Hengshen Carbon Fiber

What Hengshen Carbon Fiber does

Hengshen Carbon Fiber (江苏恒神股份有限公司) is a Chinese fully integrated carbon fiber and advanced composite materials manufacturer controlled by Shaanxi Coal and Chemical Industry Group, a Fortune 500 state-owned enterprise. Founded in 2007 in Danyang, Jiangsu and listed on China's NEEQ (New Third Board) under stock code 832397, the company operates the only domestic full carbon fiber industrial chain in China — spanning PAN precursor synthesis, wet spinning and dry-jet wet spinning, pre-oxidation, carbonization, surface treatment, sizing, fabric weaving, prepreg production, high-performance resin, and finished composite structural parts.

Its product portfolio covers high-performance carbon fibers across the full T300-to-T1100 strength range plus M40X-grade high-modulus fibers, in 3K to 50K tow variants, converted into bidirectional fabrics, multi-axial warp-knitted fabrics, prepreg systems (EH918/HF40, EM710 series, rapid-cure 5-10 minute systems), and AFP/ATL-manufactured aerospace structural components. Production capacity stands at 5,000 tons/year of carbon fiber, 15 million m²/year of fabric and prepreg, 1,200 tons/year of high-performance resin, and 5,000 tons/year of composite parts at Danyang, with a new wholly-owned Yulin (Shaanxi) subsidiary adding up to 20,000 tons/year of additional carbon fiber capacity.

Hengshen sells primarily through direct enterprise sales and project-based collaboration, targeting aerospace and defense (CASC Tier 1, COMAC for civil aircraft, CASC Fourth Academy), wind energy (Siemens Gamesa, Envision Energy, Shanghai Electric, Ming Yang Smart Energy for 111.5m blades), hydrogen storage pressure vessels, and emerging low-altitude economy and eVTOL customers (Xpeng Aeroht, Kunyu 1000 UAV). Revenue is generated through one-time materials sales, prepreg and fabric sales, composite part manufacturing, and supporting testing and technical consulting services. Pricing is quote-based B2B per project and volume with no public tiers; the company actively participates in international exhibitions (JEC World, SAMPE China, China Composites Expo) and is embedded in national-level certification programs with CAAC Shenyang.

Name

Hengshen Carbon Fiber

Legal name

江苏恒神股份有限公司

Website

https://hscarbonfibre.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Hengshen Carbon Fiber is a Chinese fully integrated carbon fiber and composite materials manufacturer, producing fibers from T300 through T1100 grades plus prepregs and aerospace structural parts for aerospace, wind energy, hydrogen storage, and eVTOL customers. It is state-controlled by Shaanxi Coal and Chemical Group and listed on China's NEEQ.

Ownership category

akta.pro rank

Product category

Carbon Fiber and Composite Materials

NAICS

Artificial and Synthetic Fibers and Filaments Manufacturing (32522), Resin and Synthetic Rubber Manufacturing (32521)

SIC

Broadwoven Fabric Mills, Man Made Fiber & Silk (2221), Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820)

akta.pro primary industry

Industrial & Technical Yarn Manufacturing (High-Tenacity/Aramid/Carbon/Glass) (IMAOAAAG)

akta.pro secondary industries

Composite Reinforcement Textiles (Carbon/Glass/Aramid Fabrics & Preforms) (IMAOADAH), Technical Fabric Mills (Performance/Protective/Medical Substrates) (IMAOABAH), Renewable Manufacturing Materials & Subcomponents (Glass, EVA/Backsheet, Composites, Magnets) (EUAMAHAL)

Keywords

• Carbon fiber materials
• Composite materials
• Prepreg systems
• Aerospace composites
• Wind energy materials

