Sinochem Group has been engaged in petroleum business operation for more than 60 years. The company's energy business consists of oil and gas exploration and development, petroleum trading, petroleum refining, warehousing and logistics, and distribution and retailing. Over the past decade, the company has been consolidating and improving its dominant position in international petroleum trade, vigorously expanding its core commodities and core business, and promoting the improvement of operational connotation, while accelerating the extension to the upstream and downstream of the petroleum industry, so as to continuously enhance its industrial base and sustainable development capability. At present, Sinochem Group has developed into a large-scale energy enterprise with internationalized characteristics, a complete industrial chain and outstanding marketing and service capabilities.
In terms of exploration and development, Sinochem Group established Sinochem Petroleum Exploration and Development Co., Ltd. in 2002, specializing in oil and gas exploration and development. Over the years, the production and reserve scale of Sinochem's oil and gas oil exploration and development business has been expanding, with oil and gas reserves rising steadily, oil and gas production growing rapidly, and the quality and structure of assets greatly improved. By the end of 2011, the Company had 23 oil and gas contract blocks in 10 countries, including Brazil, Colombia, the United Arab Emirates, Yemen, Tunisia, Ecuador, Peru, Syria, Indonesia, China, etc., basically forming a strategic development layout with the Middle East and South America as the core, and the remaining recoverable oil and gas reserves in equity amounted to 410 million barrels (oil equivalent), with an oil and gas production of 22.01 million barrels (oil equivalent) in equity in 2011. From 2002 to 2011, the company invested a total of US$6.5 billion in the upstream oil business and produced 82.59 million barrels of oil and gas (oil equivalent) from its equity.
In terms of oil trading, Sinochem Group has formed a strong capability of acquiring overseas oil resources by virtue of its good cooperative relationship with the governments of many oil-producing countries and their national oil companies, and has a crude oil production capacity of more than 30 million tons/year, with the varieties of crude oil from Saudi Arabia, Oman, Iraq, Bahrain, the United Arab Emirates, Yemen, Qatar, Angola, Vietnam, Syria, Indonesia, and Russia, etc. Sinochem has also been engaged in the oil trading business in China.
Sinochem Group maintains long-term cooperation with the world's major oil companies and related financial institutions in oil trading and risk management, and has formed a stable and extensive global sales channel by providing domestic and foreign customers with high-quality crude oil and specialized services based on its good reputation and advantages in business channels and technical means. While relying on long term contracts and spot purchases of overseas crude oil to meet the demand of China's domestic market, the Company actively conducts re-export sales to refineries in Southeast Asia, Europe and North America, vigorously expands its core commodities and core business, focuses on the development of advantageous varieties, and has become an important supplier of crude oil to quite a number of countries and regions, and has achieved substantial growth in its scale of operation and efficiency. Every year, the company exports over one million tons of high-quality products from Dalian Westpac Petrochemical Company Limited (WEPEC) on behalf of the company, and also engages in the import of jet fuel, naphtha, duty-free marine diesel and other light oils on behalf of the company and its own business. At present, the company's total global crude oil and refined oil products operation reaches 60 million tons, and the ratio of import to re-export is about 1:1.2.
In order to cope with the development of the oil trading business, Sinochem Group has been consolidating its cooperation with large international ship-owning companies, providing convenient and efficient chartering services for China's imports as well as for re-exports of oil products from third countries and expanding the scale of self-operated vessels through various methods such as time chartering of oil tankers. The company also expands the scale of self-operated vessels through various methods such as time chartering of tankers. At present, the number of VLCCs chartered and operated by the company has reached 9, and the company has initially established professional oil transportation service capacity.
In terms of petroleum refining, Sinochem's involvement in petroleum refining began in the late 1980s, and the company is the largest shareholder of China's first Sino-foreign joint-venture refinery, Dalian West Pacific Petrochemical Company Limited (WEPEC), which has a processing capacity of 10 million tons per year and is capable of processing crude oil. WEPEC is the first Sino-foreign joint venture refinery in China, with a crude oil processing capacity of 10 million tons/year, and is a fully hydrogenated refining enterprise capable of processing high sulfur crude oil. Its 10 million tons/year normalized pressure reduction unit, 3 million tons/year heavy oil catalytic cracking unit, 2 million tons/year heavy oil hydrogenation and desulfurization unit, 2 million tons/year diesel oil hydrotreating unit, 1.5 million tons/year hydrocracking unit, and 100,000 tons/year sulphur recovery unit are among the largest units with the single-set processing capacity in China at present. All of them are one of the largest plants in China with single-set processing capacity.
