East Hope Group Co. Ltd. <br /> 东方希望集团
| Private, non-listed company | |
| ISIN | 🆔 |
| Industry | Metals, Chemicals, Agriculture |
| Founded 📆 | 1982 |
| Founder 👔 | Liu Yongxing (刘永行) |
| Headquarters 🏙️ | Shanghai, People's Republic of China |
Area served 🗺️ | PRC, Singapore, Vietnam, Indonesia, Cambodia |
Key people | Chairman: Liu Yongxing |
| Products 📟 | Aluminum, alumina, PVC, cement, animal feed |
| Members | |
Number of employees | 24,000 |
| Subsidiaries | more than 150 in various industries |
| 🌐 Website | [1] |
| 📇 Address | |
| 📞 telephone | |
East Hope Group (Chinese: 东方希望集团; pinyin: dōngfāngxīwàngjítuán) is one of China's largest pioneering private companies. Active in the non-ferrous metal, chemical and agriculture industries,[1] its principle business revolves around the production of aluminum, alumina, PVC, cement, and animal feed. The company runs two aluminum smelters in China – Baotou Aluminum Smelter in Inner Mongolia[2] and Xinjiang East Hope aluminum smelter in Xinjiang Province.[3] Other production plants are located in Singapore, Vietnam, Indonesia[4] and Cambodia.[1]
Founded in 1982 by Liu Yongxing in Shanghai, East Hope Group was the 14th largest aluminum producer in the world (2014), with an output of 1,399 KT,[5] making it the fifth largest in China behind Hongqiao, Chalco, CPI, and Xinfa.[6]
Liu was ranked #18 on the Forbes China Rich List with a net worth $6.7 billion,[7] and #99 on Bloomberg's Billionaires Index, where his net worth was estimated to be $11.6 billion (as of 30 January 2017).[8] He has three brothers, all of which feature on the list of Chinese billionaires and are running their own companies: Chen Yuxin, owner of West Hope Group; Liu Yonghai, founder of New Hope Group; and Liu Yongyan, founder of Continental Hope Group.[9]
Company History[edit]
East Hope Group's foundations were laid when the four brothers established Hope Group in 1992 in China's Sichuan Province, following a pooling of resources and a foray into the feed business. In 1995, the company was divided into four separate entities, with Liu Yongxing retaining parts of the agricultural business while at the same time expanding into the heavy chemical industry and spawning East Hope Group in the process.[10]
Three years later, in 1998, East Hope Group relocated from Sichuan to its current headquarters in Shanghai.
Recent Developments[edit]
Capacity Expansion[edit]
Xinjiang[edit]
After beginning construction in 2011, East Hope's aluminum smelter in Xinjiang Province reached full production capacity in 2012, increasing yearly output from 500,000t to 800,000t compared to the previous year.[11] Capacity was further increased by 50% in 2016 to 1.2 million t, after expansion plans at the smelter were halted in 2015 due to unfavorable market conditions.[12]
Shanxi[edit]
In 2012, East Hope Group revealed plans to invest 39 billion Yuan into the construction of a large aluminum production base in Lingshi county, Shanxi Province. The plant is slated to have a yearly capacity of 3 million tons once full capacity is attained, producing aluminum hydroxide and other chemical products.[13]
Henan Province[edit]
In 2012, East Hope obtained a license for bauxite mining at the Shuiquanwa mine in Sanmenxia, Henan. The mine is believed to yield 300,000 t of bauxite per year.[13]
Inner Mongolia[edit]
In early 2016, the Group announced its intention to invest $1.5 billion into a new major project in Baotou.[14] According to an East Hope official, the firm already operates a number of plants, including an aluminum smelter and, as of 2015, a silicon metal smelter in that area.[15] This announcement came at a time when the Chinese leadership had already been trying to reduce the overcapacities in China's ferrous and non-ferrous metal industries.[16][17] However, Chinese aluminium manufacturers disputed that overcpacity was a serious problem.[18]
Local party officials have since inquired about the adherence to safety standards at an East Hope research center in Baotou.[19]
Unauthorized Capacity Construction[edit]
In 2011, East Hope was ordered by China's Ministry of Environmental Protection to shut down its alumina refinery in Sanmenxia, Henan Province, after the ministry found the plant to be in violation of its approved capacity of 700,000t per year. Without seeking further authorization from the authorities, the company had installed an additional 400,000t worth of capacity, along with two extra phases in the construction of alumina capacity and four power generators. Subsequently, the company was fined 100,000 Yuan and was forced to shut down all excess capacity.[20][21]
Environmental Issues[edit]
East Hope Group has been subject to multiple violations of law over the years for breaching environmental regulations, leading to fines, curbing of production and forced system upgrades. Punishments were handed out in 2014,[22] 2015[23] and 2016,[24] for transgressions including excessive SO2, NOx and dust emissions of the Group's plants in Shandong, Xinjiang, Henan and Inner Mongolia.
