What New Solar Technology Group does

New Solar Technology Group (新阳科技集团) is a privately-held, Macau-incorporated foreign-invested industrial conglomerate headquartered in Changzhou, Jiangsu, China, with operational roots tracing to the 1993 resin division of Changzhou Chemical Materials Factory. The group operates two principal business segments: (1) commodity and specialty chemicals — including unsaturated polyester resin (UPR), styrene, phthalic anhydride, maleic anhydride, fumaric acid, benzene, toluene, L-alanine, and L-aspartic acid — with reported UPR capacity of 56万吨/年 across Changzhou, Tianjin, and Zhangzhou bases that ranks the group among the world's largest producers; and (2) crystalline silicon solar cells and modules via subsidiary Jiangsu Greenbale Photovoltaic, operating at 400MW cell / 300MW module capacity with TOPCon technology migration completed in 2023. The group comprises 19 subsidiaries (12 manufacturing, 7 trading/financial) and is led by Chairman and President Zhang Wenjun, who has been with the business since 1993. The corporate parent is Macau Xinyang Ltd.

The group's core technology rests on vertically integrated chemical process engineering: crude benzene hydrogenation feeds styrene and maleic anhydride production; maleic anhydride downstream produces fumaric acid and L-aspartic acid; proprietary ammonia oxidation catalyst technology enables cost-efficient cyanobenzene production at Hubei Niusulai. A self-contained cyclical economy recovers approximately 1 million tons of high-quality steam annually across facilities, saving 200,000 tons of standard coal per year (valued at 150 million RMB), while hydrogen from styrene production is purified and reused in crude benzene hydrogenation, generating an additional 60 million RMB in by-product revenue. Operations are governed by DCS control with ESD interlock protections, integrated MES/HSE/ERP systems, and ISO 9001/14001/OHSAS 18001 certified management systems at Greenbale. Three of the group's subsidiaries hold High-tech Enterprise status under certificate GR202132000992.

The business model is B2B enterprise sales conducted through dedicated sales teams at each subsidiary, augmented by direct-to-buyer inquiry forms on the corporate website, an in-house chemical e-commerce trading center functioning as the East China pricing reference for multiple commodity chemicals, and presence at major industry exhibitions (Xiamen International Stone Exhibition, China International Composites Industry Exhibition). Customers span automotive parts manufacturers, FRP shipbuilders, artificial stone/quartz/granite producers (including Oppein Home), wind power component makers, rail transit manufacturers, construction materials firms, chemical processors, and PV project developers in domestic China, USA, Southeast Asia, and Europe. Pricing is quote-based and negotiated under multi-year contracts; no public price list exists. Revenue streams comprise chemical product manufacturing and sales, solar PV hardware sales under the GPPV brand, and electronic trading platform services.

Name

New Solar Technology Group

Legal name

新阳科技集团有限公司

Website

https://newsolar.biz

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

1–10 employees

Short description

New Solar Technology Group is a privately-held, Macau-incorporated industrial conglomerate producing unsaturated polyester resin (world-scale), styrene, maleic anhydride, specialty chemicals, and crystalline silicon solar PV modules through 19 subsidiaries across Changzhou, Tianjin, Zhangzhou, and Hubei, supplying B2B industrial customers in automotive, construction, composites, and energy sectors globally.

Ownership category

akta.pro rank

Product category

Industrial Chemicals

NAICS

Other Electronic Component Manufacturing (334419), Solar Electric Power Generation (221114)

SIC

Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820), Semiconductors & Related Devices (3674)

akta.pro primary industry

Solar PV Module & Cell Manufacturing (Crystalline, Thin-Film) (EUAMAHAA)

akta.pro secondary industry

Solar Plant Components Supply & Manufacturing (Modules, Cells, Wafers, Mirrors, Heliostats) (EUACAGAK)

Keywords

• Industrial chemicals manufacturing
• Unsaturated polyester resin
• Solar photovoltaic products
• Chemical raw materials
• Composite materials

