Basic Overview of SINOPEC Yangzi Petrochemical Co., Ltd.
Full Name: China Petrochemical Yangzi Petrochemical Co., Ltd. (hereinafter referred to as "Yangzi Petrochemical")
Establishment Date: September 1983 (formerly Yangzi Petrochemical General Plant, renamed and restructured into the current company on December 22, 2006)
Headquarters Address: No. 28, Gaoke 1st Road, Jiangbei New District, Nanjing City, Jiangsu Province
Type of Enterprise: Subsidiary of a central state-owned enterprise (wholly state-owned), a wholly-owned subsidiary of China Petroleum & Chemical Corporation (Sinopec)
Listing Status: Formerly an A-share listed company (stock code: 000866), delisted in 2006, and absorbed and merged by SINOPEC Yangzi Petrochemical Co., Ltd. in 2007
Company Size (2023-2024)
Revenue: RMB 79.736 billion in 2023, RMB 76.251 billion in 2024 100 Million Yuan
Industry Positioning: A leading domestic integrated refining and chemical enterprise, a core enterprise in East China, and an important refining and chemical base of Sinopec.
Overall Industry Status: A major domestic producer of refined oil products, basic chemical raw materials, and synthetic materials; its production capacity and market share of products such as benzene, paraxylene, ethylene glycol, and butadiene rank among the top tier in China.
Development History
1. Plant Construction/Establishment Stage (1983-1990)
In September 1983, Yangzi Petrochemical Company was established as a key project of the "Sixth Five-Year Plan" and "Seventh Five-Year Plan," with its core being a 300,000-ton/year ethylene project.
Construction began in 1984, and full production commenced in 1990, laying the foundation for integrated refining and chemical production.
2. Capacity Expansion and Technological Breakthrough Milestones (1993-2010)
From 1993 onwards, three rounds of large-scale technological transformation were implemented, resulting in a continuous leap in production capacity and technological level.
In 2000, Yangzi Petrochemical-BASF (Yangzi-BASF Company, 50%) was established through equity participation. (Shareholding), introducing internationally advanced technology and management experience
At the end of 2007, acquired Taizhou Petrochemical and Qingjiang Petrochemical, extending the industrial chain and improving the regional layout.
3. Restructuring, Reorganization, Listing, and Equity Change Milestones (1998-2007)
In 1998, asset restructuring was carried out, establishing Yangzi Petrochemical Co., Ltd. (main business) and Yangzi Petrochemical Co., Ltd. (public works).
In 2006, Yangzi Petrochemical Co., Ltd. was delisted; in October 2007, it was absorbed and merged by Sinopec Yangzi Petrochemical Co., Ltd., achieving full ownership by the group.
4. Latest Major Projects, Strategic Implementation, and Technological Breakthroughs in the Past 3 Years (2023-2025)
Capacity Upgrade: Promoting the optimization of the 800,000 tons/year ethylene unit and the supporting transformation of the 12.5 million tons/year oil refining unit, consolidating scale advantages.
Technological Breakthrough: Successfully mass-producing EVA semiconductive shielding material UE1930TK in 2025, breaking the foreign monopoly and achieving import substitution of cable materials; accumulating 441 authorized patents, and winning the National Science and Technology Progress Award. 14 Items
Green and Low-Carbon: Completed a digital circulating water energy-saving renovation project, reducing carbon emissions by 12,300 tons annually; awarded National Green Factory and Healthy Enterprise status
Intelligent Manufacturing: Completed a 5G factory, promoted 5G+AI full-scenario applications, and was selected as a typical case of "5G + Industrial Internet" by the Ministry of Industry and Information Technology
Equity Structure & Organizational System
1. Controlling Shareholder and Group Level
Controlling Shareholder: China Petroleum & Chemical Corporation (100% owned), a core second-tier subsidiary of China Petrochemical Corporation
Group Level: China Petrochemical Corporation → China Petroleum & Chemical Corporation → Yangzi Petrochemical (wholly owned)
2. Subsidiary and Investee Company Layout
Table: Company Name Shareholding Ratio Business Division Functional Positioning
Qingjiang Petrochemical 100% Petroleum refining, refined oil sales Refining base in northern Jiangsu region, supplementing refining capacity
Taizhou Petrochemical 100% Aromatics, chemical raw material production Supply of fine chemical intermediates, extending the aromatics industry chain
Yangzi Petrochemical Company 50% High-end chemicals, polymer production International Joint Venture Benchmark, Core Platform for High-End Chemicals
Yangzi Xintema: Equity stake in C5 resin production, specializing in niche markets for specialty resins.
Yangzi Yinglishi: Equity stake in acetic acid and derivatives production, supplementing basic organic raw materials and perfecting the industrial chain.
