Co-founder of the company, Wanhua Group Corporation (Chinese: 万华集团公司 or 烟台万华合成革集团有限公司), initially owned 93.25% shares.

Initially, the listed company only owned the methylene diphenyl diisocyanate (MDI) production line of the former Yantai synthetic leather factory.

[8][9] In July 2019, the listed company acquired Swedish company Chematur Technologies for a reported US$134 million from Jilin-based Kangnaier Investment Group (Chinese: 吉林市康乃尔投资集团; also transliterated as Connell Chemical Industry LLC[10][11]) and another investor.

[15] As of 2019, it is the world's largest producer of the polyurethane raw material methylene diphenyl diisocyanate (MDI).

[17] On top of the production facility in Yantai,[18]: 8  the company also has factories in Ningbo,[18]: 8 [19] Zhuhai[18]: 8  and Meishan.

In February 2019, Wanhua Chemical Group made a reverse merger with its direct parent company at that time, 烟台万华化工有限公司.

[3]: 51 Prime Partner International Limited, a consortium founded in 2007 by Pemex, Deutsche Bank and one other investor,[32] was the second largest shareholder of the listed company, as of 2019, for 10.70% shares.

[8] However, the direct parent company of that consortium, had changed to Dao Sheng (Hong Kong) Limited in 2017.

[31]: 132–133  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.