Rongsheng Further Expansion: Shares In Zhejiang Oil Center, The Petrochemical Project Was 50 Billion Financing By Agricultural Bank Of China

Recently, a company named Zhejiang international oil and gas trading center Limited (hereinafter referred to as "Zhejiang oil center") has undergone industrial and commercial changes recently. Zhejiang Rongsheng Holding Group Co., Ltd. (hereinafter referred to as "Rongsheng group") is a shareholder.

Business information shows that Zhejiang oil center currently has four shareholders, namely, Zhejiang Rongsheng Holding Group Co., Ltd., Zhoushan ocean industrial agglomeration area construction (Group) Co., Ltd., Zhejiang Zhongnan petrochemical energy Co., Ltd. and Zhejiang products Industrial Holdings (Group) Co., Ltd.

The shareholding ratio and subscribed amount of the four shareholders have not yet been informed.

　　 Among the four shareholders, Rongsheng group is the latest shareholder.

In November 11, 2019, Zhoushan Zhejiang oil investment management partnership (limited partnership) withdrew from the shareholders of Zhejiang oil center. On the same day, Rongsheng group was added to Zhejiang oil center shareholder.

The other three shareholders of Zhejiang oil center are Zhoushan marine industrial agglomeration area (Group) Co., Ltd., Zhejiang Zhongnan petrochemical energy Co. Ltd., and Zhejiang products Industrial Holding Group Co., Ltd.

Among them, Zhoushan marine industrial cluster development and construction (Group) Co., Ltd. has three shareholders, namely, Zhejiang Zhoushan archipelago Marine Industrial Agglomeration Area Management Committee, state open development fund Co., Ltd. and Jianxin Trust Co., Ltd., holding 85.33%, 14% and 0.67% respectively, and the subscribed capital contributions are 1 billion 280 million yuan, 210 million yuan and 10 million yuan respectively. China open development fund Co., Ltd. is a wholly owned subsidiary of China Development Bank. Jianxin Trust Co., Ltd. holds 67% stake by China Co truction Bank Corp.

　　 Zhejiang Zhongnan petrochemical energy Co., Ltd. is a wholly owned subsidiary of Zhejiang Zhongnan Holding Group Co., Ltd., with a shareholding ratio of 100%, with a total investment of 100 million yuan. Zhejiang Zhongnan Holding Group Co., Ltd. has two shareholders, respectively, Wu Jianrong and Shi Fengxiang, the shareholding ratio is 90% and 10% respectively, the subscribed capital contribution is 135 million yuan and 15 million yuan respectively.

　　 Zhejiang products Industrial Holdings (Group) Co., Ltd. is a wholly owned subsidiary of Zhongda Group Limited by Share Ltd, with a shareholding ratio of 100%, with a total investment of 500 million yuan. Zhongda Group's official website shows that the company has been reorganized into a group company since 1996, with more than 390 member companies and nearly 20 thousand employees. In 2015, the reform of the mixed ownership system was completed and the overall listing was completed.

　　 Business information shows that the Zhejiang oil center was established in May 12, 2015 with a registered capital of 100 million yuan. Its business scope includes the provision of oil and its derivatives, natural gas, chemical raw materials and products (except monitoring chemicals, fireworks, civilian explosives, precursor chemicals) bulk commodity trading platform services.

Zhejiang oil center's official website shows that the company was founded in May 2015, and is jointly led by the world's top 500 and Zhejiang provincial state-owned listed companies, Zhongda Group and Zhoushan municipal government. It is the only trading place in Zhejiang that specializes in petrochemical products trading services approved by the people's Government of Guangdong Province. As an undertaking body for the construction of international oil trading center in the development plan of "one center, three bases and one demonstration area" in Zhejiang free trade pilot area, Zhejiang oil center actively plans innovation development and actively integrates into the national strategy.

In addition, the official website of Rongsheng group shows that Rongsheng Petrochemical has presented the progress of the 40 million ton / year refinery and chemical integration project of Zhejiang Petrochemical Company to the international oil traders at the third world oil merchants conference held in October 17th. At this conference, there were 5 contracts signed by the Zhejiang Petrochemical Project, involving an amount of 30 billion 818 million yuan.

Business information shows that Zhejiang Petrochemical Co., Ltd. registered capital of up to 33 billion 800 million yuan, was founded in June 18, 2015, shareholders are Rongsheng Formosa Petrochemical Co, Zhejiang Juhua Investment Co., Ltd., Zhejiang Tong Kun investment limited liability company, Zhoushan ocean Comprehensive Development Investment Co., Ltd. The shareholding ratios of the four shareholders were 51%, 20%, 20% and 9% respectively, and the subscribed contributions were 19 billion 788 million yuan, 7 billion 760 million yuan, 7 billion 760 million yuan and 3 billion 492 million yuan respectively.

