On December 20, Sinopec Capital announced its investment in Hefei Huasheng Pumps & Valves Co., Ltd. （Huasheng Pumps & Valves）and built its presence in high-end petrochemical equipment.

This project has been jointly completed by Sinopec Capital and Hefei Innovation Sci-tec Venture Capital Co., Ltd..

Founded in Hefei in 2000, Huasheng Pumps & Valves is committed to developing key equipment in refining, ethylene, chemical fiber, fertilizer, coking and seawater desalination industries. It is a national high-tech enterprise integrating the research, development, production and sales of pumps and valves, and also a national “Little Giant Company” (According to the Ministry of Industry and Information Technology, little giant companies refer to leading SMEs that specialize in niche sectors, command a high market share, boast strong innovative capacity and core technologies). It is member of relevant standardization associations participating in the formulation of a number of industrial standards. Besides, it also serves as an important supplier of Sinopec. Its fluidized bed/suspended bed hydrogenation circulating pump and annular tube axial flow pump are the first domestically-developed pumps to break the prolonged foreign monopoly, while the former one has been awarded the seventh batch of Single Champion Product in National Manufacturing Industry.

The investment helps Sinopec Capital expand into key petrochemical equipment. Investment in high-tech petrochemical pump will help us solve stranglehold problems, break the monopoly of foreign technology, and promote the fulfilment of Sinopec Group’s localization strategy. It will also help Sinopec Group enhance its long-term competitiveness and the independency of its industrial chain.