Gaochun Chemical Industry Plant flexible foam unit renamed after Foam Division. Mr. Rui Jinggong was the Director. Leading 12 workers, he acquired the plant which was in loss and started the undertaking.
With Nanjing Economy Committee’s approvement, the Foam Division renamed after Nanjing Polyurethane Chemical Industry Plant, as a dependent accounting enterprises belonging to Gaochun County Chemical Industry Plant.
With Nanjing System Reform Committee’s approvement, Nanjing Polyurethane Chemical Industry Plant was reformed and Nanjing Hongbaoli Co. Ltd. was founded, hence had independent legal person qualification, and to be one of the first experimental joint-stock companies in Nanjing City.
Hongbaoli Company started a new undertaking, which emblemized the company’s striding forward from the basis of “being strong” to “being larger”.
The annual production of 20,000 tons of isopropanolamine was completed and put into production in nanjing chemical industrial park.
The red polaroid A unit (stock code 002165) was listed on the shenzhen stock exchange.
A post-doctoral research station was established.
More than 400 employees were added to the restricted stock incentive scheme.