Wanhua Chemical 万华化学
China · Yantai
alternative to Covestro / BASF / Dow / Huntsman
MDI and TDI isocyanates, polyether polyols, TPU and other polyurethanes, plus polycarbonate, ethylene and propylene derivatives and specialty chemicals, made in Yantai, Ningbo, Fujian and at BorsodChem, Hungary. Had 3.8 Mt/yr of MDI capacity at end-2025; 47% of 2025 revenue came from outside China.
Why it fits
- Chemicals & Plastics
- Processing
- Global-ready
Regional alternatives
Product facts
- Segment
- Chemicals & Plastics
- Supply-chain stage
- Processing
- Main end uses
- Industrial, Consumer goods, Electronics
2025 annual report: 3.8 Mt/yr MDI, 1.47 Mt/yr TDI and 2.32 Mt/yr polyether polyol capacity at end-2025; revenue CNY 203.2B, CNY 96.3B of it outside China (Apr 2026).
Regulatory & supply-chain notes
US trade-remedy duties on imports
- MDICommerce denied Wanhua a separate rate, so US importers of Wanhua MDI made in China pay the China-wide anti-dumping rate of 161.61%; Wanhua-made MDI exported through Shandong Mingko pays 87.25%, and MDI from its BorsodChem plant in Hungary is outside this order. A-570-200 (AD order, 2026)
EU trade-remedy duties on imports
- 1,4-butanediol (BDO)EU importers of 1,4-butanediol made in China by Wanhua Chemical (Sichuan) pay a 113.7% anti-dumping duty; Wanhua's MDI and other products are not covered. Commission Implementing Regulation (EU) 2026/1373
Company & market
- Parent company
- Yantai Guofeng Investment Holding Group
- Registered
- Yantai
- Listing
- A-share
- Ticker
- 600309.SS
- Market cap / val. (USD)
- ~$31 B
- Foreign-investable
- Yes