Firm belief, forging strengths, and moving towards greenery
Steadily advancing on the track of high-quality development
The year 2024 is a year of change. The external environment is constantly shifting, with international situations fluctuating, structural changes emerging in the domestic consumer market, and rapid advancements in technology. At the same time, against the backdrop of a trend towards green and low-carbon transformation, societal demands for high-quality development from enterprises are gradually increasing. Jiangsu Eastern Shenghong Co., Ltd. (hereinafter refer to “the Company”, situated in the basic and pillar petrochemical industry of the national economy, faces numerous challenges. The Company adheres to a resilient spirit and foundational confidence, upholding the value concepts of "safety, integrity, innovation, and transcendence." Through governance and technological innovation, the Company strive to achieve stable, healthy, and sustainable development, continuously innovating in fields such as new energy, new materials, and carbon dioxide comprehensive utilization, promoting the industrial chain towards high-end, intelligent, and low-carbon development, contributing to high-quality industrial growth and stable national industrial growth.
This year marks the Company’s strides in expanding its industrial footprint. Products such as PETG, nitrile latex, and EC/DMC have successfully launched in one go; new chemical materials projects like POSM and polyol units have all been put into operation; photovoltaic-grade EVA has added 200,000 tons of capacity, bringing the total capacity to 500,000 tons/year, further enhancing scale advantages. The Company thoroughly implements the “1+N” development strategy, broadly expanding its layout, and focusing on various requirements for developing new quality productive forces, relying on a 'coal-based, oil-based, gas-based' large chemical platform to continuously improve its industrial and product chains in the new energy and new materials field, actively adhering to the requirements for developing new quality productive forces.
This year documents the Company’s innovative practices in climbing to new heights. The Company has built the world’s first 'from carbon dioxide to polyester fiber' industrial chain and has been awarded the 'International Textile Manufacturers Federation Sustainable and Innovation Award'; its composite fiber melt-blown technology has received the first prize for technological advancement from the China Textile Federation; Jiangsu Sierbang Petrochemical Co., Ltd. has been recognized as a “manufacturing industry champion enterprise” by the Ministry of Industry and Information Technology; the PDH intelligent factory project of the Jiangsu Shenghong Petrochemical Industry Group Co., Ltd. won the “2023 Most Influential Engineering Project in the Field of Automation in China”; and Suzhou Suzhen Bioengineering Co., Ltd. has established an innovative R&D center for bio-based new materials. Moreover, the Company has affiliated centers like the National Advanced Functional Fiber Innovation Center, Shenghong Petrochemical Innovation Center, and Shenghong Advanced Materials Research Institute, actively building innovation platforms to enhance key core technology breakthrough capabilities and cultivating the development of 'new quality productive forces.' Led by the 'government + leading enterprise' cooperation model, the national demonstration zone project of the new material pilot base in the eastern, central, and western regions is under planned construction. Once completed, this project will accommodate 20 chemical pilot projects simultaneously, assisting the nation in overcoming critical technological bottlenecks in the chemical field. The Company insists on deeply empowering through technological innovation and intelligent application, consolidating the foundation for high-quality enterprise development, implementing innovation platforms across various industry sectors, enhancing key core technology breakthrough capabilities, and promoting the integration of the 'three chains' of innovation, industry, and talent, innovatively creating the 'Shenghong model' for the transformation and upgrading of manufacturing.
This year has written vivid stories of the Company’s green and low-carbon transformation. The Company explores the path of whole-process carbon reduction. Jiangsu Shenghong Petrochemical Industry Group Co., Ltd. signed a cooperation agreement with Jiangsu Nuclear Power for clean power supply, becoming the industry’s first enterprise to receive and utilize nuclear power steam; Jiangsu Reborn Technology Co., Ltd. has been included in the first batch of carbon peak and carbon neutrality pilot projects in Jiangsu Province; the Company continuously enriches its green product system, launching the 'reocoer' carbon capture fiber brand, and the brand influence of 'Reborn' recycled fibers has further expanded. Upholding the new development philosophy of innovation, coordination, green development, openness, and sharing, the Company insists that new quality productive forces equate to green productive forces, deeply engaging in green technology through comprehensive efforts in low-carbon, zero-carbon, and negative-carbon and opening pathways for the industry’s green and low-carbon transformation through technological breakthroughs.
Currently, the industry is undergoing a transformation phase, and the Company is closely following national policy directions, leading industrial development trends, and seeking certainty amidst change. The 2024 Economic Work Conference specifically deployed initiatives regarding "new quality productive forces" and "comprehensive green transformation." The Company firmly grasps the trends of high-end, intelligent, and low-carbon development, seizes opportunities, and promotes industrial transformation and upgrading. The Company accelerates the construction of high-end deep processing industrial chain projects, expands products with high added value and high technical content; advances the construction of intelligent factories, employing technologies like artificial intelligence to establish a high efficiency, high quality, low-cost operational system, reducing energy consumption and raw material waste while enhancing safety production risk management capabilities. Simultaneously, the Company seizes development opportunities to "create a healthy development ecosystem for the green low-carbon industry," building a green low-carbon industrial chain to forge a new path for green development.
In the face of a severe and complex external environment, the Company remains calm and upholds the "Spirit of Shenghong," characterized by an "unquenchable spirit of progress," a "never-say-die spirit of struggle," and a "perpetual spirit of innovation." Faced with constantly evolving industry trends, we adapt flexibly, daring to step outside comfort zones, explore new models, and venture into new arenas. In the face of increasingly fierce market competition, the Company is gearing up, continuously building cost competitiveness, technological innovation capability, and brand influence, steadily making strides toward the goal of becoming a “world-class enterprise with global competitiveness.”
