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Industry News | Time: Nov 19 2019 3:33PM
A relocation project of reactive dyes of Runtu Group has implemented smoothly with 80% production capacity
 
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Recently, Zhejiang Runtu CO.,Ltd (002440) said on the interactive platform that the first phase of the company's 80kt reactive dyes relocation project had started trial production in Jun, and now the production capacity reaches 80%. This means that Zhejiang Ruihua Chemical Co., Ltd, a subsidiary of the company, is carrying out relocation project in accordance with the requirements of the corresponding standards, and the project is progressing smoothly.

Ruihua chemical, which is a branch of Runtu and has an annual output value of 30 million, was founded in Aug 2006. After more than 10 years of unremitting efforts and innovation, it has developed into a large-scaled reactive dye production enterprise with an annual sales revenue of about 1.455 billion yuan and an annual output ranking the first in the industry in 2018.

Ruihua chemical is also an important performance contributor of Runtu Group. According to the data, Ruihua chemical achieved an operating revenue of 1.455 billion yuan and a net profit of 225 million yuan in 2018. In the same period, the operating revenue of Runtu Group was 6.464 billion yuan, and the net profit was 1.313 billion yuan.

It is reported that in the past 10 years, through continuous technological innovation and equipment transformation, Ruihua chemical has developed a series of core technologies and key production processes, improving the level of safety and environmental protection equipment and management. However, due to the limitations of the original site planning in Daoxu street, the company has been unable to fundamentally solve the environmental dilemma.

Another background of the overall relocation of Ruihua chemical reactive dye project is that Shangyu district government issued the "Shangyu District chemical industry renovation and upgrading action plan" and "Shangyu District chemical industry transformation and upgrading action plan (2017-2020)" in 2016, further promoting the chemical industry transformation and upgrading, and accelerating the pace of one park cluster development of the chemical industry. According to the standard of "green safety, circulation and high efficiency", the first "57 standards for upgrading chemical industry" in Zhejiang has been issued, the "one park" renovation has implemented, and the centralized resettlement block of Shangyu economic and Technological Development Zone in Hangzhou Bay demarcated was defined. As a result, Ruihua Chemical Co., Ltd. was successfully included in the relocation enterprises.

Taking this relocation as an opportunity, relying on the policy advantage of Hangzhou Bay Shangyu economic and Technological Development Zone to build a hundred billion level new material industry cluster, Runtu Group promoted the upgrading of dye production process, started the overall relocation of Ruihua chemical industry to build a 100kt per year reactive dye project and a 116kt per year dye intermediate series project, laying a foundation for the long-term development of the company. Ruihua's high-grade reactive dye project with annual output of 100kt will be implemented step by step. The first phase of the project with annual output of 80kt is expected to be put into trial production in Jun 2019.

It is reported that the annual output of 100kt high-grade reactive dye project of Ruihua is in accordance with the requirements of the "new 57" standard, and is actively engaged in a new round of upgrading in the direction of "industrial recycling, product high-end, production cleaning and management informatization". The project has realized industrial chain matching, product high-end, production cleaning and management information, and created the first 5G + industrial Internet demonstration project in Zhejiang, which has become a new benchmark for Runtu Group to accelerate industrial transformation and upgrading.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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