Sinochem Group invested in Sinochem Quanzhou Petrochemical Co., Ltd. 12 million tons/year refining project is located in Quanzhou City, Fujian Province, Quanhui Petrochemical Industrial Park, by the national refining planning as the "Twelfth Five-Year Plan" during the completion of one of the key projects put into operation. At present, Quanzhou Petrochemical project construction has made breakthrough progress, the environmental impact assessment report has been formally approved by the Ministry of Environmental Protection of the State, the project approval work has entered the final stage. The designed products of the project mainly include gasoline, diesel and various petrochemical products. Upon commissioning, the project will become one of the most market competitive refineries in the industry and will support the development of the Meizhou Bay Petrochemical Base in Fujian Province into a modern petrochemical base in China, contributing positively to the promotion of the upgrading of the national petrochemical industry, the construction of the Economic Zone on the West Coast of the Taiwan Straits, and the economic take-off of Fujian Province and the surrounding areas.
Sinochem Hongrun Petrochemical Co., Ltd. in which Sinochem Group has a stake, has a primary crude oil processing capacity of 5 million tons/year, and produces gasoline and diesel oil with a quality reaching the National III standard, and has another 176-kilometer heavy liquid chemical Huangdao--Weifang transmission pipeline and 4 million cubic meters of large-scale crude oil tanks under construction. process, which has entered the finishing stage.
Warehousing and logistics, at present, Sinochem Group Sinochem Group operation, under construction responsible for the management of petrochemical warehousing capacity of about 25 million cubic meters, the formation of a petrochemical warehousing and logistics network covering the Yangtze River Delta, the Pearl River Delta and Bohai Rim coastal river areas, as well as from 3,000-ton to 300,000 tons of various scales of the supporting dock system, the scale of commercial petrochemical warehousing ranked the forefront of China's It is the largest third-party petrochemical storage and logistics service provider with the strongest comprehensive service capability. 2011, the company's storage and transit volume exceeded 35 million tons.
In terms of distribution and retailing, Sinochem Group has made great progress in the construction of domestic refined oil products distribution and retailing network in recent years, and initially formed a layout covering the markets in North China, East China and South China. The Company has provided hardware facilities and operating qualification support for its distribution business by strengthening the development of oil depots for refined oil product distribution. The Company accelerated the development of gasoline stations, and the scale of the network of gasoline stations developed jointly with France's Total Group in the Bohai Rim and East China regions*** continued to expand. The gas station networks built independently in Fujian and Guangdong regions are progressing smoothly, while expanding the markets in Shandong, Shanxi, Anhui and Jiangxi. At present, Sinochem Group has nearly 400 gas stations, and its brand awareness and market influence have been expanding. Sinochem Group is the only centralized enterprise operating three major agricultural inputs, namely fertilizers, seeds and pesticides. With advanced technology, high-quality products and professional services, Sinochem Group is committed to developing into China's largest and the world's leading comprehensive service provider of agricultural inputs, and to contributing to food security and agricultural development in China and the world. Sinochem Fertilizer Holdings Limited ("Sinochem Fertilizer"), the flagship of Sinochem Group's fertilizer business, is the largest fertilizer supplier and distribution service provider in China, covering the whole industrial chain of resources, research and development, production, distribution and agrochemical services. It plays an important role in securing the supply of fertilizers in China and promoting the increase of crop production. China Seed Group Corporation, a subsidiary of Sinochem Group, is a national seed enterprise in China, which maintains the leading comprehensive strength in the country, and is committed to becoming "China's No. 1 and the world's first-class" integrated seed company in breeding, propagation and promotion and promoting the upgrading of China's seed industry. Sinochem Group is China's largest all-fertilizer seed, production, supply and marketing integrated operation of fertilizer enterprises, and in the pesticide research and development, production, sales and seed production, processing industry leaders. China Seed Group is a leading enterprise in China that integrates scientific research and development, production and operation of seeds and high-quality agricultural by-products. According to the scope of the main business of central enterprises approved by the State-owned Assets Supervision and Administration Commission, the main business of China Seed Group is: research and development, production and sales of crop seeds and seedlings; related agricultural production materials and agricultural products research and development, production and sales.
In 2007, approved by the State Council, Sinochem Group has reorganized two central enterprises, Shenyang Chemical Industry Research Institute and China Seed Group Corporation, which will further strengthen Sinochem Group's overall strength in the field of agricultural inputs.
