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Nantong Xingchen Selected as Model Enterprise of SASAC
Source: ChemChina Date: 2021-08-13

According to the List of Model Enterprises, Quality Projects and Exemplary Models of Management Benchmarking Action for Key State-owned Enterprises released by the State-owned Assets Supervision and Administration Commission (SASAC) under the State Council of China, Nantong Xingchen Synthetic Materials Co., Ltd. (“Nantong Xingchen”), a subsidiary of Bluestar, was selected as a model enterprise for its modern management with Chinese characteristics of systematic, standardized and efficient operation.

Since June 2020, the SASAC has organized the management benchmarking action. Through enterprise application, expert review and opinion soliciting, the “three benchmarks” were finally determined, including 200 model enterprises, 100 quality projects and 10 exemplary models, which have demonstrated the management of key state-owned enterprises.

Nantong Xingchen, a leading enterprise in eastern China, has engaged in manufacturing, R&D and sales of engineering plastics, bisphenol A, epoxy resins and other new chemical materials, with a total production capacity of nearly 500,000 t/a. Specifically, the production capacity of polyphenylene ether (PPE) reaches 50,000 t/a, making Nantong Xingchen the world’s second-largest producer in this area. The company’s annual sales revenue is nearly 5 billion yuan, with customers from across the globe including dozens of the world’s top 500 enterprises. What the company has produced are widely applied in automobiles, electronic appliances, home and other fields. In 2020, regarding the growth rate of main economic indicators such as “two profits and four rates”, coupled with its financial performance, Nantong Xingchen was in the forefront of Sinochem Holdings, maintaining a stronger competitive strength in the industry domestically.

Nantong Xingchen has vigorously implemented the requirements of SASAC’s “benchmarking against the world-class management standards” by designating 2020 as the “Year of Benchmarking Management” and using the “Four Elements of Enterprise Value Management” model as a guide to enhance its management. Regarding workplace safety, the company, under the promotion of Bluestar, has introduced the Qenos safety system. In accordance with the safety standardization requirements of Jiangsu Province, the Nantong-based company has continuously conducted the benchmarking and integration to improve the management system and operate it in a standardized, process-oriented, form-enabled and IT-based manner. In terms of lean management, Nantong Xingchen has benchmarked with advanced enterprises in the industry to implement lean production management, debottlenecking transformation, cost reduction and efficiency enhancement. It has improved the efficiency of plants, resulting in a 16%-50% reduction in energy consumption and the compound growth rate of 15% in production capacity. With the production and sales of epoxy, bisphenol A, PBT and PPE plants in full steam, the overall operation of some product lines has reached or exceeded the advanced level of the industry. With regard to strategic planning, the company has used benchmarking management tools to prepare its 13th Five-Year Plan development strategy. By analyzing demand, supply and benchmarking, it has formulated its strategic plan and “5565” business objectives, established strategic choices and initiatives, and continuously improved its strategic planning capabilities and overfulfilled its 13th Five-Year plan. In marketing, Nantong Xingchen has built a marketing management system featuring precision, efficient operation and scientific decision making, in an effort to meet customer needs. It has practiced the concept of creating value for customers and advocated full marketing. In making R&D innovations, the company has introduced best practices from outstanding companies and established an integrated product development system centering on market success and financial success.

Through comprehensive management improvements, Nantong Xingchen has taken an approach to continuously benchmarking against the best internal and external standards and developed a benchmarking-based information system for improving management, consisting of benchmarking enterprise information database, benchmarking execution database, continuous improvement database and performance evaluation algorithm database. Such efforts have ungraded Nantong Xingchen’s management system and capability.
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