When 2020 Top 500 China Private Companies was released by All-China Federation of Industry and Commerce, Qixiang Tengda, the key chemical player of Cedar Holdings found itself ranking 311st on the list with RMB 30.057 billion in total revenue. The company took the 175th spot on 2020 Top 500 China Private Manufacturers that came out simultaneously.

According to the report researching and analysing the top 500 Chinese private companies, the threshold of making the list was raised to RMB 20.204 billion in revenue. The combined revenue of top 500 Chinese private companies reached RMB 30.17 trillion, 5.85% up from that of last year. Their sum of assets totalled RMB 36.96 trillion, 6.78% up from that of last year.

The report also shows the priority that Chinese central government gives to private companies' development. Encouraged, guided and backed by the government, the 500 high-fliers keep up their innovation and speeds up transformation and upgrade of their core businesses while adapting themselves to the local conditions of where they operate. They also play an active part in the key national strategy implementation on their path towads high quality growth.

With commodities plus technology as the engine of growth, Cedar Holdings has sped up innovation of new materials and technologies for high quality growth. Throughout 2019, Cedar Holdings continued to master key technologies that used to be foreign countries monopolies and introduced world-leading green technology into China. Qixiang Tengda brought in the world's most environmentally friendly PO process technology, built the first ADN mass production site in China, and built the INA plant with the largest production capacity within China.

Qixiang Tengda's Factory Park

Recently, Qixiang Tengda updated the progress of its important projects one after another. The construction of a 200 KTA NBR latex plant with an investment of RMB 680,000, is expected to form coordinated development with the company's existing chemical businesses. The phase I construction of the 200 KTA MMA production line is coming to an end, which could extend the company's C4 industrial chain even further.

Qixiang Tengda's MMA Production Line

As a C4 leader, Qixiang Tengda is moving up the chemical value chain by optimizing its business structure, extending its industrial chain, diversifying its products offerings and introducing cutting-edge technologies. An advanced chemical new materials industrial cluster has taken shape.

This explains why Qixiang Tengda was selected to be one of Fortune China 500 companies as well as the top 500 China private companies. On 2020 Fortune China 500 list released in July, Qixiang Tengda ranked 322nd, and 9th among its chemical peers.