Zhejiang Zhink Group

What Zhejiang Zhink Group does

Zhejiang Zhink Group is a privately held Chinese industrial conglomerate founded in 1997 and headquartered in Hangzhou, focused on the PET (polyethylene terephthalate) and textile manufacturing value chains. Its core operating subsidiary, Wankai New Materials (万凯新材, ChiNext: 301216), is among the global top-tier producers of bottle-grade PET resin, operating the only single-set PET production equipment in China's industry exceeding 600,000 tons and reaching 3 million tons of total PET capacity in 2023. Downstream operations include Jinhua Jinkai Zhisu's 6 billion-units/year APET direct-drinking container line and 30,000 tons/year optical-grade BOPET film line, serving global food and beverage packaging customers. Upstream, the Sichuan Zhengdakai New Materials industrial park in Dazhou Xuanhan uses natural gas as feedstock to produce ethylene glycol and electronic-grade DMC, integrating the group into petrochemical intermediates.

The group operates additional businesses across textiles (thin elastic fabrics, differentiated polyester-nylon fibers, eco-friendly colored polyester yarn, functional high-end yarn via Zhink Textile in Xiaoshan and Shandong Zhink in Zaozhuang), real estate development (Nuode Wealth Center and the Nuode Zhilian Center "hundred-billion project" in Hangzhou), private equity fund management (Hangzhou Chengkai targeting new materials and advanced manufacturing), and supply chain/trading services. Production bases span Zhejiang, Chongqing, Shandong, Jinhua, and Sichuan, with products distributed across more than 100 countries and regions. Revenue approaches 40 billion RMB on a headcount of roughly 4,000, with Chairman Shen Zhigang as founder and controlling principal.

Zhink's revenue model is primarily B2B industrial materials sales (PET resin, ethylene glycol, APET/BOPET packaging, fibers, and yarns) supplemented by asset-light streams including PE fund management fees, real estate sales, and integrated supply chain/logistics services. The vertically integrated structure spans natural gas feedstock through petrochemical intermediates, PET resin, packaging films, and finished textile products, supported by direct enterprise sales, regional production-base distribution, and an international trading platform formalized through Zhink International (2023). The company sells into three primary customer segments — global food and beverage packaging companies, downstream polyester/chemical fiber manufacturers, and international fashion and textile brands — without disclosed named-account concentration.

Name

Zhejiang Zhink Group

Legal name

浙江正凯集团有限公司 (Zhejiang Zhink Group Co., Ltd.)

Website

https://zhink.cc

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Zhejiang Zhink Group is a privately held Hangzhou-based industrial conglomerate producing bottle-grade PET resin (3M tons/yr via listed subsidiary Wankai New Materials), ethylene glycol, APET/BOPET packaging, textiles, and real estate, serving global food & beverage, chemical fiber, and textile brand customers across 100+ countries.

Ownership category

akta.pro rank

Product category

PET and Polyester Manufacturing

NAICS

Petrochemical Manufacturing (32511), Resin and Synthetic Rubber Manufacturing (32521), All Other Textile Product Mills (31499)

SIC

Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820), Industrial Organic Chemicals (2860), Unsupported Plastics Film & Sheet (3081), Textile Mill Products (2200)

akta.pro primary industry

Polyesters & PET Chain (PTA, MEG, PET) (IMAEADAG)

Keywords

• PET materials manufacturing
• Chemical fiber production
• Polyester resin supply
• Textile manufacturing
• Ethylene glycol production

Headquarters

HQ city

Hangzhou

HQ country

China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. PET Materials Sales: Production and sale of bottle-grade PET materials and PET packaging products (APET containers, BOPET films) to global food and beverage packaging companies
2. Chemical Products: Ethylene glycol and downstream chemical products (DMC, oxalic acid, liquid ammonia) from Sichuan Zhengdakai project
3. Textile and Fiber Products: Production and sale of thin elastic fabrics, differentiated fibers (polyester-nylon composite), green environmental fiber dyed polyester yarn series, and functional high-end yarns
4. Supply Chain/Trading Services: Raw material procurement, product distribution, logistics services, supply chain management, price risk management, and overseas market channel development for polyester industry chain
5. Private Fund Management: Investment management services focused on new materials and advanced manufacturing sectors including new energy, semiconductors, 5G communications, new building materials, medical equipment, and energy conservation
6. Real Estate Development: Development of commercial real estate including hotels, high-end offices, and fully furnished apartments (Nuode Zhilian Center project)

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Zhejiang Zhink Group is a vertically integrated industrial group that manufactures and sells bottle-grade PET resin, ethylene glycol, APET containers, optical-grade BOPET films, differentiated chemical fibers, thin elastic fabrics, and functional yarns. Its subsidiary Wankai New Materials operates the only single-set bottle-grade PET production facility in China exceeding 600,000 tons, with total PET capacity reaching 3 million tons in 2023. The group also operates real estate development, private equity fund management focused on new materials, and trade/supply chain services across the polyester industry chain.

