| Company type | Public |
|---|---|
| SSE:600487 | |
| Industry | Power and fiber optic cable |
| Founded | Sino-Japanese Joint Venture Wujiang Miaodu Optical Cable Co., Ltd. (October 1993 (1993-10)) |
| Founder | Cui Genliang |
| Headquarters | Suzhou,China |
| Revenue | 7.8 billion RMB (2012)[1] |
| Website | www |
Hengtong (SSE:600487) orHengtong Group is a China's largest power andfiber optic cable manufacturer.[2]: 14
It is listed as the 7th largest manufacturer in market research firm Integer's 2017 Top 100 Global Wire & Cable Producers and the only Chinese cable manufacturer to make the ranking's top 10.[3]
The company claimed the top spot with annual revenue growth of 46.5% from 2008 to 2012 in a report by the Association of Chartered Certified Accountants titled "China's Next 100 Global Giants", a ranking of Chinese businesses with the most global growth potential.[1]
The company was founded in 1991 and in 2003 was listed on theShanghai Stock Exchange.
Hengtong Group was one of the first businesses in its province to establish a Communist Party branch within its organization.[2]: 14 When it was established, Hengtong Group founder Cui Genliang stated his view that "Communism is a productive force."[2]: 14 Hengtong Group's characterizes its core business mission as "serve the people and devote to society," a reference toMao Zedong's speechServe the People.[2]: 56
Hengtong Group has 70 subsidiaries.[2]: 56
In 2010, the company formed Jiangsu OFS Hengtong Optical Technology Co., a joint venture withOFS, a US subsidiary ofFurukawa Electric, to manufacture optical fiber preforms.[4]
In 2012, the company announced a joint venture in Brazil with local cable manufacturer, Brascopper, to establish a manufacturing facility for fiber optic cable inMato Grosso do Sul.[5] Hentong will hold 51% of the JV, which was established to further the company's goal of expanding in Brazil and the rest of Latin America.[5]
Hengtong purchased a 51% in Huawei Marine Networks (a joint venture withGlobal Marine Systems of the UK from 2008), due to U.S. sanctions on Huawei.[6]