Headquarters

HQ city

Danyang

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. Carbon Fiber Materials Sales: Primary revenue from selling carbon fiber products including standard modulus, intermediate modulus, and high-modulus carbon fibers to aerospace, wind energy, hydrogen storage, and industrial customers. Revenue generated from direct sales of carbon fiber to OEMs and composite fabricators.
2. Prepreg and Fabric Sales: Sales of carbon fiber fabrics and prepreg materials to aerospace and industrial customers. Prepreg is sold as a ready-to-use intermediate material for composite manufacturing.
3. Composite Structural Parts: Design, development, and manufacturing of composite structural parts for aerospace applications, including components for civil aircraft programs and UAV structures.
4. Testing and Technical Services: One-stop testing and technical consulting services including test plan design, specimen preparation and machining, performance testing and characterization, data analysis and evaluation.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Hengshen Carbon Fiber researches, develops, designs, manufactures, and sells integrated carbon fibers and composite materials covering the full industrial chain from PAN precursor synthesis through carbon fiber, sizing agents, fabrics, liquid resins, adhesives, prepregs, composite parts, and aerospace structural assemblies. Its Danyang headquarters operates five complete carbon fiber production lines with 5,000 tons/year capacity, supported by 15 million m²/year fabric and prepreg capacity, 1,200 tons/year high-performance resin capacity, and 5,000 tons/year composite parts capacity. A greenfield 20,000 tons/year high-performance carbon fiber production base is being built in Yulin, Shaanxi through wholly-owned subsidiary Yulin Hengshen New Materials Co., Ltd.

Product overview

Jiangsu Hengshen股份有限公司 (Hengshen Carbon Fiber) is a carbon fiber and advanced composite materials company with a full-chain integrated business model covering PAN precursor, carbon fiber, sizing agents, fabrics, liquid resins, adhesives, prepregs, composite parts, and aviation composite structural assemblies. The company operates five complete carbon fiber production lines with an annual capacity of 5,000 tons at its Danyang headquarters, and is building a 20,000 tons/year greenfield production base in Yulin, Shaanxi through its subsidiary Yulin Hengshen New Materials Co., Ltd. The product portfolio centers on high-performance carbon fibers ranging from T300 through T1100 grade and M40X grade, available in 3K to 50K tow variants, processed into fabrics (bidirectional cloths, multi-axial warp-knitted fabrics) and prepregs (EH918/HF40 tow prepreg, EM710 series, rapid-cure prepreg). Finished composite structural parts — including AFP/ATL-processed aerospace components — and dedicated testing/technical consulting services round out the offering. The company serves aerospace, aviation, wind energy, hydrogen storage, rail transportation, marine equipment, and industrial markets.

Differentiator

Problem solved

Functional benefit

Products and services

• High-Performance Carbon Fiber Carbon fiber products spanning the full strength range from standard modulus to ultra-high modulus, including T300 through T1100 grade and M40X grade fibers. Product portfolio includes 3K, 12K, 24K, and 50K tow variants produced via both wet-spinning and dry-jet wet spinning processes. Annual production capacity of 5,000 tons across five complete production lines at Danyang headquarters.
• Carbon Fiber Prepreg Prepreg systems combining carbon fiber reinforcement with polymer resin matrices, manufactured under strictly controlled conditions. Available in multiple resin systems including EH918/HF40 high-toughness tow prepreg (developed for automated fiber placement/AFP manufacturing of aircraft structural parts), EM710 series, and rapid-curing prepreg with 5–10 minute cure cycles. Used as ready-to-use intermediate material for composite part manufacturing in aerospace, aviation, and industrial applications.
• Carbon Fiber Fabrics and Weaves Carbon fiber fabrics including bidirectional cloths, multi-axial unidirectional (NCF) and multi-axial warp-knitted fabrics, and specialized weaves. Primary products include construction reinforcement carbon fiber sheets, bidirectional cloths, and multi-axial warp-knitted fabrics. Annual fabric capacity of 15 million square meters across the Danyang production base. DNV·GL TYPE APPROVAL and SHOP APPROVAL certification held for 24K carbon fiber fabric for wind energy blade applications.
• Composite Structural Parts Finished composite structural parts and components manufactured from the company's carbon fiber and prepreg materials. Capabilities span design, R&D, and manufacturing of composite parts for aerospace, aviation, wind energy, and industrial applications. Includes automatic fiber placement (AFP) and automatic tape laying (ATL) processed parts such as C-shaped frames, curved fuselage panels, and window frame assemblies. Annual composite parts capacity of 5,000 tons.
• Testing and Technical Consulting Services Full-service carbon fiber and composite testing and technical consulting covering test scheme design, specimen preparation and machining, performance testing and characterization, and data analysis and evaluation. Provides a comprehensive one-stop solution for customers requiring material qualification and quality assurance. Supports the General Aviation Domestic Composite Material Performance Shared Database Project coordinated by CAAC Shenyang Aircraft Airworthiness Certification Center.

