On October 20, the 2020 China Top 500 Petroleum and Chemical Enterprises release conference and a summit forum on the development of large Chinese chemical enterprises in the post-pandemic era were held in Beijing. The 2020 ranking was released, and Shandong Hongda Bio (Group) Technology Co., Ltd. ranked 230th among comprehensive enterprises.
The ranking was compiled from companies’ 2019 main-business revenue and public data from listed companies. The working committee investigated, verified and calculated the data, then ranked enterprises by annual revenue in accordance with international practice.
The 500 comprehensive enterprise groups listed this year achieved record main-business revenue of RMB 13.5 trillion, an increase of RMB 400 billion or 3%. Excluding independent production and operating enterprises formed by non-chemical businesses, the 500 enterprises’ main-business revenue reached RMB 8.72 trillion, accounting for 70.1% of the sector total.
Founded in 2004, Shandong Hongda Bio (Group) Technology Co., Ltd. is a national high-tech enterprise producing ethanol and downstream products from dried sweet-potato material. It has more than 3,000 employees and annual comprehensive production capacity of one million tons, and is an integrated group covering bioenergy, fine chemicals, liquor, environmental protection, real estate and trade. It has developed Shandong and Guangxi industrial bases, an international-trade platform in Singapore, and annual output value of RMB 12 billion.
Innovation is the primary driver of development. Hongda invested RMB 300 million to establish R&D centers in Shanghai and Beijing and formed partnerships with Jiangnan University, Beijing Institute of Petrochemical Technology, Zhejiang University of Technology and Fudan University. Its biotechnology and circular-economy work has reached an internationally advanced level; it holds 85 patents, has led or formulated several industry standards, and has moved from following to running alongside and leading in core-technology R&D.
Following a market-centered strategy, Hongda has invested more than RMB 100 billion in industrialization of new products, including the Shanxi coal-based new materials and fine-chemicals value chain, Xinjiang’s annual 500,000-ton agricultural by-product deep-processing project, the Shandong ginger high-efficiency utilization project, the 20,000-ton food fortifier project and comprehensive fusel-oil treatment and utilization.
With innovation leading and projects driving development, Shandong Hongda Bio will continue to develop bio-based and fine chemicals and inject new ideas and momentum into China’s chemical industry.