Overview
Wanhua Chemical Group is a China-based chemicals company with an integrated portfolio spanning polyurethanes, petrochemicals, fine chemicals and new materials. Its defining products include MDI and TDI, alongside polyols and a broad range of specialty, polymer and battery materials. The company’s stated mission is “Advancing Chemistry, Transforming Lives.” [1][2][3][4][5]
Wanhua reported RMB203.23 billion in business income for 2025. Its reported main-business revenue was split between domestic and overseas markets, with overseas revenue of RMB96.32 billion and domestic revenue of RMB106.06 billion. The company describes production complexes in China and Europe and subsidiaries or offices in more than 30 countries and regions; its website lists more than 30,000 employees. Founded in 1998, Wanhua has grown from a polyurethane-focused business into a global chemicals producer.[6][7][8][9] [1][2][3][4][6][7][5][8][9][5][8][9]
Products & services
Wanhua Chemical’s polyurethane portfolio includes isocyanates—MDI and TDI—as well as polyether polyols. Its product range also includes pure, polymeric and modified MDI; ADI and modified TDI/ADI; and polyether-polyol grades for flexible and rigid foam, blends, coatings, adhesives, sealants and elastomers (CASE). The company cites applications spanning automotive, rail transit, textiles, packaging and building protection. At year-end 2025, reported capacity was 3.8 million tonnes per year for MDI and 1.47 million tonnes per year for TDI.[2][10][11][12]
Its petrochemical products include SAP, acrylic ester, neopentyl glycol, polyether, MTBE, PMMA, HDPE, LLDPE, LDPE, POE, PVC, EOD and styrene. The company also makes fine chemicals and new materials such as specialty isocyanates, specialty amines and intermediates, PC (polycarbonate), water-based resins, TPU, membranes, fragrances and care products. Reported applications and product developments include high-end aliphatic TPU for car-protection film and shoe-foam material, optical-grade PMMA, and membrane technology for seawater desalination.[13][14][15][3][16][17][18]
For 2025, reported main-business revenue was RMB 75.1 billion for polyurethane products, RMB 84.2 billion for petrochemicals, and RMB 33.2 billion for fine chemicals and new materials. These equate to approximately 37.1%, 41.6% and 16.4%, respectively, of total main-business revenue, calculated from the reported product-category figures; the report does not provide revenue shares for individual products.[7] The company describes technical and consulting activities alongside material and solution offerings, but does not separately quantify service revenue.[15][19] [2][10][11][12][13][14][15][3][16][17][18][7][7][7][15][19][11][12][17][18]
Geographic presence
Wanhua Chemical’s reported 2025 main-business revenue was split between domestic sales of RMB 106.061 billion (about 52.4%) and overseas sales of RMB 96.321 billion (about 47.6%); the report does not provide a country-level revenue breakdown.[7] The company describes a production footprint of 15 complexes across China and Europe, naming Chinese locations including Yantai, Penglai, Ningbo, Sichuan, Fujian, Zhuhai, Ningxia, Haiyang and Laizhou, and European locations including Hungary, the Czech Republic, Italy and France.[8]
The group’s 2025 report lists foreign entities associated with markets including Vietnam, Thailand, the US, Canada, Mexico, Australia, Colombia, Hungary, Italy, the Czech Republic, Russia, Sweden, France and Turkey; this indicates overseas entity presence, but does not establish a production site or office in each country.[20] The company’s locations directory identifies BorsodChem Zrt. in Kazincbarcika, Hungary, as a production site.[21]
At year-end 2025, Wanhua reported 30,772 active employees, including 10,789 at the parent company and 19,983 at major subsidiaries; it does not disclose their geographic distribution.[22] [7][7][7][8][20][21][22][22][22][8][21]
Business segments
Wanhua Chemical’s 2025 annual report quantifies its main business by product. Polyurethane series revenue was RMB 75.058 billion, about 37% of the product-table total; the category includes isocyanates—MDI and TDI—and polyether polyols.[7][2] Petrochemical series revenue was RMB 84.204 billion, about 42%; reported products include SAP, AE, NPG, PMMA, polyethylene grades, POE and PVC.[7][13]
Fine Chemicals and New Materials Series generated RMB 33.189 billion, about 16% of the total; Wanhua’s portfolio includes specialty chemicals and emerging materials.[7][11] Other contributed RMB 26.218 billion, about 13%, while a negative RMB 16.287 billion offset (about –8%) brings the categories to the reported product-table total of RMB 202.383 billion.[7] The company also describes its businesses using broader labels—including performance chemicals and emerging materials—which are not separately quantified in this product-revenue breakdown.[8] [7][2][7][13][7][7][7][7][11][8]
Company history
Wanhua Chemical traces its origins to a synthetic-leather factory project approved in 1978 in Yantai; the factory and its MDI production line began operating in 1983. The predecessor was reorganized in 1995, and after a shareholding reform, Yantai Wanhua Polyurethane Co., Ltd. was established on December 20, 1998.[23][24][9]
The company listed on the Shanghai Stock Exchange on January 5, 2001. It expanded MDI production beyond Yantai with construction of a Ningbo project beginning in 2003 and a 160,000-tonne-per-year unit starting production in 2005; a 300,000-tonne-per-year unit at Ningbo passed an overall trial run in 2010. In 2011, Wanhua acquired Hungary-based BorsodChem, broadening its industrial presence in Europe.[9][25][8][26]
The listed company adopted the name Wanhua Chemical Group Co., Ltd. in 2013. Its domestic expansion continued with the Zhuhai project entering operation in 2017; in 2019, it completed an absorption merger with Yantai Wanhua Chemical. Wanhua Chemical (Fujian) was established in 2020, and the Fujian MDI integration project entered operation in 2022; a 250,000-tonne-per-year TDI plant there started up in May 2023.[25][27][28][8][29][30] [31][23][32][9][25][8][26][27][28][29][30]
Sources
- WANHUA CHEMICAL GROUP CO -A — Full financial report (2025 Y)
- en.whchem.com[5]
- en.whchem.com[8]
- en.whchem.com[9]
- en.whchem.com[11]
- en.whchem.com[12]
- en.whchem.com[17]
- en.whchem.com[18]
- www.whchem.com[21]
- www.ytgfjt.cn[23]
- www.gov.cn[24]
- www.whchem.com[25]
- en.whchem.com[26]
- www.whchem.com[27]
- static.cninfo.com.cn[28]
- en.whchem.com[29]
- en.whchem.com[30]
- www.gov.cn[32]
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