rongsheng holdings quotation

Rongsheng Petrochemical Co., Ltd. engages in the research, development, production, and sale of chemical, oil, and polyester products. It offers gasoline, diesel fuel, kerosene, paraxylene, ethylene glycol, styrene 156, m-xylene, polyethylene, polypropylene, EVA, polycarbonate, ABS, PTA, PIA, filament, bottle flakes, and film. The company also offers olefins and their downstream, aromatics and their downstream, oil products, etc., which are widely used in covering new energy, new materials, organic chemicals, synthetic fibers, synthetic resins, Synthetic rubber, oil products, and other fields. The company was founded in 1995 and is based in Hangzhou, China. Rongsheng Petrochemical Co., Ltd. is a subsidiary of Zhejiang Rongsheng Holding Group Co., Ltd.

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.

The company was founded in 1996 and successfully landed on the Shenzhen Stock Exchange on August 8, 2007, becoming the first real estate company in Hebei Province to be listed through an IPO. Currently, it has a registered capital of 4.348 billion yuan. Rongsheng Development has always been committed to branded real estate development and strives to explain the concept of modern living through professional management and quality projects. After more than 20 years of development, the company has made great strides in operating scale and business fields, and has rapidly grown from the initial development of ordinary housing to a large-scale multi-industry integrated group company integrating businesses such as real estate development, leisure and tourism investment, financial investment, and Internet innovation. The company has basically formed a comprehensive and comprehensive industry chain with real estate development as the main business, integrating businesses such as hospitality, industrial parks, design, industry, hotels, property, business management, real estate finance, etc., through collaborative development of the main and auxiliary industries. Corporate honors: National “Ten Thousand Enterprises Help Ten Thousand Villages” Precise Poverty Alleviation Action Advanced Private Enterprises; Annual Sustainable Projects for Precise Poverty Alleviation; Hebei Province"s “Thousand Enterprises Help a Thousand Villages” Advanced Private Enterprises with Precise Poverty Alleviation Actions; Hebei Province"s Thousand Enterprises Help Thousand Villages Industrial Poverty Alleviation Award; “Doing Good to the World” Poverty Alleviation Contribution Award; Yuxian Social Poverty Alleviation Bank Card Enterprise.

BEIJING, Aug 14 (Reuters) - Rongsheng Petrochemical , the listed arm of a major shareholder in one of China’s biggest private oil refineries, expects demand for energy and chemical products to return to normal in the country in the second half of this year.

Rongsheng expects to start trial operations of the second phase of the refining project, adding another 400,000 bpd of refining capacity and 1.4 million tonnes of ethylene production capacity in the fourth quarter of 2020.

“We expect the effects of the coronavirus pandemic on energy and chemicals to have basically faded in spite of the possibility of new waves of outbreak,” said Quan Weiying, board secretary of Rongsheng, in response to Reuters questions in an online briefing.

But Li Shuirong, president of Rongsheng, told the briefing that it was still in the process of applying for an export quota and would adjust production based on market demand. (Reporting by Muyu Xu and Chen Aizhu; Editing by Jacqueline Wong)

HONG KONG, Nov 26 (Reuters) - China Rongsheng Heavy Industries Group, the country’s largest private shipbuilder, said its chairman had stepped down just three months after the company posted its sharpest fall in half-year net profit.

Listed in November 2010, Rongsheng was hit by an insider dealing scandal involving a firm owned by Zhang ahead of the $15.1 billion bid for Canadian oil firm Nexen Inc by China offshore oil and gas producer CNOOC.

Rongsheng said earlier this month that investment firm Well Advantage, controlled by Zhang, had agreed to pay $14 million as part of a settlement deal with the U.S. Securities and Exchange Commission (SEC).

In August, Rongsheng posted an 82 percent drop in half-year profit on a dearth of new orders and warned economic uncertainties would continue to weigh on the global shipping market.

Zhang Zhirong has also resigned as chairman of Glorious Property Holdings Ltd, the property developer said, as part of a series of executive changes at the company.

As part of the changes at China Rongsheng, the company said that Zhang De Huang was retiring and had resigned as an executive director and as vice chairman of the board.

Zhejiang Rongsheng Holding Group Co., Ltd., through its subsidiaries, engages in the businesses of petrochemical, polyester, spinning, false-twisting, logistics, coal chemicals, real estate, and venture investment businesses.

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

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 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.

Shares of Glorious Property Holdings Ltd, a Chinese real-estate developer in which Zhang has a 68 per cent stake based on a December 2011 filing, also fell sharply. The stock fell as low as $1.12 (Hong Kong), down 15 per cent from Friday.