Far East Petrochemical: "Chemical Fiber Giant" Jedi Regeneration Again Brilliant

Since the end of last year, Shaoxing Far East Petrochemical (formerly "Hualian three Xin") is busy reporting 1 million 200 thousand tons of PTA production line investment projects have been reported. For this news, both the "Far East" employees and producers are excited.

With the improvement of the localization of PTA this year, the competition of PTA industry is becoming more and more intense in China. Although there are only 3 PTA producers in China that can be compared with "Far East petrochemical", there are some competitors from Fujian and Liaoning. However, if the construction project of "Far East petrochemical" can be declared successful and put into operation, it will continue to have the original PTA "big brother" status of "Hualian three Xin". That is to say, it will become the largest and dominant company in the industry.

In this regard, the industry is quite optimistic. More than a year ago, this so-called "Big Mac", known as Asia's first, was "seriously injured" overnight. Industry Topple. And now, after the government led and multi party "blood injection" reorganization, it can finally make a comeback.

"Hualian three Xin", which is pulled back from the edge of the cliff, is a story of "Phoenix Nirvana".

Background:

"Blood injection" reorganization opens up a new world.

For "Hualian three Xin", last year's "cold winter" came very early.

Last September 30th, under the financial crisis environment, industry Periodicity Fluctuations and poor management of enterprises and many other factors, as the source of the industry, leading enterprises of the "Hualian three Xin" appeared in the capital chain rupture, suddenly collapsed.

In October 24th last year, the Zhejiang Far East chemical fiber group and Binhai Industrial Development Investment Co., Ltd. invested 900 million yuan and 600 million yuan respectively, and the "Hualian three Xin" was reorganized and renamed "Far East petrochemical".

In November 7th last year, the first production line resumed production; in December 9th last year, second production lines resumed production; in April 20th this year, third production lines resumed production.

"The sales volume has reached about 13000000000 yuan this year, so far there is almost no inventory of products, and production and operation are quite good. Yesterday, Sun Zhongfu, director of Shaoxing economic and Trade Bureau, said that the situation of "Hualian three Xin" after restructuring was excellent. Orders for next year have been fully implemented, and orders are still flying like snowflakes.

Sun Zhongfu revealed that by the end of November, the cash flow of "Far East petrochemical" had increased by 6.4 billion, making up for the huge losses in the previous stage, and this year's cash flow is expected to increase by at least 700 million ~7.5 billion yuan. At present, almost three production lines with a total production capacity of 1 million 800 thousand tons are running at full capacity.

Industry analysts believe that from the perspective of the current PTA, whether it is the regional economy or Industry market Far East Petrochemical is still very promising to keep the position of "taking the lead".

Reason:

How does phoenix "Nirvana" on the edge of a cliff?

The sales value of about 13000000000 yuan and the cash flow of 750 million yuan may be astronomical for many people. And how did "Hualian three Xin" on the edge of the cliff come back to life?

A, the government "rescue"

There is no doubt that the leading role of the government is obvious in the successful handling of the "Hualian three Xin" incident.

"If it hadn't been for the government's rescue, maybe I could go home and farm." Zhang Shifu is a freight driver of the original "Hualian three Xin". Last year, the company's shutdowns gave him nightmares. Last year, fear of losing his job and collecting funds, all kinds of blows made his life worse. Soon, however, the company became more and more lively. All the raw materials suppliers, buyers, borrowers and banks were singing to me.

This worried day did not take long. The "Hualian three Xin" incident has aroused great concern from all walks of life. The Shaoxing county Party committee and the county government have taken a series of emergency measures at the first time, including sending emergency response teams to enter the enterprises, and actively doing a good job in finding out corporate debts, maintaining enterprise order, strengthening security and drawing up a reorganization plan.