rongsheng holdings factory

The company, 51 percent owned by Rongsheng Holdings, is building a 400,000 barrels per day refinery which is integrated with a petrochemical complex led by a 1.2 million-tonne per year ethylene facility.

Two separate industry sources said Rongsheng has bought a million barrels of Brazilian medium-sweet crude Lula for end-January arrival possibly for use in the test operation.

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.

US Customs records for Rongsheng Electrical Manufacturing, a supplier based in China. See their past imports and exports, including shipments to Made Simple Llc in Brooklyn, New York.

Rongsheng Group has been committed to the development of new technologies and new products of refractory materials. It is a nationally recognized high-tech enterprise and a scientific and technological enterprise in Henan Province. Rongsheng had successively passed the ISO quality, environment, safety management system certification. Up to now, Rongsheng has an annual output of 50,000 tons of high-grade aluminum silicon refractory brick production line and an annual output of 80,000 tons of automatic intelligent unshaped refractory production line, products are sold to more than 60 countries around the world, While providing products, Rongsheng continue to provide professional engineering services to customers, and have rich experience in kiln structure manufacturing, improvement, construction, oven and insulation treatment, and have won unanimous praise from domestic and foreign customers.

(Reuters) Chinese conglomerate Zhejiang Rongsheng Holding Group plans to double capacity of a joint venture refining project to 800 Mbpd in 2020, two years after the first phase starts up, senior company officials said Thursday.

The project, a venture among private companies led by Rongsheng, is planning to start up the 400 Mbpd first phase in 2018, aiming to meet the group"s requirements for petrochemical feedstocks.

On November 17th, Rongsheng Real Estate Development Co., Ltd. issued an announcement, saying that it had received a letter from the controlling shareholder Rongsheng Holdings Co., Ltd. that its 54 million shares had been released from pledge, accounting for 3.48% of its shareholdings and 1.24% of the total share capital of Rongsheng Development.

In addition, Rongsheng Holdings pledged 20 million shares of Rongsheng Development shares, accounting for 1.29% of its shares and 0.46% of the total equity of Rongsheng Development. The starting date of the pledge is November 16, 2021.

It is reported that as of the date of disclosure of the announcement, Rongsheng Holdings and its actors held a total of 2.756 billion shares of Rongsheng Development, with a shareholding ratio of 63.38%; the cumulative number of pledged and set trusts was 1.554 billion shares, accounting for 56.4% of its shares and 35.75% of the total shares of Rongsheng Development.

It is also learned that the cumulative number of pledged shares due in the next six months of Rongsheng Holdings and its concerted actors will be 533 million shares, and the cumulative number of pledged shares due in the next year will be 652 million shares, corresponding to the financing balance of 1.265 billion yuan and 1.715 billion yuan respectively. The announcement shows that the sources of repayment funds after the stock pledge of Rongsheng Holdings and its concerted actors are mainly from business rebates, dividends, investment income, other income, etc., its credit status is good, it has the ability to repay funds, and the risk of pledged shares can be controlled.

Image: The agreement was signed by His Excellency Dr. Sultan Al Jaber, UAE Minister of State and ADNOC Group CEO, and Li Shuirong, Chairman of Rongsheng Group. Photo: courtesy of Abu Dhabi National Oil Company.

The Abu Dhabi National Oil Company (ADNOC) has entered into a framework agreement with China-based Rongsheng Petrochemical to look out for domestic and international expansion opportunities.

The deal will see ADNOC and Rongsheng explore opportunities in the sales of refined products from ADNOC to Rongsheng, downstream investment opportunities in both China and the UAE, and the supply and delivery of LNG to Rongsheng.

Under the terms of the agreement, both the companies will look out for opportunities to expand the volume and range of refined products sales to Rongsheng in addition to ADNOC’s participation as Rongsheng’s strategic partner in refinery and petrochemical opportunities, including funding in Rongsheng’s downstream complex.

On the other hand, the China-based company will also explore possible investments in ADNOC’s downstream industrial ecosystem in Ruwais, including the proposed Gasoline Aromatics Plant, GAP, and the possibility for ADNOC to supply and deliver LNG for utilisation by Rongsheng within its production factories in China.

Rongsheng Group chairman Li Shuirong said: “The strategic cooperation with ADNOC will ensure that our ZPC project, which will have a refining capacity of up to 1 million barrels per day (mbpd) of crude, has adequate supplies of feedstock.

“Our valued partnership will enable Rongsheng Petrochemical to continue its expansion into the international oil market and we are confident Rongsheng Petrochemical will achieve enhanced market share and recognition in the global marketplace.”