dc rongsheng manufacturer

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.

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.

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Financial Associated Press, September 6 - Rongsheng development announced that on September 6, 2021, the company received a letter from the controlling shareholder Rongsheng Holding Co., Ltd. ("Rongsheng holding") and learned that some of its shares in the company were released from the pledge, and 67 million shares were released from the pledge this time.

Zhongshan Rongsheng Precision Manufacturing Co., Ltd. is located at Nantou Town, Zhongshan City, with a plant area of more than 5,000 square meters.At present, the company has 55 large-scale CNC machining centers, 1 3D printer imported from Israel and 1 fully automatic vacuum casting machine. It is one of the powerful precision machinery processing plants in Zhongshan City.

Zhongshan Rongsheng Precision Manufacturing Co., Ltd., a professional machining manufacturer with 10 years of industry experience, is good at CNC small batch processing, precision CNC processing, hardware non-standard parts processing and customization, hardware prototype models, CNC hardware prototype processing, etc., good at various Surface treatment of materials, with complete pre-sales and after-sales services, a processing factory integrating processing, production and design and development, and continuous development and research of new processes to ensure customer development and market needs, shorten the proofing cycle and save development costs for customers And keep working hard.

Two Chinese newcomers make the ranking: TongKun Group at 48 and Hengyi Petrochemical at 50. Both are polyester producers that make their own raw materials. Hengyi also has a large, integrated nylon 6 business. Both companies join similar Chinese firms, like Hengli Petrochemical and Rongsheng Petrochemical. All these companies have been building massive complexes for aromatics and derivatives, in many cases swamping entire segments of the chemical industry—such as purified terephthalic acid—with new capacity that is well beyond the scale of players outside China.

A Rongsheng Petrochemical subsidiary, Zhejiang Petroleum & Chemical, started up the second phase of its massive refining and petrochemical complex in Zhejiang, China, in 2021. With capacity now doubled, the facility can process 40 million metric tons (t) of oil per year. The facility has a large petrochemical output: up to 6.6 million t of aromatics and 1.4 million t of ethylene per year. The expansion allowed the company to start making specialized polymers, such as acrylonitrile-butadiene-styrene and polycarbonate.

Asahi Kasei has been making a push into biobased chemicals. It plans to make the building-block chemical acrylonitrile from biomass-derived propylene at its Tongsuh Petrochemical subsidiary in South Korea. It will use a mass-balance approach, in which biomass fed into a conventional petrochemical plant is credited to a share of products that are made. And at a conference in Washington, DC, in March, company officials said Asahi would commercialize nylon 6,6 made with biobased hexamethylenediamine from Genomatica. Meanwhile, the Japanese company is exiting one of its old-line operations. In August, the company said it was leaving the clear styrene block copolymer business by 2023 because of deteriorating profitability.