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MDI capacity expansion and maintenanceMDI产能扩张与检修
24 · 2024-01-09 → 2026-06-22
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MDI unit restarts, debottlenecking, and capacity expansions at Ningbo, Fujian, and Yantai bases宁波、福建、烟台基地的MDI装置重启、脱瓶颈改造及产能扩张
2024-01-09Wanhua Chemical (Ningbo) MDI Phase I unit (400,000 tpa) resumed normal production after scheduled maintenance; Phase II unit (800,000 tpa) remained under maintenance.万华化学(宁波)MDI一期装置(40万吨/年)检修结束恢复生产；二期装置(80万吨/年)仍在检修中。
2024-01-30Wanhua Chemical (Ningbo) MDI Phase II unit (800,000 tpa) resumed normal production after scheduled maintenance.万华化学(宁波)MDI二期装置(80万吨/年)检修结束恢复生产。
2024-01-31Wanhua Chemical (Fujian) Isocyanate received environmental approval from Fuzhou Ecology and Environment Bureau to expand its MDI unit from 400,000 tpa to 800,000 tpa via technical revamp.万华化学(福建)异氰酸酯公司MDI装置技改扩能项目(40万吨/年扩至80万吨/年)获福州市生态环境局环评批复。
2024-02-04Wanhua Chemical Fujian base 400,000 tons/year MDI and 250,000 tons/year TDI have been successively put into production; plans to expand MDI capacity from 400,000 to 800,000 tons/year through technical renovation.万华化学福建基地40万吨/年MDI和25万吨/年TDI相继投产；拟通过技改将MDI产能由40万吨/年扩至80万吨/年。
2024-02-22Wanhua Chemical announced that its Fujian Industrial Park 400,000 tons/year MDI, 250,000 tons/year TDI, 400,000 tons/year PVC units and related facilities will start maintenance shutdown on March 4, 2024, for about 30 days.万华化学公告福建工业园40万吨/年MDI、25万吨/年TDI、40万吨/年PVC装置及相关配套装置将于2024年3月4日开始停产检修，预计30天左右。
2024-03-18Wanhua Chemical disclosed that its Fujian MDI plant plans to expand capacity from 400,000 to 800,000 tons/year and TDI from 250,000 to 330,000 tons/year via technical revamp.万华化学披露福建MDI装置计划通过技改将产能从40万吨/年提升至80万吨/年，TDI从25万吨/年提升至33万吨/年。
2024-03-29Wanhua Chemical announced that its Fujian MDI capacity expansion from 400,000 to 800,000 tons/year is expected to be completed by end of April 2024.万华化学宣布福建MDI产能从40万吨增至80万吨的技改预计于2024年4月底完成。
2024-04-02Wanhua Chemical announced key 2024 project timelines: 200,000 t/a POE (Q2), 48,000 t/a citral-fragrance project (Q3), Penglai phase-1 900,000 t/a PDH (Q4), Yantai 1.2 million t/a ethylene (late 2024/early 2025), and Fujian MDI debottlenecking from 400,000 to 800,000 t/a (end of April 2024).万华化学公布2024年主要项目时间表：20万吨/年POE（二季度）、4.8万吨/年柠檬醛-香精香料（三季度）、蓬莱一期90万吨/年PDH（四季度）、烟台120万吨/年乙烯（年底明年初）、福建MDI技改40万吨扩至80万吨（2024年4月底）。
2024-04-03Wanhua Chemical's Fujian industrial park resumed normal production after scheduled maintenance of 400,000 t/a MDI, 250,000 t/a TDI, and 400,000 t/a PVC units.万华化学福建工业园40万吨/年MDI、25万吨/年TDI、40万吨/年PVC装置检修结束，恢复正常生产。
2024-04-29Wanhua Chemical completed the debottlenecking of its Fujian MDI unit from 400,000 t/a to 800,000 t/a, with a main unit investment of approximately 221 million yuan, and the unit is ready for trial production.万华化学福建工业园MDI装置完成40万吨/年至80万吨/年技改扩能，主装置技改投资约2.21亿元，已具备试生产条件。
2024-07-09Wanhua Chemical announced scheduled maintenance shutdown of Yantai industrial park MDI (1.1 million t/y) and TDI (300,000 t/y) units starting July 16 for about 45 days.万华化学公告烟台产业园MDI（110万吨/年）、TDI（30万吨/年）等装置自7月16日起停产检修约45天。
2024-09-09Wanhua Chemical's Yantai Industrial Park resumed normal production after scheduled maintenance of its 1,100 kt/yr MDI and 300 kt/yr TDI integrated units.万华化学烟台产业园MDI（110万吨/年）、TDI（30万吨/年）等一体化装置检修结束，恢复正常生产。
2024-10-25Wanhua Chemical (Fujian) Isocyanate Co., Ltd. published the first EIA notice for a 1.5 Mt/yr MDI capacity expansion project at its Fujian base, up from 800 kt/yr.万华化学（福建）异氰酸酯有限公司公示150万吨/年MDI技改扩能项目环评，原产能80万吨/年。
2025-04-16FY2024 report disclosed MDI capacity expansions: Fujian MDI from 400,000 to 800,000 t/yr, Ningbo MDI from 1.2 million to 1.5 million t/yr; PC capacity reached 600,000 t/yr after overhaul.2024年报披露MDI扩产：福建MDI从40万吨扩至80万吨，宁波MDI从120万吨扩至150万吨；PC大修后产能达60万吨。
2025-05-22Wanhua Chemical announced that its Fujian Industrial Park's 800,000 t/a MDI unit, 360,000 t/a TDI unit, and 400,000 t/a PVC unit will undergo scheduled maintenance from June 5, 2025, for about 45 days.万华化学公告福建工业园80万吨/年MDI装置、36万吨/年TDI装置、40万吨/年PVC装置将于2025年6月5日开始停产检修，预计45天左右。
2025-07-29Wanhua Chemical's Fujian Industrial Park resumed normal production after completing maintenance on its 800 kt/yr MDI, 360 kt/yr TDI, and 400 kt/yr PVC units.万华化学福建工业园80万吨/年MDI、36万吨/年TDI、40万吨/年PVC装置检修结束，恢复正常生产。
2025-08-01Wanhua Chemical Fujian Industrial Park resumed normal production after completing a scheduled maintenance shutdown of its 800 kt/yr MDI, 360 kt/yr TDI, and 400 kt/yr PVC units.万华化学福建工业园完成80万吨/年MDI、36万吨/年TDI、40万吨/年PVC装置的计划检修，恢复正常生产。
2025-09-02Wanhua Chemical has 3.8 million t/y MDI capacity; Fujian site to expand by 700,000 t/y MDI, expected to start production in 2026. Completed Fujian TDI Phase II, total TDI capacity reaches 1.44 million t/y.万华化学拥有MDI产能380万吨/年，福建基地将扩建70万吨/年MDI，预计2026年投产；已完成福建TDI二期项目，TDI总产能达144万吨/年。
2025-10-16Wanhua Chemical's Fujian 150,000-ton/year MDI technical renovation and expansion project passed environmental impact assessment approval, adding 700,000 tons/year of MDI capacity to reach a total of 1.5 million tons/year.万华化学福建150万吨/年MDI技改扩能一体化项目环评审批通过，新增70万吨/年MDI产能，总产能达到150万吨/年。
2025-11-07Wanhua Chemical (Ningbo) Co., a wholly owned subsidiary, will shut down its 1 million t/y MDI Phase II unit for scheduled maintenance from Nov 15, 2025, for about 55 days.万华化学全资子公司万华化学（宁波）有限公司的MDI二期装置（100万吨/年）将于2025年11月15日开始停产检修，预计检修55天左右。
2025-12-30Wanhua Chemical disclosed that its Fujian base 700,000 t/y MDI expansion project is expected to start production in Q2 2026, and a second 330,000 t/y TDI unit will be completed in 2025.万华化学披露福建基地70万吨MDI技改扩能项目预计2026年二季度投产，第二套33万吨TDI装置2025年内建成。
2026-01-16Ningbo industrial park MDI phase II unit (1 million tons/year) resumed normal production after completing scheduled maintenance that started on Nov 15, 2025.宁波工业园MDI二期装置（100万吨/年）完成自2025年11月15日开始的停产检修，恢复正常生产。
2026-02-28Overseas MDI price hikes by Huntsman (USD 260/t in US) and BASF (USD 200/t in ASEAN), combined with scheduled maintenance at Korea Kumho's MDI plant and low-load operation at BASF Belgium, drive domestic MDI and TDI price recovery; Wanhua, with 3.8 Mt/a MDI capacity (world's largest) and top TDI supplier, is the key beneficiary.亨斯迈（美国MDI涨260美元/吨）和巴斯夫（东盟MDI涨200美元/吨）海外MDI涨价，叠加韩国锦湖MDI装置检修及巴斯夫比利时装置低负荷运行，带动国内MDI和TDI价格修复；万华化学以380万吨/年MDI产能（全球最大）和TDI最大供应商身份成为核心受益标的。
2026-06-22Wanhua Chemical announced scheduled maintenance at Fujian Industrial Park: 800,000 t/y MDI unit and related facilities will shut down from June 23 for about 20 days.万华化学公告福建工业园80万吨/年MDI装置及相关配套装置将于6月23日起停产检修约20天。
Polycarbonate (PC) projects聚碳酸酯（PC）项目
6 · 2024-01-12 → 2026-03-16
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High-refractive-index PC project, PC debottlenecking to 600kt, optical-grade PC certification from Hyundai高折射率PC项目、PC脱瓶颈至60万吨、光学级PC获现代认证
2024-01-12Wanhua Chemical announced a 1,500 tpa high-refractive-index polycarbonate (PC) project at its Yantai industrial park, with environmental impact report public consultation.万华化学公示年产1500吨高折射PC项目环评报告，拟在烟台产业园建设。
2024-05-29Wanhua Chemical's Yantai PC debottlenecking project EIA published: total PC capacity to expand from 480 ktpa to 600 ktpa. Also announced expansion of cumene-phenol-acetone-bisphenol A integrated unit by ~20%.万华化学烟台PC扩能改造环评发布：总产能由48万吨/年扩至60万吨/年。同时公示异丙苯—苯酚丙酮—双酚A一体化装置扩产约20%。
2025-03-21Wanhua Chemical's Clarnate HL6157 optical-grade polycarbonate (PC) passed Hyundai Motor Group's headlamp lens material certification, becoming the first Chinese supplier in the group's automotive material supply chain.万华化学Clarnate HL6157光学级聚碳酸酯（PC）通过现代起亚集团车灯面罩材料认证，成为首家进入该集团汽车材料供应链的中国企业。
2025-05-19Wanhua Chemical (Fujian) announced a 600,000 t/a polycarbonate (PC) project and Wanrong New Materials announced a 960,000 t/a PVC project, both in Fuzhou, Fujian, with Wanhua holding 80% stakes.福建万华公示年产60万吨聚碳酸酯项目，万融新材公示年产96万吨PVC项目，均落地福州，万华化学持股80%。
2025-09-02Wanhua Chemical's PC plant has five production lines with total capacity of 550,000 t/y; currently conducting regular rotating shutdown maintenance.万华化学PC装置五条生产线，总产能55万吨/年，当前进行定期轮流停车检修。
2026-03-16Wanhua Chemical, together with Qingdao University of Science and Technology and Hikvision, developed full-set manufacturing technology for high-refractive-index polycarbonate (PC) with independent intellectual property rights.万华化学联合青岛科技大学、海康威视开发出具有自主知识产权的高折射聚碳酸酯（PC）全套制造技术。
Joint ventures and new subsidiaries合资公司与新子公司
22 · 2024-01-15 → 2026-06-12
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Establishment of JVs with Xingfa Group, PIC, and others; new wholly-owned subsidiaries for sales, trading, and R&D与兴发集团、PIC等成立合资公司；新设销售、贸易、研发全资子公司
2024-01-15Wanhua Chemical and Zibo Jielin Plastic Pipe jointly established Yantai Jielin Packaging Co., Ltd. with registered capital of 50 million yuan, focusing on plastic packaging and metal products.万华化学与淄博洁林塑料制管共同出资5000万元成立烟台洁林包装有限公司，主营塑料包装及金属制品。
2024-01-23Wanhua Chemical, together with Foster (Hangzhou) and Trina Solar, established Yantai Wanxu New Materials Co., Ltd. with registered capital of 800 million yuan, to produce POE particles for photovoltaic encapsulation films. Wanhua holds 51% stake.万华化学与福斯特、天合光能共同出资8亿元成立烟台万旭新材料有限公司，生产光伏胶膜用POE粒子，万华持股51%。
2024-04-26Yuan'an Xinghua Mining Co., Ltd. was established with registered capital of 500 million yuan, jointly held by Xingfa Group, Wanhua Chemical, and Yichang Chengfa Energy, covering non-coal mine mineral resource mining and non-metallic mineral products manufacturing.远安兴华矿业有限公司成立，注册资本5亿元，由兴发集团、万华化学、宜昌城发能源共同持股，经营范围包括非煤矿山矿产资源开采等。
2024-05-27Wanhua Chemical establishes wholly-owned subsidiary Wanhua Chemical Group (Laiyang) Sales Co., Ltd. with registered capital of RMB 10 million, covering chemical and plastic product sales.万华化学成立全资子公司万华化学集团（莱阳）销售有限公司，注册资本1000万元，经营范围包括化工产品及塑料制品销售。
2024-06-13Wanhua Chemical established wholly-owned subsidiary Wanhua Chemical Group (Shenzhen) Technology Co., Ltd. with registered capital of 5 million yuan, focusing on bio-based materials and electronic specialty materials R&D.万华化学成立全资子公司万华化学集团（深圳）技术有限公司，注册资本500万元，专注于生物基材料和电子专用材料研发。
2024-07-25Wanhua Chemical and Xingfa Group jointly established Yuan'an Xinghua Phosphorus Chemical Co., Ltd. with registered capital of 100 million yuan, Wanhua holding 49%.万华化学与兴发集团共同成立远安兴华磷化工有限公司，注册资本1亿元，万华持股49%。
2024-08-01Wanhua Chemical established a wholly-owned subsidiary, Wanhua Chemical Group (Yantai) Olefins Co., Ltd., with a registered capital of 1.1 billion yuan, engaging in olefins and related chemical production.万华化学成立全资子公司万华化学集团（烟台）烯烃有限公司，注册资本11亿元，从事烯烃及相关化工产品生产。
2024-12-30Yantai Wanhua High-Pressure New Materials Co., Ltd. was established with registered capital of CNY 110 million, jointly held by Wanhua Chemical and Ningbo Orient Wires & Cables Co., Ltd. (NBO), covering synthetic materials sales and plastic products manufacturing.烟台万华高压新材料有限公司成立，注册资本1.1亿元，由万华化学与东方电缆等共同持股，经营范围包括合成材料销售和塑料制品制造。
2025-02-05Wanhua Chemical and Xingfa Group jointly established Yantai Huaxing Phosphorus Chemical Co., Ltd., with registered capital of 5 million yuan, covering chemical production and import/export.万华化学与兴发集团共同成立烟台华兴磷化工有限公司，注册资本500万元，涉及化工生产及进出口业务。
2025-04-26Kuwait's Petrochemical Industries Company (PIC) signed a JV agreement to invest $638 million for a 25% stake in Wanhua Chemical's Yantai subsidiary (Wanhua Chemical Yantai Petrochemical Co., Ltd.).科威特石化工业公司（PIC）签署合资协议，投资6.38亿美元认购万华化学烟台子公司（万华化学（烟台）石化有限公司）25%股权。
2025-06-23Wanhua Chemical and Xingfa Group jointly establish Hubei Xinghua Silicon Materials Co., Ltd., registered capital 50 million yuan, engaged in synthetic materials manufacturing.万华化学与兴发集团共同出资设立湖北兴华硅材料有限公司，注册资本5000万元，从事合成材料制造。
2025-06-24Wanhua Chemical establishes Wanhua Chemical Group (Penglai) Storage & Transportation Co., Ltd., registered capital 60 million yuan, covering port operations and international freight forwarding.万华化学成立万华化学集团（蓬莱）储运有限公司，注册资本6000万元，经营范围包括港口经营、海上国际货物运输代理等。
2025-07-28Wanhua Chemical invested 70% in a new subsidiary Yantai Wanmei New Materials Co., Ltd. (registered capital 100 million yuan), focusing on synthetic materials and R&D.万华化学投资70%成立烟台万美新材料有限公司（注册资本1亿元），主营合成材料销售及新材料技术研发。
2025-08-04Wanhua Chemical invested in Yantai Huaxing Silicon Materials Co., Ltd., holding a 51% stake; the company engages in chemical raw materials and chemical products manufacturing with registered capital of CNY 5 million.万华化学投资烟台华兴硅材料有限公司，持股51%，该公司从事化学原料和化学制品制造业，注册资本500万元。
2025-09-03Yantai Wanhua Electrical New Materials Co., Ltd. established with registered capital of 110 million yuan, jointly held by Wanhua Chemical, Oriental Cable, Beijing Huairou Laboratory Technology Achievement Transformation Co., and Yantai Zhongtao Investment. Wanhua Chemical holds 52%.烟台万华电气新材料有限公司成立，注册资本1.1亿元，由万华化学（持股52%）、东方电缆、北京怀柔实验室科技成果转化有限公司、烟台中韬投资股份有限公司共同持股。
2025-09-03Petrochemical Industries Company (PIC) of Kuwait completed a $638 million capital increase into Wanhua Chemical (Yantai) Petrochemical Co., obtaining 25% equity. The subsidiary completed industrial and commercial registration changes, with registered capital rising from 2.979 billion to 3.972 billion yuan.科威特石化工业公司（PIC）向万华化学（烟台）石化有限公司增资6.38亿美元，获得25%股权；子公司完成工商变更，注册资本由29.79亿元增至39.72亿元。
2026-03-09Wanhua Chemical and Xingfa Group jointly established Hubei Huaxing New Energy Co., Ltd. with registered capital of 600 million yuan, holding 70% and 30% respectively, covering battery manufacturing and recycling.万华化学与兴发集团共同成立湖北华兴新能源有限公司，注册资本6亿元，分别持股70%和30%，业务涵盖电池制造与回收。
2026-03-18Wanhua Chemical announced the establishment of Yantai Huashengmei New Materials Co., Ltd. with registered capital of 100 million yuan, jointly held by Wanhua Chemical (Penglai) and Hefei Xinmei Materials.万华化学宣布成立烟台华盛美新材料有限公司，注册资本1亿元，由万华化学（蓬莱）与合肥新美材料共同持股。
2026-05-15Wanhua Chemical established Wandee New Material Technology (Yantai) Co., Ltd. with Nantong Haidi Holding, holding 70% stake and registered capital of 10 million yuan.万华化学与南通海迪控股合资成立万迪新材料科技（烟台）有限公司，持股70%，注册资本1000万元。
2026-05-22Wanhua Chemical established Luyin Luhua (Hubei) New Material Technology Co., Ltd. with Luyin Investment, registered capital 100 million yuan, focusing on new materials and additive manufacturing.万华化学与鲁银投资合资成立鲁银鲁华（湖北）新材料科技有限公司，注册资本1亿元，聚焦新材料及增材制造。
2026-05-26Wanhua Chemical established Huashen New Materials (Henan) Co., Ltd. with Henan Pingmei Shenma Polycarbonate Materials, holding 55% stake and registered capital of 360 million yuan.万华化学与河南平煤神马聚碳材料有限责任公司合资成立华神新材料（河南）有限公司，持股55%，注册资本3.6亿元。
