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The title of “China’s richest woman” has a new owner. high precision customized steel accessories
According to real-time data from the Bloomberg Billionaires List, on October 13, Fan Hongwei ranked 193rd on the world’s richest list with a fortune of US$8.95 billion, surpassing Wu Yajun, chairman of the board of directors of Longfor Group, to become the richest woman in China.
According to public information, Fan Hongwei was born in 1967 with a college degree and is currently the vice chairman of Hengli Group, the chairman and general manager of Hengli Petrochemical (600346.SH). Her husband, Chen Jianhua, is the chairman and president of Hengli Group. As of the close on October 13, the share price of Hengli Petrochemical was 16.12 yuan per share, down 2.83%, with a total market value of 113.5 billion yuan.
According to Hengli official website information and media reports, Fan Hongwei and Chen Jianhua can be regarded as starting from scratch. “We have used 27 years to realize the development of the whole industry chain from a drop of oil to a piece of cloth.” Fan Hongwei said proudly in the CCTV “Dialogue” column in June 2021. high precision customized steel accessories
01 China’s richest woman changed hands
According to Bloomberg data, on October 13, Fan Hongwei ranked the 193rd richest person in the world with a fortune of US$8.95 billion (about 64.3 billion yuan), surpassing Wu Yajun to become the richest woman in China. Wu Yajun is currently worth $7.91 billion (about 56.9 billion yuan).
According to the 2022 Hurun Global Rich List released in March, Chen Jianhua and Fan Hongwei ranked 11th on the list of China’s richest people with a wealth value of 170 billion, becoming the richest man in Jiangsu.
Hengli Group is headquartered in Wujiang District, Suzhou. According to its official website, the company is an international enterprise developing the entire industrial chain of oil refining, petrochemicals, polyester new materials and textiles. The group now has one of the world’s largest PTA factories, one of the world’s largest functional fiber production bases and weaving companies, with 120,000 employees.
At present, Chen Jianhua and Fan Hongwei actually control two Shanghai-listed companies, Hengli Petrochemical and Songfa (603268.SH), and Tongli Tourism (834199.NQ), a new third-board listed company. There are production bases in Suzhou, Dalian, Suqian, Nantong, Yingkou, Luzhou, Yulin, Huizhou and Guiyang. high precision customized steel accessories
Among them, Hengli Petrochemical is undoubtedly the most important listed company of Hengli Group.
Picture Hengli Group’s bionic and highly differentiated polyester chemical fiber trackless intelligent production workshop, picture source: Xinhua Daily
According to the semi-annual report, the main business of Hengli Petrochemical involves the upstream, mid-stream and downstream business fields of the whole industry chain of refining, petrochemical and polyester new materials. In the first half of 2022, the chemical fiber industry was affected by factors such as rising crude oil costs and weakening terminal demand, the overall profitability of the industry was squeezed, and Hengli Petrochemical was also affected. In the first half of 2022, the company achieved operating income of 119.155 billion yuan, a year-on-year increase of 13.94%. However, the net profit attributable to the parent company has declined to about 8.026 billion yuan, a year-on-year decrease of 7.13%.
On the other hand, the debt pressure faced by Hengli Petrochemical is also worthy of attention. As of the end of June 2022, Hengli Petrochemical’s short-term borrowings reached 68.255 billion yuan, non-current liabilities due within one year reached 7.101 billion yuan, while monetary funds were about 25.578 billion yuan, and the current ratio was 0.68. high precision customized steel accessories
In order to ensure the diversification of financing channels and meet the needs of business operation capital turnover, Hengli Petrochemical announced that it will issue short-term financing bills of no more than 3 billion yuan. Since June, two short-term financing bills totaling 2 billion yuan have been issued. At present, Hengli Petrochemical is promoting the layout of new materials and new energy industries, aiming to create a “second growth curve”. It is expected that related projects will be gradually put into production in 2023.
02 Women Entrepreneurs From Textile Mill Accounting to Petroleum Refining
Located at the southernmost tip of Jiangsu, Shengze Town, Wujiang District, Suzhou, has been known as the “Silk Capital” since ancient times because of its “sunrise of 10,000 horses and quilts in the world”. Today, there are more than 6,000 silk merchants gathered here, and the world’s top 500 such as Hengli have also been born.
According to Red Star News previously citing Hengli official website information and media reports, Fan Hongwei and her husband Chen Jianhua started from scratch and expanded from the downstream of the industrial chain (textile) to the upstream petrochemical field. high precision customized steel accessories
When he was young, Fan Hongwei was an accountant in a textile factory in Suzhou; Chen Jianhua was an ordinary trader, dealing in chemical fibers and raw silk. After the two got married, they started their business. In the 1990s, a collective weaving factory in Nanma Town, Suzhou was on the verge of bankruptcy. In 1994, the husband and wife purchased the factory for 3.69 million yuan, becoming the first batch of private entrepreneurs in Wujiang, and began the entrepreneurial process of the industrial platform.
After the two took over the factory, they carried out a series of measures to expand production, eliminated shuttle looms, and introduced 1,200-spindle network cars. By 1995, the company’s raw material outsourcing looms had grown from 100 to more than 600, and the family-type looms were located in seven towns and towns in Jiangsu and Zhejiang.
In 2003, the two established Hengli Group. In 2007, Hengli Group’s annual output of 200,000 tons of ultra-bright silk project was officially put into operation, filling the gap in the domestic high-end glossy yarn production field, and opened up the medium and high-grade glossy yarn market that has been monopolized by foreign countries. The following year, Hengli Group entered the “Top 500 Chinese Enterprises” list for the first time, ranking 407th.
According to the official website, Hengli Group’s total revenue in 2021 is 732.3 billion yuan, and it is now ranked 75th in the world’s top 500, 24th in China’s top 500 enterprises, and third in China’s top 500 private enterprises (the first two are JD.com and Alibaba Group). Baba), 5th among the top 500 Chinese manufacturing enterprises. high precision customized steel accessories
03What makes Hengli Group?
First of all, it is inseparable from the cornerstone position of the manufacturing industry. What Hengli Group is doing is the real economy, and it has indeed created products. The state has given great support to this industry, and the policy is also a green light, which has created a better environment for the development of the manufacturing industry.
The second is to adhere to high standards, strict requirements, and high requirements for product quality. The maintenance of the brand is more important, and the integrity and credibility are obvious to all at home and abroad. Hengli Group has a craftsmanship spirit and sticks to the bottom line for ten years.
The continuous pioneering and enterprising spirit is the guarantee for the vigorous vitality of Hengli Group. To stand still is to fall behind, especially in the market. Hengli Group is striving to improve its business chain, and its industrial advantages will become more and more obvious.
Good companies get better, and the snowball effect applies here. After all, the victory of a slanted sword is not as good as the accumulation of the general trend in an upright manner. Maybe this speed will not be fast, but it is the most stable. Hengli Group is taking such a path. It is not disturbed by the hustle and bustle of the outside world. It sinks its heart to manage its own brand, and has a clear understanding of the development direction of the company.
In every era, there will always be someone taking advantage of it. Only with the correct values and corporate reputation can companies not be afraid of any challenges. Enterprises need to make continuous progress. The past does not represent the future. You must be in awe at all times in order to continue to be popular. high precision customized steel accessories