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.