Previously, on the 2022 Hurun Global Rich List, Fan Hongwei and her husband Chen Jianhua ranked 48th, surpassing Yang Huiyan, who ranked 55th.
However, it is difficult to become the richest man. Hengli Petrochemical’s semi-annual report shows that the company’s short-term liabilities have reached 70 billion yuan, and the amount of guarantee for subsidiaries is as high as 166.377 billion yuan.
In fact, Fan Hongwei is a regular on the Forbes list. On the 2022 Forbes Global Billionaires List, her wealth is US$18.2 billion, ranking 88th, second only to Yang Huiyan among China’s richest people, and the second richest woman in China. In addition, she is also ranked 13th in the 2022 Forbes China Best CEO List and 7th in the 2022 Forbes China Outstanding Business Women List.
According to Hengli official website information and media reports, Fan Hongwei and Chen Jianhua can be regarded as starting from scratch.
When he was young, Fan Hongwei was an accountant in a textile factory in Suzhou; Chen Jianhua was an ordinary trader, dealing in chemical fibers and raw silk. After the two got married, they started their own business. In the 1990s, the collective weaving factory in Nanma Town, Suzhou was on the verge of bankruptcy. In 1994, Fan Hongwei and Chen Jianhua borrowed 3.69 million yuan to subscribe the factory and renamed it Wujiang Chemical Fiber Weaving Factory.
After Fan Hongwei and Chen Jianhua took over the factory, they carried out a series of measures to expand production, eliminated shuttle looms and introduced 1,200-spindle network cars. In 1995, it began to develop production by selling raw materials and sending out looms. Its family-type looms are located in 7 towns and towns in Jiangsu and Zhejiang. In 2020, Jiangsu Hengli Chemical Fiber Co., Ltd. was officially established, with a total investment of 2.2 billion yuan for the first phase of the project.
Starting from the textile industry, Fan Hongwei and Chen Jianhua have continued to expand upstream in the industrial chain and have been operating in the chemical industry for many years. Today, the Hengli Group industries jointly mastered by the two cover oil refining, petrochemicals, polyester new materials, etc., creating “crude oil-aromatics, ethylene-purified terephthalic acid (PTA), ethylene glycol-polyester (PET)-civilian It has a complete industrial chain of silk and industrial silk, engineering plastics, film-textile”, and owns listed companies Hengli Petrochemical, Songfa Co., Ltd., and Tongli Tourism, a new third-board company.
Hengli petrochemical products cover the upstream and downstream of the industrial chain, including refining products, PTA and polyester products. Since 2021, due to the continuous high and volatile prices of raw materials such as crude oil and natural gas, the slowdown in the growth of downstream industries such as real estate, textiles, and building materials, and the high cost and insufficient demand, the production and operation of Hengli Petrochemical and other related companies have faced considerable pressure. .
In the first half of 2022, Hengli Petrochemical handed over a semi-annual report that would increase revenue but not profit. From January to June 2022, Hengli Petrochemical’s revenue was 119.155 billion yuan, a year-on-year increase of 13.94%, and the net profit attributable to the parent was 8.026 billion yuan, a year-on-year decrease of 7.13%.