Hengyi Industries Sdn Bhdis a leading Chinese petrochemical and fiber manufacturer listed on the Shenzhen Stock Exchange (SZSE: 000703). Headquartered in Hangzhou, Zhejiang Province, China, the company operates a vertically integrated business model spanning the entire petrochemical value chain: refining-PTA-polyester-fiber production. With approximately 10,000 employees across five global production bases in China and Brunei, Hengyi serves as a critical upstream supplier to the textile industry, providing essential raw materials including purified terephthalic acid (PTA), polyester fibers, and specialty chemical products. The company reported 2024 annual revenue of approximately 1,200 billion RMB, with a brand heat score of 76/100 in China's chemical fiber raw materials industry.
Core Business
Hengyi Industries specializes in the production of chemical fiber raw materials serving the textile industry. The company's core products include PTA (Purified Terephthalic Acid) with 13.5 million tons/year capacity, ranking World No. 1 globally; PET Chips with 3 million tons/year capacity; and Caprolactam (CPL) with 400,000 tons/year capacity. Business segments encompass Functional Fabrics (10.7) as the core business, providing polyester fabrics through PTA and polyester raw materials; Sustainable Fashion (14.2, 14.6) as an important business, offering recycled PET chips (rPET) for recycled polyester apparel and bio-based PTA for degradable apparel; and Home Textiles (9.1, 9.3, 9.11). Operating on a B2B model, Hengyi supplies textile manufacturers and downstream processing enterprises as an important upstream enterprise in the textile industry chain.
Global Presence
Hengyi Industries operates 5 production bases globally with 3 polyester fiber factories strategically distributed. In China, facilities are located in Ningbo, Zhejiang (world-class PTA complex), Yangpu, Hainan, as well as Zhejiang and Jiangsu provinces. Overseas, the company operates a major facility in Pulau Muara Besar, Brunei. The company maintains significant market presence with 70% of revenue from the Chinese domestic market and 30% from overseas markets including Brunei and other international regions. With PTA annual capacity of 10 million tons and polyester annual capacity of 8 million tons, Hengyi has established itself as a critical global supplier in the petrochemical fiber industry.
Key Strengths
Hengyi Industries' competitive advantages stem from its fully integrated industrial chain covering refining-PTA-polyterephthalate-polyester fiber production, enabling superior cost control and operational efficiency. The company holds the World No. 1 position in PTA production capacity, demonstrating strong market dominance and economies of scale. As a self-producing petrochemical fiber enterprise, Hengyi focuses on chemical fiber raw materials and synthetic fibers with approximately 60% of its 10,000 employees being production personnel. The company's vertical integration strategy, scale advantages, and established position as China's important chemical fiber raw material enterprise provide sustainable competitive positioning in the global textile supply chain.
