On September 5, the first phase of the construction of Haining Hengyi New Materials Co., Ltd., a subsidiary of Hengyi, has an annual output of 1 million tons of differentiated environmentally friendly functional fibers. The third set of production line C of the “Construction Project” and related supporting projects were successfully put into operation and officially produced qualified products.
Haining Hengyi New Materials Project is committed to creating “Domestic first-class, industry-leading” intelligent chemical factories all adopt full-process intelligent processes and advanced intelligent manufacturing models. The current market response to product sales is good.
In addition, the second phase of Haining Hengyi’s new environmentally friendly high-quality fiber project has officially signed an intention contract. It will also use advanced polyester and spinning equipment and full-process intelligent processes to achieve intelligent Chemical production of environmentally friendly, functional polyester filament.
It is understood that the investment agreement for the project was signed in July 2017 and construction started in May 2018. The first production line G line and the second production line F line of the first phase of the project were successfully put into operation in February and July this year.
On the evening of June 3, Hengyi Petrochemical Co., Ltd. announced that the company’s subsidiary Jiaxing Yipeng Chemical Fiber Co., Ltd. (hereinafter referred to as “Jiaxing Yipeng” “The “500,000 tons/year differentiated functional fiber improvement and transformation project” (hereinafter referred to as the “project”) constructed by .
According to this, Jiaxing Yipeng has a total annual output of 750,000 tons of differentiated functional high-quality FDY production and Operational capability. The first phase of the project, 250,000 tons/year differentiated functional high-quality FDY, was completed and put into operation in April 2019.
At the same time, the 8th PET production unit of Hainan Yisheng Petrochemical Co., Ltd., a shareholder of Hengyi Petrochemical, has been put into operation in June. It is understood that Yisheng Petrochemical has built an annual output of 2.1 million tons. PTA device and PET device with an annual output of 1.5 million tons, and a multi-functional new material project with an annual output of 500,000 tons is under construction, which is the third phase of the PET project.
Yisheng Petrochemical PET Phase III project, with a total investment of approximately 830 million yuan, started construction in December 2018, mainly including the 7th PET production unit and the 8th PET production equipment.
Construct main production equipment, auxiliary production equipment and public engineering facilities. Among them, the main production equipment is 2 sets of 250,000 tons/year bottle-grade polyester basic chip production equipment, supporting 2 sets of 250,000 tons/year solid phase growth equipment. Sticky slice production equipment.
This project focuses on producing multi-functional new polyester material products and optimizing product structure.
Having secured its position as the “boss” of polyester, “Hengyi Speed” is still working hard. What exactly is it going to do?
In just over half a year, the layout of three production lines of Haining Hengyi New Materials and the 500,000-ton FDY production line of Jiaxing Yipeng were completed and put into operation. It must be said that “Hengyi Speed “It’s amazingly fast!
Since 2019, it can be said to be the beginning of a new round of production capacity competition in the polyester industry. On the competitive track, it belongs to the ‘leading race’. Large leading companies are leading industrial investment and launching new projects, which is a distinctive competitive feature of the polyester market in 2019.
Nowadays, we rarely see companies investing in new devices that we have never heard of in the market before. In the round of investment around 2015, new projects in the polyester market were basically in full bloom. Under the market conditions in 2019, the focus of our investment is to see which company is the first to open up its production capacity and who is the leader. At the same time, we need to judge whether the company’s newly put into production capacity truly has a cost advantage, and the cost is determined by comprehensive factors such as technical level, advancement of new equipment, production capacity scale, energy consumption, and integration level.
It is worth noting that in the process of rapid expansion of large leading companies, different companies have highlighted certain differentiated ideas. Among them, Hengyi Group is a typical representative of rapidly expanding the scale of polyester through mergers and acquisitions and restructuring in the capital market.
In this regard, Gao Lili, the financing director of Zhejiang Hengyi Group Co., Ltd., said: “In the past few years, we have been equivalent to re-creating Hengyi. By operating in the capital market, we have quickly gathered The scale of ester production capacity is expanding. Hengyi has always been a leader in the PTA field, with an annual production capacity of 13.5 million tons. However, previously, Hengyi’s annual polyester production capacity was only more than 1 million tons, which was an ‘inverted triangle’. Since Since my country promoted the ‘supply-side structural reform’, Hengyi Group has seized the opportunity to invest in the polyester industry, which has certain technical strength but has lost its capital due to a broken capital chain.Companies in bankruptcy undergo rapid consolidation. In order to acquire and merge suitable projects, in 2017, Hengyi also joined forces with several companies to establish a ‘merger and acquisition fund’. Since 2017, Hengyi has rapidly increased its polyester production capacity by more than 4 million tons through acquisitions and mergers. In this way, Hengyi has achieved expansion at the fastest speed and at the lowest cost. Moreover, some of the polyester factories we acquired still have a lot of land, which has laid the foundation for our continued expansion in the future.
And currently Hengyi Group is gathering in 2018 The ester production capacity has firmly established itself as the “boss”, with a market share of more than 10%, but there is a large gap with the top ten companies. Now that polyester projects continue to be put into production, the companies in the back may not be able to catch up even if they try hard to catch up.
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