- Business
- Rongsheng Petrochemical Co., Ltd. (002493.SZ) engages in the production and sale of petrochemical products in China. The company manufactures purified terephthalic acid (PTA), polyester chips, polyester filament yarn, and polyethylene terephthalate (PET) bottle preforms; provides paraxylene (PX), crude oil processing, and refining services; and offers polyester staple fiber, acrylic fiber, polyvinyl alcohol fiber, and related downstream textile materials. Rongsheng Petrochemical operates primarily in the petrochemical and refining sectors, serving domestic and international markets with a focus on synthetic fibers and plastics for textiles, packaging, and industrial applications.
Founded in 1999 and headquartered in Hangzhou, Zhejiang Province, China, the company maintains integrated production facilities across eastern China, including major plants in Ningbo and Zhoushan, with capabilities exceeding 13 million tons annually in refining capacity. Its operations span PTA production, polyester manufacturing, crude oil refining, and sales of petroleum products such as gasoline, diesel, and jet fuel, supported by strategic port access for imports and exports. Rongsheng Petrochemical targets textile manufacturers, packaging firms, and energy distributors, with subsidiaries handling trading, logistics, and international trade.
In recent developments, Rongsheng Petrochemical expanded its refining capabilities through the 2023 completion of the 16 million-ton/year Zhoushan Green Refining and Chemical Integration Project, marking a major strategic shift toward integrated upstream refining and downstream petrochemicals. The company secured significant funding in 2024 via bond issuances and bank facilities to support project ramp-up and debt restructuring amid industry volatility. Additionally, it formed partnerships with international oil suppliers for stable crude imports and launched enhanced PTA and polyester products optimized for sustainable applications in 2025.