3. Production Base Layout
Nanjing Headquarters (Core Base): 12.5 million tons/year of oil refining, 800,000 tons/year of ethylene, 1.4 million tons/year of aromatics, 59 large-scale units, a core integrated refining and chemical base.
Qingjiang Petrochemical (Huai'an, Jiangsu): Oil refining and refined oil production, radiating to the northern Jiangsu and eastern China markets.
Taizhou Petrochemical (Taizhou, Jiangsu): Aromatics and fine chemical raw materials, connecting with the Yangtze River Delta fine chemical industry belt.
Core Business System
1. Main Business Segment Division
Petroleum Refining Segment: Crude oil processing, refined oil (gasoline, diesel, jet fuel) production and sales.
Basic Chemical Raw Materials Segment: Ethylene, propylene, benzene, xylene, ethylene glycol, PTA. 2. **Synthetic Materials Segment:** Polyethylene, Polypropylene, Synthetic Rubber, Polyester Products
**Fine Chemicals and Joint Ventures Segment:** High-end Chemicals, Specialty Resins, Industrial Gases (Operated by Investee Companies)
**2. Core Information of Each Business Segment (2023)**
**Table:** Business Segment | Function | Revenue Share | Business Model
**Oil Refining:** Crude Oil Processing, Refined Oil Supply | Approx. 45% | Centralized Sales + Self-operated, Connecting with Sinopec's Sales System
**Basic Chemical Raw Materials:** Core Chemical Intermediate Production | Approx. 35% | Direct Sales + International Trade, Covering the Yangtze River Delta, National Markets, and Export Markets
**Synthetic Materials:** Polyolefins, Polyesters, and Other Synthetic Materials | Approx. 15% | Direct Sales + Distributors, Serving Downstream Processing Enterprises
**Fine Chemicals and Joint Ventures:** High-end, Specialty Chemical Products | Approx. 5% | Joint Venture Operation + Technological Cooperation, Focusing on High Value-Added Areas
**3. Industry Chain Positioning**
**Midstream Core:** Core Link of Refining and Chemical Integration, Upstream Connecting with Crude Oil Procurement (Sinopec Group Unified Procurement +...) (International Procurement), downstream applications cover refined oil products, basic chemical raw materials, and synthetic materials, extending to fine chemicals and end-use materials, forming a complete closed-loop industrial chain.
Main Products
1. Product Categories + Sub-categories + Uses
Refined Oil Products: 92#/95# gasoline, 0#/-10# diesel, jet fuel; used for transportation and industrial fuel
Olefins: Ethylene, propylene, butadiene; core raw materials for synthetic resins, rubber, and chemical fibers
Aromatics: Benzene, p-xylene (PX), o-xylene; raw materials for polyester, plastics, and dyes
Polyester Raw Materials: PTA, ethylene glycol (MEG); used for producing PET polyester, fibers, and bottle chips
Synthetic Resins: Polyethylene (PE), polypropylene (PP), EVA; used for packaging, building materials, cables, and injection molded products
Synthetic Rubber: Butadiene rubber, styrene-butadiene rubber; tires and rubber products
2. Flagship/Specialty/Exclusive/High-Margin Products
Flagship Products: Benzene, p-xylene, ethylene glycol, butadiene; leading domestic production capacity and market share
Specialty Products: EVA Semiconducting shielding materials, cable-specific polyolefin materials; core products for import substitution
Exclusive products: some high-end polyolefin-specific materials, special C5 resins; technological monopoly in niche markets
High-margin products: PTA, ethylene glycol, high-end EVA, special rubbers; high added value, core profit drivers
3. New products / R&D / Future incremental products
New products: EVA semiconducting shielding materials, high-transparency PP, cable-specific PE materials
R&D: biodegradable plastics, high-end polyolefin elastomers, green low-carbon chemical intermediates
Future incremental products: new energy materials (photovoltaic-grade EVA, lithium battery electrolyte raw materials), bio-based chemicals, high-end medical materials
Production capacity and strength
1. Core equipment capacity (2025)
Refining: 12.5 million tons/year (top 10 in China)
Ethylene: 800,000 tons/year (top 5 in China)
Aromatics: 1.4 million tons/year (pure benzene, PX, top tier in China)
PTA: 1.05 million tons/year, ethylene glycol 300,000 tons / Annual capacity, butadiene 210,000 tons/year
Industry Ranking: Top 5 in China for integrated refining and chemical production, ethylene and aromatics capacity ranked first in East China
2. Production Line Level
Domestic Production Rate: Over 90% domestic production rate for core equipment, key equipment is independently controllable
Automation Level: Full coverage of 5G + Industrial Internet, intelligent control system (DCS), robot inspection, intelligent warehousing, benchmark enterprise for intelligent manufacturing
3. Location and Supporting Advantages
Location Advantages: Nanjing Jiangbei New Area, the Yangtze River's golden waterway + Beijing-Shanghai Railway + expressway network, the core economic circle of the Yangtze River Delta, radiating East China, Central China, and South China
Logistics Support: Own Yangtze River wharf, dedicated railway line, and highway transport fleet, a "four-way" logistics system, low transportation costs and high efficiency