Quantifiable outcome

• 50K wet-spun carbon fiber tensile strength stable at 4600 MPa, modulus 260 GPa, meeting next-generation ultra-long wind blade requirements
• +3 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered strategic, supporting, major, minor and core.

• 华昌公司 (Huachang Company)strategicTechnology or Integration · 7 July 2026Technical exchange with Huachang Company on epoxy resin and vinyl ester resin products for matrix materials. Hengshen visited Huachang's Shanghai Chemical Industry Park base to discuss cooperation in new energy vehicles, wind power, marine engineering, aerospace, and rail transit sectors. Both parties identified highly complementary capabilities in resin matrix supply for high-end composites.
• 中国银行丹阳支行 (Bank of China Danyang Branch)supportingGTM or Marketing Partner · 3 July 2026Party-building joint activity signing ceremony conducted. Both parties established party-building collaboration for financial services supporting enterprise production, project construction, and innovation transformation.
• 常州纺织服装职业技术学院智能纺织与材料学院 (Changzhou Vocational Institute of Textile Technology - School of Smart Textile and Materials)supportingStrategic or Co-development Partner · 3 July 2026Industry-education integration partnership for joint talent cultivation, scientific research collaboration, and practical talent exchange. School-enterprise collaboration aligned with Hengshen's technical upgrade and talent reserve needs.
• 北京理工大学无人装备研究院 (Beijing Institute of Technology Unmanned Equipment Research Institute)majorStrategic or Co-development Partner · 22 April 2026Joint exhibition at the 4th China (Hefei) International Science & Technology Innovation Achievement Transformation Fair, displaying high-performance carbon fiber and lightweight structural parts for low-altitude economy applications.
• 中国商飞 (COMAC)majorStrategic or Co-development Partner · 1 April 2026T800-grade products entering domestic application in civil aircraft programs. Hengshen provides both material and composite work packages for large aircraft programs, with collaboration deepening as material project progresses.
• 鲲驭1000 (Kunyu 1000)minorOthers · 1 January 2025Delivery of Kunyu 1000 ultra-short-range UAV manufactured in Danyang, utilizing Hengshen carbon fiber composite materials.
• 同济大学路特斯翼驰车队 (Tongji University Lotus Efische Racing Team)minorStrategic or Co-development Partner · 1 January 2025Student Formula Racing car manufactured using Hengshen carbon fiber prepreg materials, displayed at Shenzhen Composites Exhibition innovation product area.
• 中国科学院宁波材料技术与工程研究所 (Chinese Academy of Sciences Ningbo Institute of Materials Technology and Engineering)coreStrategic or Co-development Partner · 1 January 2023Joint research partnership for ultra-high strength and high-modulus carbon fiber (HF55M) development. CAS Ningbo Institute provided research support for polymer molecular weight control, nano-defect control, and electrochemical surface treatment technology. The HF55M project passed national appraisal at international advanced level.
• 哈尔滨工业大学 (Harbin Institute of Technology)coreStrategic or Co-development Partner · 1 January 2023Academic partner in the HF55M ultra-high strength and high-modulus carbon fiber joint development project, contributing to the engineering key preparation technology development.
• 上海航天材料研究所 (Shanghai Aerospace Materials Research Institute)majorStrategic or Co-development Partner · 1 January 2023Collaboration on aviation composite material development including C-type frame and window frame structural components for civil aircraft using EH918/HF40 high-toughness prepreg systems.
• 中国民用航空沈阳航空器适航审定中心 (CAAC Shenyang Aircraft Airworthiness Certification Center)coreStrategic or Co-development Partner · 8 July 2022Led the General Aviation Domestic Composite Material Performance Shared Database Project. Hengshen participates as a key member together with CAAC Shenyang Center, Hunan Shanhe Aviation, and Shanghai Aviation Material Structure Testing. The project aims to shorten aircraft certification cycles and reduce costs for domestic general aviation.