2026-06-12Wanhua Chemical Group Battery Technology Co., Ltd. increased registered capital from 3.415 billion to 4.9 billion CNY (+43%), wholly owned by Wanhua Chemical.万华化学集团电池科技有限公司注册资本由34.15亿元增至49亿元（增幅约43%），由万华化学全资持股。
PVC and specialty resinsPVC及特种树脂
1 · 2024-01-17
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High-polymerization-degree PVC specialty resin, PVC unit maintenance, and new PVC project in Fujian高聚合度PVC特种树脂、PVC装置检修及福建新PVC项目
2024-01-17Wanhua Chemical's Fujian base successfully trial-produced high-polymerization-degree PVC specialty resin grade WH1800, expanding its specialty PVC portfolio.万华化学福建基地一次性试产高聚合度PVC特种树脂牌号WH1800成功，拓展特种PVC产品线。
Renewable energy and green power projects可再生能源与绿电项目
6 · 2024-01-25 → 2026-03-13
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Fishery-solar hybrid, offshore wind, agrivoltaic solar, and green electricity industrial park渔光互补、海上风电、农光互补光伏及绿电产业园
2024-01-25Wanhua Chemical and Huaneng Group started construction of a 600 MWp fishery-solar hybrid photovoltaic power station offshore, with expected annual power generation of 700 million kWh, supplying mainly Yantai industrial park.万华化学与华能集团合资的600MWp渔光互补光伏电站开工建设，年发电量预计7亿度，主要供应烟台工业园。
2024-03-20Wanhua Chemical's joint venture Lianjiang Longyuan Wanhua New Energy received approval for a 310MW offshore wind power project in Fujian Mazu Island, deploying 23 turbines of 13.6MW each, expected annual generation 1.45 billion kWh.万华化学合资公司连江龙源万华新能源获批福建省马祖岛海域310MW海上风电项目，部署23台13.6MW风机，预计年发电14.5亿度。
2024-04-01Wanhua Chemical's 120 MWp agrivoltaic solar power project in Zhaoyuan, Shandong, co-developed with Huaneng Shandong, was connected to the grid and started production, expected to generate 170 million kWh annually and reduce carbon emissions by 170,000 tons.万华化学与华能山东合资在山东招远建设的120MWp农光互补光伏发电项目并网投产，预计年发电1.7亿度，减排17万吨碳排放。
2024-08-23Wanhua Chemical president Kou Guangwu stated at a forum that the company aims for clean electricity coverage across all China industrial parks by 2035, with annual equity electricity of 32.2 billion kWh from wind, solar, and nuclear investments.万华化学总裁寇光武在论坛上表示，到2035年实现中国产业园区清洁电力全覆盖，通过风电、太阳能、核电投资获得年权益电量322亿千瓦时。
2025-11-10Wanhua Chemical and China Energy (via Guodian Power's Shandong Electric Power Co.) each hold 50% in the newly established Wanhua Green Energy (Dongming) Clean Energy Co., with registered capital of 720 million yuan, covering wind, solar, storage, and fast-charging services.万华化学与国家能源集团（通过国电电力旗下山东电力有限公司）各持股50%，新成立万华绿能（东明）清洁能源有限公司，注册资本7.2亿元，业务涵盖风电、光伏、储能和快速充电站。
2026-03-13Wanhua Chemical established a wholly-owned subsidiary Wanhua Chemical Group (Laizhou) New Energy Co., Ltd. with registered capital of 600 million yuan, focusing on wind and solar power generation and battery leasing.万华化学成立全资子公司万华化学集团（莱州）新能源有限公司，注册资本6亿元，主营风电、光伏发电及蓄电池租赁。
TDI capacity expansion and maintenanceTDI产能扩张与检修
13 · 2024-01-31 → 2025-09-05
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TDI debottlenecking and new phase II capacity at Fujian, plus maintenance at Yantai and Hungary福建TDI脱瓶颈改造及二期新产能，烟台和匈牙利装置检修
2024-01-31Wanhua Chemical (Fujian) TDI Phase I unit plans a revamp and capacity expansion from 250,000 tpa to 330,000 tpa, with environmental impact report first public notice issued.万华化学(福建)TDI一期装置技改扩能项目(25万吨/年扩至33万吨/年)进行环评第一次公示。
2024-02-01Wanhua Chemical (Fujian) TDI Phase I technical renovation and capacity expansion to 330,000 tons/year project environmental impact report first public notice.万华化学（福建）TDI一期技改扩能33万吨/年项目环境影响报告书第一次公示。
2024-04-25Wanhua Chemical (Fujian) announced TDI phase-1 debottlenecking from 250,000 t/a to 360,000 t/a, and a new TDI phase-2 project with 360,000 t/a capacity, which would raise total TDI capacity to 1.42 million t/a.万华化学（福建）公示TDI一期技改扩能25万吨/年扩至36万吨/年，以及二期扩建36万吨/年项目，完成后TDI总产能将达142万吨/年。
2024-05-13Wanhua Chemical (Fujian) files EIA for TDI Phase I debottlenecking from 250 ktpa to 360 ktpa, and Phase II new 360 ktpa TDI plant. Combined additions of 470 ktpa would lift total TDI capacity to 1.42 Mtpa, world's largest.万华化学（福建）提交TDI一期技改扩能（25→36万吨/年）及二期36万吨/年新建项目环评。合计新增47万吨/年，总产能将达142万吨/年，全球第一。
2024-07-15Wanhua Chemical announced scheduled maintenance shutdown of subsidiary BorsodChem's MDI (400,000 t/y) and TDI (250,000 t/y) units in Hungary starting July 16 for about 40 days.万华化学公告子公司匈牙利宝思德化学MDI（40万吨/年）、TDI（25万吨/年）装置自7月16日起停产检修约40天。
2024-09-02Wanhua Chemical's subsidiary BorsodChem Zrt. in Hungary resumed normal production after scheduled maintenance of its 400 kt/yr MDI and 250 kt/yr TDI integrated units.万华化学子公司匈牙利宝思德化学公司MDI（40万吨/年）、TDI（25万吨/年）等一体化装置检修结束，恢复正常生产。
2025-07-21Wanhua Chemical's subsidiary BorsodChem Zrt. in Hungary began a 30-day routine maintenance shutdown on July 23 for its 400 kt/yr MDI and 250 kt/yr TDI units.万华化学子公司匈牙利宝思德化学公司于7月23日开始对40万吨/年MDI和25万吨/年TDI装置进行为期30天的例行检修。
2025-08-18Wanhua Chemical's subsidiary BorsodChem Zrt. (Hungary) resumed normal production at its 250 kt/yr TDI unit after a scheduled maintenance shutdown that began July 23; the 400 kt/yr MDI unit remains under maintenance.万华化学子公司匈牙利宝思德化学公司25万吨/年TDI装置在7月23日开始检修后恢复正常生产；40万吨/年MDI装置仍在检修中。
2025-08-18Wanhua Chemical's Fujian Industrial Park 360,000-ton/year TDI Phase II unit was completed and put into operation, raising total TDI capacity to 1.47 million tons/year.万华化学福建工业园36万吨/年TDI二期装置建成投产，TDI总产能达到147万吨/年。
2025-08-19Wanhua Chemical's Yantai Industrial Park began a scheduled ~40-day maintenance shutdown of its 300 kt/yr TDI unit on August 19.万华化学烟台产业园30万吨/年TDI装置于8月19日开始计划检修，预计约40天。
2025-08-19Wanhua Chemical's Fujian Industrial Park successfully completed construction and started production of its new 360 kt/yr TDI Phase II unit, producing qualified products.万华化学福建工业园新建36万吨/年TDI二期装置建成投产，产出合格产品。
2025-08-25At the H1 results briefing, Wanhua Chemical disclosed it now has 1.47 million t/yr of global TDI capacity, ranking first worldwide; its first ethylene plant is undergoing ethane feedstock改造 (conversion) to reduce costs.万华化学在业绩说明会上披露，全球TDI产能达147万吨/年，居世界首位；第一套乙烯装置正在进行乙烷进料改造以降低成本。
2025-09-05Wanhua Chemical's subsidiary BorsodChem Zrt. in Hungary resumed normal production of its 400,000 t/y MDI unit after scheduled maintenance shutdown that began July 23, 2025.万华化学子公司匈牙利宝思德化学公司40万吨/年MDI装置完成检修，恢复正常生产。
Battery recycling and Anada acquisition电池回收与安纳达收购
10 · 2024-01-31 → 2026-04-16
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Spent battery recycling deal with Jereh, acquisition of Anada and stake in Liuguo Chemical与杰瑞环保的废旧电池回收合作，收购安纳达及六国化工股权
2024-01-31Wanhua Chemical (Yantai) Battery Industry signed a strategic cooperation agreement with Jereh Environmental Technology to collaborate on global spent lithium battery recycling and equipment technology.万华化学(烟台)电池产业公司与杰瑞环保科技签署战略合作协议，在退役锂电池资源化循环利用领域开展全面合作。
2024-02-26Wanhua Chemical changed its plan: no longer acquiring Tongling Chemical Group shares, but through subsidiary Wanhua Battery directly acquiring 15.20% of Anada (2.99 billion yuan) and 5% of Liuguo Chemical (115.8 million yuan), total 414.85 million yuan, becoming controlling shareholder of Anada.万华化学变更方案：不再受让铜化集团股份，改由子公司万华电池直接受让安纳达15.20%（2.99亿元）和六国化工5%（1.158亿元），总金额4.1485亿元，成为安纳达控股股东。
2024-03-01Wanhua Chemical announced that its wholly owned subsidiary Wanhua Battery will acquire shares of Anada (002136.SZ) and Liuguo Chemical (600470.SH) from Tongling Chemical Group, making Wanhua Battery the controlling shareholder of Anada and the de facto controller of Tongling's chemical business.万华化学公告，全资子公司万华电池将受让铜化集团所持安纳达（002136.SZ）和六国化工（600470.SH）部分股份，成为安纳达控股股东及铜化集团化工业务实际控制人。
2024-03-08Wanhua Chemical revised its acquisition plan: instead of buying Tongling Chemical Group shares, its subsidiary Wanhua Battery will acquire 15.2% of Anada and 5% of Liuguo Chemical for about 415 million yuan, gaining indirect control of Anada and a stake in Liuguo Chemical.万华化学调整收购方案：子公司万华电池以约4.15亿元收购安纳达15.2%股权和六国化工5%股权，间接控股安纳达并参股六国化工。
2024-04-17Wanhua Chemical's wholly-owned subsidiary Wanhua Battery received the Shenzhen Stock Exchange confirmation for acquiring 15.20% equity of Anada (Anhui Anada Titanium Industry Co., Ltd.) for 299 million yuan, becoming the largest shareholder.万华化学全资子公司万华电池收到深交所确认书，以2.99亿元受让安纳达15.20%股权，成为第一大股东。
2024-05-07Wanhua Chemical's battery subsidiary acquires 45% stake in Hubei Huiyang New Materials for RMB 74.02 million; Huiyang is building a 280 ktpa battery-grade refined phosphoric acid project.万华化学电池子公司以7402.02万元收购湖北徽阳新材料45%股权；徽阳正在建设28万吨/年电池级精制磷酸项目。
2024-06-19Wanhua Chemical's wholly-owned subsidiary Wanhua Chemical Group Battery Technology Co., Ltd. holds a 5% stake in Liuguo Chemical (600470.SH), but no business transactions exist between the two companies.万华化学全资子公司万华化学集团电池科技有限公司持有六国化工5%股权，但两家公司目前无业务往来。
2025-10-28Tongling Wanqiao Mining Co., Ltd. was established with a registered capital of approximately 280 million yuan, jointly held by Wanhua Chemical (Yantai) Battery Industry Co., Ltd. and Tongling Chemical Group Xinqiao Mining Co., Ltd., focusing on metal ore sales and investment.铜陵万桥矿业有限公司成立，注册资本约2.8亿元，由万华化学（烟台）电池产业有限公司与铜陵化工集团新桥矿业有限公司共同持股，主营金属矿石销售及投资。
2025-11-01Wanhua Chemical, via its subsidiary Wanhua Chemical (Yantai) Battery Industry Co., jointly established Tongling Wanqiao Mining Co., with registered capital of about 283 million yuan, for metal ore sales and electronic special materials sales.万华化学通过旗下万华化学（烟台）电池产业有限公司，与铜陵化工集团新桥矿业有限公司共同成立铜陵万桥矿业有限公司，注册资本约2.83亿元，经营金属矿石销售和电子专用材料销售。
2026-04-16Anada (002136) stated that Wanhua Chemical is fostering battery materials as a second growth curve, leveraging Anada for upstream raw material synergy and global sales channels.安纳达（002136）表示万华化学将电池材料作为第二增长曲线培育，利用安纳达进行上游原料协同和全球销售渠道互补。
Financial results and dividends财务业绩与分红
21 · 2024-02-02 → 2026-05-12
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Annual, semi-annual, and quarterly earnings releases; dividend announcements and shareholder return plans年度、半年度、季度业绩发布；分红公告及股东回报计划
2024-02-02Wanhua Chemical released 2023 annual performance forecast: revenue 175.361 billion yuan, +5.92% YoY; net profit attributable to parent 16.814 billion yuan, +3.57% YoY.万华化学发布2023年度业绩快报：营业收入1753.61亿元，同比增长5.92%；归母净利润168.14亿元，同比增长3.57%。
2024-03-13Wanhua Chemical released its 2023 annual report: revenue of 175.361 billion yuan (+5.92% YoY), net profit of 16.814 billion yuan (+3.59% YoY), EPS 5.36 yuan, and proposed a cash dividend of 1.625 yuan per 10 shares (total 5.102 billion yuan).万华化学发布2023年年报：营收1753.61亿元（同比+5.92%），净利润168.14亿元（同比+3.59%），每股收益5.36元，拟每10股派发现金红利16.25元（合计51.02亿元）。
2024-03-18Wanhua Chemical announced a 2023 dividend plan of 1.625 yuan per 10 shares, totaling 5.102 billion yuan, representing 30.34% of net profit.万华化学公布2023年度利润分配预案：每10股派发现金红利16.25元，合计51.02亿元，占净利润30.34%。
2024-03-18Wanhua Chemical's board approved the 'Wanhua Chemical Future Three-Year Shareholder Return Plan (2024-2026)', committing to cash dividends of at least 30% of distributable profit annually.万华化学董事会审议通过《万华化学未来三年股东回报规划（2024-2026年）》，承诺每年现金分红不低于当年可分配利润的30%。
2024-04-15Wanhua Chemical implemented its 2023 annual cash dividend of 1.625 yuan per share (tax included), with a total payout of 5.102 billion yuan, representing a 30.34% payout ratio.万华化学实施2023年度权益分派，每股派发现金红利1.625元（含税），合计派发51.02亿元，派息率30.34%。
2024-04-18Wanhua Chemical reported Q1 2024 results: revenue of 46.161 billion yuan (+10.07% YoY), net profit of 4.157 billion yuan (+2.57% YoY); polyurethane revenue 17.502 billion yuan, petrochemical & LPG revenue 18.514 billion yuan, fine chemicals & new materials revenue 6.105 billion yuan.万华化学发布2024年一季报：营收461.61亿元（同比+10.07%），净利润41.57亿元（同比+2.57%）；聚氨酯系列收入175.02亿元，石化系列及LPG贸易收入185.14亿元，精细化学品及新材料收入61.05亿元。
2024-08-12Wanhua Chemical released 2024 semi-annual report: revenue 97.067 billion yuan (+10.77% YoY), net profit 8.174 billion yuan (-4.6% YoY); plans to distribute cash dividend of 0.52 yuan per 10 shares.万华化学发布2024年半年度报告：营业收入970.67亿元（同比+10.77%），净利润81.74亿元（同比-4.6%）；拟每10股派发现金红利5.2元。
2024-10-28Wanhua Chemical reported Q3 2024 results: revenue RMB 50.537 billion (+12.48% YoY), net profit RMB 2.919 billion (-29.41% YoY); 9M 2024 revenue RMB 147.604 billion (+11.35% YoY), net profit RMB 11.093 billion (-12.67% YoY).万华化学发布2024年第三季度报告：三季度营收505.37亿元（同比+12.48%），净利润29.19亿元（同比-29.41%）；前三季度营收1476.04亿元（同比+11.35%），净利润110.93亿元（同比-12.67%）。
2024-10-28Wanhua Chemical disclosed 9M 2024 segment revenue: polyurethane RMB 54.245 billion, petrochemical & LPG trade RMB 61.978 billion, fine chemicals & new materials RMB 19.999 billion.万华化学披露2024年前三季度主要经营数据：聚氨酯系列收入542.45亿元，石化系列及LPG贸易收入619.78亿元，精细化学品及新材料系列收入199.99亿元。
2024-11-05Wanhua Chemical reports Q1-Q3 2024 revenue of 147.604 billion yuan, +11.35% YoY; net profit of 11.093 billion yuan, -12.67% YoY.万华化学2024年前三季度营收1476.04亿元，同比增长11.35%；归母净利润110.93亿元，同比下降12.67%。
2025-03-17Wanhua Chemical released 2024 annual results: revenue RMB 182.069 billion (+3.83% YoY), net profit RMB 13.033 billion (-22.49% YoY), due to market price/raw material cost fluctuations, increased R&D spending, and asset impairment/write-offs on some investment projects.万华化学发布2024年度业绩快报：营业收入1820.69亿元（同比+3.83%），净利润130.33亿元（同比-22.49%），因市场价格和原料成本波动、研发投入增加及部分投资项目计提资产减值或报废处理。
2025-04-14FY2024 results: revenue 182.069 billion RMB (+3.83% YoY), net profit 13.033 billion RMB (-22.49% YoY); proposed dividend 0.73 RMB per 10 shares.2024年年报：营收1820.69亿元（同比+3.83%），净利润130.33亿元（同比-22.49%）；拟每10股派发现金红利7.3元。
2025-04-14Q1 2025 results: revenue 43.068 billion RMB (-6.70% YoY), net profit 3.082 billion RMB (-25.87% YoY).2025年一季报：营收430.68亿元（同比-6.70%），净利润30.82亿元（同比-25.87%）。
2025-08-11H1 2025 results: revenue CNY 90.901 billion (-6.35% YoY); net profit attributable to shareholders CNY 6.123 billion (-25.1% YoY); EPS CNY 1.95.2025年上半年业绩：营业收入909.01亿元（同比-6.35%）；归母净利润61.23亿元（同比-25.1%）；基本每股收益1.95元。
2025-10-24Wanhua Chemical reported 2025 Q3 revenue of 53.324 billion yuan (+5.52% YoY) and net profit of 3.035 billion yuan (+3.96% YoY); first three quarters revenue was 144.226 billion yuan (-2.29% YoY) and net profit 9.157 billion yuan (-17.45% YoY), due to lower product selling prices.万华化学2025年第三季度营收533.24亿元（同比+5.52%），净利润30.35亿元（同比+3.96%）；前三季度营收1442.26亿元（同比-2.29%），净利润91.57亿元（同比-17.45%），主因产品售价下行。
2025-10-24Wanhua Chemical's first three quarters 2025 segment results: polyurethane sales 55.143 billion yuan (volume 4.58 million tons), petrochemical sales 59.319 billion yuan (volume 4.60 million tons), fine chemicals & new materials sales 23.811 billion yuan (volume 1.84 million tons).万华化学2025年前三季度板块业绩：聚氨酯系列销售收入551.43亿元（销量458万吨），石化系列593.19亿元（销量460万吨），精细化学品及新材料238.11亿元（销量184万吨）。
