Tong Kun Hao Hao 991 Million Launched The Four Phase Project In Changxin, Huzhou, Earning 2.49 Net Income Every Year.

The Limited by Share Ltd, the leading enterprise in China's polyester filament manufacturing industry (hereinafter referred to as "Tong Kun"), announced in the evening of February 13th that, taking into account the company's subsequent development, and optimizing the allocation of resources in order to enhance the profitability of the enterprises in the future, considering the market demand for textile products, the board of directors decided to launch the four phase project.

Reporters read the announcement that the four units of the Heng Teng project were Zhejiang Tong Teng Differential Fiber Co., Ltd., with a total investment of 991 million yuan (equivalent to US $150 million), of which 926 million yuan was invested in construction (including 104 million US dollars in foreign exchange), 28 million 500 thousand yuan in construction interest, and 36 million yuan in liquidity.

The sales price of Heng Teng four phase project is determined according to the actual sales situation of the market and enterprises. The annual operating income is estimated at 2 billion 974 million yuan, the value-added tax of the year of production is 76 million 515 thousand yuan, and the business tax and the additional estimate is 7 million 652 thousand yuan.

It is estimated that the total profit of the normal year is 249 million yuan, and the profit after tax is 187 million yuan.

The income tax is calculated on the basis of 25% of the total profit, and the surplus provident fund is calculated according to 10% of the after tax profits.

The hang Teng four phase project will provide more than 850 posts for post employment, which will play a positive role in broadening the space for employment and employment, promoting regional economic development and promoting the pformation and upgrading of Huzhou and Changxing County's textile and chemical fiber industry.

The reporter noted that the four phase of the project is located in the south of Zhejiang province Huzhou Taihu industrial agglomeration area, the Changxin area of the Heng Teng company now has 11.32 mu of new land expropriated on the northeast side of the factory site, and the use of the existing land 94.3 mu, the new factory area to organize and implement.

The west side of the new factory area and the south side are the existing plant of Heng Teng company, the east side is 104 National Road, and the north side is farmland.

The bulletin shows that the Changxin District of Zhejiang Huzhou Taihu industrial agglomeration area is located in the southwest of Li Jiaxiang Town, where the hang Teng four phase is located. The town of Li Jiaxiang is a major industrial town in Changxing County, and is one of the most developed towns in Changxing County.

There are 104 National Road, 318 National Road, Xuan hang railway, Hangzhou long railway, Hangzhou Ningxia expressway, Shensu Zhejiang Anhui Expressway, Yang Jiapu port and so on. It is about 9 km away from the central city of Changxing County, about 12 km away from the downtown area of Huzhou, and 1.5 hour traffic circle with large cities such as Hangzhou, Shanghai and Nanjing.

The hang Teng four phase project uses 94.3 mu of original land and 11.32 acres of additional land, and plans to build 99337 square meters of new polyester workshop and spinning workshop. 1 sets of polyester production plant are set up. The 672 sets of high speed FDY winding machines, 4 automatic packaging lines, 14 automatic winding wires, and auxiliary production equipment and utility production equipment with auxiliary sets are introduced. The production capacity of annual output of functional differential green fiber 300 thousand tons is achieved by adopting large capacity flexible polymerization, polyester melt direct spinning, intelligent and green production technology.

Tong Kun shares said that the implementation of the four Teng project will help enterprises to enhance their market competitiveness and achieve sound and rapid development. It is also in line with the "anti cyclical development" idea of Tong Kun group, which is conducive to saving investment costs and maximizing investment returns.

Reporters learned that Tong Kun shares are the leading enterprises in China's polyester filament manufacturing industry, ranking the first in production and sales in China.

In the first half of 2018, polyester polymerization capacity was 5 million 200 thousand tons, polyester filament production capacity was 5 million 400 thousand tons, the market share was over 14%, and the international market share was 10%.

The predecessor of the company was Tongxiang chemical fiber factory established in 1982 and listed on the Shanghai Stock Exchange in May 2011.

The main business of Tong Kun shares includes the production and sale of all kinds of civilian polyester filament, and the production of PTA (terephthalic acid), one of the main raw materials of polyester filament.

The polyester filament products produced by the company include four series of more than 1000 series, including polyester filament DTY series, polyester filament FDY series, polyester filament POY series, polyester filament composite yarn series, and so on, which are called "WAL-MART in polyester filament industry".

Data show that in the first three quarters of 2018, Tong Kun shares achieved an operating income of 30 billion 865 million yuan, an increase of 32.44% over the same period last year. The net profit attributable to all the owners of the company was 2 billion 503 million yuan, up 118.16% over the same period last year. The industry said that in the first three quarters of 2018, the price of the polyester filament yarn of the main products of Tong Kun shares continued to rise and the price spread went up, and the gross margin level rose steadily.

It is understood that in the first three quarters of 2018, the gross profit margin of Tong Kun shares increased by 16.50% over the same period last year, reaching a record high.

The main products of pre oriented yarn, drafting yarn and elastic yarn are relatively close to the gross profit margin, all of which keep growing.

The industry believes that under the background of supply side reform, the supply and demand structure of the industry has improved significantly, while the gross profit margin of Tong Kun shares is expected to continue to maintain at a relatively high level.