Scale indicators7 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Toray Industries: Japanese global leader in PAN-based carbon fiber (Torayca), serving Boeing 787, Airbus A350, and aerospace/defense programs worldwide. Direct material comparability in product category and target customers; Hengshen is positioning as the leading domestic Chinese challenger to Toray's aerospace and industrial fiber dominance.
• SGL Carbon: German carbon fiber and graphite products manufacturer with significant large-tow (50K) carbon fiber production for wind, automotive, and industrial applications. Comparable product portfolio in large-tow SIGRAFIL carbon fiber for wind and pressure vessel markets.
• Hexcel Corporation: US-based leader in aerospace-grade carbon fiber, prepregs, and composite parts supplying Boeing, Airbus, and major defense primes. Closest analog in terms of integrated aerospace composites value chain — though more focused on Western OEMs, providing a benchmark for Hengshen's aerospace ambitions.
• Mitsubishi Chemical Carbon Fiber & Composites: Japanese producer of PAN-based carbon fiber (Pyrofil/TR series) serving aerospace, automotive, and industrial applications. Comparable high-performance fiber grades and target markets; relevant peer for benchmarking aerospace-grade product positioning.
• Solvay Composite Materials: Global supplier of carbon fiber, prepregs, and resin systems for aerospace (Airbus, Boeing), automotive, and industrial markets. Comparable in prepreg systems (similar to Hengshen's EH918/HF40 high-toughness tow prepreg) and aerospace composite parts manufacturing capability.
• Teijin Carbon: Japanese carbon fiber producer (Tenax) serving Airbus and industrial applications, with deep aerospace qualification heritage. Comparable as a global T700-T1100-class fiber producer with established relationships across aerospace and wind markets that Hengshen is now targeting.

Direct peers

• Weihai Guangwei Composites: Leading Chinese carbon fiber and composite products manufacturer (also A-share listed) serving aerospace, wind energy, and pressure vessels. Comparable vertically integrated product portfolio spanning carbon fiber, prepreg, and composite parts targeting similar end markets.
• Zhongfu Shenying Carbon Fiber: China's largest PAN-based carbon fiber producer (parent: China National Building Material / CNBM), competing head-to-head with Hengshen in T700/T800/T1000 aerospace-grade fiber, wind energy large-tow, and hydrogen storage pressure vessel applications. Most direct domestic peer.
• Jilin Chemical Fiber: Major Chinese PAN precursor and carbon fiber producer with significant large-tow capacity for wind energy and industrial markets. Comparable in PAN-based carbon fiber manufacturing and target application segments, particularly for wind and hydrogen pressure vessels.

Emerging players

• Formosa Plastics Corporation (Tairylan carbon fiber): Taiwanese producer of low-cost large-tow (TC35) PAN-based carbon fiber primarily serving industrial and wind energy applications. Comparable in large-tow 50K product offerings for wind energy and hydrogen pressure vessel markets, though less focused on aerospace grades than Hengshen.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hengshen-corporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

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 Hengshen Carbon Fiber