DALIAN, China -- Chinese chemical company Hengli Group has manufactured stunning growth in its shipbuilding division, with the unit essentially going public in May by becoming part of the parent's listed ceramics maker.
Ship unit uses backdoor listing to go public under struggling group subsidiary

Hengli Heavy Industry ranks sixth among Chinese shipbuilders just three years after its establishment. (Photo by Kohei Fujimura)
DALIAN, China -- Chinese chemical company Hengli Group has manufactured stunning growth in its shipbuilding division, with the unit essentially going public in May by becoming part of the parent's listed ceramics maker.