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企业概况

Company Profile

Jiangsu Eastern Shenghong Co., Ltd. (hereinafter referred to as the “Listed Company” or the “Company”) is a globally leading energy and chemical enterprise that has vertically integrated the whole industrial chain and been deeply engaged in the new energy and new materials business. It is a core listed subsidiary of Shenghong Holding Group Co., Ltd., a Fortune 500 company. In August 2018, it successfully entered the Chinese capital market as the primary operating entity of Shenghong Group’s chemical fiber assets and was listed on the Main Board of the Shenzhen Stock Exchange after restructuring. The Company’s stock abbreviation is “Eastern Shenghong” and its stock code is “000301.”

The Company is primarily engaged in the industries of petrochemical, new chemical materials, polyester, and chemical fibers, with industrial bases in Lianyungang, Suzhou, and Suqian in Jiangsu Province. The Company has more than 50 subsidiaries and branches, including Shenghong Refining & Chemical (Lianyungang) Co., Ltd., Jiangsu Sierbang Petrochemical Co., Ltd. (hereinafter referred to as the “Sierbang Petrochemical”), Jiangsu Honggang Petrochemical Co., Ltd. (hereinafter referred to as the “Honggang Petrochemical”), Jiangsu Guowang Hi-Tech Fiber Co. (hereinafter referred to as the “Guowang Hi-Tech”), Ltd., Shenghong New Materials (Suqian) Co., Ltd., and Jiangsu Ruibang Technology Co., Ltd. The Company has over 30,000 employees in service. The Company insists on thoroughly practicing the ESG concept. Its wholly-owned subsidiaries, Guowang Hi-Tech, Sierbang Petrochemical and Honggang Petrochemical have been awarded the national Green Factory and several subsidiaries?are national high-tech enterprises.

The Company has a refining-petrochemical integration plant with a capacity of 16 million metric tons/year, a methanol-to-olefin (MTO) plant with a capacity of 2.4 million metric tons/year, and a propane dehydrogenation (PDH) plant with a capacity of 700,000 metric tons/year, and has formed an industrial pattern of "double chains" of olefins and aromatics and has unique capabilities in integrative production of olefins, kerosene, coal and natural gas which has gradually formed an integrated chemical industry chain with vertical integration. Relying on refining integration, alcohols coproduction and propylene industry chain projects, the company has established a basic chemical raw material supply platform for downstream fine chemicals industries. The company has established a new development strategy of "strengthening, extending and supplementing" the industrial chains from upstream oil refining to downstream high-value-added fine chemicals. The company has formed an industrial layout of "1 core platform + N diversified industry chains" for new energy, new materials, electronic chemicals, biotechnology and other emerging industries developing in a coordinated way. In the future, the company will further expand vertical integration across the entire industry chain, deepen strategic deployment in new energy, new materials and other fields, to build a world-class industrial cluster of new energy and new materials high-tech industries, and accelerate the construction of a world-leading enterprise with global competitiveness.

公司致辞

Company Message

Firm belief, forging strengths, and moving towards greenery
Steadily advancing on the track of high-quality development

The setting sun of another year brings the beginning of a new cycle. Looking back on 2023, external challenges abounded with frequent geopolitical conflicts, persistent US dollar appreciation, and global market reshaping—all directly impacting the chemical and textile industries. Through enduring pressure, overcoming difficulties and forging ahead, we achieved overall steady development, improving quality and accumulating advantages while maintaining stability and profitability.

Over the past year, adhering to strategic guidance, we further deepened the "1+N" industry deployment. The completion of the Shenghong refining and chemical integration project laid a solid foundation for high-quality industrial transformation as the core raw material supply platform. Numerous new energy and new material products achieved breakthrough progress, driving the development of New Productive Forces. The fourth acrylonitrile unit of Sierbang Petrochemical came online with total capacity reaching 1.04 million tons/year, making it the world's largest. POE self-research and industrialization succeeded with a 100,000 ton/year facility under construction. Leveraging technological advantages, the million-ton EVA project continues to advance toward the goal of "building the world's largest photovoltaic film production base". The successive commissioning of regenerated polyester fiber, PETG, MMA and other high-end new material projects realized self-sufficiency of major raw materials and significant synergies across upstream and downstream integration. Aiming to build an industry chain of advanced, intelligent and green refining and petrochemicals, we seized all favorable opportunities and conditions relying on full chain development layouts to open up broader prospects for high-quality industrial transformation and upgrading.

Over the past year, adhering to innovation-driven development, we further strengthened core competitiveness. Upholding the philosophy of "no repetitive construction, no conventional products, no conventional production technologies", focusing on various requirements to develop New Productive Forces, we made technological innovation the cornerstone and increased R&D efforts. Guowang High-tech took the lead in establishing the Suzhou Biomass Fiber Materials Innovation Alliance. The Petrochemical Industry Group explored building smart factories with equipment self-control rates exceeding 95%. Sierbang Petrochemical applied robotic and other new technologies to build the industry's first intelligent inspection system. At the same time, we continued to research and produce high-end products—our independently developed high-melting point EVA was awarded "2022 Chemical New Material Innovation Product". A series of innovative achievements have made huge contributions to China's transformation and upgrading of emerging industries.

