tang rongsheng supplier

The China Rongsheng Heavy Industries (RSHI) Group Holdings is a leading large-scale heavy industry conglomerate with operations covering shipbuilding, marine engineering, power engineering, construction machinery and other related fields. The China RSHI Group was successfully listed on the Main Board of The Stock Exchange of Hong Kong on 19th November 2010.

Liang studied for a Master’s in Corporate Management at Tongji University and undertook a period of work experience at Berlin Technical University. He is Deputy Treasurer at China Rongsheng Heavy Industries Group Holdings.

Rongsheng has a vertically centralised treasury structure. We have two production bases located respectively in Rugao, Nantong and Hefei, Anhui Province. The group headquarters are in Hong Kong and Shanghai, with treasury department composed of seven employees, responsible for FX and interest rate risk management, financing, cash management and bank relationship management.

US Customs records for Foshan Rongsheng Packing Industry, a supplier based in China. See their past imports and exports, including shipments to Pac Team America Inc in Paramus, New Jersey.

Trading: 72 CT IKEA HOME FURNISHING PRODUCTS 89.250KG 1.495CUM HS CODE:940510 2412CT IKEA HOM E FURNISHING PRODUCTS 14604.97KG 52.66CUM HS CODE:940520 64 CT IKEA HOME FURNISH ING PRODUCTS 132.230KG 1.588CUM HS CODE: 940540 VIP:054 SHIPMENT ID:012-TSO-S432698 CO NSIGMENT:17907-SUP-ECIS1 1458 HUIZHOU HONORFA ITH FURNITURE CO. LT SHENLI IND.,YUANZHOU TOW N, HUIZHOU ZIP CODE:516123 JIANGMEN LI HUA I NDUSTRY CO LTD TIAN HE XU, TANG XIA TOWN, JIA NGMEN ZIP CODE:529085 SHENZHEN JZY GLASS CO L TD NO.104,HONGHU RD,YANCHUAN,SONGGANG, SHENZH EN ZIP CODE:518106 DONG GUAN DA LING SHAN IDE A & DESIGN JIUFEIER VILLAGE DALINGSHAN TOWN, DONGGUAN ZIP CODE:523809 DONGGUAN WORLD SOURC E APPLIANCE & M CHEUNG AN-TANG VILLAGE, DONGG UAN ZIP CODE:523459 DONG GUAN THE FAR-SIGHT F URNITURE C QINGFENG ZHONG STREET LIANGXING RO AD, DONGGUAN ZIP CODE:523000 JIANGMEN FUQIAO TRAVEL PRODUCTS FAC LUBIAN DISTRICT, CHAOLIA N, JIANGMEN ZIP CODE:529090 DONGGUAN RONGSHEN G FURNITURE CO LTD TIANXING,DONGSHENG NO.2 RO AD, DONGGUAN ZIP CODE:523696 MARMON RETAIL SE RVICES ASIA LONG TANG, WU GUI SHAN TOWN, ZHO NGSHAN ZIP CODE:528458

Rows of dilapidated five-story dormitories in the city of Nantong, previously housing China Rongsheng Heavy Industries Group Holdings Ltd.’s 38,000 employees, were abandoned after the shipbuilder teetering on collapse cut almost 80 percent of its workers over the past two years. Most video arcades, restaurants and shops serving them have closed.

Rongsheng, which is seeking a government bailout after accumulating 25 billion yuan ($4.1 billion) in unpaid loans as of June, including to Bank of China Ltd., is a casualty of over- investment gone bust. In Nantong, the only remaining market is selling past-its-shelf-life bread, woolly shoe pads and other dusty items at a discount as shopkeeper Qiu Aibing prepares to wind down before winter. There’s no sign of a single customer.

Rongsheng, whose assets jumped sevenfold between 2007 and 2012 when government-directed lending led to a shipbuilding boom, also has loans outstanding to Export-Import Bank of China and China Development Bank Corp., state-owned policy banks set up to provide financial support at a cheaper cost to companies and industries endorsed by the government. Rongsheng may post a second consecutive loss of 2 billion yuan this year and a 1.1 billion yuan loss in 2014, according to a median estimate of analysts in a Bloomberg survey.

Rongsheng now relies on its remaining 8,000 workers to build the world’s biggest cargo ships for Brazil’s iron-ore producer Vale SA and Oman Shipping Co., as well as smaller vessels and oil tankers. Workers in its shipyards, mostly from other parts of China, and local staff in its Shanghai office have had their salaries delayed, sometimes by two months, a person with knowledge of the matter said.

Rongsheng declined in an e-mail to answer questions about its operations. Spokesmen for ICBC and China Construction Bank Corp. declined to comment on the prospect of rising bad loans, while those at Bank of China, Agricultural Bank of China Ltd. and China Development Bank didn’t respond to requests.

The pain is being experienced by Rongsheng’s peers nationwide. A third of the country’s 1,600 shipyards may shut down within five years amid a global vessel glut, Wang Jinlian, secretary general of the China Association of the National Shipbuilding Industry, said in July.

“The real situation is much worse than the data showed” after talking to chief financial officers at industrial manufacturers, said Wendy Tang, a Shanghai-based analyst at Northeast Securities Co., who estimates the actual nonperforming-loan ratio to be as high as 3 percent. “It will take at least one year or longer for these NPLs to appear on banks’ books, and I haven’t seen the bottom of deterioration in Jiangsu and Zhejiang yet.”

In Nantong, handmade-noodle-shop owner Ma Shuntian said he’s still a believer, even after losing 50,000 yuan this year. Ma and his wife pumped almost 1 million yuan into the restaurant five years ago after selling everything they had in Qinghai province and moving to the area where Rongsheng’s workers reside. In a good year, selling noodles brought in more than 100,000 yuan in profit.

“I hope Rongsheng can come through this crisis and the town comes back to life,” said Ma, a father of three. “If they earn big money, I can earn small.”