. Functional fiber.” In the future, as the project is fully put into production and the annual production capacity of 800,000 tons has been put into operation in the early stage, the entire company’s annual production capacity will reach 1.4 million tons.
Behind the Hengming action:
It attracted market attention back then, but now the polyester giant is backing it
The reporter noticed that as early as August 2019, Hengyi Petrochemical, a listed company under Hengyi Group, had published a According to the announcement, the major shareholders of Shaoxing Hengming include Hangzhou Xinheng Investment Partnership (Limited Partnership) holding 51%; Ningbo Heyuan Holdings Co., Ltd. holding 17%; Ningbo Qile Investment Management Co., Ltd. holding 16%; Shi Chang holds 16% of the shares.
A recruitment information for Hengming Chemical Fiber stated that “the predecessor of our company, Shaoxing Far East Chemical Fiber Group Co., Ltd., was auctioned by the Shaoxing Keqiao Court in March 2018 due to the bankruptcy of the former company. It was acquired by our company through bidding.” Public information shows that Far East Chemical Fiber Group is a large domestic chemical fiber company, and its previous bankruptcy case once attracted attention.
In December 2018, local media reported that on February 23 this year, Hengming Chemical Fiber successfully won some assets of the Far East Group through a judicial auction, and the relevant person in charge of Ma’an Town immediately established After more than four months of efforts by the Far East Group’s Judicial Disposal Emergency Leading Group, from June 27 to June 29, the disposal of 2,007 employees of the former Far East Group was completed smoothly and orderly in accordance with the law, and more than 1,600 of them were taken over by Hengming Chemical Fiber.
In July 2018, Hengyi Petrochemical announced that Hangzhou Xinheng Investment Partnership (Limited Partnership), the merger and acquisition fund in which the controlling shareholder Hengyi Group participated as a limited partner, established a project company Hengming Chemical Fiber, Hengming Chemical Fiber won the relevant assets of Shaoxing Binhai Petrochemical Group Co., Ltd., Zhejiang Far East Chemical Fiber Group Co., Ltd. and Zhejiang Far East New Polyester Co., Ltd. through online bidding at a transaction price of 1.619 billion yuan.
Industrial and commercial information shows that the shareholders behind Shaoxing Hengming’s shareholder Hangzhou Xinheng Investment Partnership (Limited Partnership) include: China Cinda Asset Management Co., Ltd., Hengyi Group Co., Ltd. , Ningbo Borongda Investment Management Co., Ltd., Xinfeng Investment Management Co., Ltd.
After the intervention of Hengyi Group, Hengming Chemical Fiber and Hengyi Petrochemical started doing business.
Hengyi Petrochemical stated that Hengyi Petrochemical has the right of first refusal on Hengming Chemical Fiber, which will help Hengyi Petrochemical successfully acquire high-quality projects or assets. If Hengming Chemical Fiber meets the conditions for acquisition in the future, Hengyi Petrochemical’s acquisition of it will further strengthen the company’s strength, optimize its industrial layout, enhance Hengyi Petrochemical’s profitability, and continue to create value for shareholders.
The Hengming Chemical Fiber intelligent production line construction project with an annual output of 1.4 million tons of functional fibers is a major strategic project for Hengyi to further strengthen and expand the industry. Hengyi Petrochemical also stated in the announcement that the relevant assets successfully bid by Hengming Chemical Fiber are used to operate the production, processing and sales of chemical fiber raw materials, and entrust the company itself or a designated company to provide management and consulting services for its production and operation activities. The company provides medium to long-term business expansion opportunities.
Since 2017, Hengyi Group has seized the opportunity of supply-side structural reform, actively used capital power, and through multiple acquisitions and mergers, it has achieved the fastest and lowest prices through multiple acquisitions and mergers. cost, achieving large-scale expansion of polyester production capacity of millions of tons.
“Now each of our chemical fiber factories is equivalent to each of the upstream PTA and PX Gas stations may not be a very profitable product, but they are a channel to ensure upstream competitiveness and a cash flow platform.” Qiu Jianlin, chairman of Hengyi Group, said in a joint interview with Shanghai Securities News and Securities Daily He once expressed this.
The development blueprint drawn according to the “Sixth Five-Year Plan” of Hengyi Group from 2021 to 2025 , will adhere to the petrochemical industry as the core, closely focus on high-quality development and innovative development, and follow the three-in-one development model of “headquarters + scientific research + base” to actively build 1 platform, 2 centers, and 6 bases to betterRealize “upstream and downstream collaboration, domestic and overseas linkage, software and hardware matching”, and become a world-class petrochemical-chemical fiber comprehensive service provider. </p