Fertilizer business, one of the largest fertilizer producers in China - the company now holds seven fertilizer producers and participates in six, with products including nitrogen fertilizers, phosphorus fertilizers, compound fertilizers, potash fertilizers and new types of fertilizers, with an annual production capacity of more than 10 million tons. These enterprises are reasonably distributed in resource and consumer markets, and can conveniently supply fertilizers to all parts of the country. Meanwhile, Sinochem Fertilizer is also the producer of the largest and most complete range of fertilizers in China, covering a variety of large, medium and trace element fertilizers as well as BB fertilizers, organic and inorganic compound fertilizers, slow- and controlled-release fertilizers, and a wide range of special-purpose fertilizers and other new fertilizers.
China's Largest Fertilizer Importer--While strengthening its own production capacity, the company continues to strengthen its ability to purchase overseas sources of goods to ensure the supply of scarce resources and varieties in China. As China's largest fertilizer importer, with more than 60 years of international trade experience and strength, the company maintains good strategic alliances with major international fertilizer suppliers, forming a strong market position including bargaining power, market share and brand effect.
In terms of potash import, the company acts as an agent for potash products of major international potash suppliers such as Canadian Potash Company, Jordan Potash Company, BPC, etc., and actively participates in China's potash import negotiation, exerts industry influence, and plays a constructive role in maintaining the advantageous position of global "price depression" for the domestic potash and compensates for the gap of domestic potash resources, which has led to a significant improvement of the domestic potash resource, and has led to the development of a strong market position, including bargaining power, market share and brand effect. It has made up for the shortfall of domestic potash fertilizer resources and reduced the burden of farmers. In terms of phosphate fertilizer import, the company has long been the exclusive agent of Morocco and Tunisia for the import of diammonium phosphate. In terms of compound fertilizer imports, the company has established a long-term strategic cooperative relationship with YARA of Norway, and has been the exclusive agent for YARA compound fertilizer imports for more than 20 years, providing farmers with high-quality and efficient compound fertilizer products, and creating the first brand of imported compound fertilizer in China.
In terms of seed business, as a national seed company and China's only centralized enterprise integrating breeding, propagation and promotion with crop seed industry as its main business, Sinochem Group has continuously improved all links in the industry chain through the implementation of the development strategy of "highlighting research and development, upgrading production, and boosting marketing". By implementing the development strategy of "emphasizing R&D, enhancing production and promoting marketing", Sinochem Group has been continuously improving the core competitiveness of each link in the industry chain.
China Seed Group Corporation, a subsidiary of Sinochem Group, has developed into a large-scale seed industry group with a complete industrial chain integrating scientific research, production, processing, marketing and technical service after more than 30 years of development, and is mainly engaged in the business of seeds of corn, rice, vegetables and other crops, with a leading scale of operation in China. The company has been awarded AAAc grade by Dagong International Enterprise Credit Rating and AAA grade by China Seed Association, which further establishes the industrial status and competitive advantages of seed business.
As for the pesticide business, Sinochem Group's pesticide business covers all aspects of the industry chain, including product research and development, production of crude drugs, processing and packaging of preparations, product registration, brand marketing, etc., of which the development of patented pesticides takes a leading position in China. The scale of operation of the pesticide business ranks the forefront in China. In recent years, the company has accelerated the strategic expansion, and continuously strengthened the pesticide business industry chain, the company's holding Sinochem International has become the largest shareholder of Jiangshan shares, and Jiangsu Yangnong Chemical Industry Group has also carried out strategic cooperation, the industry influence and comprehensive strength has been further enhanced. Shenyang Research Institute of Chemical Industry (Shenyang Institute) and Zhejiang Research Institute of Chemical Industry (ZRCI) under Sinochem Group, as the two national pesticide research and development platforms, have the leading pesticide production capacity in China, and have undertaken more than 20 national scientific and technological research projects. It has undertaken more than 20 state-level scientific and technological research projects, and currently has 8 innovative products in the development stage. Shenyang Institute for China's pesticide R & D founder, for the development of China's pesticide industry has made outstanding contributions. Shenyang Institute is the National Engineering Research Center for Pesticides, the National Pesticide Quality Supervision and Inspection Center and the National Center for Safety Evaluation of New Drugs, with a new pesticide creation and development of the State Key Laboratory, with a comprehensive pesticide R & D system from the design and synthesis of chemical compounds, the development of the production process, the determination of biological activity and the development of application technology, the processing of the preparation, the safety evaluation until the commercialization of the development of perfect pesticide system. At present, more than 40% of the leading varieties of pesticides produced in China are developed and popularized by Shenyang Institute, and two self-created fungicide varieties have become the leading products in the domestic market. Shenyang Institute of Safety Evaluation Center and pesticide testing laboratory has successfully passed the OECD member of the Dutch government's GLP certification, to promote domestic pesticide chemical products to the international market will play a positive role in promoting.
