rongsheng international business limited in stock

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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.

HONG KONG (Reuters) - Shares in China Rongsheng Heavy Industries Group Holdings Ltdtumbled 16 percent on Monday after the U.S. securities regulator accused a company controlled by the shipbuilder"s chairman of insider trading ahead of China"s CNOOC Ltd"sbid for Canadian oil company Nexen Inc.Labourers work at a Rongsheng Heavy Industries shipyard in Nantong, Jiangsu province May 21, 2012. REUTERS/Aly Song

The U.S. Securities and Exchange Commission filed a complaint in a U.S. court on Friday against a company controlled by Rongsheng Chairman Zhang Zhirong, and other traders, accusing them of making more than $13 million (8.2 million pounds) from insider trading ahead of CNOOC’s $15.1 billion bid for Nexen.

“The news around the chairman comes on the back of other operational and credibility issues,” Barclays said in a note to clients. “We think China Rongsheng presents significant company-specific risk.”

Before Monday’s tumble, the stock had lost more than 73 percent in the past 12 months as a downturn in the global shipbuilding industry clouded its business outlook.

In a filing with the Hong Kong stock exchange, Rongsheng - which entered a strategic cooperation agreement with CNOOC in 2010 - said it did not expect the U.S. investigation to affect its operations. It said Zhang did not have an executive role in the company.

The SEC does not allege any wrongdoing by Zhang, but notes that he is the controlling shareholder of a company that engages in significant business activities with CNOOC. CNOOC in Beijing has declined comment on the matter.

Rongsheng, controlled by Zhang, also issued a profit warning on Monday, saying first-half earnings would fall sharply as a result of the shipbuilding downturn.

Zhang was ranked the 22th richest Chinese person by Forbes Magazine in September 2011. But his net worth fell by more than half in the past year to $2.6 billion in March 2012 as shares of Rongsheng tumbled.

HONG KONG (Reuters) - Shares in China Rongsheng Heavy Industries Group Holdings Ltdtumbled 18 percent on Monday after the U.S. securities regulator accused a company controlled by the shipbuilder"s chairman of insider trading ahead of China"s CNOOC Ltd"sbid for Canadian oil company Nexen Inc.Labourers work at a Rongsheng Heavy Industries shipyard in Nantong, Jiangsu province May 21, 2012. REUTERS/Aly Song

The U.S. Securities and Exchange Commission filed a complaint in a U.S. court on Friday against a company controlled by Rongsheng Chairman Zhang Zhirong, and other traders, accusing them of making more than $13 million from insider trading ahead of CNOOC’s $15.1 billion bid for Nexen.

On Monday, Rongsheng shares dropped as much as 18 percent to HK$1.15, a record low, leaving the company with a market capitalization of just over $1 billion. The company also issued a profit warning, saying first-half earnings would fall sharply as a result of a global shipbuilding downturn, a factor that has already pushed its shares down more than 75 percent in the past year.

Rongsheng - which entered a strategic cooperation agreement with CNOOC in 2010 - said in a Hong Kong filing that it did not expect the U.S. investigation to affect its operations. It said Zhang did not have an executive role in the company.

The SEC does not allege any wrongdoing by Zhang, but notes that he is the controlling shareholder of a company that engages in significant business activities with CNOOC. CNOOC in Beijing has declined comment on the matter.

“The news around the chairman comes on the back of other operational and credibility issues,” Barclays said in a note to clients. “We think China Rongsheng presents significant company-specific risk.”

Zhang was ranked the 22th richest Chinese person by Forbes Magazine in September 2011. But his net worth fell by more than half in the past year to $2.6 billion in March 2012 as shares of Rongsheng tumbled.

Glorious Property said in a statement on Monday that the U.S. investigation would not affect the business of the developer. At HK$1.12, the shares are down 40 percent from its 2012 high late in February, leaving it with a market capitalization of about $1.13 billion.

