# WANHUA CHEMICAL GROUP CO -A

Summary updated: 2026-09-28T14:42:34.630696Z
Canonical: https://finbar.com/research/companies/wanhua-chemical-group-co-a

## Overview

Wanhua Chemical Group Co., Ltd. is a China-based chemicals and new-materials producer headquartered in Yantai. Its core businesses span polyurethanes, petrochemicals, and fine chemicals and new materials; products include the isocyanates MDI and TDI. The company states its mission as “Advancing Chemistry, Transforming Lives.” [1](https://app.finbar.com/go?id=P132693466)[2](https://app.finbar.com/go?id=P132693555)[3](https://app.finbar.com/go?id=P132693724)[4](https://app.finbar.com/go?id=P132693583)

Wanhua has manufacturing operations across China and an international presence that includes BorsodChem in Europe. It reported RMB 182.07 billion in operating revenue for 2024 and 33,303 employees at year-end, indicating the scale of its operations. [5](https://app.finbar.com/go?id=P132693525)[6](https://app.finbar.com/go?id=P132693528)[7](https://app.finbar.com/go?id=P132693529)[8](https://app.finbar.com/go?id=T15217490)[9](https://app.finbar.com/go?id=T15217496)[10](https://app.finbar.com/go?id=T15217544)
[1](https://app.finbar.com/go?id=P132693466)[2](https://app.finbar.com/go?id=P132693555)[3](https://app.finbar.com/go?id=P132693724)[4](https://app.finbar.com/go?id=P132693583)[5](https://app.finbar.com/go?id=P132693525)[6](https://app.finbar.com/go?id=P132693528)[7](https://app.finbar.com/go?id=P132693529)[8](https://app.finbar.com/go?id=T15217490)[9](https://app.finbar.com/go?id=T15217496)[10](https://app.finbar.com/go?id=T15217544)

## Products & services

Wanhua Chemical’s polyurethane products include the isocyanates MDI and TDI and polyether polyols. These materials serve applications including household appliances, building insulation, automobiles, upholstered furniture and coatings. The company reported annual production capacity of 3.8 million tonnes of MDI, 1.11 million tonnes of TDI and 1.59 million tonnes of polyether polyols at the end of 2024. [11](https://app.finbar.com/go?id=P132693558)[12](https://app.finbar.com/go?id=P132693559)[13](https://app.finbar.com/go?id=P132693560)[14](https://app.finbar.com/go?id=P132693704)

Its petrochemical portfolio focuses on C2, C3 and C4 olefin derivatives, including polyethylene products such as low-density polyethylene (LDPE). Its fine chemicals and new materials range includes specialty isocyanates, amines and intermediates; thermoplastic polyurethane (TPU), polyolefin elastomer (POE), nylon elastomer (PEBA) and polymethyl methacrylate (PMMA); water-treatment membranes; and coating and adhesive raw materials. Other named products include polycarbonate, biodegradable materials, nylon 12, modified plastics, PVC and specialty PVC, nutritional ingredients and flavor materials, and battery materials such as lithium iron phosphate, silicon-carbon anode materials, N-methylpyrrolidone and polyacrylic acid. The company also provides customized material and battery-material solutions and service related to coating and adhesive raw materials. [15](https://app.finbar.com/go?id=P132693562)[16](https://app.finbar.com/go?id=P132693563)[17](https://app.finbar.com/go?id=P132693570)[18](https://app.finbar.com/go?id=P132693571)[19](https://app.finbar.com/go?id=P132693572)[20](https://app.finbar.com/go?id=P132693573)[21](https://app.finbar.com/go?id=P132693574)[22](https://app.finbar.com/go?id=P132693575)[23](https://app.finbar.com/go?id=P132693576)[24](https://app.finbar.com/go?id=P132693577)

In 2024, polyurethane, petrochemicals, and fine chemicals and new materials accounted for approximately 38%, 37% and 14%, respectively, of revenue across the reported product categories *before* the separately reported offset; these are calculated shares, not consolidated-revenue percentages. [25](https://app.finbar.com/go?id=T15217504)
[11](https://app.finbar.com/go?id=P132693558)[12](https://app.finbar.com/go?id=P132693559)[13](https://app.finbar.com/go?id=P132693560)[14](https://app.finbar.com/go?id=P132693704)[15](https://app.finbar.com/go?id=P132693562)[16](https://app.finbar.com/go?id=P132693563)[17](https://app.finbar.com/go?id=P132693570)[18](https://app.finbar.com/go?id=P132693571)[19](https://app.finbar.com/go?id=P132693572)[20](https://app.finbar.com/go?id=P132693573)[21](https://app.finbar.com/go?id=P132693574)[22](https://app.finbar.com/go?id=P132693575)[23](https://app.finbar.com/go?id=P132693576)[24](https://app.finbar.com/go?id=P132693577)[25](https://app.finbar.com/go?id=T15217504)[25](https://app.finbar.com/go?id=T15217504)[25](https://app.finbar.com/go?id=T15217504)[25](https://app.finbar.com/go?id=T15217504)[25](https://app.finbar.com/go?id=T15217504)