Zhejiang Institute of Chemical Industry (ZICI) is the supporting unit of Zhejiang Base of National Southern Pesticide Creation Center and the largest scientific research and development institute in Zhejiang Province, which is mainly engaged in the research, development and production of new fluorine-containing pesticides, etc. ZICI's chemical business is based on import and export. Sinochem Group's chemical business is based on import and export trade and distribution services, and has established strong competitive advantages in the fields of fluorine chemicals, natural rubber, chemical logistics, petrochemical raw materials and pharmaceuticals. Sinochem Group has developed into a leading comprehensive service provider of chemical products in China, and plays an active role in promoting scientific and technological progress and safe, environmentally friendly and harmonious development of the chemical industry. In recent years, Sinochem Group has been actively engaged in the upstream and downstream extension of its industrial chain around a number of subsectors such as fluorine chemical, natural rubber, chemical logistics, etc., which has further enhanced its market position and competitive advantages. In the field of petrochemical raw materials and other trading and circulation areas with traditional advantages, Sinochem Group has continued to innovate the business model and enrich the business connotation, and the share of import and export of related products has continued to maintain its leading position in China. In the field of pharmaceuticals, through cooperation with world-renowned biopharmaceutical companies, we have improved our strength in the related fields.
For the fluorine chemical business, Sinochem Group's fluorine chemical business has formed a complete industrial chain integrating resource development (fluorite and hydrofluoric acid), R&D, production and sales. The company is a leading fluorine chemical manufacturer and the most complete supplier of ODS substitutes in China, with products covering ODS substitutes, fluoropolymers, fluorine-containing fine chemicals, etc., of which more than ten varieties, such as HFC-134a, ranked the first in terms of domestic and international market share. In terms of resource development, Sinochem Lantian Group Co., Ltd. under the company owns more than 30 million tons of fluorite ore reserves, which is among the top in the same industry in China, forming a resource base to support the long-term development of fluorine chemical business. In the field of research and development, the company provides environment-friendly, energy-efficient and green products through scientific and technological innovation to build green competitiveness and unique competitive advantages. A number of new material research topics are included in the National 863 Program, and the company has been entrusted by the Ministry of Industry and Information Technology to complete the research report on the 12th Five-Year Plan of Fluorine Chemical Industry. At the same time, the company actively promotes technical cooperation and introduction with domestic and foreign research institutes, universities and leading international fluorine chemical enterprises. The company has successfully cooperated with the U.S. Honeywell to develop the international leading new environmentally friendly product, HFC-245fa, which enhances the development potential in the field of energy-saving and environmentally friendly materials.
In the production chain, Sinochem Group owns a number of production bases for fluorine chemical products such as Taicang, Hangzhou, Xi'an and Shangyu. The company continuously improves its processes and has formed a series of ODS substitutes with leading technology and complete varieties. The production capacity of ODS substitutes has reached 120,000 tons, and the production capacity of fluoropolymers and fluorine-containing fine chemicals has reached 17,000 tons. In addition, through the establishment of a joint venture with Solvay of Belgium, the company has cooperated in the field of high-purity wet chemicals business to produce high-end fluorine chemical products, including electronic grade hydrofluoric acid, in order to meet the needs of the rapid development of China's high-tech industry.
In the marketing segment, the company implements brand strategy, and brands such as JINCOOL have formed a strong influence in the industry.
As for the rubber business, Sinochem Group has been operating rubber and rubber products for nearly 60 years, and its business involves all aspects of the industrial chain, such as natural rubber planting, production and processing, marketing and value-added services, and realizes globally integrated operation. The company is currently the largest and strongest rubber marketing service provider in China, and also a natural rubber industry service provider with strong core competitiveness in the international market, with resources spreading over Southeast Asia, West Africa and China's Hainan and Yunnan, and its market and major customers covering Asia, Europe and America. Sinochem International, a listed company controlled by Sinochem Group, has an annual sales volume of 800,000 tons of natural rubber, ranking first in China and second in the world in terms of market share.
