Shareholders
The parent company and largest shareholder of the listed company was Yantai-city government owned Wanhua Group Corporation in 1998. From 2003, Wanhua Group Corporation's non wholly owned subsidiary Wanhua Industrial Group became the direct parent company, which was the largest shareholder until January 2018.
In January 2018, the parent company was split into two companies: Wanhua Industrial Group and. The latter became the new largest shareholder of the listed company instead. At that time, that company owned 47.92% shares of Wanhua Chemical Group.[26]
However, in February 2019, the listed company merged with its largest shareholder, with the listed company is the surviving entity.[25]
Another company, Yantai Guofeng, became the new largest shareholder of the listed company for 21.56% stake since February 2019[25] and increased to 21.59% as of 31 December 2019.[3] Yantai Guofeng is owned by the State-owned Assets Supervision and Administration Commission (SASAC) of the Yantai Municipal People's Government.[27] Yantai's SASAC also indirectly owned the former parent company of the listed company, Wanhua Industrial Group, at the same time.[28] Yantai Guofeng owned 39.497% stake of Wanhua Industrial Group since 2017.[29] Yantai Guofeng also formed a shareholders' agreement with the third and fourth largest shareholder of the listed company, which they were owned by the managers and employees of the listed company directly and indirectly.[30] As of 31 December 2019, the third and fourth largest shareholder owned 10.52% and 9.61% shares respectively.[3]
Prime Partner International Limited, a consortium founded in 2007 by Pemex, Deutsche Bank and one other investor,[31] was the second largest shareholder of the listed company, as of 2019, for 10.70% shares.[25] However, the direct parent company of that consortium, had changed to Dao Sheng (Hong Kong) Limited in 2017.[32] Prime Partner International was the shareholder of Wanhua Industrial Group in 2007, thus the consortium was an indirect owner of the listed company from that date.[31]
