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Is Hangzhou Hengyi Research Institute a state-owned enterprise?

No, according to official website, Hangzhou Hengyi Research Institute is a research institute established by private enterprise Zhejiang Hengyi Group Co., Ltd. in Donghua University, located in Xiaoshan City, Zhejiang Province. Hengyi Group is an international comprehensive enterprise group focusing on petrochemical, chemical fiber R&D and production, covering finance, trade, logistics, industrial big data application and other fields.