In terms of resource acquisition, in addition to the merger and acquisition of EUROMA RUBBER (Malaysia), GMG (Singapore) and TBH (Thailand), Sinochem International has also acquired new planting and production resources in Africa, Southeast Asia and other regions, with an additional 100,000 hectares of natural rubber planting land reserve. In terms of long term resources, in addition to the traditional resources in Thailand and Malaysia, the company has focused on expanding the quality resources in Indonesia, becoming the largest supplier of Indonesian rubber in the Chinese market. At the same time, the development of resources in emerging markets in the Greater Mekong Basin, such as Myanmar, Vietnam and Cambodia, has also achieved significant results.
In terms of processing, the company continues to improve the global production capacity layout, currently has a processing capacity of 530,000 tons in West Africa, Southeast Asia and the main producing areas of natural rubber in Yunnan, Hainan, etc.; at the same time, to strengthen the development of new products, independent research and development of the TSR10CV constant viscose rubber has been certified by Michelin, following the TSR9710 and TSR5 into the top ten tire manufacturers in the international procurement sequence. It is another high-end product that has entered the purchasing sequence of the top ten international tire manufacturers after TSR9710 and TSR5.
In terms of marketing, the Company has improved its marketing service capability to downstream customers by building an overseas marketing platform in Singapore and supporting corresponding logistics capability. The company further strengthened strategic cooperation with international tire manufacturers, and signed long-term sales contracts with a number of top ten international tire manufacturers, the marketing scale continues to expand.
In terms of chemical logistics business, Sinochem International, a listed company controlled by Sinochem Group, maintains a leading position in the field of domestic chemical logistics services, with business involving shipping, multimodal transportation of container tanks, freight forwarding and warehousing, terminal storage tanks, etc., and possesses the largest fleet of liquid chemical ships and container tanks with the highest safety standards in China, which can provide customers with multi-level, high-efficiency and low-cost logistics overall solutions. It can provide customers with multi-level, high-efficiency and low-cost logistics solutions. At the same time, the company focuses on the environmental protection, health and safety (EHS) management of chemical logistics business, and its EHS management level is among the international advanced ranks.
In terms of shipping, Sinochem International is a leading domestic enterprise providing domestic coastal and riverine and international ocean-going liquid chemical transportation and ship management business. The company has established a comprehensive and efficient safety management system in accordance with the International Safety Management Code (ISM code), and has obtained the ISO9001-2000 quality management system certification from DNV. The company's vessels meet the inspection standards of major oil companies such as SHELL and BP and the International Chemical Distribution Association (CDI), and meet the strict qualification requirements of high-end market users, and it is the only shipowner in China that can carry high-end liquid chemicals, such as TDI (Toluene Diisocyanate) and MDI (Dimethylphenyl Diisocyanate), etc. As of the end of 2011, Sinochem International controlled and managed the vessels of the company, and it is the only shipowner in China that can transport liquid chemicals such as TDI and MDI. By the end of 2011, Sinochem International controlled 47 vessels with a capacity of more than 450,000 tons, increasing its domestic market share to 16%, and its market share in the high-end customer market to 61%. As one of the first liquid chemical shipowners licensed for cross-strait direct shipping, the company has become a leader in the transportation of liquid chemicals between Taiwan and the sea, relying on its asset scale and industry position, and actively contributing to the promotion of cross-strait cooperation and exchanges, as well as the maintenance of safety and stability of direct shipping. Meanwhile, on the basis of maintaining its regional market share, the company has opened up a new global route of Far East-South America-Middle East, gradually moving towards the goal of internationalization of shipping.
In terms of containerized tank logistics, Sinochem International is a leading domestic containerized tank logistics service provider. In recent years, based on the Chinese market, Sinochem International has been vigorously expanding its ocean shipping business and upgrading its management and service capability. The company now owns 4,600 container tanks, of which 25% are special tanks; its operation network covers key regions in China as well as major countries and regions in Asia, America, Europe and the Middle East. Sinochem International has further deepened the cooperation with Newport Company of the United States, and the scale of international business has grown rapidly, especially winning the global tenders of multinational companies such as BASF, Dow Chemical, OPTIMAL, etc., which has further enhanced the influence of the company's brand. Meanwhile, Sinochem International has signed a long term contract of marine transportation with the world's leading Maersk Line, optimizing the operation cost of container tanks; and passed the CDI-MPC Tank Container assessment of the European Chemical Distribution Association, becoming the first chemical logistics service provider in China to pass this type of assessment, thus enhancing its competitiveness in the international market.