Product overview

Zhejiang Zhink Group is a modern industrial group focused on PET and textile manufacturing, with upstream-downstream integrated operations. The core portfolio includes: (1) PET Materials Division featuring 万凯新材 (Wankai New Materials, 301216.SZ) as the flagship bottle-grade PET producer with 3 million tons annual capacity, 金华锦凯智塑 producing APET containers (6 billion units/year) and optical BOPET films, and 四川正达凯先进智造产业园 producing ethylene glycol and electronic-grade DMC; (2) Textile Division producing thin elastic fabrics, differentiated fibers, and functional yarns; (3) Supporting businesses including technology R&D services, real estate development (诺德智联中心, 诺德财富中心), private equity fund management targeting new materials, and trade services across the PET supply chain. The group operates vertically integrated from raw materials to finished products across PET packaging, chemical intermediates, and textile sectors.

Differentiator

Problem solved

Functional benefit

Brands

• 万凯新材 (Wankai New Materials): Listed subsidiary specializing in PET packaging materials, bottle-grade PET resin production. 2023 capacity reached 3 million tons, making it the only company in the industry with single-unit bottle-grade PET production facilities exceeding 600,000 tons.

Quantifiable outcome

• 3 million tons PET production capacity achieved in 2023
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Dazhou Xuanhan GovernmentcoreStrategic or Co-development Partner · 1 January 2021Sichuan Zhengdakai Advanced Manufacturing Industrial Park established in Dazhou Xuanhan, responding to the new round of east-west collaboration. Project uses natural gas as raw material to build an eco-industrial cluster.
• Chongqing Fuling Industrial ParkcoreStrategic or Co-development Partner · 1 January 2019Launched Chongqing Wan Kai 1.2 million ton PET project in 2019, establishing a major production base in the Chongqing Fuling industrial park for PET manufacturing serving global markets.
• International Equipment SupplierscoreTechnology or IntegrationZhink Group partners with international leading equipment suppliers for production technology. The company imports international advanced forming and biaxial stretching process equipment for PET film production and optical-grade BOPET manufacturing.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Hengyi Petrochemical: China's largest privately controlled PTA–polyester integrated producer, headquartered in Hangzhou/Xiaoshan. Operates a near-identical polyester value chain (PTA → PET resin → filament/textile) with comparable Zhejiang footprint, making it the closest direct Chinese peer for Zhink's PET and textile segments.
• Tongkun Group: One of China's largest polyester filament and PTA producers, also based in Zhejiang. Competes directly with Zhink/Wankai in the polyester/PET value chain and shares the same end-market exposure to global fiber and packaging customers.
• Indorama Ventures: Thai-listed global leader in PET resin and integrated polyesters with the world's largest bottle-grade PET capacity. Directly competes with Wankai for global beverage-grade PET contracts and serves as the international benchmark for PET scale economics.
• Hengli Petrochemical: Liaoning-based integrated petrochemical major operating PTA, polyester filament, and engineered polymer capacity. Comparable vertically integrated PET value chain and ambition to move into specialty polyesters, even though the operating geography is northern rather than coastal.
• Nan Ya Plastics: Taiwan petrochemical subsidiary of Formosa Plastics Group with integrated PTA, PET resin, polyester filament, and downstream textile operations. Highly comparable polyester value chain and presence in the Greater China PET/fiber market.
• Rongsheng Petrochemical: Zhejiang-based integrated refining and petrochemical major with substantial PTA, MEG, and PET operations through its Zhejiang Petrochemical project. Comparable upstream-to-midstream integration and Zhejiang operating base make it a direct peer for Zhink's full-chain ambitions.
• Alpek: Mexico-based global PET and polyester producer with major U.S., Mexican, and Brazilian assets. Competes head-to-head with Wankai in international bottle-grade PET markets and offers a comparable polyester integrated business model.

Broad incumbents

• Reliance Industries: India-headquartered oil-to-polyester giant with one of the world's largest integrated polyester/PET complexes. Comparable integration level and product overlap, but operates at much greater scale and includes upstream refining and oil production.
• SABIC: Saudi-listed global petrochemical giant producing MEG, polyesters, and related intermediates at massive scale. Comparable upstream chemical footprint (ethane-to-EG-to-PET) but with substantially broader product breadth and a state-owned shareholder base.
• Eastman Chemical: U.S.-listed specialty chemicals incumbent with substantial PET, polyester, and chemicals operations. Overlaps with Zhink on PET resin and ethylene glycol chemistry but operates a much broader specialty chemicals portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Zhejiang Zhink Group