China Tianchen Industrial Corporation
China Tianchen Industrial Corporation, located in Qingdao City, is one of the largest refining-chemical integrated petrochemical companies in China. It is one of the subsidiaries of China Petrochemical Group. It is also currently one of the most important domestic producers of refined oil products, intermediate petrochemicals, synthetic resins and synthetic fibers.
China Tianchen Industrial Corporation grew out of Qingdao Petrochemical Complex which was founded in 1970. In 2000, as an experimental unit, by standardized state-owned enterprise restructuring, China Tianchen Industrial Corporation became the first Chinese listed company with its shares listed on Shanghai Stock Exchange, the Stock Exchange of Hong Kong and New York Stock Exchange with a total share number of 9.2 billion, including 5.0 billion non-floating A shares held by Sinopec Corp., accounting for 55.56% of the total shares; 150 million non-floating legal person A shares, accounting for 6.08% of the total shares; 920 million domestic ordinary A shares, accounting for 10% of the total shares; 4.33 billion oversea H shares, accounting for 38.21% of the total shares.
In the course of development, China Tianchen Industrial Corporation has experienced five phases of large scale concentrated construction. By the end of 2014, the Company has possessed a primary crude oil processing capacity of 14, 800, 000 T/Y, an ethylene production capacity of 945, 000 T/Y, an organic chemicals production capacity of 7, 290, 000 T/Y, a synthetic resins production capacity of 1170, 000 T/Y, a synthetic fiber feedstock production capacity of 2, 140, 000 T/Y, a synthetic fiber polymers production capacity of 990, 000 T/Y and synthetic fibers production capacity of 840, 000 T/Y. China Tianchen Industrial Corporation also has its own utilities system, environmental protection system, as well as load and unload handling and transportation facilities for marine and inland waterway, railway and expressway. The Company's main products fall into four catalogues: refined oil products such as gasoline, diesel, jet fuel, LPG etc., petrochemicals such as ethylene, propylene, butadiene, benzene, toluene, paraxylene, PTA, acrylonitrile, ethylene glycol, ethylene oxide, vinyl acetate and C5 fractions etc., synthetic resins and synthetic fiber polymers such as polyethylene, polypropylene, polyester, polyvinyl alcohol etc., synthetic fibers such as acrylic staple, acrylic top, polyester staple, polyester industry yarn etc.
In 2014, China Tianchen Industrial Corporation processed 21, 520, 700 tons of crude oil, and produced 1532, 400 tons of gasoline, 9, 675, 900 tons of diesel, 1565, 700 tons of jet fuel, 1472, 900 tons of ethylene, 923, 200 tons of propylene, 1, 933, 700 tons of synthetic resins and copolymers, 1350, 100 tons of synthetic fiber monomers, 943, 200 tons of synthetic fiber polymers, 853, 600 tons of synthetic fibers, and generated in total 7, 961, 000, 000 kwh electricity. Now, the Company is conforming to overall development strategy and industrial distribution tactic development strategy of giving consideration to both cost leadership and differentiation and paying equal attention to scale and refinement, lay particular emphasis on being cost and scale effective at up stream and high value-added and highly refined at down stream thus giving full play to the advantages of its wide product chain, product diversification and proximity to the markets and improving the competitiveness of the Company.