China Hongqiao Group, Ltd. is an aluminium producer originally called Shandong Hongqiao. Founded by Zhang Shiping in China in 1994, it began as a denim producer in the Shandong province.
In 2006, the company purchased an aluminium and power thermal energy provider. Within the year, it transformed into an aluminium producer and quickly reached its production capacity of 301,513 tonnes the following year.
The company manufactures busbars, molten alloy, and aluminium alloy ingots at three manufacturing plants – Weiqiao Manufacturing, Binzhou Manufacturing and Zouping Manufacturing.
The company has received a great deal of negative press relating to the significant carbon footprint left by its large-scale coal-powered industry. Multiple environmental guidelines have been violated in the company’s history, including illegal electricity production and the refusal to switch from coal-power under China’s governmental regulations.
As a result, the China Hongqiao Group announced in 2019 that they were relocating one-third of the company’s smelting capacity from Shandong province to Yunnan in an effort to cut their reliance on coal-fired power. The Yunnan-based industry would rely on hydropower, relieving the environmental effects the company has had on its community’s water and air pollution problem.
Zhang Bo, the company’s current CEO, is listed as one of China’s richest people, with a net worth of $4.8 billion. The company’s 2019 sales were listed as $13.6 billion.
- Family name: Zhang family
- Sector: Diversified Industrial Product
- Founded: 1994
- Founder: Zhang Shiping
- Country: China
- Company headquarters: Binzhou, Shandong
- CEO: Zhang Bo
- Revenue: US$6.8 billion
- Family ownership: 81.1%
- Employees: 65,076
- Website: http://hongqiaochina.com/