2026-03-16Wanhua Chemical released 2025 annual results: revenue of 203.235 billion yuan (+11.62% YoY), net profit of 12.527 billion yuan (-3.88% YoY), due to declining chemical product prices.万华化学发布2025年度业绩快报：营收2032.35亿元（同比+11.62%），净利润125.27亿元（同比-3.88%），受化工产品价格下行影响。
2026-04-20Wanhua Chemical reported 2025 annual revenue of 203.235 billion yuan (+11.62% YoY) and net profit of 12.527 billion yuan (-3.88% YoY); proposed dividend of 1.25 yuan per share.万华化学公布2025年营业收入2032.35亿元（同比+11.62%），净利润125.27亿元（同比-3.88%）；拟每10股派发现金红利12.50元。
2026-04-20Wanhua Chemical reported 2026 Q1 revenue of 54.052 billion yuan (+25.50% YoY) and net profit of 3.718 billion yuan (+20.62% YoY), driven by product price increases and higher margins.万华化学2026年一季度营业收入540.52亿元（同比+25.50%），净利润37.18亿元（同比+20.62%），因产品价格上涨和毛利增加。
2026-04-20Wanhua Chemical announced 2025 annual profit distribution plan: total cash dividend of 3.913 billion yuan (1.25 yuan per share), plus share buyback and cancellation of 499.98 million yuan, totaling 35.23% of net profit.万华化学公布2025年度利润分配方案：合计派发现金红利39.13亿元（每股1.25元），加上回购注销金额5.00亿元，占净利润比例35.23%。
2026-05-12Wanhua Chemical's 2025 annual general meeting approved all 12 proposals, including the 2025 profit distribution plan with 99.98% approval.万华化学2025年度股东会审议通过全部12项议案，包括2025年度利润分配方案，同意率99.98%。
Price adjustments & market operations价格调整与市场运营
12 · 2024-02-04 → 2026-06-15
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Wanhua adjusted product prices for MDI, TDI, benzene, styrene, and other chemicals in domestic and ASEAN markets.万华化学调整MDI、TDI、苯、苯乙烯等产品在国内及东盟市场的价格。
2024-02-04Wanhua Chemical Shandong 650,000 tons/year styrene new plant is in normal production and sales, selling at 8,900 yuan/ton in North China and 9,000 yuan/ton in East China.山东万华化学苯乙烯65万吨/年新装置正常产销，华北地区售价8900元/吨，华东地区9000元/吨。
2024-03-01Wanhua Chemical raised March 2024 listing prices: polymeric MDI to 20,000 yuan/ton (up 2,000 yuan/ton) and pure MDI to 25,200 yuan/ton (up 700 yuan/ton).万华化学2024年3月挂牌价上调：聚合MDI至20000元/吨（涨2000元/吨），纯MDI至25200元/吨（涨700元/吨）。
2025-01-20Wanhua Chemical announced a price increase of USD 200/ton for MDI and TDI in the ASEAN region, effective immediately, citing rising logistics, raw material, and energy costs.万华化学宣布对东盟地区MDI和TDI售价调涨200美元/吨，即日起生效，原因为物流、原材料和能源成本上涨。
2025-02-05Wanhua Chemical raised benzene乙烯 price by 150 yuan/ton in East China to 8900 yuan/ton and by 50 yuan/ton in North China to 8750 yuan/ton.万华化学华东地区苯乙烯上调150元/吨至8900元/吨，华北地区上调50元/吨至8750元/吨。
2025-02-08Wanhua Chemical raised MDI and TDI prices by 200 USD/ton in ASEAN region, effective January 15, 2025, following BASF's 300 USD/ton hike.万华化学自2025年1月15日起上调东盟地区MDI和TDI售价各200美元/吨，此前巴斯夫上调300美元/吨。
2025-02-10Wanhua Chemical lowered benzene乙烯 price by 100 yuan/ton in East China to 8800 yuan/ton and by 50 yuan/ton in North China to 8700 yuan/ton.万华化学华东地区苯乙烯下调100元/吨至8800元/吨，华北地区下调50元/吨至8700元/吨。
2025-02-10Wanhua Chemical raised butyl acrylate price by 100 yuan/ton in East China to 10800 yuan/ton.万华化学丙烯酸丁酯华东报价上调100元/吨至10800元/吨。
2025-12-04Wanhua Chemical raised styrene prices: East China up 100 yuan/t to 6,800 yuan/t, North China up 50 yuan/t to 6,700 yuan/t.万华化学上调苯乙烯价格：华东地区上调100元/吨至6800元/吨，华北地区上调50元/吨至6700元/吨。
2025-12-25Wanhua Chemical raised styrene prices: East China up 50 yuan/t to 6,750 yuan/t, North China up 50 yuan/t to 6,700 yuan/t.万华化学上调苯乙烯价格：华东地区上调50元/吨至6750元/吨，华北地区上调50元/吨至6700元/吨。
2026-02-28Wanhua Chemical raises bisphenol A (BPA) offer price to 8,300 yuan/ton (cash, ex-works, tax included) for its two 480kt/a BPA units, mainly supplying its downstream 600kt/a polycarbonate (PC) plant and contract customers.万华化学将双酚A报价上调至8300元/吨（现款现汇、自提含税），其两套48万吨/年双酚A装置正常运行，产品主要配套下游60万吨/年PC装置及合约用户。
2026-06-04Wanhua Chemical raised benzene prices: East China +50 to 9,200 CNY/t, North China +50 to 9,100 CNY/t.万华化学上调苯乙烯价格：华东地区上调50元至9200元/吨，华北地区上调50元至9100元/吨。
2026-06-15Wanhua Chemical lowered benzene prices: East China -500 to 8,600 CNY/t, North China -550 to 8,450 CNY/t.万华化学下调苯乙烯价格：华东地区下调500元至8600元/吨，华北地区下调550元至8450元/吨。
ESG & green initiativesESG与绿色倡议
2 · 2024-02-07 → 2026-04-26
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Wanhua advanced energy efficiency, green methanol, and low-carbon projects, including waste heat utilization and green supply chain.万华化学推进能效提升、绿色甲醇及低碳项目，包括废热利用和绿色供应链。
2024-02-07Wanhua Chemical-Haihe comprehensive smart energy project put into use, using global first-of-its-kind heating technology to convert chemical waste heat into heating source.万华化学—河海综合智慧能源项目投用，通过全球首创供热技术将化工废热转化为供暖热源。
2026-04-26Wanhua Chemical's subsidiary plans to engage in futures and swap hedging for LPG, lithium carbonate, natural gas, electricity, and carbon emission rights, with margin not exceeding 10% of net profit.万华化学子公司拟开展液化石油气、碳酸锂、天然气、电力、碳排放权等期货及掉期套期保值业务，保证金不超过净利润的10%。
Share pledges and capital actions股份质押与资本运作
31 · 2024-02-20 → 2026-06-23
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Share pledges by major shareholders, pledge releases, and share buyback plan大股东股份质押、解押及股份回购计划
2024-02-20Wanhua Chemical's shareholder Ningbo Zhongkaixin Venture Capital pledged 43.4 million shares, accounting for 14.38% of its holdings.万华化学股东宁波市中凯信创业投资股份有限公司质押4340万股，占其持股数量14.38%。
2024-07-08Shareholder Zhongkaixin Venture Capital pledged 69.4 million shares of Wanhua Chemical, representing 22.99% of its holdings.股东中凯信创投质押万华化学6940万股，占其持股数量的22.99%。
2024-09-09Wanhua Chemical's shareholders pledged 205 million shares (6.54% of total equity) with a market value of CNY 14.494 billion; pledging shareholders include Prime Partner International, Ningbo Zhongkai Xin, and Yantai Zhongcheng Investment.万华化学股东质押2.05亿股（占总股本6.54%），质押总市值144.94亿元；质押股东包括Prime Partner International、宁波市中凯信创业投资、烟台中诚投资。
2024-09-26Shareholder Yantai Zhongcheng Investment extended the pledge of 14 million shares (10.86% of its holdings) to Zhongtai Securities, with the new expiry date set to 2025-09-25, for debt investment purposes.股东烟台中诚投资将1400万股股份质押展期至2025年9月25日，质权人为中泰证券，资金用于债权类投资。
2024-11-21Wanhua Chemical's shareholder Prime Partner International (Synthetic International) pledges 4 million shares to Qingdao Bank, bringing total pledged shares to 59.20% of its holdings.万华化学股东合成国际将400万股质押给青岛银行，累计质押股份占其持股的59.20%。
2024-12-13Yantai Zhongcheng Investment Co., Ltd., a shareholder of Wanhua Chemical, pledged 4 million shares of the company, bringing its total pledged shares to 39.89 million (12.07% of its holding, 1.27% of total shares).万华化学股东烟台中诚投资股份有限公司质押400万股公司股份，累计质押3989万股（占其持股12.07%，占总股本1.27%）。
2025-01-21Shareholder Prime Partner International Limited (合成国际控股有限公司) pledged 7 million shares of Wanhua Chemical to Dalian Bank Beijing Branch as loan guarantee, increasing cumulative pledged shares to 109 million (63.24% of its holdings).股东合成国际控股有限公司将700万股万华化学股份质押给大连银行北京分行作为借款担保，累计质押股份增至1.09亿股（占其持股63.24%）。
2025-02-17Shareholder Prime Partner International (合成国际) pledged an additional 7.25 million shares of Wanhua Chemical, bringing total pledged shares to 116.66 million (67.43% of its holdings).股东合成国际控股有限公司新增质押万华化学725万股，累计质押1.17亿股（占其持股67.43%）。
2025-03-04Non-controlling shareholder Yantai Zhongcheng Investment pledged 25 million shares (0.8% of total) to Tibet Trust for debt investment, with cumulative pledges reaching 19.64% of its holdings.非控股股东烟台中诚投资股份有限公司将2500万股（占总股本0.8%）质押给西藏信托用于债权类投资，累计质押占其持股19.64%。
2025-03-17Shareholder Yantai Zhongcheng Investment released 13.89 million shares from pledge (4.2% of its holdings), reducing cumulative pledged shares to 51 million (15.44% of its holdings).股东烟台中诚投资解除质押1389万股（占其持股4.2%），累计质押降至5100万股（占其持股15.44%）。
2025-04-07Chairman Liao Zengtai proposed a share buyback of 300-500 million RMB for capital reduction, with price cap at 150% of 30-day average before board resolution.董事长廖增太提议以3-5亿元回购公司股份用于减资，回购价格上限为董事会决议前30个交易日均价的150%。
2025-04-15Board approved share buyback plan: 300-500 million RMB, price cap 99.36 RMB/share, shares to be cancelled for capital reduction; subject to shareholder meeting.董事会审议通过回购方案：3-5亿元，价格上限99.36元/股，回购股份用于注销减资；尚需股东大会审议。
2025-05-15Wanhua Chemical's 2024 annual general meeting approved a share buyback plan of 300-500 million yuan at a price not exceeding 99.36 yuan per share, with all repurchased shares to be cancelled to reduce registered capital.万华化学2024年年度股东大会审议通过股份回购方案，回购金额3-5亿元，价格不超过99.36元/股，回购股份全部注销以减少注册资本。
2025-06-04Wanhua Chemical repurchases 185,500 shares (0.0059% of total) on June 3 at avg price ~54.3 yuan, total cost ~10.08 million yuan, as part of a 300-500 million yuan buyback plan approved on May 15, 2025.万华化学于6月3日回购185,500股（占总股本0.0059%），均价约54.3元，总金额约1008万元，此为2025年5月15日批准的3-5亿元回购计划的一部分。
2025-06-19Shareholder Yantai Zhongcheng Investment pledges 30 million shares (9.08% of its holding, 0.96% of total) on June 19; cumulative pledges reach 81 million shares (24.52% of its holding).股东烟台中诚投资于6月19日质押3000万股（占其持股9.08%，总股本0.96%）；累计质押8100万股（占其持股24.52%）。
2025-07-01Wanhua Chemical completed share buyback of 9.275 million shares (0.30% of total shares) for 499.98 million yuan, to be cancelled to reduce registered capital.万华化学完成回购927.5万股（占总股本0.30%），使用资金4.9998亿元，将注销以减少注册资本。
2025-07-14Wanhua Chemical cancelled 9.275 million repurchased shares, reducing total shares from 3.140 billion to 3.130 billion.万华化学注销927.5万股回购股份，总股本从31.40亿股减少至31.30亿股。
2025-07-15Shareholder Ningbo Zhongkaixin Venture Capital (9.64% stake) released pledge on 13 million shares, reducing pledged shares to 70 million (23.19% of its holding).股东宁波市中凯信创业投资（持股9.64%）解除质押1300万股，质押股份降至7000万股（占其持股23.19%）。
2025-07-31Shareholder Prime Partner International Limited (5.53% stake) plans to sell up to 17 million shares (0.54% of total) via block and auction from Aug 22 to Nov 21, 2025, citing funding needs.股东Prime Partner International Limited（持股5.53%）计划于2025年8月22日至11月21日减持不超过1700万股（占总股本0.54%），原因为资金需求。
2025-08-01Shareholder Prime Partner International Limited plans to reduce its stake by up to 0.54% of total shares via block and/or centralized竞价 trading.股东Prime Partner International Limited拟通过集中竞价及/或大宗交易减持不超过总股本0.54%的股份。
2025-10-23Shareholder Prime Partner International (合成国际) reduced its stake in Wanhua Chemical by 16.4696 million shares (0.53%) via centralized bidding from August 22 to October 22, 2025, lowering its holding to 5.00%; 11.665 million shares remain pledged.股东合成国际于2025年8月22日至10月22日通过集中竞价减持万华化学1646.96万股（0.53%），持股比例降至5.00%；另有1166.55万股被质押。
2025-10-31Shareholder Prime Partner International completed its share reduction plan, selling a total of 16.9999 million shares (0.54% of total shares) during the period.股东合成国际完成减持计划，期间合计减持万华化学1699.99万股（占总股本0.54%）。
2025-11-13Shareholder Prime Partner International Limited plans to reduce its stake by up to 15.6524 million shares (0.50% of total) via centralized竞价 from Dec 5, 2025 to Jan 31, 2026, citing funding needs.股东Prime Partner International Limited计划于2025年12月5日至2026年1月31日期间，通过集中竞价方式减持不超过1565.24万股（占总股本0.50%），原因为自身资金需求。
2025-11-28Shareholder Prime Partner International Limited released 13 million shares from pledge on Nov 27, 2025, reducing its pledged shares to 66.45% of its holdings (103.66 million shares, 3.31% of total).股东Prime Partner International Limited于2025年11月27日解除质押1300万股，剩余质押股份占其持股比例降至66.45%（约1.0366亿股，占总股本3.31%）。
2025-12-04Shareholder Synthetic International (Prime Partner International) pledged 9 million shares (0.29% of total) to Huaxia Financial Leasing for loan guarantee; cumulative pledged shares reached 72.22% of its holdings.股东合成国际（Prime Partner International）质押900万股（占总股本0.29%）给华夏金融租赁用于借款担保；累计质押占其持股72.22%。
2025-12-25Shareholder Yantai Zhongcheng Investment Co., Ltd. partially released pledge on its shares; after release, cumulative pledged shares stood at 55 million shares.股东烟台中诚投资股份有限公司部分股份解除质押，解除后累计质押5500万股。
2026-01-12Shareholder Prime Partner International Limited completed a reduction of 15.8999 million shares (0.508% of total shares) from Dec 5, 2025 to Jan 8, 2026, with total proceeds of 1.195 billion yuan; actual reduction exceeded the plan by 247,545 shares due to operational error.股东Prime Partner International Limited于2025年12月5日至2026年1月8日合计减持1589.99万股（占总股本0.508%），减持总金额11.95亿元；因操作失误实际减持超出计划24.75万股。
2026-05-27Wanhua Chemical's AGM approved a resolution to use idle funds of up to 10 billion yuan for purchasing structured deposits with a term not exceeding 12 months.万华化学股东会审议通过使用不超过100亿元闲置资金购买结构性存款的议案，单笔期限不超过12个月。
2026-06-10Shareholder Yantai Zhongcheng Investment pledged 20 million shares (6.05% of its holdings) for debt investment; cumulative pledge ratio of Zhongcheng and Zhongkaixin reached 21.51%.股东烟台中诚投资质押2000万股（占其持股6.05%）用于债权类投资；中诚投资与中凯信累计质押比例达21.51%。
2026-06-17Shareholder Yantai Zhongcheng Investment released a pledge on 30 million shares (9.08% of its holdings), reducing its pledged shares to 36 million (10.90% of its holdings).股东烟台中诚投资解除质押3000万股（占其持股9.08%），质押股份降至3600万股（占其持股10.90%）。
2026-06-23Shareholder Ningbo Zhongkaixin Venture Capital released a pledge on 26 million shares (8.61% of its holdings), reducing its cumulative pledged shares to 44 million.股东宁波市中凯信创业投资股份有限公司解除质押2600万股（占其持股8.61%），累计质押股份降至4400万股。
Digital transformation and automation数字化转型与自动化
5 · 2024-02-20 → 2025-08-28
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EPROS software renewal, RPA software copyright, digital cooperation with Supcon, and procurement smart brainEPROS软件续约、RPA软件著作权、与中控技术数字化合作及采购智慧大脑
2024-02-20Wanhua Chemical renewed EPROS software cooperation agreement with Jiecheng Heli Technology to expand process management platform application for digital transformation.万华化学与杰成合力科技续签EPROS软件合作协议，扩大流程管理平台应用以推动数字化转型。
2024-09-09Wanhua Chemical registered a new software copyright 'RPA-based automatic foreign trade invoice and packing list system V1.0', bringing total new software copyrights in 2024 to 22, up 266.67% YoY.万华化学新注册《基于RPA的外贸发票箱单自动制作系统V1.0》软件著作权，2024年以来新注册软件著作权22个，较去年同期增加266.67%。
2024-10-23Wanhua Chemical senior management visited Supcon Technology (Zhongkong Jishu) to discuss deepening strategic cooperation in digital intelligence and industrial AI.万华化学高级管理层访问中控技术，探讨深化数智化与工业AI领域的战略合作。
2025-06-18Wanhua Chemical (Ningbo) applies Zhongkong Technology's time-series large model TPT at its 650 ktpa caustic soda plant, achieving pH control stabilization (6.8-8.2), neutralization time cut from 5h to 1h, saving ~200k yuan/year in neutralizing agent cost.万华化学（宁波）在65万吨/年烧碱装置应用中控技术时间序列大模型TPT，实现pH值稳定在6.8-8.2，中和时间从5小时压缩至1小时，年节约中和剂成本约20万元。
2025-08-28Wanhua Chemical signed a cooperation agreement with Tianyuande (Tianyuan Digao) to jointly build a 'Wanhua Chemical Procurement Smart Brain' for digitalized procurement management.万华化学与天源迪科签署合作协议，共同打造“万华化学采购智慧大脑”，实现采购管理数字化。
