Rongsheng Formosa Petrochemical Co (hereinafter referred to as " Rongsheng petrochemical IPO application was approved by the SFC.

Rongsheng Petrochemical is a Limited by Share Ltd established by Rongsheng Chemical Fiber Group Co., Ltd. as a whole. Its name was Zhejiang Rong Sheng chemical fiber Limited by Share Ltd, and it was changed to Rong Sheng Formosa Petrochemical Co in September 29, 2007.

Rongsheng Petrochemical is mainly engaged in the production and sale of PTA and polyester fiber related products. Its main products are PTA and three series of polyester drafting yarn, polyester preoriented yarn, polyester and elastic wire, various kinds of polyester filament and PET chips. The company is a large polyester filament manufacturer in China. By the end of 2009, the company has formed the annual design and production capacity of 600 thousand tons of polyester, 570 thousand tons of polyester spinning, and 250 thousand tons of polyester and elastic wire. The subsidiary company of Yisheng and the stock company Zhejiang Yisheng has the annual production capacity of 1 million 200 thousand tons and 1 million 60 thousand tons PTA respectively.

From 2007 to June 2010, the company was affected to a certain extent. Industry cyclical Fluctuations. In 2007, polyester polyester industry is at a high level in the boom cycle, with high gross profit margin and strong profitability, while the gross margin of PTA industry is at a historic low. In 2008, under the influence of the financial crisis, PTA and polyester polyester industries and companies were affected, especially in the second half of 2008, the gross margin and profit situation had a significant decline.

In 2009, the price of PTA and polyester polyester related products stabilized and oscillating upward trend, and the gross profit margin and profitability of the company rebounded rapidly. The company's profitability in 2009 has been greatly improved. Besides the industry's warming factors, another important reason is that the Yanda PTA project was put into operation in April 2009. After the PTA project was put into operation, the company has gone to a new level in terms of production scale, revenue, profitability and risk tolerance. A complete industrial chain of PTA- polyester spinning spinning was formed inside the company.

Since 2010, Macro economy The recovery trend has created a good external management environment for PTA and polyester polyester industry. The fluctuation of international oil price is relatively slow, which makes the price fluctuation of downstream related products (including PX, PTA, etc.) slow down, and the company's operating risk has been greatly reduced compared with that of the financial crisis.

The company's actual controller is Li Shuirong, the current chairman of the company. Before the issue, Li Shuirong accumulated 63.525% of the company's shares, including 47 million 650 thousand directly holding shares, accounting for 9.530% of the total shares, and indirectly holding 269 million 972 thousand and 750 shares through Rongsheng holdings, accounting for 53.995% of the total shares.