Hengli Group

Hengli Group
Company typePrivate
SSE: 600346
SSE: 603268
NEEQ: 834199
Industrypetrochemicals, textiles
Founded1994; 31 years ago (1994)
FoundersChen Jianhua and Fan Hongwei
Headquarters
Suzhou
,
China
Area served
Worldwide
Key people
Chen Jianhua (chairperson)
RevenueUS$114.7 billion[1] (2024)
Number of employees
173,250[1] (2024)
Websitehengli.com
Hengli Group
Traditional Chinese恆力集團有限公司
Simplified Chinese恒力集团有限公司
Literal meaningConsistent-Energy Group Company Limited
Transcriptions
Standard Mandarin
Hanyu PinyinHéng lì jítuán yǒuxiàn gōngsī
IPA[xə̌ŋ.lî]

The Hengli Group (Chinese: 恒力集团, KHUNG-lee) is a Chinese company active in oil refining, petrochemicals, polyesters and textiles. It operates the world's largest terephthalic acid (PTA) factory.[2]

Hengli was founded in Suzhou as a weaving factory in 1994 by husband and wife Chen Jianhua and Fan Hongwei.[3]

One of the world's largest companies, Hengli was ranked 67th in the Fortune Global 500 for 2021, and 3rd on a list of China's top 500 Private Enterprises.[4][5][6]

It is described as "focused on energy efficiency in both their products and processes."[7][8]

In 2020, environmentalists criticised the Hengli Group's plans to begin manufacturing plastics from coal.[9]

In 2021, the company was criticised for seeking only male candidates for positions as drivers in Guizhou.[10]

Subsidiaries

Three subsidiaries are publicly traded:

  • Hengli Petrochemical Co., Ltd., (“Hengli Petrochemical Co., Ltd.” Stock Code: 600346.SH)
  • Guangdong Songfa Ceramics Co., Ltd. ("Songfa INC." Stock Code: 603268.SH)
  • Suzhou Wujiang Tongli Lake Co., Ltd. (“Tongli Tourism” Stock Code: 834199.OC)

Hongli has production bases in Suzhou, Dalian, Suqian, Nantong, Yingkou, Luzhou, Yulin, Huizhou and Guiyang.[11]

References

  1. ^ a b "Fortune Entry". Fortune. Fortune Magazine. Retrieved 6 March 2024.
  2. ^ "China's private chemical giant Hengli wins approval for crude oil quota". Reuters. April 20, 2018 – via www.reuters.com.
  3. ^ "China's Hengli makes bold $20 billion bet to spin coal into fabric". Reuters. July 29, 2020 – via www.reuters.com.
  4. ^ "Hengli Group | 2021 Global 500". Fortune.
  5. ^ "China's Hengli makes bold $20 billion bet to spin coal into fabric". Reuters.
  6. ^ Yu, Cheng (27 September 2021). "China 'is a leader in 4th industrial revolution'". global.chinadaily.com.cn. Retrieved 2024-01-13.
  7. ^ Jia, Hepeng (12 January 2022). "China's chemical makers will gain from low-carbon policies (in C&EN's World Chemical Outlook 2022)". Chemical & Engineering News. Retrieved 2024-01-13.
  8. ^ Xinhua, News Agency (February 10, 2022). "Fortune Global 500 company to build polyester industrial park in northeast China". www.macaubusiness.com. Retrieved 13 January 2024.
  9. ^ Mowbray, John (29 July 2020). "China textile giant to make polyester from coal". Ecotextile News.
  10. ^ Tone, Sixth (January 22, 2021). "Women's Federation Slams Fortune 500 Company's Sexist Hiring Ad". #SixthTone.
  11. ^ "Hengli Group-Who we are-Our company". www.hengli.com.

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