Polyurethane adhesives and polyether polyols聚氨酯胶粘剂与聚醚多元醇
5 · 2024-02-21 → 2026-05-18
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New PUR adhesive and polyether polyol projects, polyether polyol expansion EIA新建PUR胶粘剂和聚醚多元醇项目，聚醚多元醇扩产环评
2024-02-21Wanhua Chemical 30,000 tons/year polyurethane adhesive and combination polyether project environmental impact report solicitation draft published, located in Yantai Chemical Industrial Park.万华化学3万吨/年聚氨酯胶粘剂和组合聚醚项目环评征求意见稿公示，位于烟台化工产业园。
2024-11-07Wanhua Chemical obtains approval for 10 projects in Yantai, including 6 expansion and 4 new projects covering PUR adhesive, MS resin, polycarbonate, ADI, bisphenol A, MIBK, and others.万华化学10个项目获烟台市生态环境局批复，包括6个扩能改造项目和4个新建项目，涉及PUR聚氨酯胶、MS树脂、聚碳酸酯、ADI、双酚A、MIBK等产品。
2024-11-07Wanhua Chemical plans a 30,000 t/yr polyurethane adhesive and polyether polyol project in Yantai, with 15,000 t/yr each for PUR adhesive and polyether polyol.万华化学拟在烟台建设3万吨/年聚氨酯胶粘剂和组合聚醚项目，其中聚氨酯胶粘剂和组合聚醚各1.5万吨/年。
2026-05-11Wanhua Chemical disclosed EIA for polyether polyol expansion (Phase I) at Yantai, adding 262,000 t/y to reach 400,000 t/y POP, 300,000 t/y DMC polyether, and 100,000 t/y PPG230; construction June-October 2026.万华化学公示烟台聚醚多元醇扩能（一期）环评，新增26.2万吨/年，扩能后形成40万吨/年POP、30万吨/年DMC聚醚、10万吨/年PPG230规模，计划2026年6月开工、10月竣工。
2026-05-18Wanhua Chemical (Penglai) disclosed EIA for a differentiated polyether project, adding a 15,000 t/y epoxidized soybean oil polyether line via expansion of existing EOD unit.万华化学（蓬莱）差异化聚醚项目环评公示，依托现有EOD装置扩建1.5万吨/年环氧大豆油聚醚产线。
Research institutes & subsidiaries研究院与子公司
13 · 2024-02-22 → 2026-06-02
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Wanhua established or expanded subsidiaries and research centers, including battery materials and nutrition technology units.万华化学设立或扩建子公司及研发中心，包括电池材料和营养科技部门。
2024-02-22Wanhua Chemical's two projects (10,000 tons/year M-menthol project and catalyst preparation Phase III renovation) received environmental approval; M-menthol capacity to expand from 500 to 10,000 tons/year, adding 1,000 tons/year CNA and 1,000 tons/year LPOL.万华化学年产1万吨M醇项目、催化剂制备三期改扩建工程环评获批；M醇产能由500吨/年扩至1万吨/年，新增CNA 1000吨/年、LPOL 1000吨/年。
2024-05-22Sichuan Wanlu Industrial (Wanhua-controlled) PVDF project achieves substation power-on; 20 ktpa PVDF integrated project (Phase I 10 ktpa, Phase II 10 ktpa) with total investment ~RMB 1.3 billion, targeting battery-grade PVDF.四川万陆实业（万华控股）PVDF项目变电所受电成功；2万吨/年PVDF一体化项目（一期1万吨、二期1万吨），总投资约13亿元，目标电池级PVDF。
2024-07-04Wanhua Chemical's Yantai industrial park isophorone (IP) unit expansion project passed environmental assessment, expanding capacity from 50,000 t/y to 80,000 t/y.万华化学烟台化工产业园异佛尔酮（IP）装置扩能改造项目环评公示，产能由5万吨/年扩建至8万吨/年。
2024-10-17Foreign guests visited Wanhua Chemical's Cishan Global R&D Center during the 6th China-Central and Eastern European Countries Local Leaders Meeting.第六次中国—中东欧国家地方领导人会议期间，多国外宾参观万华化学磁山全球开发设计中心。
2025-03-04Wanhua Chemical commissioned the world's first 10,000 t/a bio-based 1,3-butanediol plant, using non-grain biomass feedstock and proprietary patented technology, targeting cosmetics and battery applications.万华化学建成投产全球首套万吨级生物基1,3-丁二醇装置，以非主粮生物质为原料，采用自主专利技术，面向化妆品和电池应用。
2025-03-13Wanhua Chemical Nutrition Technology achieved full-chain commissioning of vitamin A (VA) production, starting from isobutylene, breaking foreign monopoly with over 60 core patents, significantly reducing China's VA raw material import dependence.万华化学营养科技公司维生素A（VA）全产业链贯通投产，以异丁烯为起点，打破国外垄断，攻克60余项核心专利，大幅降低我国VA原料对外依存度。
2025-05-09Wanhua Chemical's HEMA (specialty ester) phase-two technical renovation and capacity expansion project was announced, adding 20,000 t/a to reach a maximum capacity of 55,000 t/a for HEMA and 55,000 t/a for HPMA.万华化学特种酯HEMA二期技改扩能项目公示，新增20000吨/年产能，扩能后HEMA最大产能可达55000吨/年，HPMA最大产能可达55000吨/年。
2025-06-04Wanhua Chemical announces neopentyl glycol (NPG) expansion: TMP unit converted to NPG, capacity raised from 50 ktpa to 100 ktpa; combined with earlier 60→90 ktpa revamp, total NPG capacity increases by 80 ktpa in three months.万华化学公布新戊二醇扩产：TMP装置转产新戊二醇，产能从5万吨/年提升至10万吨/年；叠加此前6→9万吨/年改造，三个月内新戊二醇总产能增加8万吨/年。
2025-07-21Wanhua Chemical plans to expand its polyether amine capacity at Yantai Chemical Industrial Park from 40,000 t/yr to 60,103 t/yr, as per EIA public consultation.万华化学计划在烟台化工产业园将聚醚胺产能从4万吨/年扩建至60103吨/年，环评报告征求意见稿已公示。
2025-09-04Wanhua Chemical (Sichuan) Battery Materials Co. held groundbreaking ceremony for phase I of its 120,000 t/y new anode material integrated project.万华化学（四川）电池材料有限公司年产12万吨新型负极材料一体化项目（一期）举行开工仪式。
2025-12-15Wanhua Chemical (Sichuan) held the kick-off meeting for its PVDF (emulsion method) project, with total investment of ~1.3 billion yuan, building 20,000 t/y PVDF capacity in Meishan, Sichuan.万华化学（四川）PVDF（乳液法）项目工艺包暨设计开工会举行，总投资约13亿元，在四川眉山建设2万吨/年PVDF产能。
2026-04-17Wanhua Chemical's 10,000-tonne/year TPAM (isopropanolamine) project in Yantai产业园 entered environmental impact assessment public consultation.万华化学1万吨/年TPAM（异丙醇胺）项目在烟台产业园进入环评征求意见阶段。
2026-06-02Wanhua Chemical plans to build a 4,000 t/y capped polyether project and a 100 t/y anti-fog agent line, leveraging existing facilities for internal raw material supply and cost reduction.万华化学计划建设年产4000吨封端聚醚项目和100吨防雾剂产线，利用现有厂房实现原料内部直供并降低成本。
Capacity expansion & projects产能扩张与项目
5 · 2024-02-29 → 2026-04-30
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Wanhua announced or advanced major capacity expansion projects in polyurethane, petrochemical, and new materials.万华化学宣布或推进聚氨酯、石化及新材料领域的重大产能扩张项目。
2024-02-29Wanhua Chemical Chairman Liao Zengtai announced at Yantai city mobilization meeting: invest over 130 billion yuan in Yantai over next five years, focusing on ethylene Phase II, fine chemicals projects, and new material low-carbon industrial park Phase I & II, to realize POE, XLPE, citral, POCHP, battery materials projects.万华化学董事长廖增太在烟台市动员大会宣布：未来五年在烟台投资超过1300亿元，重点建设乙烯二期、精细化学品项目和新材料低碳产业园一、二期，实现POE、XLPE、柠檬醛、POCHP、电池材料等项目。
2024-03-15Wanhua Chemical vice president Hua Weiqi stated the group plans to increase investment by 10 billion yuan in 2025-2026 and hopes to deploy fluorine chemical industry in Qingliu County.万华化学副总裁华卫琦表示集团将在2025-2026年增加100亿元投资，并希望在清流县布局氟产业。
2024-08-12Lanzhou LS Heavy Equipment completed the fabrication and installation of two 1500m³ tert-butylamine spherical tanks for Wanhua Chemical's special isobutylene derivative project (30,000 t/a tert-butylamine unit).兰石重装完成万华化学特种异丁烯衍生物项目3万吨/年叔丁胺装置2台1500m³叔丁胺球罐的制造安装。
2025-01-25Analyst report projects Wanhua Chemical's MDI capacity to increase from current 3.5 million tons to 4.9 million tons in 3-4 years, and TDI capacity from 950,000 tons to 1.42 million tons in 3 years, with ethylene Phase II (C2 capacity 2.2 million tons) starting in 2025.分析师报告预计万华化学MDI产能将从当前350万吨提升至490万吨（3-4年内），TDI产能从95万吨扩至142万吨（3年内），乙烯二期（C2产能220万吨）将于2025年投产。
2026-04-30Wanhua Chemical's 2026 major project plan: total investment of 27.3 billion yuan, including 11.05 billion yuan for new materials (LFP, etc.), 4.55 billion for petrochemical, 3.46 billion for polyurethane, and 3.44 billion for fine chemicals.万华化学2026年主要项目计划投资273亿元，其中新兴材料（磷酸铁锂等）110.5亿元，石化45.5亿元，聚氨酯34.6亿元，精细化学品34.4亿元。
Minority investments & stakes少数股权投资与参股
4 · 2024-03-01 → 2026-03-23
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Wanhua made equity investments in joint ventures and subsidiaries, including battery materials and new energy projects.万华化学在合资公司和子公司进行股权投资，涉及电池材料及新能源项目。
2024-03-01Wanhua Chemical, via its subsidiary Wanhua Battery, jointly invested 10 billion yuan to establish Yantai Lihua Power Technology Co., Ltd., building a 25GWh large cylindrical energy storage battery project in Yantai, with Wanhua contributing 60 million yuan for a 30% stake.万华化学通过子公司万华电池，联合投资100亿元成立烟台力华电源科技有限公司，建设25GWh大圆柱储能电池项目，万华出资6000万元占股30%。
2025-07-28Hehai New Energy, a joint venture of Wanhua Chemical, signed a 4-billion-yuan green methanol project (1 million t/yr) in Lanzhou New Area.万华化学合资公司河海新能源在兰州新区签约40亿元年产100万吨绿色甲醇项目。
2026-01-28Wanhua Heshan New Energy Development (Yantai) Co., Ltd. increased its registered capital from 1.054 billion yuan to 1.6 billion yuan, an increase of about 52%.万华河海新能源发展（烟台）有限公司注册资本由10.54亿元增至16亿元，增幅约52%。
2026-03-23Wanhua Chemical (Sichuan) Battery Materials Technology Co., Ltd. and Dazhong Mining signed an agreement to jointly invest in a 200,000-ton/year lithium salt project in Meishan, with phase one of 30,000 tons.万华化学（四川）电池材料科技有限公司与大中矿业签署协议，在眉山合作投资建设年产20万吨锂盐项目，一期3万吨。
Executive & governance高管与治理
10 · 2024-03-12 → 2026-05-29
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Changes in board, management appointments, share pledges, and shareholder commitments.董事会变动、管理层任命、股份质押及股东承诺。
2024-03-12Wanhua Chemical's controlling shareholder Yantai Guofeng Investment and two other shareholders committed not to reduce their holdings for the next 12 months.万华化学控股股东烟台国丰投资等三方承诺未来12个月内不减持股份。
2024-08-12Wanhua Chemical's board approved the 'Proposal on Determining Main Responsibilities and Main Businesses' at the 9th Board's 3rd meeting in 2024.万华化学董事会审议通过《关于确定主责主业的议案》。
2024-12-03Kou Guangwu was appointed as General Manager of Wanhua Chemical, transitioning from his previous role as Director and General Manager.寇光武被任命为万华化学总经理，此前担任董事兼总经理职务已退出。
2025-04-10Wanhua Chemical was named in a new lawsuit (2025-Su0411-MinChu6400) at Changzhou Xinbei District Court, case type: shareholder damage to creditor rights dispute.万华化学新增一起法院诉讼（2025苏0411民初6400号），案由为股东损害公司债权人利益责任纠纷。
2025-05-30Wanhua Chemical's 2024 annual cash dividend of 0.73 yuan per share (including tax) was distributed, totaling approximately 2.292 billion yuan, based on a total share capital of 3,139,746,626 shares.万华化学2024年年度权益分派每股派发现金红利0.73元（含税），共计派发约22.92亿元。
2025-07-21Executive VP Hua Weiqi bought 5,000 shares of Wanhua Chemical on July 21 at 59.49 yuan per share, showing confidence in the company.常务副总裁华卫琦于7月21日以59.49元/股买入5000股万华化学股票，显示对公司信心。
2026-04-26Wanhua Chemical disclosed its 2026 'Quality Improvement and Efficiency Enhancement' plan, committing to annual cash dividend of no less than 30% of distributable profit for 2024-2026.万华化学披露2026年度“提质增效重回报”方案，承诺2024-2026年每年现金分红不低于可分配利润的30%。
2026-05-27Wanhua Chemical elected Cong Hao as employee representative director to the 10th Board of Directors via workers' congress.万华化学职工代表大会选举丛浩为公司第十届董事会职工代表董事。
2026-05-29Wanhua Chemical's board nominated廖增太, 寇光武, 华卫琦, 王浩, 齐贵山, 王清春 as non-independent director candidates, and 武常岐, 王化成, 马玉国, 李君涛 as independent director candidates for the 10th Board.万华化学董事会提名廖增太、寇光武、华卫琦、王浩、齐贵山、王清春为第十届董事会非独立董事候选人，武常岐、王化成、马玉国、李君涛为独立董事候选人。
2026-05-29Wanhua Chemical's director and executive VP Hua Weiqi purchased 8,000 shares of the company at an average price of 73.52 yuan per share via open market, increasing his holdings to 15,000 shares.万华化学董事、常务副总裁华卫琦通过集合竞价买入公司股票8000股，均价73.52元/股，持股增至15000股。
Financial & credit events财务与信用事件
8 · 2024-03-13 → 2026-04-24
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Credit rating actions, bond issuance, dividend distribution, and financial performance updates.信用评级行动、债券发行、股息分配及财务业绩更新。
2024-03-13Moody's confirmed Wanhua Chemical's Baa2 issuer rating with a stable outlook, citing its global MDI leadership and healthy financials.穆迪确认万华化学Baa2发行人评级，展望稳定，肯定其全球MDI领先地位和健康财务状况。
2024-05-22Wanhua Chemical's net borrowing increased by RMB 25.839 billion in Q1 2024 vs end-2023, reaching RMB 116.666 billion; new borrowing equals 27.36% of end-2023 net assets (RMB 94.454 billion).万华化学2024年一季度末借款余额1166.66亿元，较2023年末新增258.39亿元，新增借款占上年末净资产（944.54亿元）的27.36%。
2024-08-06Fitch downgraded Wanhua Chemical's long-term foreign-currency issuer default rating from 'BBB+' to 'BBB', with stable outlook, citing delayed deleveraging due to high capex and slow earnings recovery.惠誉将万华化学长期外币发行人违约评级从'BBB+'下调至'BBB'，展望稳定，理由是高资本支出和盈利恢复缓慢导致去杠杆化推迟。
2024-11-05Wanhua Chemical's cumulative new borrowings reached 28.63 billion yuan as of Q3 2024, accounting for 30.31% of 2023 year-end net assets.截至2024年三季度末，万华化学累计新增借款286.3亿元，占2023年末净资产的30.31%。
2025-05-13Fitch Ratings withdrew Wanhua Chemical's 'BBB' long-term foreign-currency issuer default rating and senior unsecured rating, with stable outlook, due to the company's decision to no longer participate in the rating process.惠誉评级撤销万华化学'BBB'长期外币发行人主体评级及高级无抵押评级，展望稳定，因公司选择不再参与评级流程。
2025-09-01Wanhua Chemical reported 2025 H1 net profit of 6.123 billion yuan, down 25.10% YoY; Q2 net profit 3.041 billion yuan, down 24.30% YoY. Applied for 469 patents, granted 269, accelerating overseas patent layout.万华化学2025年上半年归母净利润61.23亿元，同比减少25.10%；第二季度归母净利润30.41亿元，同比下降24.30%。申请国内外发明专利469件，新获得授权269件，海外专利布局提速。
2026-01-22Wanhua Chemical used 2.5 billion yuan of idle funds to purchase principal-guaranteed floating-income structured deposits from commercial banks.万华化学使用25亿元闲置资金购买商业银行保本浮动收益型结构性存款。
2026-04-24Wanhua Chemical's 2.5 billion yuan structured deposit product matured, realizing a return of 12.6998 million yuan.万华化学25亿元结构性存款产品到期，实现收益1269.98万元。
MIBK capacity expansionMIBK产能扩张
9 · 2024-03-15 → 2026-05-13
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New 30kt MIBK project under construction, existing 15kt unit operating normally新建3万吨MIBK项目在建，现有1.5万吨装置正常运行
2024-03-15Wanhua Chemical filed a 30,000-ton/year methyl isobutyl ketone (MIBK) project with Shandong investment platform.万华化学年产3万吨甲基异丁基酮（MIBK）项目在山东省投资项目在线审批监管平台备案。
2024-11-29Wanhua Chemical's 30,000 t/yr MIBK expansion project is under construction, expected to start production in H1 2025.万华化学扩建的3万吨/年MIBK装置正在搭建中，预计2025年上半年投产出货。
2024-12-23Wanhua Chemical's 15 kt/yr MIBK plant is operating normally; the expansion to 30 kt/yr is under construction and expected to start production in H1 2025.万华化学1.5万吨/年MIBK装置正常运行，扩建至3万吨/年MIBK装置正在搭建中，预计2025年上半年投产出货。
2025-01-15Wanhua Chemical's 15,000-ton/year MIBK plant is operating normally, and a new 30,000-ton/year MIBK expansion is under construction, expected to start production in H1 2025.万华化学1.5万吨/年MIBK装置正常运行，扩建的3万吨/年MIBK装置正在搭建中，预计2025年上半年投产出货。
2025-02-26Wanhua Chemical's 15,000-ton/year MIBK plant is running normally; a 30,000-ton/year MIBK expansion is under construction, expected to start production in first half of 2025.万华化学1.5万吨/年MIBK装置正常运行，扩建3万吨/年MIBK装置在建，预计2025年上半年投产。
2025-05-26Wanhua Chemical's 30,000 t/a MIBK unit expansion is under construction, with commissioning date pending; the existing 15,000 t/a unit is operating normally.万华化学扩建3万吨/年MIBK装置正在搭建中，投产时间待定；现有1.5万吨/年装置正常运行。
