At the end of 2019, the first phase of Zhejiang Petrochemical’s 20 million tons/year integrated refining and chemical project reached full production, with an output value of 74.8 billion yuan in 2020, accounting for nearly 50% of Zhoushan’s total industrial output value in 2020. Recently, good news has come from the market again. According to Zhejiang Daily, the second phase of the huge project is currently under construction. It is expected that the second phase of the project will be completed by the end of 2021. It is understood that after Zhejiang Petrochemical’s 40 million tons/year refining and chemical integration project reaches full production, the annual output value is expected to exceed 250 billion yuan, which can drive 600 billion yuan in the upstream and downstream industrial chains.
The Zhoushan Green Petrochemical Base’s 40 million tons/year refining and chemical integration project (Phase I + Phase II) is currently the largest investment single industry project in the world. Since May 2019, the first phase of Zhoushan Green Petrochemical Base has been put into operation, processing 23.06 million tons of crude oil in 2020.
In July 2020, Zhejiang Petrochemical Co., Ltd., a key enterprise in the base, obtained the country’s first non-state-owned trade export qualification for refined oil; On November 18, the company received another 1 million tons of refined oil export quota; by the end of December 2020, in just over one month, the company had exported 850,000 tons of refined oil.
“The second phase of the 20 million tons/year refining and chemical integration project is advancing faster than the first phase.” Related to Zhoushan Green Petrochemical Base Management Committee The person in charge said that on January 2, 2021, after more than six months of intensive construction, the reactor frame of the residual oil hydrogenation unit of the base’s second phase project was finally hoisted and capped successfully. The Zhoushan Green Petrochemical Base has currently completed a total investment of nearly 130 billion yuan, and will complete fixed asset investment of approximately 38.6 billion yuan in 2020. According to the established plan, Zhoushan Green Petrochemical Base will focus on the third phase of development, continue to expand the scale of the industry, and refine and strengthen the midstream and downstream petrochemical industry chain.
The wheels of the private chemical fiber and petrochemical industries are spinning rapidly. Rongsheng Petrochemical is on the fast lane. The leading Zhoushan 40 million tons/year refining and chemical integration phase II project is gradually approaching. This super large Engineering is undoubtedly the highlight of the company now and even for a long time to come.
According to information, Rongsheng Petrochemical has many subsidiaries, mainly including wholly-owned subsidiaries Ningbo Zhongjin Petrochemical Co., Ltd. (“Zhongjin Petrochemical”), Zhejiang Shengyuan Chemical Fiber Co., Ltd. (“Shengyuan”) Chemical Fiber”), Zhejiang Yongsheng Technology Co., Ltd. (“Yongsheng Technology”); holding subsidiaries Zhejiang Petrochemical Co., Ltd. (“Zhejiang Petrochemical”), Dalian Yisheng Investment Co., Ltd. (“Yisheng Investment”), Yisheng Petrochemical Co., Ltd. Company (“Yisheng Hua”); and joint-stock companies Zhejiang Yisheng Petrochemical Co., Ltd. (“Zhejiang Yisheng”) and Hainan Yisheng Petrochemical Co., Ltd. (“Hainan Yisheng”).
Among them, Zhejiang Petrochemical is the implementation entity of Rongsheng Petrochemical’s “40 million tons/year refining and chemical integration project” and is also one of the main sources of income for listed companies. According to the data disclosed by Rongsheng Petrochemical in the 2020 semi-annual report, as of the end of the reporting period, Rongsheng Petrochemical still held 51% of the shares of Zhejiang Petrochemical. “After the project is successfully put into operation, the scale of Rongsheng Petrochemical will double, which means ‘rebuilding a Rongsheng’.” Chairman Li Shuirong said. It is understood that the first phase of the project was put into operation at the end of 2019. The first quarter financial report of the next year showed that in the first quarter of 2020, the company achieved a net profit attributable to shareholders of listed companies of 1.226 billion yuan, of which Zhejiang Petrochemical contributed more than two-thirds of the total profit. When disclosing the semi-annual performance forecast, it was shown that: the company achieved operating income of 50.282 billion yuan in the first half of the year, a year-on-year increase of 27.32%; net profit was 3.208 billion yuan, a year-on-year increase of 206.55%; during the reporting period, the company’s year-on-year performance increased significantly, mainly due to the holding subsidiary Zhejiang After the first phase of Petrochemical Co., Ltd.’s “40 million tons refining and chemical integration project” was put into operation, the production of each device has progressed smoothly, the operating load has steadily increased, and the benefits have been released significantly.
Recently, the Bloomberg Billionaires Index showed that Tesla CEO Elon Musk’s net worth rose to US$195 billion (approximately 1.26 trillion yuan), successfully surpassing Amazon CEO Bezos becomes the new richest man in the world. Advanced technology is the ladder for Musk to become the world’s richest man, and this is also the path of upgrading and transformation that Chinese chemical fiber companies are currently pursuing. After the super-large project of Rongsheng Petrochemical comes into operation, will the leader Li Shuirong be able to take the top spot among China’s chemical fiber tycoons?
To this end, we sorted out the TOP10 listed companies in China’s chemical fiber industry, and calculated the market value ranking of a single listed company based on the stock price on December 30, 2020, as well as the largest individual shareholding ratio among listed companies. Personal shareholding value.
Comparison of the largest individual shareholding assets of China’s chemical fiber listed companies:
What needs special explanation is:
1. The largest individual shareholding of a single listed company only reflects the asset changes in listed chemical companies. Among them, the largest individual shareholder of most listed companies is a group company and multiple mutually held companies. They will also hold shares in indirect companies, such as shares in group companies and shares in listed companies.��The group company is also the largest shareholder of the listed company, but this part is not within the scope of this study. This article only reflects the equity structure of the listed company and the value of the largest individual holding shares.
2. The equity structure of listed companies that have not been filled in in the above picture is corporate shareholding, and there is no individual shareholding.
According to the largest individual holdings of individual listed chemical fiber companies in China, the top three are:
The first is Fan Hongwei of Liaoning Hengli Petrochemical Co., Ltd. , holding 12.59% of the shares of listed company Hengli Petrochemical, and the shareholding value calculated based on this is 25.053 billion yuan.
The second place is Li Shuirong of Zhejiang Rongsheng Petrochemical Co., Ltd., which holds 6.82% of the shares of the listed company Rongsheng Petrochemical. Based on this calculation, the shareholding value is 12.60 billion yuan.
Although in China’s chemical fiber industry, individual shareholding ratios vary according to changes in listed companies, group companies and indirect shareholding companies, there are several families in the chemical fiber industry who are The chemical industry is recognized as China’s “richest man”. Here, we take a further look at the “rich families” in China’s chemical industry.
According to relevant information on the Hurun Rich List, the top three “rich families” in China’s chemical fiber industry are: Chen Jianhua and Fan Hongwei of Hengli Group, and Li Shuirong of Rongsheng Group Miao Hangen and Zhu Hongmei from the family and Shenghong Group.
The editor believes that the first phase of Zhejiang Petrochemical has been put into production, and the second and third phases are under construction in an orderly manner. As the main shareholder of Rongsheng Petrochemical, the assets of the Li Shuirong family will continue to expand. In addition, Hengli Petrochemical is currently arranging coal chemical integration projects in Shaanxi and refining and chemical integration projects in Southwest China. It is expected that in the short term, it will continue to remain at the top of the list of “rich families” in China’s chemical fiber industry.
Ranking of the richest families in China’s chemical industry in 2020 (Source: Hurun Rich List)
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