According to 10jqka reported on August 14, 2024, that Hengli Group is considering spinning off its shipbuilding business for listing in Hong Kong, and is currently in discussion with financial advisors to raise US$100 million (equivalent to about HK$780 million), but the discussion is still at a preliminary stage. HLG declined to respond.
Founded in 1994, Hengli Group is a large-scale private enterprise with business covering a wide range of fields including oil refining, petrochemicals, polyester new materials and textiles. The group has one of the world’s largest PTA plants in terms of production capacity, one of the world’s largest production bases for functional fibers and one of the world’s largest weaving companies, with a total revenue of RMB 817.7 billion (US$114.2 billion) in 2023 and ranked 123rd among the world’s top 500 companies.
Hengli Heavy Industry Group is the branch of Hengli Group in the shipbuilding industry, specializing in the manufacture of high-end ships and offshore equipment.
Hengli Group has achieved cross-industry development by establishing Hengli Heavy Industry Group, expanding its business to the field of shipbuilding. Relying on the capital strength, technical advantages and industrial chain resources of Hengli Group, Hengli Heavy Industry Group is committed to building a modernized, intelligentized and green ship and offshore equipment manufacturing base, to promote the development of China’s ship manufacturing industry in the direction of high-end, intelligentized and green.
In terms of the company’s shipbuilding orders, Hengli Heavy Industry has successively taken orders for more than 60 new ships in a year and a half since it went into operation at the beginning of 2023. As of June 17, 2024, its hand-held orders totaled 66 ships of 8.31 million dwt, with deliveries scheduled until 2027. Clarkson’s data shows that in terms of hand-held orders for bulk carriers, Hengli Heavy Industry ranked first globally with 44 82,000 dwt kamsarmax bulk carriers, edging out TSUNEISHI HEAVY INDUSTRIES (Cebu) of the Philippines (41) and Jiangsu New Hantong Ship Heavy Industry (40).
Since the beginning of this year, Hengli Heavy Industry has been focusing on the high-end ships, and the construction of the independently researched and designed vlcc has been started in January this year. With the in-depth implementation and gradual effect of the latest RMB 9.2 billion investment project, Hengli Heavy Industry (Dalian Changxing Island) Industrial Park is expected to become a bright pearl in the field of China’s shipbuilding and offshore equipment manufacturing, and make positive contributions to promoting China’s progress from a large manufacturing country to a strong manufacturing country.
