Wanhua Chemical: Shareholder Yantai Zhongcheng Investment releases pledge of 25 million shares

Rayda Finance | Yang Yang Edited | Li Yihui

On March 9th, Wanhua Chemical (600309) announced that its shareholder Yantai Zhongcheng Investment Co., Ltd., which holds more than 5% of the shares, has partially解除质押 (released part of its shares from pledge). Yantai Zhongcheng Investment Co., Ltd. owns 330,379,594 shares of Wanhua Chemical, accounting for 10.55% of the company’s total share capital. The number of shares解除质押 (released from pledge) this time is 25,000,000, representing 7.57% of its holdings and 0.80% of the company’s total share capital. The解除质押 (pledge release) date is March 6, 2026. These shares解除质押 (released from pledge) will not be used for subsequent pledges.

After the解除质押 (pledge release), Yantai Zhongcheng Investment Co., Ltd. has 46,000,000 remaining pledged shares, accounting for 13.92% of its holdings and 1.47% of the company’s total share capital.

According to Tianyancha, Wanhua Chemical was established on December 16, 1998, with a registered capital of 3,130,471,626 RMB. The legal representative is Liao Zengtai, and its registered address is No. 59 Chongqing Street, Yantai Economic and Technological Development Zone, Shandong Province. Its main businesses include polyurethane, petrochemical, fine chemicals, and new materials.

Currently, the company’s chairman is Liao Zengtai, the secretary is Li Limin, with 33,303 employees. The actual controller is the State-owned Assets Supervision and Administration Commission of Yantai Municipal People’s Government.

The company has 147 associated companies, including Wanhua Chemical Europe Innovation S.L., Wanhua Hungary Energy Materials Limited Liability Company, Wanhua Chemical (Canada) Ltd., Wanhua Chemical Shipping (Singapore) Ltd., and Wanhua Chemical (Ningbo) Co., Ltd.

In terms of performance, the company’s revenue for 2022, 2023, and 2024 was 165.565 billion RMB, 175.361 billion RMB, and 182.069 billion RMB, respectively, with year-on-year growth of 13.76%, 5.92%, and 3.83%. Net profit attributable to shareholders was 16.234 billion RMB, 16.816 billion RMB, and 13.033 billion RMB, with year-on-year changes of -34.14%, +3.59%, and -22.49%. During the same period, the company’s asset-liability ratio was 59.50%, 62.67%, and 64.72%.

Regarding risks, Tianyancha data shows the company has 430 internal Tianyan risks, 324 surrounding Tianyan risks, 110 historical Tianyan risks, and 1,085 early warning Tianyan risks.