Wanhua Chemical established a new company! The king of the hosiery industry expanded production by 550 million yuan, with an annual increase of 65 million pairs of cotton socks

Wanhua Chemical established a new company with 1.1 billion yuan!

According to the Qichacha APP, recently, Wanhua Chemical Group (Yantai) Olefins Co., Ltd. was established, and the legal representative is Bai Haitao, with a registered capital of 1.1 billion yuan. The business scope includes: sales of special equipment for oil refining and chemical production; sales of building materials; sales of machinery and equipment; sales of new catalytic materials and additives. According to the equity penetration of Qichacha, the company is wholly owned by Wanhua Chemical.

Saudi Arabia is likely to raise crude oil prices for Asia in September

Saudi Arabia is likely to raise the price of its crude oil sold to Asia for the first time in three months in September, traders said Thursday. The official selling price (OSP) of Arabian Light crude destined for Asia in September is expected to rise by 50-80 cents per barrel from the previous month, four refining industry sources said in a poll by Reuters. Five OPEC sources told Reuters that despite the recent sharp drop in oil prices, the committee is unlikely to make any changes to the current production cut agreement and begin to undo some of the production cuts since October.

Jilin Chemical Fiber with an annual output of 20,000 tons of bamboo fiber, acrylic fiber and other high-grade vortex spinning projects were put into operation

Recently, Jilin Chemical Fiber Group's annual output of 20,000 tons of high-grade vortex spinning project was officially put into operation. The annual output of 20,000 tons of high-grade vortex spinning project will start construction in September 2023, which is an important project for the adjustment of Jilin's chemical fiber product structure, promoting the market development of 45 high-end yarns, acrylic yarns and bamboo fiber yarns, and realizing the integrated development of the industry.

The project adopts international advanced vortex spinning machines and pre-spinning equipment, and is equipped with an intelligent logistics system, which has the characteristics of high-end, intelligent, green and modern spinning factory. For a spinning project of the same scale, the vortex spinning process only needs about 150 people, while the traditional process requires 1,500 people, and the area is only 1/4 of the traditional process.

During the year, 13 new and continued projects of Jilin Chemical Fiber, including 10,000 tons of ultra-fine denier continuous spinning, 30,000 tons of high-performance carbon fiber, 150,000 tons of Huarong and Zhulier transformation projects, have been put into operation one after another. In addition, the construction of 60,000 tons of carbon fiber, 50,000 tons of biomass new rayon projects and carbon fiber "zero carbon" industrial parks is accelerating.

Hosiery industry giant Wang Jiansheng Group expanded production by 550 million yuan in Viet Nam, increasing annual output of 65 million pairs of cotton socks

Recently, Jiansheng Group announced that the company's wholly-owned subsidiary, JASAN GLOBAL PTE. LTD. entered into a "Sale of Capital Transfer Contract" with Jinxing Cloth Industry Co., Ltd. to purchase 100% equity of the target company held by Jinxing Cloth Industry for US$10,276,000 (about RMB 74.29 million).

The target company has a land use right of 104,742 square meters in CN1 Parcel No. 1, Bao Minh Industrial Park, Ng Dinh District, Nam Dinh Province, Viet Nam, which is valid until December 14, 2060. The company will invest in the construction of an annual output of 65 million pairs of high-end cotton socks, 2,000 tons of spandex elastic thread and 18,000 tons of yarn dyeing production project in Nam Dinh Province, Viet Nam, with a total investment of 550 million yuan, of which the fixed asset investment is about 505 million yuan and the working capital is 45 million yuan.

It is reported that in 2023, Jiansheng Group will achieve sales of 330 million pairs of cotton socks and 26.63 million pieces of seamless products, the company's main service customers and brands are UNIQLO, PUMA, DECATHLON, UNDERARMOUR, BOMBAS, GAP, BONDS, ADIDAS, etc., and the main sales markets are Europe, United States, Japan, Australia and China.

lululemon-backed Australian plastic recycling startup has completed more than 400 million yuan in Series A+ financing

Samsara Eco, an environmental technology innovator, recently announced that it raised $65 million in its latest funding round, led by global investment firm Temasek and Australia's deep technology investment fund Main Sequence, along with a group of new and existing backers, bringing Samsara Eco one step closer to eliminating plastic waste and ensuring it never ends up in landfills or incinerated again.

The capital will help Samsara Eco expand its enzyme recovery capacity and establish new commercial facilities in Southeast Asia in the coming years. These facilities will recycle millions of tonnes of plastic waste, such as discarded textiles and packaging, to produce tens of thousands of tonnes of monomers (the molecular building blocks of plastics) that will be transformed into entirely new products, creating a true circular loop.

Since its launch in 2020, Samsara Eco has led the world's first-of-its-kind innovation in infinite recycling, pioneering the recycling of plastics including nylon 6,6 and polyester. Earlier this year, Samsara Eco collaborated with its first textile partner to launch the world's first enzyme-recycled nylon 6,6 product and helped launch lululemon's first product made from enzyme-recycled polyester.

Belle took over the management rights of Allbirds, an innovative footwear brand in United States, in China for 10 years

It is reported that the exclusive right to operate the footwear brand Allbirds in the Chinese market was officially taken over by Belle Group last month, with a 10-year authorization period, including the distribution business of retail, online and wholesale channels, which has officially taken effect. Allbirds is expected to lay off employees in the Chinese market, and its six directly operated stores in China plan to change hands to Belle or close, and the e-commerce stores are being handed over one after another. In addition to retaining the DTC model in the United States market, the brand has successively switched from DTC to distribution in four markets: Canada, Korea, Australia and Japan.

According to the Hong Kong stock prospectus submitted by Belle, as of November 30, 2023, the company's revenue was 16.1 billion yuan, a year-on-year increase of 12.8%; net profit was 2.1 billion yuan, a year-on-year increase of 92.7%. It is worth mentioning that in recent years, Belle has been aggressively acquiring the signing and exclusivity rights of sports and outdoor brands. Since 2023, the subsidiary Taobo has successively established cooperation with brands such as HOKAONEONE, KAILAS, and norda. At the same time, in the Chinese market, Belle is also the exclusive distribution partner of choice for Allbirds.

In the first half of the year, Uzbekistan's textile exports exceeded 1.5 billion US dollars

According to official statistics, Uzbekistan exported $1.5 billion of textiles to 55 countries in the first half of 2024, a year-on-year decrease of 5.3%. The main components of these exports are manufactured goods, which account for 38.1 per cent of total textile exports and yarn for 46.2 per cent.

During this six-month period, yarn exports reached $708.6 million, up from $658 million last year. However, the export value of finished textiles decreased to $584 million from $662.6 million in 2023. The export value of knitted fabrics was $114.1 million, compared to $173.9 million in 2023. According to domestic media reports, fabric exports were valued at US$75.1 million, down from US$92.2 million in the previous year, and socks exports were valued at US$20.5 million, down from US$31.4 million in 2023.

Edit | Huarui Information New Media Team

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