Wanhua Chemical Group Co., Ltd.

Wanhua Chemical Group Co., Ltd. was established on December 20, 1998, and listed on the Shanghai Stock Exchange in 2001 (stock code 600309). Headquartered in Yantai City , Shandong Province , it is a globally operating chemical new materials enterprise. The company's core business covers five major industrial clusters: polyurethane , petrochemicals, fine chemicals, emerging materials, and future industries. The industries it serves include seven major fields: home furnishings, sports and leisure, automotive transportation, construction industry, electronics and electrical, personal care, and green energy. In 2023, its operating revenue reached RMB 175.4 billion, with more than 27,000 employees worldwide. It has production bases in Yantai, Ningbo, Sichuan, Fujian, and Hungary, as well as a global innovation network covering seven R&D centers (Yantai, Ningbo, Shanghai, Beijing, Shenzhen, Hungary, and Spain). 

The company's predecessor was Yantai Synthetic Leather Factory, established in 1978, which completed its shareholding system reform in 1998. In 2005, its 160,000-ton/year MDI unit in Ningbo went into operation, marking the beginning of its global expansion. In 2020, key units in its ethylene industry chain were fully operational, achieving integrated petrochemical industry chain. In 2024, the first phase of its 200,000-ton/year POE unit will be fully operational. [60-61]In January 2024, the team responsible for tackling key technical challenges in the entire industrial chain of high-end polyurethane raw material ADI was awarded the title of " National Outstanding Engineer Team " [53-54].In 2025, it won the 5th China Quality Award .[78] [83]The company has applied for more than 6,000 invention patents and invested 3.42 billion yuan in scientific research in 2022, building an innovation system from basic research to product application. It has been selected as one of the Forbes Global 2000 companies , a national technology innovation demonstration enterprise, and a "world-class demonstration enterprise" by the State-owned Assets Supervision and Administration Commission of the State Council. In 2021, it obtained the EU EcoVadis Gold Certification. [36]Adhering to the mission of "Chemistry makes life better!", the company continues to innovate in the field of new chemical materials and provides comprehensive solutions for global customers. 

Company NameWanhua Chemical Group Co., Ltd.

Foreign nameWanhua Chemical Group Co.,Ltd.

Establishment timeDecember 20, 1998

Headquarters LocationYantai, Shandong

Business ScopeMDI

Company TypeJoint-stock company

Annual turnover18,206,911 million yuan [38 ] [50] [59] [77]( 2024 )

Number of employees19,692 people [39 ]( 2021 )

Launch dateJanuary 5, 2001

Official websitehttp://www.whchem.com/

Major HonorsSuperior smart factory

Development history

Entrepreneurial exploration period (1978-1998) [2]

In 1978, China imported a synthetic leather production line with a capacity of 3 million square meters per year, along with a supporting isocyanate (MDI) plant with an annual capacity of 10,000 tons .

In 1983, Wanhua Chemical's 10,000-ton-per-year MDI production line was successfully put into operation. [2]

Innovation and Development Period (1998-2008) [2]

In 1998, Yantai Wanhua Polyurethane Co., Ltd. was restructured and established.

In 2001, Wanhua Chemical was listed on the Shanghai Stock Exchange , stock code: 600309.

In 2003, the 160,000-ton/year MDI project began construction in Daxie, Ningbo.

In 2004, Wanhua became the first company in China's chemical industry to introduce the DuPont safety management system , and strictly proposed the HSE goal of "zero harm, zero accidents, zero emissions, and building a garden-style factory" .

In 2005, the Ningbo 160,000-ton/year MDI unit successfully completed its first-time commissioning. During the same period, Wanhua established branches and offices in the Middle East , Russia , Japan, the United States, and Europe, implementing a global layout. [2]

Internationalization development period (2008 to present) [2]

In 2010, the second phase of Wanhua Ningbo Industrial Park, a 300,000-ton/year MDI unit and supporting facilities project, successfully completed its trial run.

In 2011, Wanhua acquired BorsodChem in Hungary , marking a milestone in its internationalization process .

In 2011, the Wanhua Yantai Industrial Park began construction.

In 2013, Yantai Wanhua Polyurethane Co., Ltd. changed its name to Wanhua Chemical Group Co., Ltd.

In 2014, Wanhua's 600,000-ton/year integrated isocyanate project, relocated from its old plant in Yantai Industrial Park, was successfully put into full production and produced qualified MDI products.

In 2015, the PO/AE integrated project was fully put into operation and produced qualified products . The coatings and specialty chemicals plants were put into operation one after another. The first phase of Wanhua Yantai Industrial Park was completed. Wanhua has established three major industrial platforms : polyurethane, petrochemicals, and fine chemicals .

In 2017, Wanhua's Zhuhai project successfully completed its overall trial run on the first attempt. Simultaneously, the second phase of Wanhua's Yantai Industrial Park project, encompassing a million-ton ethylene project and over 20 high-value-added chemical new materials projects including PC, commenced construction.

In 2017, Wanhua's North American Technology Center was put into use, realizing Wanhua's global R&D institution layout.

In 2019, Wanhua Chemical's Sichuan base started construction on a project to produce 250,000 tons of high-performance modified resin per year .

01:20

Our mission: Chemistry, to make life better!

In 2019, Wanhua Chemical released its new mission: "Chemistry makes life better."

In 2019, Wanhua Chemical acquired Chematur Technologies AB ( Swedish International Chemicals).

In 2020, Wanhua Chemical (Fujian) Co., Ltd. completed its acquisition and integration. 

In 2020, the ethylene cracking unit was successfully started up and produced qualified products on the first attempt, and all key units in Wanhua's ethylene industry chain were successfully started up. [1] [21]

In 2020, Wanhua Sichuan Phase I Modified Plastics Project was successfully handed over. 

In 2021, Wanhua Chemical ranked 29th among the world's top 50 chemical companies.

In 2021, Wanhua Chemical was awarded the EcoVadis Gold Medal. [33]

On April 6, 2023, French waste and sewage treatment giant Suez Group signed a seawater desalination cooperation project with Wanhua Chemical Group and China Railway Shanghai Engineering Bureau Group, further expanding the three parties' cooperation in the field of environmental protection. [49]On April 7, the State Administration for Market Regulation issued an announcement regarding its anti-monopoly review decision on the acquisition of Yantai Juli Fine Chemical Co., Ltd. by Wanhua Chemical Group Co., Ltd., subject to additional restrictive conditions. [70]

On June 29, 2024, Wanhua Chemical's new materials division's Phase I 200,000-ton/year POE project achieved full-process integration and produced qualified products on the same day. [60-61]

On February 24, 2025, Wanhua Chemical's new generation battery materials industrial park broke ground in Haiyang City, Yantai. [71]On April 25, Wanhua Chemical Group Co., Ltd. and Kuwait Petrochemical Industries Company officially signed a joint venture agreement, with PIC investing US$638 million to acquire a 25% stake in Wanhua Chemical (Yantai) Petrochemical Co., Ltd., a wholly-owned subsidiary of Wanhua Chemical. [72]On August 27, Wanhua Chemical and Geely Automobile jointly released their collaborative achievements in automotive-grade photoconductive polycarbonate (PC) materials at Wanhua Chemical's Ningbo Research Institute. [75]On September 16, at the China Quality (Nanjing) Conference, Wanhua Chemical Group Co., Ltd. won the 5th China Quality Award.