As for terminal storage tanks, Sinochem International and Lianyungang Port Group have established Lianyungang Port International Petrochemical Warehousing Company and Lianyungang Port International Petrochemical Port Company, which are going to build three 50,000-ton liquid bulk terminals and about 800,000 cubic meters of tanks to provide chemical warehousing, bonded and terminal loading and unloading services, with a designed throughput capacity of about 5 million tons.
As for warehousing and freight forwarding, Sinochem International has national-level freight forwarding, customs clearance and other related qualifications, and has branches at major ports across the country. In addition, Sinochem International has fully qualified chemical warehouses in Tianjin, Dalian, Shanghai, Guangzhou and other major coastal cities, providing domestic and foreign customers with various chemical warehousing and logistics services, including containerized dangerous goods.
In the financial field, Sinochem Group provides a wide range of financial products and services to the market, and its subsidiaries, such as Foreign Trade Trust, Far East Leasing, Noonan Fund, and Zhonghong Life, have strong market position and industry influence in their respective fields. Sinochem Group is one of the central enterprises approved by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) whose main business includes hotel and real estate development and operation, mainly through its holding company listed in Hong Kong - China Jinmao (formerly Fangxing Real Estate).
China Jinmao adheres to the high-end positioning and boutique route, and focuses on development opportunities in first-tier cities and second-tier central cities with strong regional radiation capacity, as well as famous tourist scenic resorts, with its core business including the development and operation of urban complexes, Grade A offices and high-grade hotels, and it is a leading high-end commercial real estate developer and operator in China.
Currently, China Jinmao has entered 9 cities including Beijing, Shanghai, Shenzhen, Zhuhai, Sanya, Lijiang, Changsha, Qingdao, Chongqing, etc. The scale of holdings and operational efficiency of its high-end office buildings and hotels are in a leading position in China.
While focusing on the quality of development projects, the company pays more attention to the sustainable development of resources and environment, and incorporates the development of green and low-carbon buildings into its corporate strategy. In 2011, China Jinmao completed China's first voluntary emission reduction standard "Panda Standard" carbon trading project, and was the first Chinese enterprise to participate in the transaction. At present, 6 projects have obtained green building certification, 2 projects have been awarded the title of "National Demonstration Project", 4 projects have won the "National Jingrui Science and Technology Award", and the Beijing Jinmao Mansion Elementary School has become the first 3-star green school and LEED-SCHOOL dual-certified green school in China. Among them, Beijing Jinmao Mansion Elementary School became the first green school in China with three-star national green standard and LEED-SCHOOL dual certification.
Chinochem Group's "Jinmao" brand has been listed in the "China's 500 Most Valuable Brands" published by the World Brand Lab for seven consecutive years (2005-2011), with a brand value of about RMB 5 billion.
In terms of project development, the company has successively developed landmark commercial real estate projects such as Shanghai Jinmao Tower, Beijing Crescent World Trade Center, Shanghai Port International Passenger Terminal and Shanghai International Shipping Service Center. In addition, it has also developed a number of high-grade residential projects such as Beijing Jinmao Mansion, Shanghai Jinmao Yishu, Shanghai Zhangyang Riverside Court, Haiyi Villa, Zhuhai Every Room Garden, Lijiang Jinmao Xueshan Language, etc. It has also participated in undertaking the land level development of Changsha Meixi Lake International New Town project, and has accumulated rich experience in the project. The company has also successfully entered the Qingdao and Chongqing markets.
Changsha Meixi Lake International New Town Project, located in the core area of Changsha's Greater Heshi Pilot Zone, covers a total area of about 11,452 mu and includes many top-class businesses such as high-end residential buildings, super five-star hotels, 5A grade offices, serviced apartments, cultural and art centers, and science and technology innovation centers. According to the Hunan government's master plan for Meixi Lake International New Town, it will be built as "a national green low-carbon demonstration new town in China and a model new town for two-type society in central China".
Beijing Jinmao Mansion, with a total gross floor area of about 370,000 square meters, is regarded as a "superb prime land plot" in Beijing. Meanwhile, the introduction of the Second Experimental Primary School in Beijing has significantly increased the value of the product, and it has been awarded the champion of the sales of a single property in Beijing in 2011.
