Recently, China Petroleum and Chemical Industry Federation and China Chemical Enterprise Management Association (CCEMA) published 2019 Top 500 China Petroleum and Chemical Corporations list. Qixiang Tengda, a core business majoring in new chemical materials under Cedar Holdings ranked 59th as a petrochemical company with diverse business with RMB 27,924,000,000 in annual revenue, 12 spots up from last year. It also ranked 31st among production and operation corporations, 8 spots up from last year.
According to China Chemical Industry News, companies listed among 2019 Top 500 China Petroleum and Chemical Corporations are the industry leaders. They prove to be irreplaceable in terms of industrial structure adjustment, economic transformation upgrade and economic development quality improvement.
On 2019 Fortune China 500 list released in July, Qixiang Tengda ranked 302nd, 32 spots up from the previous year. On 2019 Top 500 Chinese Manufacturers list published by China Enterprise Confederation (CEC) and China Enterprises Directors Association (CEDA), Qixiang Tengda ranked 269th, 37 spots up from last year.
Thanks to strong supports from Cedar Holdings, Qixiang Tengda is able to accelerate its high value-added fine chemical products development and quality expansion efforts in new chemical material sector. Not long ago, cornerstone laying ceremony of TCC nylon and new materials industrial base construction with an annual capacity of 1 million mt was initiated in Zibo Qilu Chemical Industrial Park. Once completed, it is expected to become the first ADN industrial production project in China.
Currently, Qixiang Tengda is working on technology breakthrough in key areas. It aims to become a world-class corporation covering the whole chemical industrial chain and thrust China fine chemical and new materials sector into the global top tier.