Since the end of 2024, with the coordination and support of the Suzhou Economic Development Zone administrative committee, Suzhou Hengchang Biotechnology Co., Ltd. has received a total of 15 million CNY in working capital support in successive tranches, covering production and operations during the advancement of its pharmaceutical excipient project and 3,000-ton annual capacity N-methylaniline technical upgrading project.
The company is a comprehensive enterprise in the chemical industry park of the Suzhou Economic Development Zone, focused on pharmaceutical manufacturing with business covering chemical product manufacturing, new materials technology R&D, and import and export. It is currently at a key stage of project construction and product upgrading: the new pharmaceutical excipient project and the N-methylaniline technical upgrading project are advancing in parallel — the latter passed the safety facility design review in December 2024 — and the simultaneous implementation of multiple projects has raised higher requirements for working capital.
In response to the company's funding needs, the Suzhou Economic Development Zone in Anhui Province has kept improving its government-bank-enterprise matchmaking mechanism and has organized financing matchmaking activities on multiple occasions to align financial resources with key projects. With the zone's coordination, the pressure on the company's working capital has been effectively eased, and the company's operational needs during project advancement are better met.
The zone's efficient and convenient financial services have given the company a tangible sense of the continuously improving business environment. The company will put this funding support to good use, sustaining operations during project advancement and supporting the orderly implementation of the pharmaceutical excipient and technical upgrading projects, continuously strengthening its product portfolio and production capabilities, providing stronger support for regional economic development and customer demand, and creating long-term value for customers and society.