2025-06-10Wanhua Chemical's 15 ktpa MIBK unit runs normally; expansion to 30 ktpa MIBK is under construction with startup date pending.万华化学1.5万吨/年MIBK装置正常运行，扩建至3万吨/年MIBK装置在建，投产时间待定。
2026-01-26Yantai Wanhua Chemical's 30,000 tons/year MIBK unit delayed its planned startup to March 2026.烟台万华化学3万吨/年MIBK装置投产计划延后至2026年3月。
2026-05-13Wanhua Chemical's 30,000 t/y MIBK unit in Yantai is under normal operation and expected to start production in June 2026.万华化学烟台3万吨/年MIBK装置正常运行，预计2026年6月投产。
Isocyanate curing agents and HDI异氰酸酯固化剂与HDI
9 · 2024-03-18 → 2025-11-19
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Self-developed isocyanate curing agent startup, low-VOC HDI curing agents, Vencorex acquisition, HMDI expansion自研异氰酸酯固化剂投产、低VOC HDI固化剂、收购Vencorex、HMDI扩产
2024-03-18Wanhua Chemical announced that its self-developed isocyanate curing agent, polyether amine, and methylamine plants started up successfully in one go, with industry-leading indicators.万华化学自主研发的异氰酸酯固化剂、聚醚胺、甲基胺装置一次性开车成功，各项指标行业领先。
2024-05-08Wanhua Chemical showcases low-VOC HDI polyurethane curing agents (WANNATE HT-PLUS series, free HDI monomer <0.1%) and waterborne resins (Aquolin, Antkote, etc.) at the American Coatings Show.万华化学在美国涂料展上展示低VOC HDI聚氨酯固化剂（WANNATE HT-PLUS系列，游离HDI单体<0.1%）和水性树脂（Aquolin、Antkote等）。
2025-04-09Wanhua Chemical released EIA disclosure for HMDI expansion project in Yantai: capacity from 20,000 t/yr to 40,000 t/yr, also co-producing 30,000 t/yr HDI.万华化学发布烟台HMDI扩能项目环评公示：产能由2万吨/年扩至4万吨/年，并兼产3万吨/年HDI。
2025-04-15Wanhua Chemical completed acquisition of Vencorex's specialty isocyanate business in France, including a core production base and 70,000 t/yr HDI capacity.万华化学完成对法国康睿（Vencorex）特种异氰酸酯业务的收购，包括其核心生产基地及7万吨/年HDI产能。
2025-04-16At European Coatings Show 2025 in Nuremberg, Wanhua Chemical launched new isocyanate curing agents (WANNATE IT-170B/S, HTBL/ITBL) and water-based ink resins.在2025年欧洲涂料展上，万华化学推出多款高性能异氰酸酯固化剂（WANNATE IT-170B/S、HTBL/ITBL）及水性油墨树脂。
2025-06-26Wanhua Chemical announces IPDA (isophorone diamine) capacity expansion project, completing the IP-IPN-IPDA-IPDI full chain; complements recent acquisition of Vencorex (20 ktpa IPDI) and existing HDI/HMDI expansions.万华化学公布异佛尔酮二胺（IPDA）扩能项目，完善IP-IPN-IPDA-IPDI全产业链；配合近期收购法国康睿（2万吨/年IPDI）及现有HDI/HMDI扩产项目。
2025-08-21Wanhua Chemical launched WANNATE HTBL, a blocked HDI trimer for weather-resistant one-component polyurethane baking paints, targeting coil, can, and automotive OEM coatings.万华化学推出WANNATE HTBL封闭型HDI三聚体，用于耐光单组分聚氨酯烤漆，面向卷钢、罐头、汽车OEM涂料。
2025-10-27Wanhua Chemical acquired the specialty isocyanate business of France's Covestro (康睿) via its Hungarian subsidiary BorsodChem, obtaining 70,000 tons/year of HDI capacity, making it the world's largest HDI producer.万华化学通过匈牙利子公司宝思德化学收购法国康睿的特种异氰酸酯业务，获得7万吨/年HDI产能，成为全球最大HDI生产商。
2025-11-19Yantai Ecological Environment Bureau approved environmental impact reports for Wanhua Chemical's polyether amine expansion project and polyurethane curing agent Phase I expansion project.烟台市生态环境局对万华化学聚醚胺扩能项目和聚氨酯固化剂一期扩能技改项目的环评文件作出审批决定。
POE project rolloutPOE项目推进
11 · 2024-03-29 → 2025-03-24
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Phase I 200kt POE startup, Phase II 400kt construction, distributor deals, and technology award一期20万吨POE投产、二期40万吨建设、经销商合作及技术奖项
2024-03-29Wanhua Chemical disclosed that its 200,000-ton/year POE project is expected to start production in Q2 2024, and the second-phase 400,000-ton/year POE project in Penglai is under construction, targeting completion by end of 2025, bringing total POE capacity to 600,000 tons/year.万华化学披露一期20万吨/年POE项目预计2024年二季度投产，二期蓬莱基地40万吨/年POE项目已开工，预计2025年末建成，总产能达60万吨/年。
2024-04-01Wanhua Chemical's first-phase 200,000 t/a POE project is expected to start production in H1 2024; second-phase 400,000 t/a POE project in Penglai base is expected to be completed by end of 2025, bringing total POE capacity to 600,000 t/a.万华化学一期年产20万吨POE项目预计2024年上半年投产，二期蓬莱基地年产40万吨POE项目预计2025年末建成，总产能达60万吨/年。
2024-04-22Wanhua Chemical showcased sustainable products and highlighted its POE product at CHINAPLAS 2024, noting that its POE has been validated in the market for 3 years since pilot plant startup and gained recognition from top customers.万华化学在CHINAPLAS 2024展示可持续产品并重点推介POE，其POE产品自中试装置投产以来历经3年市场验证，获多家头部客户认可。
2024-05-08Wanhua announces Phase I 200 ktpa POE plant to start production in H1 2024; Phase II 400 ktpa POE plant in Penglai under construction, targeting end-2025, bringing total POE capacity to 600 ktpa. Partners with Hangzhou First Applied Material and Trina Solar on POE film JV.万华宣布一期20万吨/年POE装置2024年上半年投产；二期蓬莱40万吨/年POE项目在建，预计2025年末建成，总产能达60万吨/年。与福斯特、天合光能合作成立POE胶膜合资企业。
2024-07-01Wanhua Chemical's first-phase 200,000 t/y POE project achieved full process flow and produced qualified products, marking China's first large-scale self-developed POE industrial unit successful startup.万华化学一期20万吨/年POE项目实现全流程贯通并产出合格产品，标志着中国首套大规模自主研发的POE工业化装置一次性高质量开车成功。
2024-07-10Wanhua Chemical held the first shipment ceremony for POE products, marking full commercialization from R&D to sales; attended by Kingfa, Pret, and Huatong.万华化学举行POE首批发车仪式，标志着从研发到销售的全线贯通；金发科技、普利特、会通新材料出席。
2024-08-20Wanhua Chemical chairman Liao Zengtai confirmed that Yantai Industrial Park's 1.2 million t/a Phase II ethylene project, 12 fine chemical projects, and Penglai low-carbon park Phase I will all be completed by end of 2024; Penglai Phase II 400,000 t/a POE project to be completed by end of 2025.万华化学董事长廖增太确认烟台工业园120万吨/年二期乙烯项目、12个精细化学品项目及蓬莱低碳产业园一期项目年底全部投产；蓬莱二期40万吨/年POE项目明年底建成。
2024-12-11Wanhua Chemical disclosed at the Q3 2024 earnings call that four major projects are expected to start production in 2025: Phase II 400 kt/yr POE, high-end alpha-olefins (1-octene, 1-hexene), Phase I 1 Mt/yr ethylene revamp, and Phase II 1.2 Mt/yr ethylene. The existing 200 kt/yr POE plant is running at full capacity.万华化学在2024年第三季度业绩说明会上披露，二期40万吨POE、高端α-烯烃（1-辛烯、1-己烯）、一期百万吨乙烯改造、二期年产120万吨乙烯四大项目有望于2025年投产；现有20万吨/年POE装置满负荷运行。
2025-01-27Wanhua Chemical's 'High-Performance Polyolefin Elastomer (POE)' was selected as one of Shandong Province's Top 10 Scientific and Technological Innovations of 2024. Its Phase I 200,000-ton/year POE plant is running at full capacity, and Phase II 400,000-ton/year POE project in Penglai is under construction, targeting completion by end-2025, bringing total POE capacity to 600,000 tons/year.万华化学“高性能聚烯烃弹性体(POE)”入选2024年度山东省十大科技创新成果。一期20万吨/年POE项目满负荷运行，蓬莱二期40万吨/年POE项目已开工，预计2025年末建成，总产能将达60万吨/年。
2025-03-03Wanhua Chemical (Penglai) started construction of a 400,000 t/a polyolefin elastomer (POE) project, using self-developed technology, as downstream of ethylene phase II, expected to be completed by end of 2025, bringing total POE capacity to 600,000 t/a.万华化学（蓬莱）启动40万吨/年聚烯烃弹性体（POE）项目建设，采用自主研发技术，作为乙烯二期下游产品，预计2025年末建成，届时POE总产能达60万吨/年。
2025-03-24Wanhua Chemical held its 2025 POE distributor conference in Yantai, signing a POE distributor cooperation agreement with Silian Venture Group to deepen collaboration in market expansion, technical service, and supply chain optimization.万华化学在烟台举办2025年度POE经销商大会，与四联创业集团签署《POE经销商合作协议》，深化市场拓展、技术服务及供应链优化合作。
Debt issuance and financing债券发行与融资
13 · 2024-03-29 → 2026-03-27
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Ultra-short-term commercial paper, medium-term notes, and sci-tech innovation bonds超短期融资券、中期票据及科创票据发行
2024-03-29Wanhua Chemical issued the 2024 fifth tranche of ultra-short-term commercial paper (sci-tech innovation notes) on March 27, with funds received on March 28.万华化学于2024年3月27日发行2024年度第五期超短期融资券（科创票据），募集资金于3月28日到账。
2024-04-10Wanhua Chemical issued its 2024 sixth tranche of ultra-short-term commercial paper, with China Everbright Bank as lead underwriter, to repay 2 billion yuan in bank loans and optimize debt structure.万华化学发行2024年度第六期超短期融资券，由光大银行主承销，募集资金用于偿还20亿元银行贷款及优化债务结构。
2024-07-23Wanhua Chemical issued the first tranche of 2024 medium-term notes on the interbank market, with proceeds received on July 22.万华化学在全国银行间市场发行2024年度第一期中期票据，募集资金于7月22日到账。
2024-08-15Wanhua Chemical issued the 2024 second tranche of medium-term notes (sci-tech innovation notes) with a total amount of 1 billion yuan, 5-year term, interest rate 2.22%, funds received on August 19.万华化学发行2024年第二期中期票据（科创票据），总额10亿元，期限5年，利率2.22%，资金于8月19日到账。
2025-04-21Wanhua Chemical issued 2025 first tranche medium-term notes (sci-tech innovation notes) of 700 million RMB, 3-year tenor, interest rate 1.95%, rated AAA.万华化学发行2025年度第一期中期票据（科创票据）7亿元，期限3年，利率1.95%，主体评级AAA。
2025-05-12Wanhua Chemical issued the 2025 second tranche of medium-term notes (sci-tech innovation bonds) on the interbank market, with an actual total of 400 million yuan, a term of 3 years, and an interest rate of 1.91%.万华化学在全国银行间市场成功发行2025年度第二期中期票据（科技创新债），实际发行总额4亿元，期限3年，发行利率1.91%。
2025-05-19Wanhua Chemical issued the 2025 third tranche of sci-tech innovation bonds on the interbank market, with an actual total of 500 million yuan, a term of 180 days, and an interest rate of 1.63%.万华化学在全国银行间市场发行2025年度第三期科技创新债券，实际发行总额5亿元，期限180天，发行利率1.63%。
2025-05-23Wanhua Chemical issued the 2025 fourth tranche of sci-tech innovation bonds on the interbank market, with proceeds received on May 23, 2025.万华化学在全国银行间市场发行2025年度第四期科技创新债券，募集资金于2025年5月23日到账。
2025-06-06Wanhua Chemical issues 1.2 billion yuan 3-year science & technology innovation MTN (25 Wanhua Chemical MTN005) at 1.85% coupon, with 80% (960 million yuan) underwritten by China Everbright Bank.万华化学发行12亿元3年期科创中票（25万华化学MTN005），票面利率1.85%，80%（9.6亿元）由光大银行余额包销。
2025-06-13Wanhua Chemical issues second 1.2 billion yuan 3-year science & technology innovation MTN (25 Wanhua Chemical MTN006) at 1.83% coupon, with 78.33% (940 million yuan) underwritten by Industrial Bank.万华化学发行第二期12亿元3年期科创中票（25万华化学MTN006），票面利率1.83%，78.33%（9.4亿元）由兴业银行余额包销。
2026-01-29Wanhua Chemical successfully issued the 2026 first tranche of science and technology innovation bonds on the interbank market, with actual total issuance of 700 million yuan, interest rate of 1.65%, and term of 177 days.万华化学在全国银行间市场成功发行2026年度第一期科技创新债券，实际发行总额7亿元，利率1.65%，期限177天。
2026-03-19Wanhua Chemical issued the 2026 third tranche of technology innovation bonds in the interbank market.万华化学在银行间市场发行2026年度第三期科技创新债券。
2026-03-27Wanhua Chemical issued the 2026 fifth tranche of green technology innovation bonds, with funds received on March 26.万华化学发行2026年度第五期绿色科技创新债券，募集资金于3月26日到账。
MS resin and specialty polymersMS树脂及特种聚合物
3 · 2024-04-03 → 2025-08-12
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50kt MS resin project EIA, optical-grade MS resin startup, and modified functional plastics project5万吨MS树脂项目环评、光学级MS树脂投产及改性功能塑料项目
2024-04-03Wanhua Chemical's 50,000 t/a MS resin project in Yantai passed environmental impact assessment (EIA) public consultation.万华化学烟台化工产业园年产5万吨MS树脂项目环评公示。
2024-11-29Wanhua Chemical (Ningbo) completes first-phase environmental acceptance for a 150,000 t/yr modified functional plastics project, with 94,000 t/yr capacity (modified PP, PC, PA).万华化学（宁波）年产15万吨改性功能塑料项目（先行）竣工环保验收，第一阶段产能9.4万吨/年（改性PP、PC、PA）。
2025-08-12Wanhua Chemical's 50 kt/yr optical-grade MS (styrene-methyl methacrylate copolymer) resin project, based on self-developed solution polymerization, successfully started up and produced qualified products, filling a domestic gap in large-scale production.万华化学基于自主研发溶液聚合工艺的5万吨/年光学级MS（苯乙烯-甲基丙烯酸甲酯共聚物）树脂项目一次开车成功并产出合格品，填补了国内规模化生产空白。
Penglai industrial park蓬莱工业园
9 · 2024-04-10 → 2026-06-10
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POE Phase II, PDH unit, seawater desalination plant, and new subsidiary establishmentsPOE二期、PDH装置、海水淡化厂及新子公司设立
2024-04-10Wanhua Chemical (Penglai) Co., Ltd. jointly established Hehai New Energy Development (Penglai) Co., Ltd. with registered capital of 160 million yuan, covering energy storage technology, battery manufacturing, and new energy R&D.万华化学（蓬莱）有限公司等共同持股成立河海新能源发展（蓬莱）有限公司，注册资本1.6亿元，经营范围包括储能技术服务、电池制造等。
2024-07-18Wanhua Chemical established a wholly-owned subsidiary Penglai Wanxu New Materials Co., Ltd. with registered capital of 100 million yuan.万华化学成立全资子公司蓬莱万旭新材料有限公司，注册资本1亿元。
2024-12-02Wanhua Chemical established a wholly-owned trading subsidiary, Wanhua Chemical Group (Penglai) Trading Co., Ltd., with registered capital of CNY 10 million, covering sales of new ceramic materials, high-performance non-ferrous metals, graphite, carbon products, and electronic specialty materials.万华化学成立全资贸易子公司——万华化学集团（蓬莱）贸易有限公司，注册资本1000万元，经营范围包括新型陶瓷材料、高性能有色金属、石墨及碳素制品、电子专用材料销售。
2025-04-26Wanhua Chemical's Penglai Industrial Park EOD unit successfully started up, claimed as the industry's first 'zero-emission' production line with no solid waste, waste gas, or wastewater.万华化学蓬莱产业园EOD装置成功开车，号称行业首条“零排放”产线，实现无固废、无废气、无废水排放。
2025-04-28Wanhua Chemical's Penglai seawater desalination project was completed and put into operation, with a phase-one daily capacity of 100,000 tons, total investment of 1.8 billion yuan, and power consumption of 2.62 kWh per ton, becoming the global energy efficiency benchmark.万华化学蓬莱海水淡化项目竣工投产，一期日产淡水量10万吨，总投资18亿元，单吨产水运行电耗2.62度，成为全球能效标杆。
2025-04-29A seawater desalination plant designed and built by Suez for Wanhua Chemical's Penglai Industrial Park was completed and put into operation; Phase I capacity 100,000 m³/day.由苏伊士为万华化学蓬莱工业园设计建造的海水淡化厂竣工投产，一期规模10万吨/天。
2025-10-15Wanhua Chemical (Penglai) High-Performance Materials Co., Ltd. was established with a registered capital of 400 million yuan, wholly owned by Wanhua Chemical, covering new catalyst materials, non-metallic mineral products, and new material R&D.万华化学集团（蓬莱）高性能材料有限公司成立，注册资本4亿元，由万华化学全资持股，经营范围包括新型催化材料、非金属矿制品及新材料研发。
2026-04-22Wanhua Chemical's Penglai Industrial Park 900,000-tonne/year PDH unit and 600,000-tonne/year POCHP unit will undergo scheduled maintenance from April 26 for about 30 days.万华化学蓬莱工业园90万吨/年PDH装置和60万吨/年POCHP装置将于4月26日起停产检修约30天。
2026-06-10Wanhua Chemical completed scheduled maintenance at Penglai Industrial Park: 900,000 t/y PDH unit and 600,000 t/y POCHP unit resumed normal production after shutdown since April 26.万华化学蓬莱工业园90万吨/年PDH装置和60万吨/年POCHP装置完成计划检修，自4月26日停工后恢复生产。
Anti-dumping and trade disputes反倾销与贸易争端
3 · 2024-04-10 → 2026-02-16
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India anti-dumping on polyether polyols, US anti-dumping petition on MDI, and US antitrust lawsuit victory印度对聚醚多元醇反倾销、美国对MDI反倾销调查及美国反垄断诉讼胜诉
2024-04-10India's DGTR issued final anti-dumping ruling on polyether polyols (MW 3000-4000) from China and Thailand, recommending a duty of 534 USD/ton for Wanhua Chemical and 608 USD/ton for other Chinese producers.印度商工部贸易救济总署对原产于中国和泰国的分子量3000-4000聚醚多元醇作出反倾销肯定性终裁，建议对万华化学征收534美元/吨反倾销税。
