Hengtong () or Hengtong Group is a China's largest power and
fiber optic
An optical fiber, or optical fibre, is a flexible glass or plastic fiber that can transmit light from one end to the other. Such fibers find wide usage in fiber-optic communications, where they permit transmission over longer distances and at ...
cable manufacturer.
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.
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.
History
The company was founded in 1991 and in 2003 was listed on the
Shanghai Stock Exchange
The Shanghai Stock Exchange (, SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock ...
.
Hengtong Group was one of the first businesses in its province to establish a Communist Party branch within its organization.
When it was established, Hengtong Group founder Cui Genliang stated his view that "Communism is a productive force."
Hengtong Group's characterizes its core business mission as "serve the people and devote to society," a reference to
Mao Zedong
Mao Zedong pronounced ; traditionally Romanization of Chinese, romanised as Mao Tse-tung. (26December 18939September 1976) was a Chinese politician, revolutionary, and political theorist who founded the People's Republic of China (PRC) in ...
's speech ''
Serve the People
"Serve the People" () is a political slogan and the motto of the Chinese Communist Party (CCP). It originates from the title of a speech by Mao Zedong, delivered in September 1944.
The slogan became popular in the United States due to the strong ...
''.
Corporate structures
Hengtong Group has 70 subsidiaries.
Joint ventures
In 2010, the company formed Jiangsu OFS Hengtong Optical Technology Co., a joint venture with
OFS, a US subsidiary of
Furukawa Electric, to manufacture optical fiber preforms.
In 2012, the company announced a joint venture in Brazil with local cable manufacturer, Brascopper, to establish a manufacturing facility for fiber optic cable in
Mato Grosso do Sul
Mato Grosso do Sul ( ) is one of Federative units of Brazil, Brazil's 27 federal units, located in the southern part of the Central-West Region, Brazil, Central-West Region, bordering five Brazilian states: Mato Grosso (to the north), Goiás and ...
.
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.
Hengtong purchased a 51% in Huawei Marine Networks (a joint venture with
Global Marine Systems
Global Marine Group is a British-headquartered specialist provider of installation, maintenance and repairs of submarine communications cable, submarine communications cable for the telecommunications, oil & gas and deep sea research industries. ...
of the UK from 2008), due to U.S. sanctions on Huawei.
Amid sanctions, Huawei plans to sell its submarine cable business to Hengtong
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References
External links
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Chinese brands
Manufacturing companies based in Suzhou
Companies established in 1993
Companies listed on the Shanghai Stock Exchange
Wire and cable manufacturers
1993 in Suzhou