## Geographic presence

Wanhua Chemical Group is based in Yantai, Shandong, China. Its reported Chinese operating locations include Yantai, Ningbo, Fujian, Penglai and Sichuan; outside China, the group has a production-oriented subsidiary, BorsodChem, in Hungary. [1](https://app.finbar.com/go?id=P132693466)[14](https://app.finbar.com/go?id=P132693704)[16](https://app.finbar.com/go?id=P132693563)[26](https://app.finbar.com/go?id=P132693505)[27](https://app.finbar.com/go?id=P132694017)[28](https://app.finbar.com/go?id=T15217887)[29](https://app.finbar.com/go?id=T15217966)

In 2025, domestic sales accounted for approximately 52% of main-business revenue (RMB 106.06 billion), while sales abroad accounted for approximately 48% (RMB 96.32 billion). The corresponding 2024 split was approximately 57% domestic and 43% abroad. These figures distinguish China from overseas markets but do not break overseas revenue down by country. [30](https://app.finbar.com/go?id=T15218145)
[1](https://app.finbar.com/go?id=P132693466)[14](https://app.finbar.com/go?id=P132693704)[16](https://app.finbar.com/go?id=P132693563)[26](https://app.finbar.com/go?id=P132693505)[27](https://app.finbar.com/go?id=P132694017)[28](https://app.finbar.com/go?id=T15217887)[29](https://app.finbar.com/go?id=T15217966)[30](https://app.finbar.com/go?id=T15218145)

## Business segments

Wanhua Chemical reports four product categories: Polyurethane Series, Petrochemical Series, Fine Chemicals and New Materials Series, and Other. Based on 2025 revenue before the separately reported offset, they contributed approximately 34%, 39%, 15% and 12%, respectively. These are shares of the product-category total before the offset, not shares of consolidated revenue. [30](https://app.finbar.com/go?id=T15218145)

The Polyurethane Series comprises isocyanates, principally MDI and TDI, and polyether polyols. [31](https://app.finbar.com/go?id=P132697260)[32](https://app.finbar.com/go?id=P132697264) The Petrochemical Series focuses on C2, C3 and C4 olefin chains and their derivatives, supported by integrated chemical production facilities. [33](https://app.finbar.com/go?id=P132697266) Fine Chemicals and New Materials spans specialty chemicals, polymers and materials such as TPU, polycarbonate and water-treatment membranes, as well as battery materials. [34](https://app.finbar.com/go?id=P132697006)[35](https://app.finbar.com/go?id=P132697014)[36](https://app.finbar.com/go?id=P132697273)[37](https://app.finbar.com/go?id=P132697274) “Other” is reported as a separate product category without a detailed product breakdown in the revenue table. [30](https://app.finbar.com/go?id=T15218145)
[30](https://app.finbar.com/go?id=T15218145)[30](https://app.finbar.com/go?id=T15218145)[30](https://app.finbar.com/go?id=T15218145)[30](https://app.finbar.com/go?id=T15218145)[30](https://app.finbar.com/go?id=T15218145)[31](https://app.finbar.com/go?id=P132697260)[32](https://app.finbar.com/go?id=P132697264)[33](https://app.finbar.com/go?id=P132697266)[34](https://app.finbar.com/go?id=P132697006)[35](https://app.finbar.com/go?id=P132697014)[36](https://app.finbar.com/go?id=P132697273)[37](https://app.finbar.com/go?id=P132697274)

## Company history

Wanhua Chemical traces its origins to Yantai Synthetic Leather Factory. The company was incorporated in 1998. [38](https://app.finbar.com/go?id=P132693858)[1](https://app.finbar.com/go?id=P132693466)

A major expansion came in 2015 with the completion of the first phase of its Yantai Industrial Park, which broadened its production base beyond polyurethane chemicals. [39](https://app.finbar.com/go?id=P132694335) In February 2019, the company registered shares associated with its merger by absorption of Yantai Wanhua Chemical Co., Ltd. [40](https://app.finbar.com/go?id=P132686683)
[38](https://app.finbar.com/go?id=P132693858)[1](https://app.finbar.com/go?id=P132693466)[39](https://app.finbar.com/go?id=P132694335)[40](https://app.finbar.com/go?id=P132686683)

## Sources

1. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2024 Y), p6](https://app.finbar.com/go?id=P132693466)
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24. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2024 Y), p18](https://app.finbar.com/go?id=P132693577)
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27. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2024 Y), p67](https://app.finbar.com/go?id=P132694017)
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33. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2025 Y), p45](https://app.finbar.com/go?id=P132697266)
34. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2025 Y), p15](https://app.finbar.com/go?id=P132697006)
35. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2025 Y), p16](https://app.finbar.com/go?id=P132697014)
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37. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2025 Y), p46](https://app.finbar.com/go?id=P132697274)
38. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2024 Y), p48](https://app.finbar.com/go?id=P132693858)
39. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2018 Y), p11](https://app.finbar.com/go?id=P132694335)
40. [WANHUA CHEMICAL GROUP CO -A — Full financial report (2019 Y), p2](https://app.finbar.com/go?id=P132686683)

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