Over the past year, adhering to green and low-carbon development, we further improved sustainable development capabilities. The carbon dioxide capture and green methanol unit was commissioned to build the industry's first positively carbon-absorbing industrial chain producing new energy materials. The official launch of the Green Fiber Product Credible Platform formulated China's standards system for the green textile industry. Projects such as biomass fiber, carbon-negative fiber and recycling of used textiles progressed in an orderly manner. Focusing on "growing green volume" to "enrich industrial value", we continued to create green technology application scenarios and explore full-cycle carbon reduction to become an industry benchmark for emerging productive forces.

Over the past year, adhering to cooperation and mutual benefit, we further expanded our domestic and international "friends circle". Through long-term cooperation with domestic and foreign suppliers and customers, we are committed to building mutually beneficial long-term partnerships based on win-win cooperation. We actively promoted in-depth cooperation with renowned international suppliers in areas such as raw material procurement and hardware facility sharing. Direct purchasing suppliers of regenerated fibers added brands such as Décathlon, Uniqlo, Target and H&M. Our roster of strategic partners continues to expand.

As spring emerges on the forested hills, great opportunities lie ahead. Currently, China is accelerating the establishment of a modern industry system with advanced manufacturing at its core to promote high-quality development and cultivate New Productive Forces. We will unwaveringly adhere to the original aspiration of developing in alignment with national strategies, adhere unwaveringly to the "1+N" industry layout, adhere unwaveringly to the transformation orientation of advancing, intelligence and green development, with resolve, unity and perseverance. Going forward, we will continue making technological innovation the cornerstone and increase R&D efforts focused on key areas to continuously develop and produce high-end products; take green and low-carbon development as our pursuit to explore full-cycle carbon reduction and lead the way for the industry to achieve "dual carbon" goals; leverage digital transformation as our path by fully applying frontier technologies such as AI and big data to improve total factor productivity and steadily advance toward our goal of becoming a "world-class enterprise with global competitiveness".

历史沿革

History

  • 2022Year

    2022Year1Month,Upon the approval of the SCRC (in No. 4179 [2021] of SCRC Permit), the Company issued 1,111,528,326 shares to Shenghong Petrochemical Group Co., Ltd. and Lianyungang Bohong Industrial Co., Ltd., which were listed on the Shenzhen Stock Exchange on January 27, 2022. As of February 25, 2022, the total share capital of the Company was changed to 5,946,495,968 shares and the registered capital was changed to CN¥5,946,495,968 due to the increase in the number of shares of the Company as a result of the issuance of shares and the conversion of convertible corporate bonds to shares. 2022Year7Month,Upon the approval of the SCRC (in No. 4179 [2021] of SCRC Permit), the Company issued 266,714,109 ordinary shares in renminbi to 22 specific investors, which were listed on the SZSE on July 20, 2022. As of July 20, 2022, the total share capital of the Company was changed to 6,213,237,010 shares and the registered capital was changed to CN¥6,213,237,010 due to the increase in the number of shares of the Company as a result of the issuance of shares and the conversion of convertible corporate bonds to shares. 2022Year12Month,Upon the approval of domestic and overseas agencies, that is, the SCRC (in No. 3151 [2022] of SCRC Permit) and SIX Exchange Regulation AG, the Company completed all matters concerning GDR issuance and listing on the SIX Swiss Exchange on December 28, 2022. In that offering, 39,794,000 GDRs were issued, corresponding to 397,940,000 A shares of the Company as additional underlying securities. As of December 31, 2022, the total share capital of the Company was changed to 6,611,189,232 shares and the registered capital was changed to CN¥6,611,189,232 due to the increase in the number of shares of the Company as a result of this offering of GDRs of the Company and the conversion of convertible corporate bonds to shares.

  • 2021Year

    2021Year3Month,Upon the approval of the SCRC (in No. 512 [2021] of SCRC Permit), the Company issued 50,000,000 convertible corporate bonds on March 22, 2021, with a total issuance amount of CN¥5,000,000,000, which were listed for trading on the SZSE on April 21, 2021.

  • 2020Year

    2020Year7Month,Upon the approval of the SCRC (in No. 655 [2020] of SCRC Permit), the Company issued 805,810,644 ordinary shares in renminbi to a total of 15 specific investors, including Shenghong (Suzhou) Group Co., Ltd., which were listed on the SZSE on July 15, 2020. The total share capital of the Company was changed to 4,834,863,866 shares and the registered capital was changed to CN¥4,834,863,866.

