On 2020 Fortune China 500 released on July 27, Qixiang Tengda, a new chemical company of Cedar Holdings ranked 322nd with total revenue of RMB 30.057 billion and 9th among its chemical players. This is the third year that Qixiang Tengda found itself on the list.

The Fortune China 500 corporations for this year report RMB 50.5 trillion in revenues (up 11%) and RMB 4.2 trillion in profits (up 16%).

In recent years, Qixiang Tengda has made substantial progress in safe and green production upgrade and transformation of growth drivers and key technology breakthroughs, which bring in high quality development. That's why the company is recognized as one of Shandong Extraordinary Enterprises, Top 10 Shandong Private Enterprises and Top 10 Shandong Advanced Chemical Companies.

In 2019, Qixiang Tengda has dramatically picked up its pace in world-leading technology acquisition, high value-added fine chemicals manufacturing, and quality growth of new chemical materials. An industry cluster featuring advanced new chemical materials has taken shape.

In July 2019, Qixiang Tengda signed agreements with Evonik and ThyssenKrupp, two top-notched international companies from Germany, to introduce the most environmentally friendly PO technology in the world. One month later, the construction of Tianchen Qixiang production site of nylon and new materials with an annual output of 1 million mt was launched, which was jointly invested by Qixiang Tengda and China Tianchen Engineering Corporation (TCC). Once completed, it will become the first ADN project of China and, break western countries' monopoly of ADN technology.

Qixiang Tengdda made the Fortune China 500 again thanks to its extraordinary achievement for 2019. It didn't rest on its laurels but rose to the challenges imposed by the extremely complicated economic environment from the start of 2020 and made breakthroughs one after another.

On April 9, 2020, Qixiang Tengda signed an INA technology licensing agreement, aiming to build China's largest INA plant. Once completed, the plant will be able to further process C4 and extend the C4 value chain for Qixiang Tengda. This will enable the company to provide high value-added and diversified products. On June 5, 2020, China Securities and Regulatory Commission gave Qixiang Tengda greenlight to issue RMB 2.99 billion convertible bonds. Qixiang Tengda plans to raise fund for the construction of PDH unit with an annual capacity of 700,000 mt.

Currently, Qixiang Tengda has four advanced chemical new material units and anxillary facilities either planned or under construction: MMA unit (200,000 mt/year), PMMA unit (100,000 mt/year), PDH unit (700,000 mt/year), PO unit (annual capacity of 300,000 mt/year) and INA unit (200,000 mt/year). After completion, they are expected to significantly boost Qixiang Tengda's revenue and profit.