On 15 December 2016, at least two people were killed when a red mud reservoir at East Hope's Sanmenxia plant failed. Four months prior to the accident, amid another red mud spill incident in the province, local government initiated inspections of East Hope facilities' safety and approved its full compliance with the standards.[25] Thus far, the company has not been held accountable for the toxic spill.
Illegal Drugs in Animal Feed Production[edit]
On 5 March 2017, East Hope was included in a "gray list" for using prohibited substances, mostly antibiotics and other unspecified substances used in veterinary medicine, in its animal feed production business.[26] The list now includes 23 companies cited for similar abuses that are placed under more stringent supervision by the authorities. [27]
References[edit]
- ↑ 1.0 1.1 "公司简介 (Company Introduction)". Retrieved 25 January 2017.
- ↑ "East Hope – Baotou Aluminium Smelter". Industry About. Retrieved 30 January 2017.
- ↑ "Xinjiang East Hope aluminium smelter". WookMackenzie. Retrieved 30 January 2017.
- ↑ "East Hope Group Co Ltd". Bloomberg. Retrieved 30 January 2017.
- ↑ Bell, Terence (21 November 2016). "The Biggest Aluminum Producers 2014". TheBalance.com. Retrieved 30 January 2017.
- ↑ "Key Figures". Aluwatch.org. Retrieved 30 January 2017.
- ↑ "Forbes China Rich List". Forbes. Retrieved 20 January 2017.
- ↑ "Bloomberg Billionaires". Bloomberg. Retrieved 30 January 2017.
- ↑ "The 1980s: legend of wealth". China.org. 27 October 2008. Retrieved 30 January 2017.
- ↑ Yuan, Hannah (11 May 2016). "China Eats So Much Pork These Feed Producers Became Billionaires". Bloomberg. Retrieved 26 January 2017.
- ↑ Bray, E. Lee (2012). "Aluminum" (PDF). 2011 USGS Mineral Yearbook: 5.
- ↑ "East Hope completes Xinjiang Al expansion to 1.2-mil mt/year" (PDF). Platts Metals Daily. 5: 4. 2016.
- ↑ 13.0 13.1 "East Hope Group launches aluminum hydroxide project in Shanxi" (PDF). Alumina & Aluminum Monthly. Antaike. 185: 18. 2012.
- ↑ "China's East Hope Group to Invest US$1.5 bn in Inner Mongolia". Aluminium Insider. 14 March 2016. Retrieved 20 January 2017.
- ↑ "Wang Zaitian: Combining enterprise with regional advantages will promote healthy development of the silicon metal Industry". Asian Metal. Retrieved 30 January 2017.
- ↑ "China pledges cuts, but aluminum capacity grows". The Sentinel. 16 September 2016. Retrieved 30 January 2017.
- ↑ "China moves to reduce non-ferrous metal overcapacity". Xinhua. 16 June 2016. Retrieved 31 January 2017.
- ↑ "China vows to cut aluminum output, but producers plan growth". Jakarta Post. Retrieved 13 February 2017.
- ↑ "包头市委书记张院忠到东方希望包头希铝调研". news.cnal.com (in 中文). 2016-12-13. Retrieved 2017-04-07.
- ↑ "China ministry orders East Hope alumina units in Henan to shut". Reuters. 27 May 2011. Retrieved 30 January 2017.
- ↑ "行政处罚决定书(东方希望（三门峡）铝业有限公司)". Ministry of Environmental Protection of the PRC. 23 May 2011. Retrieved 31 January 2017.
- ↑ "环境保护部组织开展APEC会议空气环境质量保障督查". Ministry of Environmental Protection of the PRC. 28 October 2014. Retrieved 31 January 2017.
- ↑ "德州市2015年4月大气污染物新标准执行情况汇总表". Shangdong Bureau of Environmental Protection. Retrieved 31 January 2017.
- ↑ "市环保局关于德州市2015年环境保护大检查社会公开汇总公开". Dezou Municipal Government. Retrieved 31 January 2017.[dead link]
- ↑ "三门峡渑池发生局部意外滑坡 已致2人被埋死亡". 163/NetEase. 16 December 2016.
- ↑ "东方希望等23家饲料厂被列入滥加违禁药"灰名单"". www.chinadaily.com.cn. Retrieved 2017-04-07.
- ↑ "东方希望等23家饲料厂被列入滥加违禁药"灰名单" - 全省 - 全景山东 - 鲁网". sd.sdnews.com.cn. Retrieved 2017-04-07.
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