2025-02-20BASF and Dow Chemical filed anti-dumping petition with US ITC against Chinese MDI imports, alleging dumping margins of 305%-507%; Wanhua Chemical is the world's largest MDI producer with 3.1 million-ton capacity.巴斯夫和陶氏化学向美国国际贸易委员会提交针对中国MDI的反倾销调查申请，指控倾销幅度305%-507%；万华化学为全球最大MDI生产商，产能310万吨/年。
2026-02-16Wanhua Chemical wins a major victory in a US antitrust class-action lawsuit; a Pennsylvania federal court dismisses the case for lack of personal jurisdiction, ruling that a parent-subsidiary relationship alone does not justify US court jurisdiction over the Chinese parent company.万华化学在美国反垄断集体诉讼中赢得重大胜利；宾夕法尼亚联邦法院以缺乏属人管辖权为由驳回案件，裁定仅凭母子公司关系不足以使美国法院对中国母公司行使管辖权。
Strategic partnerships with customers and suppliers客户与供应商战略合作
14 · 2024-04-11 → 2026-06-15
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Agreements with Nippon Paint, H.B. Fuller, Hempel, Blue Sail Medical, Oriental Yuhong, Sankeshu, Kuka Home, and others与立邦、富乐、海虹老人、蓝帆医疗、东方雨虹、三棵树、顾家家居等签约
2024-04-11Wanhua Chemical signed a strategic cooperation agreement with Nippon Paint China, covering business optimization, joint innovation, and a joint laboratory, and received the 'Excellent Supplier Award' as the first raw material supplier to win this from Nippon Paint China.万华化学与立邦中国签署战略合作协议，聚焦业务优化、联合创新及共建联合实验室，并获立邦中国首个原材料供应商‘优秀供应商奖’。
2024-06-25Wanhua Chemical Chairman Liao Zengtai visited Oriental Yuhong's headquarters to discuss overseas market expansion, diversified cooperation, and innovation mechanisms, building on their existing joint waterproof materials lab established in 2022.万华化学董事长廖增太赴东方雨虹总部考察交流，讨论海外市场拓展、多元合作及创新机制，双方此前于2022年成立防水材料联合实验室。
2024-07-05Wanhua Chemical signed a strategic cooperation agreement with H.B. Fuller, a global adhesive supplier, to deepen joint innovation and expand business layout.万华化学与全球粘合剂供应商富乐集团签署战略合作协议，深化联合创新，拓展业务布局。
2024-10-10Wanhua Chemical signed a strategic cooperation agreement with Hempel (Haihong Laoren) covering coatings and materials collaboration.万华化学与海虹老人签署战略合作协议，涵盖涂料与材料领域的合作。
2024-10-15Wanhua Chemical and Blue Sail Medical (Lanfan Yiliao) signed a strategic cooperation agreement and inaugurated a joint innovation lab, focusing on polyurethane gloves, medical catheters, PEBA, nylon, PC for medical devices.万华化学与蓝帆医疗签署战略合作协议并揭牌联合创新实验室，聚焦聚氨酯手套、医用导管、PEBA、尼龙、PC等医疗器械领域。
2024-11-19Wanhua Chemical and Blue Sail Medical deepen strategic cooperation on disposable polyurethane gloves, medical catheters, PEBA, PC, and other medical device fields.万华化学与蓝帆医疗深化战略合作，重点围绕一次性聚氨酯手套、医用导管、PEBA、PC等医疗器械领域。
2024-12-06Wanhua Chemical and Oriental Yuhong signed a strategic cooperation agreement at CHINACOAT 2024 to jointly develop waterborne polyurethane waterproof coatings, covering R&D, market expansion, and brand building.万华化学与东方雨虹在2024中国国际涂料展签署水性聚氨酯防水涂料战略合作协议，涉及产品研发、市场开拓和品牌建设。
2025-01-09Wanhua Chemical and Kuka Home (顾家家居) held a new product launch and signed a cooperation agreement, jointly launching two memory foam mattresses, deepening collaboration in material technology and sleep products.万华化学与顾家家居举办新品发布会并签署合作协议，联合推出两款记忆绵床垫，深化材料科技与睡眠产品领域的合作。
2025-01-12Wanhua Chemical signed a strategic agreement with Sankeshu (三棵树) for collaboration in industrial coatings, interior/exterior wall coatings, and building energy efficiency, covering product innovation, application development, and market promotion.万华化学与三棵树签署战略协议，合作领域涵盖工业涂料、内外墙涂料和建筑节能，涉及产品创新、应用开发及市场推广。
2025-01-24Blue Sail Medical (蓝帆医疗) disclosed a joint R&D with Wanhua Chemical on disposable polyurethane gloves, which are being launched to market.蓝帆医疗披露与万华化学联合研发的一次性聚氨酯手套已梯次推出市场。
2025-03-28Blue Sail Medical disclosed that its jointly developed polyurethane gloves with Wanhua Chemical were launched in August 2024, have reached commercial-grade qualification and stability, and are in small-scale production, not yet mass-produced.蓝帆医疗披露，其与万华化学联合研发的聚氨酯手套于2024年8月上市，产品合格率和稳定性已达商业化要求，已实现小规模生产，尚未大规模量产。
2025-05-15San Ke Shu (3Trees) and Wanhua Chemical signed a deepened strategic cooperation agreement in Yantai, focusing on high-end industrial coatings and domestic substitution.三棵树与万华化学在烟台签署深化战略合作协议，聚焦高端工业涂料领域国产替代。
2025-11-28Wanhua Chemical and Nippon Paint (立邦) signed a strategic cooperation agreement at CHINACOAT 2025, focusing on waterborne coatings for polyurethane glass-fiber composite profiles, covering R&D, market expansion, and standard setting.万华化学与立邦在CHINACOAT 2025现场签署战略合作协议，围绕聚氨酯玻纤复合型材用水性涂层展开技术研发、市场拓展和标准制定合作。
2026-06-15Wanhua Chemical signed a strategic cooperation agreement with Nippon Paint China, deepening joint development in green coatings and raw materials, with Wanhua becoming a core emulsion supplier.万华化学与立邦中国签署战略合作协议，深化绿色涂料及原材料联合开发，万华成为核心乳液供应商。
Strategic cooperation MoUs战略合作备忘录
21 · 2024-04-22 → 2026-06-25
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Wanhua signed multiple strategic cooperation agreements with suppliers, customers, and financial institutions.万华化学与供应商、客户及金融机构签署多项战略合作协议。
2024-04-22Wanhua Chemical's subsidiary Hunan Hongye New Materials signed a strategic cooperation agreement with Wanhua Chemical on recycled polycarbonate (PC) to launch post-consumer recycled PC product series.万华化学子公司湖南宏晔新材料与万华化学签订回收聚碳酸酯战略合作协议，推出消费后回收PC产品系列。
2024-05-15Wanhua Chemical signs framework agreement with Great Wall Mixing (stirring equipment supplier), making it a framework supplier for Wanhua's mixing needs.万华化学与长城搅拌签订框架协议，长城搅拌成为万华搅拌框架供应商。
2024-05-29Wanhua Chemical selects Wanxun Auto-control's intelligent positioners (non-explosion-proof, intrinsic safety, flameproof types) in its domestic positioner framework bidding.万华化学在国产定位器框架招标中选定万讯自控的非防爆、本安型及隔爆型智能定位器。
2024-06-15Wanhua Chemical signed a strategic cooperation agreement with China COSCO Shipping Group to build a global, green, and digital supply chain ecosystem.万华化学与中国远洋海运集团签署战略合作协议，围绕建设全球化、绿色化、数智化供应链生态体系。
2024-06-25Bank of China and Wanhua Chemical signed a comprehensive strategic cooperation agreement, focusing on major project financing and overseas business expansion.中国银行与万华化学签署全面战略合作协议，聚焦重大项目融资及海外业务拓展。
2024-07-23Wanhua Chemical signed a project cooperation agreement with ADNOC, Borealis, and Borouge to form a 50:50 JV for a 1.6 million t/y specialty polyolefin facility in Fuzhou, Fujian.万华化学与阿布扎比国家石油公司、北欧化工、博禄化学签署协议，拟按50:50持股比例在福建福州建设一套160万吨/年特种聚烯烃一体化设施。
2024-08-28Wanhua Chemical signed a Strategic Cooperation Framework Agreement with Kuwait's Petrochemical Industries Company (PIC) to deepen cooperation in petrochemical industry high-quality development.万华化学与科威特石化工业公司（PIC）签署《战略合作框架协议》，深化石化产业高质量发展合作。
2024-09-04Wanhua Chemical and Haichen Energy Storage (Hithium) signed a strategic cooperation agreement covering battery materials, energy storage solutions, battery and material recycling, sodium-ion technology, IT, and a joint laboratory.万华化学与海辰储能签署战略合作协议，合作涵盖电池材料、储能产品、电池及材料回收、钠电技术、信息技术及共建联合实验室六大领域。
2024-09-06Wanhua Chemical signed a procurement framework contract with Globe Cable (球冠电缆) for the supply of 1kV/20kV/35kV power cables from 2024-08-20 to 2025-07-31.万华化学与球冠电缆签订采购框架合同，约定供应1kV/20kV/35kV电力电缆，供应期限为2024年8月20日至2025年7月31日。
2024-09-30Air Liquide and Wanhua Chemical signed a strategic cooperation and long-term gas supply agreement; Air Liquide will invest nearly EUR 60 million to acquire and operate an air separation unit in Yantai, Shandong, and install a new liquid argon unit, with the unit expected to start operations by end-2024.液化空气集团与万华化学签署战略合作及长期供气协议；液化空气将投资近6000万欧元收购并运营烟台一套空分装置，安装新液氩装置，预计2024年底投运。
2025-01-20Wanhua Chemical and Dehe Technology (德和科技) signed a cooperation agreement to jointly promote domestic production and IP autonomy of polyurethane materials for low-temperature liquid cargo containment systems (VLEC, ULEC, LNGC, GST).万华化学与德和科技签订合作协议，共同推动聚氨酯材料在低温液货围护系统（VLEC、ULEC、LNGC、GST）上的国产化和知识产权自主化。
2025-03-19Emerson and Wanhua Chemical held strategic cooperation framework agreement discussions in Yantai, aiming to deepen automation control, data monitoring, and intelligent management for Wanhua's production processes.艾默生与万华化学在烟台就未来合作框架协议进行深入交流，旨在深化自动化控制、数据监测与智能化管理合作。
2025-06-12Wanhua Chemical announces strategic cooperation with ElevenEs to supply high-performance LFP cathode materials and integrated solutions for European battery supply chain localization.万华化学宣布与ElevenEs战略合作，为其提供高性能磷酸铁锂正极材料及一体化解决方案，推动欧洲电池材料供应链本地化。
2025-06-27Bank of Beijing and Wanhua Chemical discuss comprehensive strategic cooperation, focusing on technology finance, green finance, supply chain finance, and talent finance to support Wanhua's global operations.北京银行与万华化学就开启全面战略合作进行交流，聚焦科技金融、绿色金融、供应链金融、人才金融等领域，支持万华全球化运营。
2025-09-05Wanhua Chemical and Aier New Materials jointly held a polyurea material solution launch event at PU China 2025, marking the start of deep strategic cooperation.万华化学与爱尔新材在2025中国国际聚氨酯展览会上联合发布聚脲材料解决方案，开启深度战略合作。
2025-10-10Wanhua Chemical, Haitian Technology, and ENGEL signed a tripartite strategic cooperation agreement at the K Fair in Düsseldorf, Germany, focusing on 'material-equipment-mold' full-chain synergy for automotive parts, including clearmelt process and polycarbonate materials.万华化学、海泰科与ENGEL在德国杜塞尔多夫K展签署三方战略合作协议，聚焦汽车零部件的“材料-设备-模具”全链条协同，包括clearmelt工艺及聚碳酸酯材料。
2026-01-13Juren New Material and Wanhua Chemical signed a strategic cooperation agreement in Yantai, focusing on PCL raw material supply, with Juren becoming Wanhua's core PCL supplier and Wanhua becoming Juren's largest customer.聚仁新材与万华化学在烟台签署战略合作协议，聚焦PCL原料供应，聚仁成为万华PCL核心供应商，万华成为聚仁最大用户。
2026-03-18Wanhua Chemical and Hebei Lunte Group conducted in-depth technical exchange on polyurethane-modified asphalt for heavy-load and cold-region roads.万华化学与河北伦特集团就聚氨酯改性沥青技术进行深度交流，应用于重载及高寒地区道路。
2026-04-22Wanhua Chemical signed a strategic cooperation agreement with Autoliv at CHINAPLAS 2026 to jointly develop innovative steering wheel materials.万华化学在CHINAPLAS 2026与奥托立夫签署战略合作协议，共同研发方向盘创新材料。
2026-04-23Wanhua Chemical, ENGEL, and Qingdao Haitec demonstrated in-mold coating process for automotive B-pillar at CHINAPLAS 2026, forming a strategic partnership.万华化学、ENGEL和青岛海泰科在CHINAPLAS 2026上展示模内成型工艺汽车B柱外饰板，达成战略合作。
2026-06-25At the 18th Shanghai International Water Expo, Wanhua Chemical launched new hollow fiber ultrafiltration membranes, industrial RO membranes, seawater desalination membranes, and nanofiltration membranes, and signed strategic cooperation agreements with Suez and Luxi Environment.在第18届上海国际水展上，万华化学推出新一代中空纤维超滤膜、工业反渗透膜、海水淡化膜、纳滤膜等产品，并与苏伊士、鲁信环境签署战略合作协议。
Logistics and shipping物流与航运
4 · 2024-04-23 → 2026-05-09
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VLEC vessel deliveries, ethane carrier lease, and new storage & transportation subsidiaryVLEC船舶交付、乙烷运输船租赁及新仓储运输子公司
2024-04-23The first 99,000 m3 very large ethane carrier (VLEC) 'GAS CHANGJIANG', built by Jiangnan Shipyard for Wanhua Chemical, was delivered, aiming to improve the ethylene chain profitability of Wanhua's Yantai petrochemical business.江南造船为万华化学建造的首艘99000立方米超大型乙烷双燃料运输船‘GAS CHANGJIANG’号命名交付，旨在改善万华烟台石化乙烯产业链盈利能力。
2024-07-23Wanhua Chemical's subsidiary Wanrong New Materials signed a lease agreement for 9 VLEC ethane carriers with AW Shipping, built by Jiangnan Shipyard.万华化学子公司万融新材料与AW Shipping签署9艘VLEC乙烷船舶租赁协议，由江南造船集团建造。
2024-11-15Wanhua Chemical takes delivery of the third 99,000 m³ VLEC (very large ethane carrier) 'GAS ZHUJIANG' built by Jiangnan Shipyard.万华化学接收第三艘99000立方米超大型乙烷双燃料运输船（VLEC）“GAS ZHUJIANG”，由江南造船建造。
2026-05-09First 100,000 m³ VLEC 'PACIFIC DUBHE' was named and delivered for Wanhua Chemical's ethane transport, part of a 7-vessel project with Shandong Marine Energy under long-term time charter.首艘10万立方米超大型乙烷运输船（VLEC）“天枢轮”命名交付，为万华化学提供乙烷运输服务，系山东海洋能源与万华化学7艘船合作项目的一部分。
Battery materials and LFP projects电池材料与磷酸铁锂项目
26 · 2024-04-30 → 2026-06-23
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Battery material solutions, LFP capacity buildout at Haiyang and Laizhou, and green electricity industrial park电池材料解决方案、海阳和莱州磷酸铁锂产能建设及绿电产业园
2024-04-30Wanhua Chemical presented new battery material solutions (NMP, PAA, PVDF, etc.) at the 16th China International Battery Fair, covering Li-ion and Na-ion battery cathode/anode materials, electrolytes, and solvents.万华化学在第十六届中国国际电池技术展览会展示全新电池材料解决方案，涵盖锂/钠离子电池正负极材料、电解液、溶剂、辅材（NMP、PAA、PVDF等）。
2024-05-17Wanhua discloses battery material projects in production: 10 ktpa NCM cathode, 50 ktpa LFP, 80 ktpa NMP.万华披露已投产电池材料项目：1万吨/年三元正极、5万吨/年磷酸铁锂、8万吨/年NMP。
2024-06-14Wanhua Chemical (Yantai) Battery Materials Technology Co. filed EIA for battery-grade sulfate capacity expansion, raising nickel sulfate hexahydrate capacity from 10,000 to 18,000 tonnes of nickel metal equivalent annually.万华化学（烟台）电池材料科技公司公示电池级硫酸盐装置扩能改造环评，六水硫酸镍晶体产能从1万金吨提升至1.8万金吨。
2024-12-09Wanhua Chemical established a wholly-owned subsidiary, Wanhua Chemical (Haiyang) Battery Materials Technology Co., Ltd., with registered capital of CNY 450 million, focusing on electronic specialty materials R&D, wind/solar power technology, and battery leasing.万华化学成立全资子公司——万华化学（海阳）电池材料科技有限公司，注册资本4.5亿元，业务涵盖电子专用材料研发、风电/光伏技术服务和蓄电池租赁。
2024-12-23Wanhua Chemical (Haiyang) Battery Materials Technology Co., Ltd. filed a record for a green electricity industrial park Phase I 100 kt/yr lithium iron phosphate (LFP) project in Haiyang, Shandong.万华化学（海阳）电池材料科技有限公司在山东海阳备案了绿电产业园一期年产10万吨磷酸铁锂项目。
2025-02-11Wanhua Chemical signed investment agreement for Wanhua Green Electricity Industrial Park in Haiyang, Shandong, a pilot source-grid-load-storage project, targeting battery materials as second growth curve.万华化学与海阳市签署万华绿电产业园项目投资协议，该项目为山东省首批源网荷储试点，将电池材料作为第二增长曲线。
2025-02-11Wanhua Chemical chairman Liao Zengtai stated that the first-phase fourth-generation lithium iron phosphate plant at the Dingziwan Green Electricity Industrial Park will start production in first half of 2026.万华化学董事长廖增太表示，丁字湾绿电产业园一期第四代磷酸铁锂装置将于2026年上半年投产。
2025-02-24Wanhua Chemical's new-generation battery materials industrial park broke ground in Haiyang, Yantai, with total investment of 16.8 billion yuan, planning 100,000-ton LFP line by June 2026 and full completion by 2032.万华化学新一代电池材料产业园在烟台海阳开工，总投资168亿元，计划2026年6月投产10万吨磷酸铁锂生产线，2032年全部投产。
2025-02-25Wanhua Chemical's new battery materials park will be powered by 870 MW green electricity in a source-grid-load-storage integrated model, using self-developed LFP cathode and graphite anode technologies.万华化学新一代电池材料产业园配套87万千瓦绿电，实现源网荷储一体化，采用自主研发的磷酸铁锂正极和石墨负极技术。
