Introduction

Shenghong Holdings Group Co., Ltd. is an international high-tech industrial group integrating the whole industrial chain of petrochemical refining, new energy, new materials and high-end textiles. It has formed a unique domestic development model of ¡°oil, coal and gas¡± in parallel; aromatic hydrocarbons and olefins in parallel; and an upstream and downstream industrial chain. The Group boasts one listed company (Dongfang Shenghong, 000301), has built industrial bases in Suzhou, Lianyungang, Suqian and elsewhere, and set up overseas branches in Singapore, with other business in more than 100 countries and regions around the world.

At present, Shenghong Holding Group ranks 161 in the World's Top 500, 40 in the China's Top 500 Enterprises, nine in China's Top 500 Private Enterprises, and six in China's Top 500 Private Manufacturing Enterprises.

Shenghong Holding Group has successively won the National Science and Technology Progress Award, China Industrial Award, China Textile Light Science and Technology Progress Award, National Technology Innovation Demonstration Enterprise, National Circular Economy Advanced Unit, National Torch Program Key High-tech Enterprise, and the Yuan Baohua Enterprise Management Gold Award, among other honors.

Founded in 1992, the Shenghong Holding Group started from the printing and dyeing downstream of the textile industry and extended to the upstream of the industrial chain and the high end of the value chain, forming a "1+N" industrial layout ("1" is the core raw material platform that is oil, coal and gas, and "N" is the diversified-industrial chain of new energy, new materials, etc.). All major business sectors now occupy a leading position in the industry.

In the first decade, Shenghong started from the printing and dyeing industry, adhering to the strategy of "one factory, one product", and developed into the core supplier of medium and high-end printing and dyeing products with the largest production capacity in the world. At present, Shenghong printing and dyeing has an annual processing capacity of more than 2.4 billion meters, and has been ranked first in the "top ten" list of China's printing and dyeing industry since 2016.

In the second decade, Shenghong developed the chemical-fiber upstream of the industrial chain. Adhering to the idea of "not engaging in duplicate construction, not making conventional products, and not adopting conventional production technology", it mainly engages in the development and production of microfibers and differentiated functional fibers, with an annual production capacity of 3.6 million tonnes and a product differentiation rate of more than 90%. It is known as the "global differentiated fiber expert" and has become the world's largest producer by capacity for microfiber and recycled fiber.

In the third decade, Shenghong continued to extend to the upstream of the industrial chain and developed the petrochemical industry. In Xuwei New District, Lianyungang, one of the "Seven Major Petrochemical Industrial Bases in the Country", Shenghong has built a large raw-material platform with oil, coal and gas in parallel. It boasts the largest single-process refining and chemical integration facility, capable of some 16 million tonnes/year in China; plus the world's largest single 2.4 million tonne/year alcohol-based poly-generation plant. The facility also boasts a 700,000-ton/year propane industrial chain, producing basic chemical products such as 1.1 million tonnes/year of ethylene, 2.8 million tonnes/year of paraxylene, and 1.9 million tonnes/year of ethylene glycol. It is equipped with a storage tank area exceeding 5 million cubic meters, Jiangsu's first 300,000-tonne crude oil berth, and multiple 50-100,000-tonne liquid chemical berths.

Entering the fourth decade, Shenghong has deeply promoted the "1+N" industrial layout and made every effort to build a high-tech industrial group with strong basic raw material guarantee ability and a world-class new energy new material research and development and supply capacity. At present, Shenghong has a production capacity of high-end materials such as 1.04 million tonnes/year of acrylonitrile, 1.05 million tonnes/year of ethylene-vinyl acetate resin (EVA), 100,000 tonnes/year of polyolefin elastomer (POE), 20,000 tonnes/year of ultra-high molecular weight polyethylene (UHMWPE), 100,000 tonnes/year of vinyl carbonate and dimethyl carbonate (EC/DMC), 130,000 tonnes/year PETG, and much more. Among them, the production capacity for acrylonitrile and photovoltaic-grade EVA ranks first in the world, while the production capacity of PETG ranks first in the country.

The Shenghong Holding Group takes innovation as its very roof. It has built innovation platforms such as the National Advanced Functional Fiber Innovation Center, the Advanced Materials Research Institute, the Petrochemical Innovation Center, as well as others, bringing together nearly 5,000 scientific research talents and carrying out industry-academia-research cooperation with well-known universities and scientific research institutes to lead industrial innovation through scientific and technological innovation.

The National Advanced Functional Fiber Innovation Center, led by Shenghong Holding Group, is the first national manufacturing innovation center led by private enterprises in China. The Center gathers over 160 industry-leading enterprises, scientific research institutes and universities, focusing on scientific and technological research and the development of high-end fiber materials and textiles, functional fiber new materials, cutting-edge fiber new materials and work in other fields.

Shenghong Holdings has established the Advanced Materials Research Institute and the Petrochemical Innovation Center in Shanghai and Lianyungang, Jiangsu Province, respectively, to form a "North-South Interaction, Division of Labor and Cooperation", focusing on the frontier exploration of science and technology, technology market development, industry-academia-research cooperation and open innovation, carrying out the research and development of advanced polymer materials, electronic information materials, functional materials, new energy materials, high-end fine chemicals, catalysis and processes and other fields, together with the forward-looking core and common technologies of new materials.

