Sinopec Yizheng Chemical Fiber Company Limited (hereinafter referred to as Yizheng Chemical Fiber Company Limited) and Sinopec Assets Management Corporation Yizheng Branch (hereinafter referred to as Assets Management Corporation Yizheng Branch), have been collectively called as “Yihua”, which locates in Yizheng City, Jiangsu Province, covering 10 square kilometers. Formerly known as Yizheng Joint Corporation of Chemical Fiber Industry, it was prepared to be constructed in 1978 and established in 1981. In 1993, following the stock system restructuring, the company was reorganized into listed part and non-listed part. In 1997, Yihua wholly joined in China East United Petrochemical Group Corporation. And then in 1998, along with DongLian Petrochemical Group Corporation, Yihua joined integrally in the China Petrochemical Corporation (Sinopec Group). In 2000, the listed part changed its name into Sinopec Yizheng Chemical Fiber Company Limited, a holding subsidiary which was owned and controlled by China Petroleum and Chemical Corporation (Sinopec Corp). In November 2006, the non-listed part carried out its system transformation and altered its name into Sinopec Assets Management Corporation Yizheng Branch.
Yihua was a major construction project during the PRC’s 6th to 10th Five-Year Plans period, whose production facilities were imported from Germany, Japan, Italy and France, etc. The company’s technology has reached an advanced level in the polyester industry through continuous technological innovation and improvements. Yihua is primarily engaged in the production and distribution of polyester chips and polyester fiber and production of its raw materials purified phthalic acid (“PTA”). Its main products incorporate fiber-grade polyester chips, film-grade polyester chips, bottle-grade polyester chips, polyester staple fiber, polyester hollow fiber and polyester filament, as well as ultrahigh molecular weight polyethylene filament. The quality system of the company’s products received an international certificate in respect of ISO9001 (2008), and also received an international certificate in respect of ISO14001 (2004) environmental management system. At present, Yihua owns two PTA facilities with an annual capacity of 1 million tons, polymerization facilities with an annual capacity of 1.7 million tons, fourteen polyester production lines, five production lines of bottle-grade polyester chips, twenty-six production lines of polyester staple fiber, twenty-one production lines of polyester filament and two dry-spinning facilities of ultrahigh molecular weight polyethylene filament with an annual capacity of 1,300 tons. The company has eight subordinate production centers of PTA, polyester, staple fiber, bottle-grade chips, filament, filament texturizing, high performance fiber and BDO, as well as five ancillary production centers of thermal power, dynamic, water supply and treatment, logistics, fire and gas control. It also possesses post-sales service department, procurement service department, research and development institution and other seventeen offices and departments.
Assets Management Corporation Yizheng Branch has four subordinate production units and community management center (management center for retired personnel). Its PBT production center principally produces PBT for engineering plastics with an annual capacity of 80 thousand tons. Yihua Toray Polyester Film Company Limited is a joint venture company established with equities of 50 to 50 between Assets Management Corporation Yizheng Branch and Toray Industries of Japan, which is mainly engaged in the production of various polyester films with an annual capacity of 30 thousand tons. Yihua Bonar Yarns and Fabrics Company Limited is a joint venture company established with equities of 40 to 60 between Assets Management Corporation Yizheng Branch and Low & Bonar Group of the United Kingdom, which is capable of producing 60 million square meters polypropylene fabrics and artificial grass yarn of 1,500 tons per year. Hainan Shengzhiye Hi-Tech. Inc., located in Hong Kong and Macau Industrial Zone at Haikou, Hainan Province, primarily produces and distributes bottle-grade polyester chips with an annual capacity of 240 thousand tons. As of January 1, 2010, the overall management of Hainan Shengzhiye Hi-Tech. Inc. was shifted from Sinopec Assets Management Corporation to Sinopec Assets Management Corporation Yizheng Branch as its subordinate production center.
Address: 1 Zhangjiang West Road, Yizheng City, Jiangsu Province, China
Postal code: 211900