2025-04-27Yantai Ecology and Environment Bureau approved the EIA for Wanhua Chemical's Green Electricity Industrial Park phase-one 100,000 t/a lithium iron phosphate project in Haiyang, Shandong, using fourth-generation high-compaction product, scheduled for completion in June 2026.烟台市生态环保局对万华化学绿电产业园一期年产10万吨磷酸铁锂项目环评作出审批意见，采用第四代高压实产品，计划2026年6月建成投产。
2025-08-25At the H1 results briefing, Wanhua Chemical stated its 4th-generation lithium iron phosphate (LFP) cathode material has achieved mass production and supply, while the 5th-generation LFP has completed its定型 (finalized) first release.万华化学在半年报业绩说明会上表示，第四代磷酸铁锂产品已实现量产供应，第五代磷酸铁锂产品完成定型首发。
2025-09-02Wanhua Chemical's green electricity industrial park phase I 100,000 t/y lithium iron phosphate (LFP) project plans to use self-developed new sintering technology, accelerating LFP Gen 4 and Gen 5 development and mass production; PVDF capacity also in planning.万华化学绿电产业园一期年产10万吨磷酸铁锂项目计划采用自主研发的新型铁锂烧结技术，加快推进磷酸铁锂四代、五代产品开发与量产；PVDF产能也在规划中。
2025-12-09Wanhua Chemical signed an investment agreement with Laizhou City Government for the 'Wanhua Laizhou Green Electricity Industrial Park' project, planning to build a 650,000 t/y lithium iron phosphate (LFP) plant.万华化学与莱州市政府签署“万华莱州绿电产业园”项目投资协议，规划建设年产65万吨磷酸铁锂项目。
2025-12-30Wanhua Chemical plans to build 1 million tons of iron phosphate and 1 million tons of lithium iron phosphate capacity by 2027, targeting top-tier global lithium battery materials supplier.万华化学规划到2027年建成100万吨磷酸铁与100万吨磷酸铁锂产能，目标跻身全球锂电材料第一梯队。
2026-01-19Wanhua Chemical Group (Laizhou) New Energy Materials Technology Co., Ltd. was established with registered capital of 740 million yuan, wholly owned by Wanhua Chemical (Yantai) Battery Industry Co., Ltd., covering electronic specialty materials R&D, manufacturing, and sales, as well as wind and solar power technology services.万华化学集团（莱州）新能源材料科技有限公司成立，注册资本7.4亿元，由万华化学（烟台）电池产业有限公司全资持股，经营范围包括电子专用材料研发、制造、销售及风电、光伏技术服务。
2026-01-20Two lithium iron phosphate (LFP) projects — Laizhou 650,000 tons/year LFP project and Haiyang Green Electricity Industrial Park phase II 200,000 tons/year LFP project — had their environmental impact assessment documents accepted by Yantai ecological environment bureau.莱州年产65万吨磷酸铁锂项目、海阳绿电产业园二期年产20万吨磷酸铁锂项目环评文件获烟台市生态环境局受理公示。
2026-02-28Wanhua Chemical plans three large-scale lithium iron phosphate (LFP) projects: Laizhou 650kt/a LFP, Haiyang Green Electricity Industrial Park Phase II 200kt/a LFP, and Phase III 200kt/a LFP, targeting 1 million tons each of iron phosphate and LFP capacity by 2027.万华化学规划三大磷酸铁锂项目：莱州年产65万吨磷酸铁锂、海阳绿电产业园二期年产20万吨磷酸铁锂、三期年产20万吨磷酸铁锂，目标2027年实现100万吨磷酸铁和100万吨磷酸铁锂产能。
2026-03-03Wanhua Chemical's three lithium iron phosphate projects with total capacity of 1.05 million tons received environmental impact assessment approval in Laizhou and Haiyang, Shandong.万华化学在山东莱州和海阳的三个磷酸铁锂项目（总产能105万吨）环评获批。
2026-03-30Wanhua Chemical Haiyang Green Electricity Industrial Park held the commissioning ceremony for phase one (100,000 tons/year lithium iron phosphate) and started construction of phase two.万华化学海阳绿电产业园举行一期项目（年产10万吨磷酸铁锂）投产暨二期开工仪式。
2026-04-02Wanhua Haiyang Green Electricity Industrial Park Phase I commenced production and Phase II broke ground; total planned investment 16.8 billion yuan, using LFP cathode material technology, with 4th-gen battery materials in mass production.万华海阳绿电产业园一期投产暨二期开工，计划总投资168亿元，采用磷酸铁锂正极材料技术，第四代电池材料已批量生产。
2026-04-17Wanhua Chemical Battery Technology Co., Ltd. listed on the 2026 SMM New Energy National Brand List, with 18 tech platforms and over 800 R&D staff; 4th-gen LFP material in mass production.万华化学集团电池科技有限公司入选2026 SMM新能源民族品牌榜，拥有18大技术平台和超800名研发人员，第四代磷酸铁锂材料已量产。
2026-04-20Wanhua Chemical's 2025 annual report showed battery subsidiary revenue of 8.562 billion yuan but net loss of 174 million yuan.万华化学2025年报显示电池子公司营业收入85.62亿元，但净亏损1.74亿元。
2026-05-22Wanhua Chemical stated at the performance briefing that Haiyang Phase I 100,000 t/y LFP project started production in March 2026; Phase II/III (200,000 t/y each) and Laizhou Phase I 320,000 t/y LFP project are on track for end-2026, adding 820,000 t/y total LFP capacity in 2026.万华化学在业绩说明会上表示，海阳一期10万吨/年磷酸铁锂项目已于2026年3月投产；二、三期（各20万吨/年）及莱州一期32万吨/年项目预计2026年末投产，2026年新增磷酸铁锂产能82万吨。
2026-05-25Wanhua Chemical (Hubei) New Energy Materials Co., Ltd., controlled by Wanhua and participated by Xingfa Group, is accelerating Phase I 240,000 t/y iron-process FePO4 project in Yidu, expected to start production in 2027.万华化学控股、兴发集团参股的万华（湖北）新能源材料有限公司在宜都推进一期24万吨铁法磷酸铁项目，预计2027年投产。
2026-06-05Wanhua Chemical (Yantai) Battery Industry Co., Ltd. increased registered capital from 1.8 billion to 4.0 billion CNY (+122%), and established two wholly-owned subsidiaries in Binzhou: Wanhua (Binzhou) New Energy Co., Ltd. (190 million CNY) and Wanhua (Binzhou) New Energy Materials Technology Co., Ltd. (510 million CNY).万华化学（烟台）电池产业有限公司注册资本由18亿元增至40亿元（增幅122%），并在滨州设立两家全资子公司：万华（滨州）新能源有限公司（1.9亿元）和万华（滨州）新能源材料科技有限公司（5.1亿元）。
2026-06-23Wanhua Chemical (Binzhou) New Energy Materials Technology Co., Ltd. published an EIA public notice for a 70,000 t/y battery-grade lithium carbonate project in Binzhou Beihai Economic Development Zone, with 2 lithium sulfate and 2 lithium carbonate production lines.万华（滨州）新能源材料科技有限公司发布年产7万吨电池级碳酸锂项目环评公示，位于滨州北海经济开发区，配套硫酸锂及碳酸锂生产线各2条。
R&D centers and innovation labs研发中心与创新实验室
8 · 2024-04-30 → 2025-11-25
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Barcelona R&D center, Shenzhen Research Institute, joint labs with BNBM, Blue Sail, and others巴塞罗那研发中心、深圳研究院、与北新建材、蓝帆医疗等联合实验室
2024-04-30Wanhua Chemical's Barcelona R&D center was inaugurated, marking a key step in its European and global expansion strategy to enhance customer responsiveness and innovation.万华化学巴塞罗那研发中心启用，标志着公司推进欧洲及全球化发展战略的重要一步，旨在提升客户响应速度和创新能力。
2024-05-26Wanhua Chemical and Beijing New Building Materials (BNBM) inaugurate joint innovation lab and sign strategic cooperation agreements at Wanhua's Cishan HQ.万华化学与北新建材在万华磁山总部举行联合创新实验室揭牌及系列战略合作签约仪式。
2024-06-15Wanhua Chemical inaugurated Wanhua Shenzhen Research Institute in Bao'an and signed a joint lab agreement with Shenzhen Advanced Electronic Materials Institute, focusing on electronic materials, synthetic biology, battery materials, and specialty chemicals.万华化学在宝安揭牌成立万华深圳研究院，并与深圳先进电子材料院签订联合实验室合作协议，聚焦电子材料、合成生物、电池材料和专用化学品。
2024-07-03Wanhua Chemical signed a strategic cooperation agreement with BNBM (Beijing New Building Materials) and inaugurated a joint innovation laboratory to explore green building materials.万华化学与北新建材签署战略合作协议，并举行联合创新实验室揭牌仪式，共同探索绿色建材。
2025-04-22Wanhua Chemical and Feiyang Junyan signed a strategic agreement to establish a joint R&D lab focusing on aspartic polyurea new materials and green chemistry.万华化学与飞扬骏研签署战略合作协议，共同成立联合研发实验室，聚焦天冬聚脲新材料及绿色化学。
2025-05-14Wanhua Chemical signed a strategic cooperation agreement with Guangzhou Bioland Laboratory to jointly advance bio-chemical technology breakthroughs and industrial upgrading.万华化学与广州生物岛实验室签署战略合作协议，共同推动生物化工技术突破与产业升级。
2025-05-27Wanhua Chemical and the Yantai Advanced Materials and Green Manufacturing Shandong Laboratory (Yellow-Bohai Laboratory) signed a project cooperation agreement for joint development of high-performance aluminum foil for batteries.万华化学与黄渤海实验室签署项目合作协议，联合开发电池用高性能铝箔。
2025-11-25Wanhua Chemical and Xinhe New Materials Co. held a挂牌 ceremony for a joint development laboratory, focusing on high-end coating materials and domestic high-performance raw materials, especially HDI curing agent substitution.万华化学与信和新材料股份有限公司举行联合开发实验室挂牌仪式，聚焦高端涂层材料与国产高性能原材料（特别是HDI固化剂国产化替代）。
ESG and sustainabilityESG与可持续发展
7 · 2024-05-14 → 2026-06-22
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Dual-carbon targets, ESG alliance membership, MSCI and CSI ESG ratings, and green recognition双碳目标、加入ESG联盟、MSCI和中证ESG评级及绿色认可
2024-05-14Wanhua Chemical sets dual-carbon targets: carbon peak by 2030, carbon neutrality by 2048. Plans >50% green electricity by 2030, full clean power for China parks by 2035. World-first HCl recycle oxidation project upgraded.万华化学提出双碳目标：2030年前碳达峰，2048年实现碳中和。计划2030年绿电占比超50%，2035年中国园区清洁电力全覆盖。世界首创氯化氢循环氧化项目技改提升。
2024-06-06Wanhua Chemical officially joined the China ESG Alliance to enhance ESG practices and sustainable development.万华化学正式加入China ESG Alliance联盟，以完善ESG工作并强化可持续发展实践。
2024-11-19Wanhua Chemical commits to carbon peak by 2030 and carbon neutrality by 2048, with a waste heat recovery project saving 2.6 million tce and reducing 6.7 million t CO2 annually.万华化学承诺不晚于2030年实现碳达峰，力争2048年实现碳中和，废热回收项目年节约260万吨标准煤、减排670万吨二氧化碳。
2024-12-19MSCI ESG rating report indicated Wanhua Chemical performs well on toxic emissions, waste, and water stress but ranks at the bottom of the industry on corporate governance and carbon emissions.MSCI ESG评级报告显示，万华化学在有毒排放物与浪费、用水压力方面表现良好，但在公司治理和碳排放方面处于行业末位。
2026-05-13Wanhua Chemical was again selected for the 2026 Fortune China ESG Impact List, highlighting green transformation and biodegradable mulch film trials in 23 rice-growing regions.万华化学再次入选2026年《财富》中国ESG影响力榜单，展示绿色转型及在23个水稻种植区试验的全生物降解地膜。
2026-05-29Wanhua Chemical received an A-grade ESG rating from China Securities Index Co., with clean electricity accounting for over 30.83% in 2025 and cooling water recycling rate at 99%.万华化学获得中证指数ESG A级评级，2025年清洁电力占比超30.83%，冷却水循环利用率达99%。
2026-06-22Moody's affirmed Wanhua Chemical's 'Baa2' issuer rating with stable outlook, citing strong MDI leadership and solid financials.穆迪确认万华化学'Baa2'发行人评级，展望稳定，理由是其MDI龙头地位和稳健的财务基本面。
Other developments其他动态
16 · 2024-05-29 → 2026-04-30
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Assorted developments not part of a running storyline.未归入某条故事线的零散动态。
2024-05-29Wanhua Chemical's polyolefin business has developed over 20 differentiated PP grades and a series of PE products targeting NEV, home appliance, packaging, medical sectors; aims to replace imports in HDPE for pipe and bottle cap applications.万华化学聚烯烃业务已开发20余种差异化聚丙烯牌号及系列聚乙烯产品，瞄准新能源汽车、家电、包装、医疗等领域；致力于管道和瓶盖用HDPE等进口替代。
2024-06-06Joint venture Huashen New Materials (Ningbo) started production of 180,000 tpa hexamethylenediamine plant, supplying HDI and nylon raw materials for Wanhua Chemical and China Pingmei Shenma Group.合资公司华神新材料（宁波）年产18万吨己二胺项目开车投产，为万华化学HDI和中国平煤神马集团尼龙原料提供供应。
2024-08-20Wanhua Chemical chairman Liao Zengtai announced a target of revenue exceeding 250 billion yuan by 2025 and entering Fortune Global 500; plans to invest 27 billion yuan in R&D over the next five years.万华化学董事长廖增太宣布力争2025年收入超过2500亿元并挺进世界500强；未来五年投入270亿元用于研发。
2024-12-12Wanhua Chemical held the 2024 GBL-NMP high-end industry chain forum in Yantai, marking the first anniversary of its NMP product launch, and discussed industry trends and cooperation in the lithium battery market.万华化学在烟台举办2024年GBL-NMP产业链高端论坛，庆祝NMP产品投产一周年，探讨锂电池行业趋势与合作机遇。
2024-12-25Linde completed the conversion of a 65,000 Nm³/h air separation unit (ASU) at Wanhua Chemical's Yantai base from steam-driven to electric-driven, and started production. Linde is now the main industrial gas supplier for Wanhua's four bases in Yantai, Ningbo, Fujian, and BorsodChem in Hungary.林德完成万华化学烟台基地一套65,000标准立方米/小时空分装置由蒸汽驱动改为电力驱动的改造并投产；林德已成为万华烟台、宁波、福建及匈牙利博苏化学四大基地的主要工业气体供应商。
2025-01-14Wanhua Chemical's ultra-fast demolding low-thermal-conductivity technology for refrigerator insulation polyurethane foam (reducing curing time from 300s to 60s) was recognized as a 2024 petroleum and chemical industry highlight story.万华化学开发的超快速脱模低导技术（冰箱保温层聚氨酯硬泡固化时间从300秒降至60秒）入围2024年石油和化工行业精彩故事。
2025-01-17Wanhua Chemical Chairman Liao Zengtai (廖增太) announced that the company's 2024 revenue exceeded 200 billion yuan, a milestone after surpassing 100 billion yuan in 2021, with an estimated YoY increase of over 14%.万华化学董事长廖增太透露，公司2024年营业收入突破2000亿元大关，继2021年突破千亿后又一里程碑，同比增幅预计超14%。
2025-02-05Wanhua Chemical's 350,000-ton HDPE plant in Shandong was shut for maintenance; LLDPE 7042 prices dropped 50-100 yuan/ton in East and South China.万华化学山东35万吨HDPE装置停车检修；LLDPE 7042在华东和华南报价下跌50-100元/吨。
2025-04-30Wanhua Chemical's office in Pakistan was officially established and began operations in April 2025, providing localized sales and service capabilities.万华化学巴基斯坦办事处2025年4月正式落成并投入运营，具备本地化销售与服务能力。
2025-07-22A 220 kV power supply project for Wanhua Chemical (Sichuan) and Jinxiang Sairui in Meishan, Sichuan was approved, including a 44.22 km transmission line.四川眉山万华化学（四川）和金象赛瑞的220千伏供电工程获批，新建眉山西—万华220千伏线路44.22千米。
2025-07-29Wanhua Chemical adjusted PE production at Shandong: 450 kt/yr full-density unit to produce 7042 and planned early-August shutdown; 350 kt/yr HDPE to produce 4731B; 250 kt/yr LDPE continues 2426H.万华化学山东PE装置调整：45万吨全密度产7042并计划8月初停车；35万吨HDPE产4731B；25万吨LDPE继续产2426H。
2025-11-14Wanhua Chemical announced it will hold its 2025 Q3 results briefing on Nov 21, 2025, via online互动, after releasing its Q3 report on Oct 25.万华化学宣布将于2025年11月21日举行2025年第三季度业绩说明会，此前已于10月25日发布三季报。
2025-12-19Wanhua Chemical Chairman Liao Zengtai visited Yichang and met with municipal party secretary and mayor to discuss potential cooperation.万华化学董事长廖增太赴宜昌考察，与市委书记、市长会谈探讨合作。
2026-03-19Shandong Province Governor Li Bingjun met with Wanhua Chemical Chairman Liao Zengtai in Guiyang to discuss project-based cooperation in Guizhou.山东省省长李炳军在贵阳会见万华化学董事长廖增太，就项目化推进贵州合作进行交流。
2026-04-01Wanhua Chemical awarded a 16.755 million yuan information engineering project contract by subsidiary Jiangsu Dongda Jinzhi Information System Co., Ltd. for 2026-2028.万华化学获子公司江苏东大金智信息系统有限公司授予2026-2028年度信息工程项目合同，金额1675.5万元。
2026-04-30Wanhua Chemical's 2026 external equity investment planned at 2.22 billion yuan, focusing on battery materials, new materials, and international expansion.万华化学2026年对外股权投资计划22.2亿元，围绕电池材料、新材料发展和国际化战略。
Ethylene projects and feedstock revamp乙烯项目及原料改造
16 · 2024-06-14 → 2026-05-22
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Phase I feedstock switch to ethane, Phase II 1.2Mt startup, and LDPE plant commissioning一期原料切换为乙烷、二期120万吨乙烯投产及LDPE装置开车
2024-06-14Wanhua Chemical announced a 1 million tpa ethylene plant feedstock diversification revamp project, switching from propane to ethane to reduce costs and improve yields.万华化学公示100万吨/年乙烯装置原料多元化改造项目，将原料由丙烷改为乙烷，以降低成本并提高收率。
2024-11-05Wanhua Chemical's 1.2 million t/yr ethylene and downstream high-end polyolefin project participated by Xizhuang shares.锡装股份参与了万华化学120万吨/年乙烯及下游高端聚烯烃项目。
2024-12-02Wanhua Chemical's first 250 kt/yr LDPE plant at Yantai industrial park achieved mechanical completion, transitioning to commissioning and trial production; part of the 1.2 Mt/yr ethylene and downstream high-end polyolefin project (total investment CNY 17.6 billion).万华化学烟台工业园首套25万吨/年LDPE装置全面建成中交，转入联动试车和试生产阶段；该项目为120万吨/年乙烯及下游高端聚烯烃项目的一部分（总投资176亿元）。