The photovoltaic-grade EVA independently developed and produced by Shenghong fills the domestic gap. All indicators have reached the advanced level of the industry, vigorously promoting import substitution, and have won the "Second Prize for Scientific and Technological Progress" and "New Materials Innovation Products" from the China Federation of Petroleum and Chemical Industry. At the same time, Shenghong has realized a catalyst and full set of production technology for another photovoltaic film material - POE (polyolefin elastomer).
With complete self-sufficiency and successful mass production (100,000 tonnes/year), Shenghong has become the only enterprise in China possessing independent-production technologies for both EVA and POE, as well as two mainstream photovoltaic film materials. Shenghong's independently-developed and innovatively-designed, high-end, new-material PETG plant has successfully commenced production. The project has applied for 29 patents related to its core technologies, 13 of which have been granted. With an annual production capacity of 130,000 tonnes/year, it ranks first in the country, significantly improving the domestic self-sufficiency rate.

Shenghong, in collaboration with domestic and international experts, has successfully overcome the technological barriers of microfiber, developing and producing island-type microfiber with a single filament diameter approaching 1/100th the diameter of a human hair, setting a new world limit. Shenghong has also broke the monopoly of foreign companies on core technologies for PTT, setting multiple records in the history of PTT in the global textile industry, becoming the first domestic enterprise with complete intellectual property rights to produce bio-based PDO and PTT fiber new materials. Shenghong has successively served as the convener of the International Standards Working Group on Man-Made Fibers and the secretariat of the International Standards Subcommittee on Testing for Dyed Textiles and Dyes, becoming a drafter and publisher of international standards in this field. The international standard project "Test Method for Boiling Water Shrinkage Rate of Chemical Fiber Filaments in Textiles¡±, led by Shenghong, achieved a breakthrough for domestic chemical fiber enterprises in leading the formulation and revision of international standards.

Shenghong implements a "digital transformation and intelligent upgrading" strategy, empowering the manufacturing industry with digital technology. It has independently developed the first intelligent logistics system for production in the chemical fiber industry, filling a gap in China's research and development of intelligent logistics systems for chemical fiber production. The "Shenghong Smart Printing and Dyeing Industrial Internet Platform" has been recognized as a national-level specialized industrial internet platform, while the "Hongyun" smart management platform was launched in 2021.
At the Global Industrial Internet Conference, Shenghong was selected as one of the top ten cases of industrial internet integration and innovation applications. Exploring the construction of a petrochemical smart factory, the automation rate of equipment has increased to over 98%, utilizing 5G multi-dimensional scanning and AI intelligent judgment to achieve 24-hour unmanned inspection of equipment. Shenghong has also built a digital quality inspection laboratory for acrylonitrile, constructing 25 automated workstations, developing and integrating 87 sets of precision analysis and testing equipment, and supporting a fully automated testing system, creating a "lights-out laboratory¡±.

Under the guidance of the "dual carbon" goal, Shenghong adheres to the path of sustainable development and actively explores the whole process along the carbon-reduction path that is "source-process-end", and has been selected in to the China ESG influence list of Fortune for three consecutive years.

In terms of source carbon reduction, the first industrial nuclear energy supply project in China, the Lianyun Port Tianwan Nuclear Power Steam Supply Project, was put into production in June 2024. Shenghong Petrochemical became the first enterprise in the industry to receive and use nuclear steam, marking the official entry of China's petrochemical industry into the era of "nuclear energy supply and steam". At the same time, Shenghong also plans to develop offshore wind power and photovoltaic power generation, with chemical energy storage, to provide stable green electricity for petrochemical processing and production, and build a green petrochemical park.

In terms of process carbon reduction, Shenghong adopts advanced processes, technologies and equipment in the design, construction, production and operation of industrial bases and production devices, so that energy consumption and emissions are better than the national standard and are at the leading level in the industry. All major industrial sectors have achieved full coverage of national "green factories". Shenghong has also taken the lead in implementing key technologies and industries for the low-cost treatment and efficient recycling of printing and dyeing wastewater.

Shenghong¡¯s "chemical" project has significantly improved the utilization efficiency of water resources, and the reuse rate of Chinese water has reached more than 70%, winning the first prize for the progress of textile science and technology in China.

In terms of terminal carbon, Shenghong has completed and put into production a 100,000-ton/year carbon dioxide methanol project, simulated photosynthesis, and designed the carbon dioxide scale in the exhaust gas of the active absorption device to be 150,000 tonnes/year, and indirectly reduced carbon dioxide emissions by 550,000 tonnes/year, which is equivalent to 37,000 hectares of forest. Shenghong has also built the industry's first green negative carbon industry chain project of "carbon dioxide capture and utilization - green methanol - new energy materials (photovoltaic-grade EVA resin, battery-grade EC/DMC)". It has pioneered the engineering technology from carbon dioxide to high-purity ethylene glycol, and innovated to create the world's first low-carbon recycling green industry chain of "carbon dioxide capture and utilization - green ethylene glycol - functional polyester fiber", and won the "International Textile Federation Sustainability and Innovation Award".

In addition, Shenghong has built the world's first complete recycled fiber production line, which can directly recycle waste plastic bottles, convert them into recycled fibers, and finally process them into clothing and footwear. At present, Shenghong's renewable fiber production capacity is 600,000 tonnes/year, and nearly 36 billion waste plastic bottles can be recycled throughout the year, which can reduce carbon emissions by nearly 1.3 million tonnes.