　　 Zhejiang Petrochemical Company Limited is responsible for the 40 million ton / year refining and chemical integration project, which is controlled by private enterprises and participated by the state. It is a key project of China's energy system reform and structural reform of supply side. It is known as the largest investment project of Chinese private enterprises in history, and the total investment of the project is 173 billion yuan.

　　 Rongsheng group was founded in 1989. Now it has developed into a modern enterprise group with petrochemical, chemical fiber, real estate, financial investment and other industries. It ranks 143rd among the top 500 Chinese enterprises, thirty-third of the top 500 private enterprises in China, and second of the top 100 private enterprises in China's petroleum and chemical industry. At present, the group has a number of listed companies, such as Rongsheng Petrochemical (Stock Code: 002493), Ningbo Union (stock code 600051) and so on, and the listing industry involves petrochemical, real estate and other fields.

It is understood that Rong Sheng Conghua fiber industry development, along the industrial chain to the upstream development. The main production bases are Zhejiang Xiaoshan headquarters, Zhejiang Ningbo, Liaoning Dalian, Hainan Yangpu and Zhejiang Zhoushan. At the same time, the company paid cash to acquire the 70% stake of Yongsheng film and Ju Xing Chemical fiber held by Rongsheng holdings, and increased the production base of Shaoxing in Zhejiang.

Among them:

1, polyester filament: mainly for Xiaoshan (including Sheng Yuan chemical fiber), polyester polyester production capacity of 1 million 100 thousand tons / year, of which FDY50 million tons / year, DTY40 million tons / year, supporting POY30 million tons / year.

2, PTA: Zhejiang Yisheng Petrochemical (30% stake, 5 million 500 thousand tons / year PTA), Yisheng (59.2% equity, 5 million 950 thousand tons / year PTA), Hainan Yisheng (42.5% equity, 2 million 100 thousand tons / year PTA, 1 million 500 thousand tons / year polyester chip). The main body of the joint venture with Hengyi petrochemical company has a total capacity of PTA1355 million tons / year, with an equity capacity of 5 million 800 thousand tons / year.

3, PX: a wholly owned subsidiary of Sinopec, Ningbo, with low-cost fuel oil as raw material, currently has PX160 million tons / year, pure benzene 500 thousand tons / year, the remaining chemical light oil, liquefied petroleum gas, sulfur, asphalt and other by-products.

4, oil refining and ethylene: with the holding of 51% Zhejiang petrochemical as the main body, 40 million tons / year oil refining, 140+280 million ton / year ethylene project will be implemented step by step; the first phase of 20 million ton / year refinery +140 million tons / year ethylene is expected to be put into operation in 2019.

5, the new acquiring company: Yongsheng film 70% stake, has 200 thousand tons / year BOPET capacity; Zhejiang poly Hing Chemical fiber 70% equity, is being revamping 200 thousand tons / year differential fiber.

By 2020, 200 billion yuan of business revenue and 20 billion yuan of profits and taxes were the operating objectives of Zhejiang Rongsheng group on the official website.

　　 In order to provide financial support for expansion, Rongsheng frequently holds financial institutions.

Rong Sheng official website shows that in August 15th, the Rongsheng group group and the Xiaoshan rural commercial bank Party committee alliance signing ceremony was held, and the agricultural business bank president Li Caie gave the 3 billion letter of credit to the group vice president.

In October this year, Rongsheng Group signed a comprehensive strategic cooperation with Minsheng Bank. The two sides established a strategic partnership and entered a new stage of comprehensive cooperation between banks and enterprises.

In November 22nd, Rongsheng Petrochemical announced that the company's public offering for qualified investors was no more than RMB 4 billion yuan. The green corporate bonds had been granted by the Securities Regulatory Commission of China, and the company issued the green bonds in 2019 for qualified investors (phase I). The scale of issuance was not more than 1 billion yuan, and finally the coupon rate of the bonds was 5.42%.

According to the official media Yueqing Daily reported on November 13th, at the world Zhejiang merchants conference, the Zhejiang branch of the Agricultural Bank of China gave the Zhejiang Petrochemical Company 40 million tons / year refining and chemical integration project a total of 50 billion yuan of intentional financing during the subsequent construction period, which is also the largest contract item on the first day of the world's Zhejiang merchants convention.