Wanhua Chemical Group

The listed company was incorporated in 1998 as Yantai Wanhua Polyurethane Co., Ltd. Co-founder of the company, Wanhua Group Corporation, initially owned 93.25% shares. The company started its initial public offering in December 2000. The shares started to trade in the Shanghai Stock Exchange in January 2001.

Initially, the listed company only owned the methylene diphenyl diisocyanate (MDI) production line of the former Yantai synthetic leather factory. It was a common practice at that time to list part of the assets instead of the whole conglomerate. The size of the listed company expanded beyond that assets, however.