Shanghai Port International Passenger Terminal and Shanghai International Shipping Service Center, which are being developed by Sinochem Group, are located in the North Bund area of Huangpu River, forming a riverfront area twice the length of the Bund. Among them, Shanghai Port International Passenger Terminal is a comprehensive business development project integrating cruise terminal and commercial office, which will become the future shipping transportation hub of Shanghai. The Shanghai International Shipping Service Center focuses on the needs of shipping transactions and business, strengthens the business and supporting functions of shipping services, and realizes a modern office and commercial area featuring a shipping center. At present, the project has been listed as a major project in Shanghai, and has become a key project in Shanghai's strategy of building an international shipping center.
Located in Chongming Island of Shanghai, Jinmao Villa project is located in the area which is planned as one of the three major demonstration zones of low carbon economy practice to be constructed by Shanghai during the period of "Twelfth Five-Year Plan". Positioned as a high-end, low-density community, the project has a total construction area of approximately 170,000 square meters and a greening rate of more than 50%. In 2011, the project won the monthly sales champion of similar projects in Shanghai.
Sinochem Group is actively investing in the development of tourism real estate and other new products. The Jinmao Snow Mountain project in Lijiang, Yunnan Province, is built on the concept of "Pure Heart Resort" to create a high-end resort complex integrating a high-grade hotel, a boutique commercial street and low-density residences, which will become another important tourism and vacation resource in Lijiang City upon completion.
In terms of property leasing, the Company holds and operates three high-grade office buildings in Beijing and Shanghai. Among them, Beijing World Trade Center and Shanghai Jinmao Tower are both landmark buildings in the most central business districts in China, and their operating quality and occupancy rate have always been at the forefront of the market.
In Beijing, Brilliance World Trade Center is a new landmark building on West Chang'an Street, and its unique overall design style and high-end facilities are unique in Beijing's high-grade office market; Sinochem Tower, located in the busy section of West Chang'an Street, is a pure office building that combines intelligent office and humanized services. At present, both office buildings are fully leased, with rental levels at the forefront of the region.
In Shanghai, Jinmao Tower, located in the Lujiazui Finance and Trade Zone in Pudong, is one of China's landmark buildings and an example of the perfect combination of traditional Chinese architectural style and the world's high-tech construction technology. Its occupancy rate and rental level maintain a leading position in the region.
In the TOP20 list of China's top office buildings jointly released by the China Office Building Industry Association (COBIA) and the China Office Research Center (CORC) in 2011, Brilliance World Trade Center and Jinmao Tower were both selected, and China Jinmao became the only real estate company with two top office buildings in the list.
In terms of hotel operation, all seven high-end hotels held and operated by the company are located in prime locations and famous scenic spots in first-tier cities in China; in addition, the company is promoting the development and construction of two high-end resort hotels in Chongming, Shanghai and Lijiang, Yunnan Province.
Grand Hyatt Jinmao Hotel, located in the 88-story Jinmao Tower in the core area of Lujiazui, Shanghai, has won more than 100 domestic and international awards in the hospitality industry since its opening, and enjoys the reputation of the "No. 1 Luxury Hotel" in Shanghai by virtue of its high-end facilities and quality services.
The Westin Beijing Lufthansa Hotel, located in Beijing's Lufthansa business district, hosted many foreign heads of government and elites from the sports and business sectors, such as former U.S. President George W. Bush, during the Beijing Olympics. The hotel is widely acclaimed in the industry for its unique concept of "personalization, intuitive spirit and vitality".
In Shenzhen, the JW Marriott Hotel is one of the most luxurious five-star business hotels in the region, and has been recognized by the Shenzhen Convention and Exhibition Association as the "Best Hotel for MICE Tourism".
In Sanya Yalong Bay National Tourism Resort in Hainan, the Company owns two high-star resort hotels, Jinmao Ritz-Carlton Sanya and Jinmao Hilton Sanya, leading the local high-end market.
In addition, Renaissance Beijing Wangfujing Hotel, which is located on Wangfujing Street in Beijing, and Beijing Yishengyuan International Conference Center, which is situated in Shunyi District of Beijing, have been continuously improving their brand influence and market position year by year. Sinochem Group's financial business covers financial leasing, trusts, securities investment funds, life insurance, finance companies, financial futures and other non-banking financial business areas, and has built up a more complete framework for the development of non-banking financial business, and formed the "Far East Horizon Trust", "Foreign Trade Trust", "Nuotong Trust", "Nuotong Trust", "Nuotong Trust" and "Nuotong Trust". The company has established a complete framework for the development of non-banking financial business, and has formed the "Far East Horizon", "Foreign Trade Trust", "Noan Fund", "Zhonghong Insurance", "Guantong Futures", "Baoying Fund", etc., which are recognized as the most important financial companies in the industry. " and other brands with strong competitiveness and influence in the industry.
