Guangzhou (JLC), August 18, 2025--Hengli Petrochemical Co., Ltd. decided to merge two of its subsidiaries in Dalian City, according to a notice released by the company on August 16.
Through a board meeting, the company agreed to merge Hengli Petrochemical (Dalian) Refining & Chemical Co., Ltd. (hereinafter referred to as Hengli Refining & Chemical) with Hengli Petrochemical (Dalian) Chemical Co., Ltd. (hereinafter referred to as Hengli Chemical).
The decision was made with the intent of optimizing the company's management structure, increasing operational efficiency, improving resource allocation, and decreasing administrative costs.
After the merger is completed, Hengli Refining & Chemical will take over all the rights and obligations of Hengli Chemical whose registration will be canceled.
Hengli Refining & Chemical, founded in March 2014, had total assets of CNY113.47 billion up until the end of 2024. Last year, the company achieved revenue of CNY226.97 billion and reaped CNY1.98 billion in net profit attributable to its shareholders.
Meanwhile, Hengli Chemical, founded in December 2016, reported total assets of CNY70.58 billion. In 2024, the company had revenue of CNY42.11 billion and earned CNY2.37 billion in net profit.