2024-12-15Haitong International issued a report stating that Wanhua Chemical's Ethylene Phase II is expected to be completed and start production in Q1 2025, and the 10 kt/yr vitamin A plant is in the trial-run stage.海通国际发布研报称，万华化学乙烯二期预计2025年一季度建成投产，1万吨维生素A装置处于试车阶段。
2024-12-30Guotai Junan Securities noted that China's 2025 reduction of import tariffs on ethane will benefit Wanhua Chemical's petrochemical business; the company's Ethylene Phase II (using ethane and naphtha) is in final sprint and expected to start in Q1 2025, and Ethylene Phase I will also undergo feedstock diversification to ethane.国泰君安指出，2025年中国降低乙烷进口关税将使万华化学石化业务受益；公司乙烯二期（采用乙烷和石脑油）处于最后冲刺阶段，预计2025年一季度投产，乙烯一期也将进行原料多元化改造（改为乙烷）。
2025-01-14Wanhua Chemical's first 250,000-ton/year LDPE plant successfully started up and produced qualified products, using LyondellBasell's LUPOTECH TS tubular reactor technology, with 17 product grades.万华化学首套25万吨/年LDPE装置成功打通全流程并产出合格产品，采用LyondellBasell的LUPOTECH TS管式反应器技术，产品牌号17个。
2025-02-12Wanhua Chemical's 1.2 million-ton ethylene phase II project in Yantai will be commissioned in Q1 2025; 100,000-ton ethylene feedstock diversification project approved in June 2024.万华化学烟台120万吨/年乙烯二期项目将于2025年一季度投产；2024年6月获批100万吨/年乙烯原料多元化改造项目。
2025-04-03Wanhua Chemical's Yantai Industrial Park 1.2 million t/yr ethylene Phase II project successfully started up, producing qualified ethylene on April 3, 2025.万华化学烟台产业园120万吨/年乙烯二期项目于2025年4月3日一次开车成功，产出合格乙烯产品。
2025-05-22Wanhua Chemical announced that its Yantai Industrial Park's 1 million t/a ethylene phase-one unit will shut down from June 3, 2025, for about 5 months of technical renovation to switch feedstock from propane to ethane.万华化学公告烟台产业园100万吨/年乙烯一期装置将于2025年6月3日开始停产技改约5个月，原料由丙烷变为乙烷。
2025-06-04Wanhua Chemical's Yantai ethylene plant phase I (1 million tpa) shuts down for 5-month revamp, switching feedstock from propane to ethane to boost yield to 80%, cut energy use 20% and CO2 15%.万华化学烟台乙烯一期（100万吨/年）停产5个月进行改造，原料从丙烷切换为乙烷，收率提升至80%，能耗下降20%，碳排放减少15%。
2025-11-21Wanhua Chemical stated at its Q3 briefing that the Yantai ethylene Phase I unit's feedstock switch from propane to ethane is expected to be completed by end-2025, significantly reducing feedstock costs.万华化学在三季度业绩说明会上表示，烟台产业园乙烯一期装置预计于2025年末完成乙烷进料改造，原料成本将显著下降。
2025-11-21Wanhua Chemical stated at its Q3 briefing that newly commissioned projects in the first three quarters of 2025 include the Yantai ethylene Phase II project and the Penglai project, with all major units running at full capacity.万华化学在三季度业绩说明会上介绍，2025年前三季度新投产项目包括烟台工业园乙烯二期项目和蓬莱项目，目前各主要装置均满负荷运行。
2025-12-30Wanhua Chemical's 1.2 million t/y ethylene phase II unit successfully started up in April 2025, using ethane and naphtha mixed feedstock.万华化学120万吨/年乙烯二期装置于2025年4月成功开车，采用乙烷与石脑油混合进料。
2026-01-08Yantai industrial park ethylene phase I unit (1 million tons/year) completed feedstock diversification revamp, achieving flexible switching between ethane and propane, and has produced qualified products.烟台产业园乙烯一期装置（100万吨/年）完成原料多元化改造，实现乙烷、丙烷柔性切换，已产出合格产品。
2026-01-30Wanhua Chemical plans to inject 1.2 million tons ethylene integration assets (valued at 14.586 billion yuan) and a 4.5 billion yuan creditor's right into wholly-owned subsidiary Wanhua Olefins Company, totaling 19.086 billion yuan, to centralize C2 industry operations; registered capital of Wanhua Olefins will increase from 3 billion to 4 billion yuan.万华化学拟将120万吨乙烯一体化相关资产（价值145.86亿元）及对全资子公司万华烯烃公司45亿元债权共计190.86亿元增资至万华烯烃公司，实现碳二产业集中运营；万华烯烃注册资本由30亿元增至40亿元。
2026-05-22Wanhua Chemical completed the feedstock switch from propane to ethane for its ethylene cracker Phase I in January 2026.万华化学乙烯一期装置已于2026年1月完成由丙烷切换为乙烷的改造。
Awards & certifications奖项与认证
6 · 2024-07-23 → 2026-05-27
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Wanhua received industry awards and rankings, including Golden Bull Awards, China Quality Award, and Fortune recognition.万华化学获得行业奖项和排名，包括金牛奖、中国质量奖及《财富》认可。
2024-07-23Wanhua Chemical ranked 16th in CEN's Top 50 Chemical Companies list, up 2 places from last year.万华化学在CEN世界化工企业50强排行榜中位列第16位，较去年上升2位。
2024-10-24Wanhua Chemical won the 'Golden Bull Most Investment Value Award' and 'Golden Bull Information Disclosure Award' at the 26th Golden Bull Awards; board secretary Li Limin won 'Golden Bull Board Secretary Award'.万华化学在第二十六届上市公司金牛奖中荣获“金牛最具投资价值奖”“金信披奖”，董秘李立民获“金牛董秘奖”。
2025-11-20Wanhua Chemical won the 5th China Quality Award at the China Quality Conference (Nanjing), becoming the third company in Shandong to receive this top quality honor.万华化学在中国质量大会（南京）上获得第五届中国质量奖，成为山东省第三家获此殊荣的企业。
2025-12-18Wanhua Chemical won the 5th China Quality Award and received a 5 million yuan prize from Shandong provincial government.万华化学荣获第五届中国质量奖，获得山东省政府500万元奖金。
2026-05-19Wanhua Chemical won the 'Rongge Technology Innovation Award' for its new PUD resin Wantipro 0336, targeting high-performance waterborne automotive coatings with excellent heat-yellowing resistance.万华化学凭借新型PUD树脂Wantipro 0336荣获“荣格技术创新奖”，该树脂用于高性能水性汽车涂料，耐高温黄变性能优异。
2026-05-27Wanhua Chemical was listed on Fortune's 2026 'Most Admired Chinese Companies' list, recognizing its R&D innovation and social responsibility.万华化学入选2026年《财富》最受赞赏的中国公司榜单，表彰其研发创新与社会责任。
Yantai ethylene and PDH units烟台乙烯及PDH装置
5 · 2024-08-22 → 2026-05-08
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Ethylene Phase I revamp, Phase II startup, PDH maintenance, and LDPE plant commissioning乙烯一期改造、二期投产、PDH检修及LDPE装置开车
2024-08-22Wanhua Chemical announced scheduled maintenance shutdown of its Yantai Industrial Park 750,000 t/a PDH unit starting August 25, lasting about 45 days.万华化学公告烟台产业园75万吨/年PDH装置将于8月25日起停产检修，预计45天。
2024-10-08Wanhua Chemical restarted production at its Yantai industrial park 750 kt/yr PDH unit after scheduled maintenance that began on 2024-08-25.万华化学烟台产业园75万吨/年PDH装置按计划完成检修，于2024年8月25日停车后恢复生产。
2026-03-18Wanhua Chemical's Yantai Industrial Park 750,000-ton/year PDH unit will undergo scheduled maintenance from March 22 for about 30 days, with downstream PO/AE units adjusting loads.万华化学烟台产业园75万吨/年PDH装置将于3月22日起停产检修约30天，下游PO/AE装置调整负荷。
2026-04-29Wanhua Chemical's Yantai Industrial Park 750,000-tonne/year PDH unit resumed production after scheduled maintenance.万华化学烟台产业园75万吨/年PDH装置完成检修后复产。
2026-05-08Wanhua Chemical's 750,000 t/y PDH unit at Yantai Industrial Park resumed full production on April 29 after completing scheduled maintenance.万华化学烟台产业园75万吨/年PDH装置于4月29日完成检修后全面复产。
Citral and fragrance projects柠檬醛及香精香料项目
4 · 2024-08-29 → 2025-06-25
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World's largest single-train citral plant startup, fragrance ketone project, and P-alcohol expansion全球最大单套柠檬醛装置投产、香酮项目及P-醇扩产
2024-08-29Wanhua Chemical's 48,000 t/a citral plant successfully started up and produced qualified products in one go, the world's largest single-train citral unit.万华化学4.8万吨/年柠檬醛装置一次性开车成功并产出合格产品，为全球单套产能最大。
2024-10-21Wanhua Chemical published environmental impact assessment (EIA) public notices for two projects: a 480 kt/yr EDC revamp and a 3,800 t/yr fragrance ketone project.万华化学公示两大项目环评：48万吨/年EDC改扩建项目和3800吨/年香酮项目。
2025-05-26Yantai Wanhe Fragrance Co., Ltd. was established with registered capital of 200 million yuan, jointly held by Wanhua Chemical and Jinhe Industrial, focusing on food additives and daily chemical products.烟台万禾香料有限公司成立，注册资本2亿元，由万华化学和金禾实业共同持股，经营范围包括食品添加剂等。
2025-06-25Wanhua Chemical Nutrition Technology plans to expand P-alcohol capacity from 6 ktpa to 8 ktpa at Yantai Chemical Industrial Park; P-alcohol is a key fragrance intermediate used in daily chemical and food flavors.万华化学营养科技拟将烟台化工产业园P醇装置从6000吨/年扩能至8000吨/年；P醇是日化和食品香精领域的关键香料中间体。
BorsodChem (Hungary) operations匈牙利博苏化学运营
3 · 2024-09-27 → 2026-04-08
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Maintenance shutdowns, force majeure, revenue performance, and HDI capacity acquisition via BorsodChem检修停车、不可抗力、营收表现及通过博苏化学收购HDI产能
2024-09-27Due to force majeure at BorsodChem (Czech) affecting aniline supply, Wanhua Chemical's Hungarian MDI plant (400 kt/yr) is running at low load, leading to a temporary suspension of MDI order acceptance in September.因宝思德（捷克）公司MDI原料苯胺装置受不可抗力停车，匈牙利MDI装置（40万吨/年）低负荷运行，万华化学本月暂停MDI接单。
2024-10-21Wanhua Chemical chairman Liao Zengtai shared at a conference that the company's Hungarian subsidiary BorsodChem achieved annual revenue of EUR 3.43 billion, up 447% from the acquisition value.万华化学董事长廖增太在会上分享，匈牙利子公司宝思德化学年营收达34.3亿欧元，较收购时增长447%。
2026-04-08Wanhua Chemical's subsidiary BorsodChem in Hungary raised MDI product prices by 500 EUR/tonne effective April 1.万华化学子公司匈牙利宝思德公司自4月1日起对所有MDI产品价格上调500欧元/吨。
TPU and biodegradable materialsTPU及可降解材料
4 · 2024-11-14 → 2025-12-19
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TPU Phase 3-2 expansion, PBAT biodegradable packaging, PBAT/PLA bicomponent fiber, and biodegradable polyester revampTPU三期二阶段扩产、PBAT可降解包装、PBAT/PLA双组分纤维及可降解聚酯改造
2024-11-14Wanhua Chemical's Yantai TPU Phase 3-2 expansion project achieves mechanical completion, adding the world's largest single-line TPU production line; total TPU capacity reaches 210,000 t/yr.万华化学烟台TPU三期-2扩建项目顺利中交，新增全球单线产能最大的TPU生产线，TPU总产能达21万吨/年。
2024-12-03Wanhua Chemical launched Waneco® PBAT fully biodegradable packaging material series for express logistics, including shrink film grade TF2001 NL for tobacco packaging and TF2001 M04A with improved anti-stick properties.万华化学推出Waneco® PBAT全生物降解包装系列材料，包括适用于烟草包装的热收缩膜专用料TF2001 NL和优化抗粘辊性能的TF2001 M04A。
2025-05-29Wanhua Chemical developed a fully biodegradable PBAT/PLA bicomponent sheath-core fiber material with adjustable fineness of 1-5 dtex, targeting disposable hygiene and packaging applications.万华化学开发出全生物降解PBAT/PLA双组分皮芯纤维材料，纤维细度可调至1-5dtex，用于一次性卫材和包装领域。
2025-12-19Wanhua Chemical announced a 60,000 t/y biodegradable polyester revamp project, converting the existing PBAT line to also produce PETG, with total investment of 56.34 million yuan.万华化学年产6万吨生物降解聚酯改建项目公示，总投资5634万元，原PBAT生产线可兼产PETG。
IP & patents知识产权与专利
7 · 2024-11-20 → 2026-05-06
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Wanhua filed patents for new technologies including sealants, adhesives, and catalysts, and achieved domestic catalyst breakthroughs.万华化学申请密封剂、粘合剂及催化剂等新技术专利，并实现国产催化剂突破。
2024-11-20Wanhua Chemical files a patent for a room-temperature curing dealcoholized silicone sealant (CN 118931480 A, filed September 2024).万华化学申请一项室温固化的脱醇型有机硅密封胶专利（公开号CN 118931480 A，申请日期2024年9月）。
2024-12-31Wanhua Chemical's project 'Key technology research and application of seawater desalination ultrafiltration membrane modules and reverse osmosis membrane elements' passed expert review by the China Membrane Industry Association, achieving targets including RO element water production ≥28.4 m³/d, salt rejection ≥99.8%, boron rejection ≥92%, and UF membrane flux ≥120 L/(m²·h).万华化学承担的“海水淡化用超滤膜组件、反渗透膜元件自主化关键技术研究及应用”项目通过中国膜工业协会评审验收，反渗透膜元件产水量≥28.4 m³/d、脱盐率≥99.8%、脱硼率≥92%，超滤膜通量≥120 L/(m²·h)。
2025-06-16Zhongchu Catalyst passes Wanhua Chemical's validation test for iron-molybdenum methanol-to-formaldehyde catalyst and signs repeat purchase contract, breaking long-term foreign monopoly.中触媒铁钼法甲醇制甲醛催化剂通过万华化学验证测试并签署复购合同，打破国外长期垄断。
2025-12-09Wanhua Chemical successfully replaced the entire line of bisphenol A (BPA) catalyst with its domestically developed LXC-108A series, achieving localization of BPA catalyst.万华化学双酚A生产线完成整线催化剂国产化替代，上线自研LXC-108A系列双酚A催化剂。
2025-12-09Wanhua Chemical developed a formaldehyde-free flexible circuit board adhesive, patent involving acrylate polymer and phenolic resin bonding.万华化学研发无醛柔性线路板胶黏剂，涉及丙烯酸酯聚合物与酚醛树脂键合专利。
2026-05-06Wanhua Chemical's Dr. Yan Kangkang presented on innovative application of membrane materials in chlor-alkali industry at the 29th Chlor-Alkali Industry Development Conference, showcasing WNF5010-8040 nanofiltration membrane for sulfate removal.万华化学阎康康博士在第29届氯碱产业发展大会上作膜材料在氯碱工业中的创新应用报告，展示WNF5010-8040纳滤膜用于脱除硫酸根。
2026-05-06Wanhua Chemical led the drafting of marine industry standard 'Accelerated Test Method for Seawater Desalination Reverse Osmosis Membrane Element Tolerance' and presented high-performance seawater desalination membrane achievements at a seminar in Changzhou.万华化学牵头起草海洋行业标准《海水淡化反渗透膜元件耐受性加速测试方法》，并在常州研讨会上展示高性能海水淡化膜成果。
Fujian base buildout福建基地建设
3 · 2025-06-15 → 2026-01-03
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MDI/TDI capacity expansions, new PC and PVC projects, nitric acid unit, and terminal capital increaseMDI/TDI产能扩张、新PC和PVC项目、硝酸装置及码头增资
2025-06-15Wanhua Chemical (Fujian) plans a 360 ktpa nitric acid unit (dual-pressure process) to support MDI and TDI production at its Fujian Industrial Park.万华化学（福建）拟建36万吨/年硝酸装置（双加压法），为福建工业园MDI和TDI项目配套。
2025-12-19Wanhua Chemical (Fujian) Terminal Co., Ltd. increased its registered capital from 400 million yuan to 1 billion yuan.万华化学（福建）码头有限公司注册资本由4亿元增至10亿元。
2026-01-03Wanhua Chemical (Fujian) Terminal Co., Ltd. increased its registered capital from 400 million yuan to 1 billion yuan, highlighting the importance of the Fujian base logistics system.万华化学（福建）码头有限公司注册资本由4亿元增至10亿元，凸显对福建基地物流体系的重视。
Nylon 12 and specialty polyamides尼龙12及特种聚酰胺
2 · 2025-10-20 → 2026-05-26
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Nylon 12 plant revamp and expansion, partnership with Yantai Special Equipment Inspection Institute for gas pipeline applications尼龙12装置改造扩产，与烟台特检院合作燃气管道应用
2025-10-20Wanhua Chemical and Yantai Special Equipment Inspection Institute (Yantai Tejian Yuan) signed a strategic cooperation to promote the safe application and standardization of nylon 12 in gas pipelines, including hydrogen energy transport safety assessment.万华化学与烟台市特检院签署战略合作，推动尼龙12在燃气管道领域的安全应用与标准化建设，包括氢能输送安全评估。
2026-05-26Wanhua Chemical disclosed EIA for Nylon 12 plant Phase I revamp and expansion, adding a new laurolactam (LL) pelletizing unit with max capacity of 18,000 t/y, allowing flexible production switch with nylon 12 unit.万华化学公示尼龙12装置一期改扩建技改项目环评，新建最大产能1.8万吨/年十二内酰胺（LL）造粒单元，可与尼龙12单元切换生产。
Industry standards & policy行业标准与政策
1 · 2026-04-20
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Wanhua led drafting of marine industry standards and participated in policy-related forums.万华化学牵头起草海洋行业标准并参与政策相关论坛。
2026-04-20Wanhua Chemical led the drafting of marine industry standard 'Seawater Desalination Reverse Osmosis Membrane Element Tolerance Accelerated Test Method' as chief editor.万华化学作为主编单位牵头起草海洋行业标准《海水淡化反渗透膜元件耐受性加速测试方法》。