Park Support: National-level Jiangbei New Area Chemical Industrial Park, centralized supply of public utilities (water, electricity, steam, gas), complete environmental protection and safety facilities
Market Layout and Sales System
1. Domestic Market Layout
Core Region: Yangtze River Delta (Jiangsu, Shanghai, Zhejiang) (Revenue share approximately...) 60%), East China, Central China, South China
Core Customers: Sinopec Sales Company, CNPC, CNOOC, downstream plastics/chemical fiber/rubber processing enterprises, power/transportation industry
2. Export Business
Export share: Approximately 10%-15%, increasing year by year
Main export regions: Southeast Asia, Middle East, Europe, Africa; Core products are ethylene glycol, benzene, PTA, and synthetic resins
3. Sales Model
Unified Sales: Refined oil products are sold uniformly by Sinopec Sales Company
Self-operated: Chemical raw materials and synthetic materials are sold independently, directly connecting with end customers
International Trade: Export business is jointly operated by Sinopec International Trade Company and the self-operated international trade team
Direct Sales: High-end special materials and specialty products are directly connected with major downstream customers
Core Market Competitiveness
1. Group Platform Competitiveness
Central Enterprise Backing: A wholly-owned subsidiary of Sinopec, with strong financial strength and low financing costs; enjoying national petrochemical industry policy support and priority in energy supply
Resource Synergy: Sharing Sinopec's crude oil procurement, technology research and development, sales network, and logistics system, resulting in significant synergistic effects across the industrial chain
2. Technological Barrier Competitiveness
Patent Barrier: 441 authorized patents, core processes (ethylene, aromatics, PTA) with independent intellectual property rights
Domestic Production Breakthrough: Key equipment and catalysts are domestically produced, breaking foreign monopolies; leading technology in high-end products such as EVA cable materials
R&D Strength: National-level enterprise technology center, industry-academia-research collaboration, continuously launching new import-substituting products
3. Product Differentiation Competitiveness
High-end: Focusing on high-end polyolefins, specialty rubbers, and new energy materials, with significant import substitution potential
Scarcity: Concentrated production capacity of products such as benzene, PX, and ethylene glycol, with strong regional scarcity
Customization: 48 new plastic product grades, with specialty materials accounting for over 70%, meeting downstream segmented needs
4. Cost Competitiveness
Scale Advantage: Significant scale effect of integrated refining and chemical production, unit cost lower than the industry average
Location Advantage: Core location in the Yangtze River Delta, low logistics costs, close to the consumer market
Cost Reduction Across the Entire Industrial Chain: Closed-loop industrial chain from crude oil to end materials, controllable costs in intermediate links
Green and Low-Carbon: Energy-saving renovation, green electricity substitution, continuous optimization of energy costs
5. Production Capacity Competitiveness
Industry-Leading Production Capacity: Ethylene 800,000 tons/year, aromatics 1.4 million tons/year, leading enterprise in East China
Large-scale production: 59 large-scale units, annual capacity exceeding 9 million tons, strong stable supply guarantee capability
6. Supply Chain and Channel Competitiveness
Stable Customer Base: Long-term cooperation with major domestic downstream customers, high customer loyalty
Export Channels: Sinopec International Trade + independent export, covering major global markets, strong risk resistance
Closed-loop industrial chain: Upstream crude oil → Midstream refining → Downstream chemicals/materials → End-use applications, stable and controllable supply chain
Core Value, Industry Position, Core Barriers
1. Core Value
Core asset of Sinopec's integrated refining and chemical industry, core force in ensuring energy and chemical supply in the Yangtze River Delta; with scale + technology + location + full industrial chain as core value, continuously leading the high-end, green, and intelligent transformation of the domestic petrochemical industry
2. Industry Position
First tier in China: Top in comprehensive refining and chemical strength 5. Leading ethylene and aromatics production capacity in East China; leading domestic market share in benzene, ethylene glycol, butadiene, and other products; a benchmark state-owned petrochemical enterprise with strong industry influence.
3. Core Barriers
Policy Barriers: State-owned enterprise qualification, petrochemical industry entry barriers, energy supply guarantee policy support
Scale Barriers: Hundreds of billions of yuan in assets, tens of millions of tons of refining and chemical production capacity, difficult for new entrants to replicate
Technological Barriers: Core process patents, high-end product technology monopoly, continuous R&D investment
Location Barriers: Core location in the Yangtze River Delta, Yangtze River port + railway logistics advantages, unreplicable
Industry Chain Barriers: Sinopec Group collaboration + its own closed-loop industry chain, significant supply chain stability and cost advantages.
