rongsheng llc in stock

RONGSHENG PETROCHEMICAL CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of chemicals and chemical fibers. The Company’s main products include aromatics, phosphotungstic acid (PTA), polyethylene terephthalate (PET) chips, terylene pre-oriented yarns (POYs), terylene fully drawn yarns (FDYs) and terylene draw textured yarns (DTYs), among others. The Company distributes its products in domestic market and to...More

US Customs records for Rongsheng Lighting Manufactory Co, a supplier based in China. See their past imports and exports, including shipments to Melrose Internation, Llc. in Quincy, Illinois.

Rongsheng Petro Chemical Co, Ltd. specialises in the production and marketing of petrochemical and chemical fibres. Products include PTA yarns, fully drawn polyester yarns (FDY), pre-oriented polyester yarns (POY), polyester textured drawn yarns (DTY), polyester filaments and polyethylene terephthalate (PET) slivers.

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HONG KONG - China Rongsheng Heavy Industries Group, China’s largest private shipbuilder, issued a surprise warning that it expects to post an annual net loss for 2012 on sharp declines in orders and prices of new vessels after the shipping industry took a downward turn during the year.

Rongsheng was hit by an insider dealing scandal last year involving a company owned by its major shareholder, Zhang Zhirong, who stepped down as chairman last month and was replaced by chief executive officer, Chen Qiang. The shipbuilder has been diversifying into offshore engineering to help weather the industry downturn. — Reuters

Shares of Rongsheng ended down 1.5 per cent on Monday and have lost 37 per cent of their value this year, underperforming a 22 per cent gain on the Hang Seng Index . In August, Rongsheng reported its sharpest fall in half-year profit, down 82 percent, to 215.8 million yuan ($34.65 million)on a dearth of new orders, putting further pressure on its stretched balance sheet. [ID:nL4E8JD34Q]

In an uncertain profit outlook, the shipbuilder’s estimated free cash flow in 2013-14 was unlikely to be enough to lower net debt, Citi said in a research report on Dec. 10. Rongsheng had net debt of about 17 billion yuan, it added.

Chinese shipbuilder Jiangsu Rongsheng Heavy Industries Co Ltd, which last year attracted investment from big-name private equity, is preparing an overseas IPO to raise at least $1 billion, and maybe double that.

The timing of the listing will depend on market conditions, but Rongsheng is proceeding quickly with preparations, the company source added. "We are a young enterprise established about three years ago, so we cannot provide a financial record that meets the requirements of Chinese regulators for a domestic IPO. But we can try overseas," the source said.

An investment unit of Goldman Sachs, private investment fund D.E. Shaw and another Chinese private equity fund paid $250 million for a minority stake in Rongsheng last year, the company source said.

Rongsheng, which aims eventually to compete with much bigger state-owned rivals such as Guangzhou Shipyard International Co, is joining many of its peers in seeking to tap capital markets to fund rapid growth, which has been fuelled by China"s booming global trade.

On Monday, Brazilian iron ore miner Vale said it commissioned 12 very large ore carriers from Rongsheng. Each carrier will have a capacity of 400,000 dead-weight tonnes.