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1 Billion Yuan! Anhui Weaving Hi-Tech Establishes New Company

Functional Membrane Coating Industry Chain 2025-09-12 16:23:36

Recently, Jiangsu Wanwei New Materials Co., Ltd. was established with a registered capital of 1 billion yuan. Its business scope includes new materials technology research and development, and new materials technology promotion services, among others. The company is jointly held by Wanwei Gaoxin and others.

Source of the image: Aiqicha

It is understood that Wanhua Weigao has currently established four major industrial sectors: chemicals, chemical fibers, building materials, and new materials. Its main products include polyvinyl alcohol (PVA), high strength and high modulus PVA fibers, PVB resin, and PVB film. These products have broad application prospects in industries such as film, soil conditioners, food packaging, building materials, pharmaceuticals, leather, paper, electronics, and environmental protection.

In the first half of 2025, the company achieved an operating income of 4.061 billion yuan, representing a year-on-year growth of 4.9%. Export earnings reached 161 million US dollars, an increase of 39.86% compared to the same period last year. The net profit attributable to the parent company was 256 million yuan, a year-on-year increase of 97.47%. After decades of development, the company currently offers more than 40 varieties of PVA in the market, with a well-structured product chain and continuously improving the performance of high-end products. During the reporting period, sales of the company's PVA optical film and PVB resin products increased by 120.58% and 260.06% year-on-year, respectively, with the revenue from strategic emerging industries rising to approximately 40%.

It is worth mentioning that on August 31, Wanwei High-tech announced that its controlling shareholder, Wanwei Group, plans to coordinate reorganization matters with other provincial state-owned enterprise groups.

The announcement indicates that this restructuring may result in a change of the indirect controlling shareholder of Wanhua High-Tech, and the shares held by Wanhua Group in the company may change. However, it will not lead to a change in the actual controller of the company. According to relevant arrangements, this restructuring is still subject to relevant procedures and requires approval from the competent authorities.

The current equity structure shows that Wanwei Group is the controlling shareholder of the company, holding 33.55% of the shares, with 706 million shares held. The Anhui Provincial State-owned Assets Supervision and Administration Commission is the actual controller of the company.

According to the information, Wanwei Group is a large enterprise under the supervision of the Anhui State-owned Assets Supervision and Administration Commission. Established in 1969, it has six subsidiaries including Wanwei High-tech. Other subsidiaries include Anhui Wanwei Logistics Co., Ltd., Anhui Wanwei Group Materials Co., Ltd., Chaohu Wanwei Jinquan Industrial Co., Ltd., Mingchi Glass Co., Ltd., and Anhui Anyuan Innovation Venture Capital Fund Co., Ltd.

Wanhua Weiye Group, as an important chemical, fiber, building materials, and new materials joint manufacturing enterprise in Anhui Province, has total assets exceeding 10 billion yuan, an annual sales revenue of 10.206 billion yuan, and export earnings of over 300 million US dollars. Its main business involves the research and development, production, and sales of polyvinyl alcohol (PVA) and its derivative products. The production bases are located in Chaohu, Anhui (headquarters), Yizhou, Guangxi, Chayouhouqi, Inner Mongolia, and Jiashan, Zhejiang.

On July 8th this year, Anhui Weaving Group successfully delivered the domestically first large-size polyvinyl alcohol optical film key core equipment. This marks a crucial step forward for its project of producing 20 million square meters annually of wide-width polyvinyl alcohol optical film for TFT polarizers towards full-scale production.

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1 Billion Yuan! Anhui Weaving Hi-Tech Establishes New Company

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