Recently, JSBC has begun to air a special report series on the development of the private economy in Jiangsu province. In today’s report, we will show you Sheng Hong Group, one of the world's largest suppliers of microfiber and memory fiber.
In the spinning workshop of Shenghong Group, the machines are operated by the intelligent spinning equipment rather than the workers as is the case with the traditional textile assembly lines.
Since the beginning of this year, Shenghong has posted more than 100 billion yuan of annual operating income against the intensifying Sino-US trade friction and the increasing downward pressure on the economy, thanks to its intelligent transformation of the chemical fiber production line.
Shenghong Group has established a manufacturing innovation center to promote the improvement of the industry's intelligent manufacturing capability. In recent years, relying on its continuous innovation, Shenghong has opened up a new road in a field of fierce competition and developed the world's first production line with an annual output of 250,000 tons of fully extinction melt direct spinning, which has now occupied a 90%market share.
Shenghong has also led the development of the international standard project "the test method for shrinkage of textile chemical fiber filament boiling water, achieving a breakthrough in the developing and revising of international standards by Chinesechemical fiber enterprises.
Shenghong has attributed its success of becoming one of the world's largest suppliers of microfiber and memory fiber in a short period of time to the continuous innovation and the help and support of the governments at all levels.
In 2010, Shenghong Group actively extended the industrial chain from Suzhou to Lianyungang where it launched a new petrochemical industry cluster by taking advantage of Lianyungang’s advantages in transportation location and industrial policy. Investing more than 30 billion yuan, the petrochemical projects are able to turn out annual output of 1.5 million tons of PTA.
Shenghong's refining and chemical integration project in Lianyungang was included in one of the 16 major projects at the provincial level. Today, Shenghong has developed into an innovative high-tech industrial group with petrochemical, textile and energy as its main business with more than 30,000 employees. In 2018, it is placed the 156th among the top 500 Chinese companies, and 38th among the top 500 private enterprises in China.
(Source: ourjiangsu.com)
