China Hongqiao Group
| Private | |
| Headquarters | Binzhou, China |
|
Area served
|
Worldwide |
| Products | molten aluminum alloy, aluminum alloy ingots, aluminum alloy casting-rolling products and aluminum busbars |
| Website | hongqiaochina |
China Hongqiao Group, established in 1994, is the world’s largest aluminium company, after overtaking UC Rusal in 2015. Its Chairman and Executive Director, Zhang Shiping, is the 6th most prominent Chinese entrepreneur according to Forbes China and ranked 192 in the Hurun Report’s World’s Richest People’s list. Zhang Bo, Zhang Shiping’s son, is the Chief Executive Officer of China Hongqiao.
China Hongqiao started producing aluminium and electricity in 2002 and claims to have a production capacity of more than 4 million tons. The company’s subsidiaries include Shandong Weiqiao Aluminum Power Co., Ltd., Huimin Huihong New Aluminum Profiles Co., Ltd. and Hongqiao Investment (Hong Kong) Limited, among others. China Hongqiao’s unique business model, based on producing both electricity and aluminium, was initially deemed controversial, but then adopted by a large number of other Chinese aluminium companies. Various Chinese media outlets have stated that the company encouraged the development of policy reforms in China’s energy sector.
In July 1994, China Hongqiao, originally known as Shandong Hongqiao, was established. It was mainly engaged in the production and distribution of jeans and yarn-dyed denim at that time.
In December 2002, Aluminum & Power, specialized in thermal power generation, was established.
In June 2006, China Hongqiao acquired Aluminum & Power.
In September 2006, China Hongqiao started the production of aluminum products.
In 2007, the company’s production capacity reached approximately 301,513 tons per annum.
In March 2011, China Hongqiao was listed on the Hong Kong Stock Exchange at HK$7.2 a share. At this time, the company’s capacity was listed at 1.1 million tons.
At of the end of 2014, the company’s annual production capacity of aluminum products reached over 4 million tons, according to the company’s official numbers.
In March 2016, the company had reached a production capacity of 5.2 million tons per annum.
The production plants of Hongqiao in China are Weiqiao Aluminium and Electricity CO. LTD in Binzhou, Shandong Province.
In December 2012, China Hongqiao, in a joint venture with PT Well Harvest Winning Alumina Refinery, announced the investment of US$1–1.5 billion for the establishment of an alumina production company in Borneo, Indonesia with a planned annual production capacity of 2,000,000 tons.
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Wikipedia