| Hengtong Group | |
| Type: | Public |
| Foundation: | Sino-Japanese Joint Venture Wujiang Miaodu Optical Cable Co., Ltd. |
| Founder: | Cui Genliang |
| Location: | Suzhou, China |
| Industry: | Power and fiber optic cable |
| Revenue: | 7.8 billion RMB (2012) |
Hengtong or Hengtong Group is a China's largest power and fiber optic cable manufacturer.[1]
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.[2]
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.[3]
The company was founded in 1991 and in 2003 was listed on the Shanghai Stock Exchange.
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's speech Serve the People.
Hengtong Group has 70 subsidiaries.
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.[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 in Mato 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. Hengtong purchased a 51% in Huawei Marine Networks (a joint venture with Global Marine Systems of the UK from 2008), due to U.S. sanctions on Huawei.[6]