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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

Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International stock quotes are delayed as per exchange requirements. Fundamental company data and analyst estimates provided by FactSet. Copyright © FactSet Research Systems Inc. All rights reserved. Source: FactSet

Shares in China Rongsheng Heavy Industries Group Holdings Ltd tumbled 18 per cent on Monday after the U.S. securities regulator accused a company controlled by the shipbuilder"s chairman of insider trading ahead of China"s CNOOC Ltd"s bid for Canadian oil company Nexen Inc.

The U.S. Securities and Exchange Commission filed a complaint in a U.S. court on Friday against a company controlled by Rongsheng Chairman Zhang Zhirong, and other traders, accusing them of making more than $13-million (U.S.) from insider trading ahead of CNOOC"s $15.1-billion bid for Nexen.

On Monday, Rongsheng shares dropped as much as 18 per cent to $1.15 (Hong Kong), a record low, leaving the company with a market capitalisation of just over $1-billion. The company also issued a profit warning, saying first-half earnings would fall sharply as a result of a global shipbuilding downturn, a factor that has already pushed its shares down more than 75 per cent in the past year.

Rongsheng – which entered a strategic cooperation agreement with CNOOC in 2010 – said in a Hong Kong filing that it did not expect the U.S. investigation to affect its operations. It said Zhang did not have an executive role in the company.

The SEC does not allege any wrongdoing by Mr. Zhang, but notes that he is the controlling shareholder of a company that engages in significant business activities with CNOOC. CNOOC in Beijing has declined comment on the matter.

"The news around the chairman comes on the back of other operational and credibility issues," Barclays said in a note to clients. "We think China Rongsheng presents significant company-specific risk."

Mr. Zhang was ranked the 22th richest Chinese person by Forbes Magazine in September 2011. But his net worth fell by more than half in the past year to $2.6-billion in March 2012 as shares of Rongsheng tumbled.

Glorious Property said in a statement on Monday that the U.S. investigation would not affect the business of the developer. At $1.12 (Hong Kong), the shares are down 40 per cent from its 2012 high late in February, leaving it with a market capitalisation of about $1.13-billion.

Multi-functional Introduction The core technology of this product adopts the current international advanced high-temperature

Company Main business Registered capital Total assets Net assets Net profit

Zheng); Zheng January 20, 2021 Report, the Rongsheng No

The Strategy Li Shuirong; Li All the members summarized Major business plan for 2021: Strengthen the The major

Committee Yongqing; Yao the work in 2020 and monitoring of major projects; Deepen the business plan

Rongsheng acceptance ure/detail?plate=szse&orgId=9900015

Zhejiang Rongsheng Holding Group Co., Ltd. non-state-owned 61.46% 6,222,789,981 2,092,063,766 0 6,222,789,981

becoming the top 10 shareholders due to rights Fenhua Investment Partnership (Limited Partnership) and China Construction Bank Co., Ltd. - GF Technology Pioneer Hybrid Securities

Explanation of the relationship or concerted action and Li Guoqing are nephews of Li Shuirong, Chairman of the Board of Directors of Zhejiang Rongsheng Holding Group Co., Ltd., and Xu

Zhejiang Rongsheng Holding Group Co., Ltd. 6,222,789,981 RMB ordinary shares 6,222,789,981

Hong Kong Securities Clearing Company Limited 137,861,004 RMB ordinary shares 137,861,004

Hangzhou Fenhua Investment Partnership (Limited Partnership) 56,831,227 RMB ordinary shares 56,831,227

to Eligible Investors by 20 Rongsheng 14922 August 31, August 31, September interest. The

Rongsheng G2 0 2020 2020 2, 2024 interest shall be

19 Rongsheng G1 1,000,000,000 2 years 994,614,150.95 1,002,893,069.59 48,854,246.58 2,452,683.83 1,054,200,000.00

20 Rongsheng G1 1,000,000,000 4 years (2 + 2) 995,452,830.20 1,029,248,500.45 47,700,000.04 1,211,525.65 47,747,169.81 1,030,412,856.33

20 Rongsheng G2 1,000,000,000 995,405,660.39 1,011,504,472.60 47,834,246.60 1,172,688.86 47,994,339.62 1,012,517,068.44

enterprise business Direct Indirect ventures and associated

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