Suzhou’s “Revenue King” Sheng Hong recently disclosed in the 2023 A-share first quarter report that Suzhou’s listed companies, which have officially finished shining in the capital market, also handed over their own “report cards.” As of April 29, of the 203 listed companies in the Suzhou sector, except for Tianwo Technology, which postponed its disclosure, the remaining 202 companies have completed disclosure. In the first quarter of 2023, the Suzhou segment’s revenue totaled 167.399 billion yuan, a year-on-year increase of 7.6%, and the total net profit was 10.95 billion yuan.
There were 29 companies in the Suzhou sector with revenue exceeding 1 billion yuan in the first quarter. Dongfang Shenghong, a leading domestic polyester company, achieved revenue of 29.534 billion yuan in the first quarter of this year, a year-on-year increase of 114.44%, becoming the “revenue king” in the quarter.
Three years have passed, and Shenghong’s total assets have exceeded RMB 100 billion for two consecutive years.
Recently, CCTV’s “Dialogue” program interviewed Miao Hangen, chairman of Shenghong Holdings Group. Miao also talked about how Shenghong started from printing and dyeing in two workshops, developed into a Fortune 500 company, and moved towards the high end of the industrial chain. He said: After 31 years of development, Shenghong “enjoys the new and never tires of the old.” From printing and dyeing in the first decade to chemical fiber in the second decade, and now refining and chemicals in the third decade, Shenghong continues to forge ahead and move towards the high end of the industrial chain.
Recently, CCTV’s “Dialogue” program focused on “Made in China”. Miao Hangen, chairman of Shenghong Holding Group, was a guest on the program and talked about the advanced experience and practices of Shenghong, a “Fortune 500” company that emerged from Shengze, to move towards the high end of the industrial chain.
In the program, Miao Hangen introduced that last month, Shenghong won the 7th China Industry Award, thanks to the company’s advanced manufacturing innovation initiatives and outstanding achievements.
Representing the highest level of “Made in China”, Shenghong has independently developed three “key products” – the first product is recycled fiber made from waste plastic bottles, with a current production capacity of 600,000 tons and a global market share of more than 50 %; the second product is EVA film material for photovoltaics. Shenghong has broken through foreign monopoly through technological innovation and research and development, and its current global market share is close to 30%; the third product is acrylonitrile for carbon fiber, with a current production capacity of 780,000 tons. , ranking first in the country and second in the world. After the fourth unit is put into operation in the second half of this year, its production capacity will become the first in the world.
Miao Hangen said that Shenghong has been making continuous efforts to solve the “stuck neck” problem of my country’s textile industry and achieve import substitution. The POE film materials used in my country’s photovoltaic industry need to be 100% imported, while the POE independently developed by Shenghong was successfully put into pilot testing last year. Currently, Shenghong is working hard to realize the industrialization of POE film materials. It is expected that the first 100,000-ton POE device will be put into production in more than a year, making due contributions to the safe development of my country’s photovoltaic industry chain. At the same time, Shenghong is committed to producing more mid-to-high-end products and leading the development of the industry through R&D and innovation.
Talking about the topic of “what can we rely on to achieve the goal of switching from import dependence to import substitution”, Miao Hangen said that after 31 years of development, Shenghong “enjoys the new and never tires of the old.” In the first 10 years of its development, Shenghong became a leading enterprise in the global printing and dyeing industry, built the world’s largest printing and dyeing factory, and ranked first in China’s printing and dyeing industry for more than ten consecutive years. In the second decade, Shenghong focused on the chemical fiber sector and built the National Advanced Functional Fiber Innovation Center, the first national advanced manufacturing innovation center in Jiangsu Province and the first advanced manufacturing innovation center in the country led by a private enterprise. . In the third decade, Shenghong will expand and strengthen the refining and chemical sector, aim at the development direction of new energy and new materials, move upstream of the industrial chain, and accelerate transformation and upgrading. If an enterprise wants to achieve high-quality development, it must continue to forge ahead and move towards the high end of the industrial chain. Miao Hangen believes that “Made in China” must strive to achieve independent and controllable development and continue to innovate and make breakthroughs. The National Advanced Functional Fiber Innovation Center led by Sheng Hong has successfully developed an environmentally friendly catalyst to replace antimony, solving the water safety pollution problem caused by excessive use of antimony-containing catalysts in fibers. In addition, in order to solve the problem that more than 90% of the oil products used in chemical fiber production originally needed to be imported, the Innovation Center also cooperated with well-known universities and successfully developed domestic oil products that can replace imported oils. Currently, the replacement rate of domestic oil products is increasing. Gradually improving can effectively make up for the shortcomings of the industrial chain. The innovation center brings together many leading companies in the polyester fiber industry chain, polyamide fiber industry chain, and high-performance fiber industry chain, as well as well-known universities and scientific research institutes, etc., to jointly strengthen and repair the chain, and provide high-quality services for my country’s advanced manufacturing industry. provide stronger support for development.