Evernal’s affiliate is Foshan Huaheng Petroleum & Chemical Co., Ltd (Foshan Huaheng), which is a fully privately owned company incorporated in China in 1998. It is an integrated procurement and investment company operating in the energy sector of Southern China. Foshan Huaheng’s business focuses on the development and operation of power generation assets, including thermal coal, hydro and by-product fuelled plants. Please see below for details of its corporate information.
Foshan Hueheng is majority owned by Evernal’s founder, Mr Chau Kim Wa.
The Company’s core procurement business was historically in fuel oil and its related products, which were supplied to major oil-fired power plants and gasworks in the Pearl River Delta owned by Major Japanese conglomerates.
Similar to Evernal, Foshan Huaheng’s procurement strategy centred around matching its long term multiyear procurement arrangements with end-users.
The volume of Foshan Huaheng’s fuel oil procurement activities was in the approximate range of 600,000mtpa - 1 million mtpa.
Foshan Huaheng’s suppliers included multiple publicly listed large Japanese and Korean entities.