  • 2018Year

    2018Year8Month,Upon the approval of the SCRC (in No. 1204 [2018] of SCRC Permit), the Company issued 28,10816,777 shares in a non-public offering in August 2018, which were listed for trading on the SZSE on September 3, 2018. The total share capital of the Company was changed to 4,029,053,222 shares and the registered capital was changed to CN¥4,029,053,222. 2018Year9Month,According to the resolution of the first extraordinary general meeting of shareholders in 2018, the name of the Company was changed from “Jiangsu Wujiang China Eastern Silk Market Co., Ltd.” to “Jiangsu Eastern Shenghong Co., Ltd.” and the stock abbreviation was changed from “Eastern Market” to “Eastern Shenghong.”

  • 2008Year

    2008Year7Month,According to the resolution of the second extraordinary general meeting of shareholders in 2008, the Company’s name was changed from “Wujiang Silk Co. Ltd.” to “Jiangsu Wujiang China Eastern Silk Market Co., Ltd.” and the stock abbreviation was changed from “Silk Share” to “Eastern Market.”

  • 2006Year

    2006Year10Month,The convertible corporate bonds issued and listed by the Company were cumulatively converted to share capital of 29,860,967,674 shares. According to the resolution of the first extraordinary general meeting of shareholders in 2006, the Company transferred 7 shares for every 10 shares in capital surplus to all shareholders on the basis of 7,166,609,674 shares in total (par value of CN¥1 per share) as at the close of business on October 30, 2006, and the Company’s share capital was increased by CN¥50,162,6771. At that time, the total share capital of the Company was changed to CN¥12,182,364,445 and the registered capital was changed to CN¥12,182,364,445.

  • 2002Year

    2002Year9Month,Upon the approval of the SCRC (in No. 85 [2002] of SCRC Issue), the Company issued convertible corporate bonds of CN¥800,000,000 on September 9, 2002, which were listed for trading on the SZSE on September 24, 2002.

  • 2000Year

    2000Year4Month,Upon the approval of the SCRC (in No. 35 [2000] of SCRC Issue), the Company issued 105,000,000 ordinary shares in renminbi to the public in April 2000, which were listed for trading on the SZSE on May 29, 2000.

  • 1998Year

    1998Year7Month,Jiangsu Eastern Shenghong Co., Ltd. (formerly known as “Wujiang Silk Co., Ltd.” and “Jiangsu Wujiang China Eastern Silk Market Co., Ltd.,” hereinafter referred to as the “Company”) is a limited-liability company incorporated jointly by Jiangsu Wujiang Silk Group Co., Ltd., Jiangsu Province Silk Group Co., Ltd., China Silk Industry Corporation, China National Garments Group Corp., and Suzhou Foreign Development Corporation upon the approval of the Jiangsu Provincial People’s Government (in No. 71 [1998] of Suzhou Government Reply). The Company was established on July 16, 1998, with a registered capital of CN¥313,000,000. 1998Year9Month,Upon the approval of the China Securities Regulatory Commission (SCRC) (in No. 223 [1998] of SCRC Issue and No. 224 [1998] of SCRC Issue), the Company issued convertible corporate bonds of CN¥200,000,000 in August 1998, which were listed for trading on the Shenzhen Stock Exchange (SZSE) on September 15, 1998.

  • 组织架构

    Organization

    荣誉资质(省级及省级以上)

    Honor

    (中文) 全国五一劳动奖状
    (中文) 全国劳动关系和谐企业
    国家火炬计划产业化示范项目证书 熔体直纺阳离子染料易染聚酯
    9 国家生物基PTT纤维产品开发基地x
    国望2014年 全消光基地
    2017年 国望高企证书
    智能制造试点示范(生物基纤维)
    中鲈2016 高新企业证书
    超仿棉聚酯纤维 科学技术一等 中国工业协会
    2017年度全国化纤行业品牌质量先进企业
    中鲈名牌产品证书 富达纶
    (中文) 德勤获奖证书

    未来蓝图

    Blueprint For The Future

    The Company takes the responsibility and mission of promoting social harmony, environmental friendliness and quality of life, integrates the benefit dimension, environmental dimension and social dimension measurement standards, strives to realize corporate value and create social value, provide high value for customers and contribute to social development through its own outstanding growth.

    To this end, the Company grasps the business direction of extending the industrial chain from bottom to top and expanding the product chain from top to bottom, and guided by differentiation, technological innovation, high value-added, green and environmental protection, promotes comprehensively the transformation of strategic Full Text of the 2022 Annual Report of Jiangsu Eastern Shenghong Co., Ltd.emerging industries around new energy materials, high-performance new materials and low-carbon green industries, and constructs and forms the a new "1+N" pattern of diversified industrial chains of core raw material platform + new energy, new materials, electronic chemistry and biotechnology etc., so as to create a world-class new energy and new materials high-tech industry cluster for providing innovative chemistry and new materials for a green and sustainable future.

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