Financial leasing, in recent years, Sinochem Group's financial leasing business has been steadily leading the domestic industry. ("Far East Horizon"), a subsidiary of the Group, focuses on six major business areas, namely medical, printing, shipping, construction, industrial equipment and education, and adheres to the strategy of industrial operation and service, taking the development path of "marketing-style operation, specialized operation, composite approach, systematic operation and group promotion", and steadily promoting its financial leasing business. The company adheres to the strategy of industrial operation and service, and follows the development path of "marketing operation, specialized operation, compound approach, systematic operation and group promotion" to steadily push forward the development strategy and continuously improve the enterprise value. As the first domestic innovative financial enterprise listed overseas on the basis of financial leasing, Far East Horizon was successively included in the Hang Seng Hong Kong Chinese Enterprises Index (HSCC) and the Morgan Stanley Chinese Enterprises Index (MSCI) after its listing, which has gained a high degree of recognition from the capital market.
Far East Horizon now has about 5,000 customers, more than 11,000 projects and a team of 1,600 people, establishing its leading position in China's financial leasing industry.
In terms of trust business, Sinochem's specialized agency for trust business is China Foreign Economic and Trade Trust Company Limited (FETCO), with a registered capital of RMB 2.2 billion, which is one of the trust companies directly supervised by China Banking Regulatory Commission (CBRC).
By the end of 2011, the scale of trust assets managed by FTIT exceeded 230 billion yuan, and the scale of pooled trust products reached more than 120 billion yuan. While vigorously expanding its business, FTT has strictly controlled its business risks, and in 2011, FTT was awarded a supervisory rating of 2B (2010) by the CBRC.
The Wealth Management Center set up by FTT in 2011 has vigorously expanded its direct sales channels, and its high-end wealth management concept centered on "Five Elements of Wealth" has won the recognition of the industry and high-end customers, and the scale of direct sales and the number of customers have increased significantly. Recently, Foreign Trade Trust has obtained the qualification of stock index futures trading business, and the company's securities investment trust business has formally entered the field of financial derivatives investment.
In terms of securities investment funds, Sinochem Group has invested in two fund management companies, namely, Noan Fund and Baoying Fund. Among them, Noan Fund, of which Sinochem is the main sponsor, manages 18 open-ended fund products, and by the end of 2011, the total assets under management amounted to over RMB 46 billion.
Nuoan Fund's products have a complete range of styles, each with its own characteristics, and the open-end funds it manages cover equity, hybrid, index, bond and currency funds. In May 2008, the company was approved for QDII qualification and authorized to engage in overseas securities investment management business, and in January 2011, it successfully issued Guoan Global Gold Securities Investment Fund. The company is also one of the first fund companies to obtain the qualification of special account wealth management.
As for life insurance, China Grand Life Insurance Co., Ltd. is the first Sino-foreign joint venture life insurance company in China, established in November 1996 as a joint venture between Sinochem Group and Manulife Life Insurance (International) Limited, a subsidiary of Canada's Manulife Financial. The company now has nearly 15,000 employees and marketers, providing professional financial and insurance services to nearly 650,000 customers.
CAC has been operating in China's insurance market for more than 10 years and is committed to providing the public with sound, reliable, trustworthy and visionary insurance products and services. Currently, Zhonghong Insurance has been steadily developing in nearly 50 cities in Shanghai, Beijing, Guangdong, Zhejiang, Jiangsu, Sichuan, Shandong, Fujian, Chongqing, Liaoning, Tianjin and Hubei, and has maintained a leading position in terms of operating performance amongst joint venture life insurance companies.
In terms of finance business, Sinochem Finance is one of the finance companies directly supervised by the CBRC and was established in 2008. With the tenet of "relying on the Group, serving the Group, standardizing operation, innovating and exploring", Sinochem Finance provides professional and high-quality financial support and services around the Sinochem industrial chain and value chain, and has developed into a comprehensive financial service platform integrating the six functions of settlement service, financing service, financial intermediary service, value preservation and enhancement of financial assets, financial equity management, and risk management and control. It has developed into a comprehensive financial service platform integrating six functions: settlement service, financing service, financial intermediary service, financial asset value-added preservation, financial equity management and risk control.