Honggang Petrochemical
A petrochemical subsidiary of Shenghong Group (Dongfang Shenghong, SZ:000301) that produces purified terephthalic acid (PTA) and PETG polyester materials for textiles, packaging, and specialty applications.
- CEO / Founder
- Guo Bangli (郭榜立)
- Team Size
- 501-1000
- Stage
- Active
- Total Funding
- Undisclosed
- Latest Round
- Acquired
- Key Investors
- Shenghong Group (parent); Dongfang Shenghong Co., Ltd. (SZ:000301, listed parent)
Technology & Products
Key Products
Purified Terephthalic Acid (PTA) — annual capacity of 390,000 tons (Phase I: 150万吨, Phase II: 240万吨); PETG (Polyethylene Terephthalate Glycol) — 130,000 tons/year capacity, launched January 2024; CHDM (1,4-Cyclohexanedimethanol) — 50,000 tons/year capacity
Technological Advantage
Self-developed PETG production technology with 13 patents and full IP ownership; uses most advanced international PTA production technology; integrated feedstock supply from Shenghong Group's upstream refining and PX/EG units; national-level "Green Factory" and Jiangsu Province Green Environmental Credit Enterprise
Differentiation
Value Proposition
Large-scale integrated PTA production as a key link in Shenghong Group's full petrochemical-to-textile value chain, with proprietary PETG technology that broke foreign monopoly and achieved China's largest domestic production capacity.
How They Differentiate
Part of the world's 171st-ranked Fortune Global 500 enterprise (Shenghong Group); fully integrated from crude oil refining to polyester fiber; proprietary PETG technology with 13 patents; China's largest PETG production capacity; national-level "Green Factory" certification
Market & Competition
Target Customers
Polyester fiber manufacturers, textile companies, PET resin producers, packaging material manufacturers, and specialty polyester downstream processors
Industry Verticals
Textiles; Packaging; New Materials; Petrochemicals
Competitors
Hengli Petrochemical (恒力石化); Rongsheng Petrochemical (荣盛石化); Zhejiang Yisheng Petrochemical (浙江逸盛石化)
Growth & Milestones
Major Milestones
2011-03: Company founded; 2014-05: Phase I 150万吨/year PTA plant commenced production; 2019-05: Phase II 240万吨/year PTA project started construction; 2021-02: Phase II PTA plant completed and operational; 2023-12: 130,000 tons/year PETG plant successfully commissioned; 2024-01: PETG plant officially launched, making Honggang China's largest PETG producer; 2024: Phase III 240万吨/year PTA project under construction (~¥3.94B investment)
Notable Customers
Guowang Gaoke Fiber (国望高科, sister company within Shenghong Group); various polyester fiber and textile manufacturers in East China