Post Date：2026.09.16         Far Eastern New Century Corporation, the parent company, has been holding every link of the industrial chain in its own hands for over seventy years. As the flagship enterprise of the Group in Chinese Mainland, Yuanfang Industry (Shanghai) is the most critical baton in this cross century long march. From a single polyester factory to a vertically integrated system covering PTA, polyester, spinning, Far Eastern Dyeing&Finishing (Suzhou), the 30-year growth and expansion is a microcosm of the mainland's polyester and chemical fiber industry's transition from large-scale expansion to high-quality development and green transformation. Today, 30 years later, we will be fully equipped and set off again!

        1、 From zero to one scale is justice

        In September 1996, with the leading polyester core technology of the parent company in Asia and the vertically integrated industrial chain from petrochemicals to clothing in Taiwan, combined with the fact that the chemical fiber industry in mainland China had already begun to take shape, the government began to encourage foreign investment and technology introduction at an excellent time. Far Eastern Textile Industry (Shanghai) fell to the ground like a newborn. In December 1998, the first polyester production line with an annual production capacity of 120000 tons and self-designed research and development was completed and put into operation in the Xinghuo Development Zone of Hangzhou Bay, Fengxian, Shanghai. Its product positioning was aimed at the outbreak of the Chinese beverage market and the upgrading of textiles in mainland China.

        From 2002 to 2004, the company underwent large-scale expansion, with the production capacity of bottle grade chips increasing from an annual output of 60000 tons to 400000 tons. By 2008, the annual production capacity of polyester was 500000 tons, an increase of 4.3 times, and revenue increased by 6.7 times. Far Eastern Textile Industry (Shanghai) holds a 1/4 market share in the mainland market for bottle polyester chips and has become a core supplier of well-known soft drink packaging materials. In addition, in 2003, the group invested in the construction of PTA with an annual production capacity of 450000 tons, accounting for 70% of the cost of polyester, completing the key link of raw material self-sufficiency. In 2015, the annual production capacity of polyester film (A-PET) exceeded 130000 tons, ranking first in the Asian industry. The medical and health cotton ET-HYCAR reached E8 million tons, RPET reached 10 million tons, and the nylon 66 market was developed and expanded... Various polyester products shone brightly, not only connecting the technology and management of the group headquarters, but also benchmarking the chemical fiber market in mainland China.

        

 

 

        2、 Reshaping muscles and bones from quantity to quality

        

 

 

        In 2011, with environmental policies and capacity expansion, the gross profit margin of conventional polyester fibers decreased from 18% in 2007 to 8%, indicating that the era of relying on scale expansion has ended and a new era of relying on technological content and green value is beginning.

        Sensing that differentiated products are beginning to enjoy technological premiums, the group headquarters promptly launched a series of functional fiber products such as recycled rPET, antibacterial, flame-retardant, automotive materials, medical ET cotton, outdoor products NY66, etc., providing profit buffers and moats for the enterprise.

        The differentiation rate of fiber products in Far Eastern Textile Industry (Shanghai) will increase from the industry average of 25% to nearly 70% by the end of 2025. With the rise of healthy and fashionable lifestyle and sports trends, the company has also become a raw material supplier for high-end outdoor sports brands. The bulk product bottle grade polyester chips produced by the company have always been designated partners for well-known soft drink packaging materials due to stable product quality and high-quality after-sales service, with production and sales operations covering the global market.

        At the same time, located in Shanghai, the most developed and economically active city in mainland China, the business environment, environmental policies, and emissions of Far Eastern Textile Industry (Shanghai) must naturally meet the highest national standards. To this end, in 2011, CNY 30 million was invested to upgrade the wastewater treatment system; In 2015, an investment of CNY 60 million was made to convert energy from coal water slurry to natural gas, completing the transition to clean energy and becoming the first enterprise in Fengxian Development Zone to meet the new environmental protection standards; From 2020 to 2022, during the sudden outbreak of the epidemic, the company relied on the digital transformation of its intelligent system completed in 2019 for remote monitoring and automatic adjustment of process parameters. With less than 30% of its manpower, it leveraged 70% of its production capacity, and even saw a 8% increase in revenue that year, breaking through the situation calmly.

        3、 Cultural soul casting, cross-strait integration

        These fruitful achievements stem from a deeply ingrained corporate culture of "sincerity, diligence, simplicity, prudence, and innovation". They were brought from a small factory in Banqiao, Taipei to a factory in Fengxian, Shanghai, and have taken root in the integration of the two sides of the Taiwan Strait. With the integration model of "Taiwan and Mainland", Far Eastern Group not only retains its technological advantages, but also adapts to the mainland market in a down-to-earth manner, becoming a model for Taiwanese funded enterprises to successfully land in mainland China. In 2023, it was also named a "Model Enterprise for Harmonious Labor Relations in Shanghai".

        4、 Green and intelligent create new value

        

 

 

        Relying on the technology and services of its parent company Far Eastern New Century Corporation, Far Eastern Industries (Shanghai) has completed the transformation from a traditional chemical fiber manufacturer to a leader in the circular economy. TopGreen environmentally friendly fibers have gradually approached or even surpassed native polyester in key indicators such as strength, color fastness, and feel, deeply bound to international first-line brands, and through brand endorsement, enhanced their visibility in the environmental fiber market, making the market willing to pay a premium for environmental protection. This once again proves that the green transformation of traditional manufacturing industry is not a choice of whether to do it or not, but a practical problem of "how to do it".

        On the other hand, "intelligence" has also become a new threshold for competition in this industry. AI's intelligence scenario will enter the core links of process optimization, energy consumption control, flexible production scheduling, etc., fully integrate ERP, MES, WMS and industrial Internet analysis, realize the automation of the whole production chain from raw material warehousing to logistics tracking, improve production efficiency by about 30%, and reduce operating costs by about 20%. In other words, whoever completes the data driven continuous production first instead of experience driven manual intervention will have the pricing power in the next stage.

        Every round of transformation will eliminate a group of enterprises and also create a group of enterprises. Over the past 30 years, in the oil crisis, we have persevered in the transformation in the environmental storm, in the trade war calmly, and under the impact of the epidemic situation, we have become the hardest armor of Far Textile Industry (Shanghai), helping the company to continue its glory, and starting again towards the goal of "the global leader of Wuhan Far Eastern New Material technology"!

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