Headquarters

HQ city

Changzhou

HQ country

China

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Chemical Product Manufacturing and Sales: Manufacturing and selling of chemical products including unsaturated polyester resin (18万吨/year capacity, largest in world), styrene (60万吨/year, top 3 in China), phthalic anhydride (10万吨/year, domestic leading), crude benzene hydrogenation (20万吨/year), maleic anhydride, fumaric acid, L-aspartic acid, and L-alanine. Products sold to industrial customers in automotive parts, shipbuilding, construction materials, artificial stone, bathroom fixtures, and other composite material industries. Export markets include USA and Southeast Asia.
2. Solar Photovoltaic Products: Manufacturing and sales of crystalline silicon solar cells and modules through subsidiary 江苏格林保尔光伏有限公司. Production capacity of 400MW solar cells and 300MW solar modules. Products include GP polycrystalline silicon cells, GP polycrystalline silicon modules, GP monocrystalline silicon cells, and GP monocrystalline silicon modules. International certifications include CE, TUV, IEC, VDE. Strong brand presence in European markets.
3. Electronic Trading Center Services: Electronic trading platform for chemical products providing transaction and pricing services. Operates as chemical product trading center, pricing center for East China region.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

New Solar Technology Group is a Chinese chemical and new energy manufacturer that produces unsaturated polyester resin (UPR), styrene, phthalic anhydride, maleic anhydride, fumaric acid, benzene, toluene, L-alanine, and L-aspartic acid for industrial customers. Through subsidiary Jiangsu Greenbale Photovoltaic, it also manufactures crystalline silicon solar cells and modules. The group operates vertically integrated production bases in Changzhou, Zhangzhou, Tianjin, Hubei, and Macau, with world-leading UPR capacity and top-tier Chinese styrene capacity.

Product overview

New Solar Technology Group is a diversified chemical and new energy enterprise with two main business segments. The chemical segment includes unsaturated polyester resins (UPR), styrene, phthalic anhydride, maleic anhydride, fumaric acid, benzene, toluene, L-alanine, and L-aspartic acid, with UPR capacity ranking among the world's largest. The new energy segment under Jiangsu Greenbrier Photovoltaic Co., Ltd. produces monocrystalline and polycrystalline silicon solar cells and modules with a total capacity of 400MW solar cells and 300MW modules. The group operates production bases in Changzhou, Zhangzhou, and Tianjin, and maintains a chemical electronic trading center for commodity transactions.

Differentiator

Problem solved

Functional benefit

Brands

• GPPV: Solar photovoltaic brand used by Jiangsu Greenbale Photovoltaic Co., Ltd. for solar cells and modules. GPPV brand received Changzhou Famous Trademark designation in 2014.

Products and services

• Unsaturated Polyester Resin (UPR) Thermosetting resin produced by reacting polyols with polyacids and dissolved in polymerizable monomers. Applied in automotive parts, fiberglass ships, rail transit, wind power, pipelines, construction materials, artificial stone, and bathroom fixtures. Group capacity of 560,000 tonnes/year ranks among the world's largest.
• Styrene (SM) Organic compound formed by substituting a hydrogen atom of ethylene with benzene. Important monomer for synthetic resins, ion exchange resins, and synthetic rubber. Group capacity of 600,000 tonnes/year ranks top 3 in China.
• Phthalic Anhydride (PA) White scaly or crystalline powder with molecular formula C8H4O3. Used in plasticizers, alkyd resins, dyes, unsaturated resins, pharmaceuticals, and pesticides. Annual capacity of 100,000 tonnes in domestic leading position.
• Maleic Anhydride (MA) Maleic anhydride used in production of polyester resins, alkyd resins, pesticides, fumaric acid, and paper treatment agents.
• Fumaric Acid (FA) Trans-butenedioic acid used as food-grade acidulant, in polyester resins, coating resins, plasticizers, pharmaceuticals, food additives, and feed. Acidity is 1.5 times that of citric acid.
• Pure Benzene Basic chemical raw material used as solvent and for synthesis of benzene derivatives, fragrances, dyes, plastics, medicines, explosives, and rubber.
• Toluene Benzene homolog with special aromatic odor, boiling point 110.63°C. Used in organic synthesis, as solvent, and in production of benzene derivatives.
• L-Alanine Non-essential amino acid with special sweet taste (about 70% of sucrose sweetness). Used as nutritional supplement and flavor enhancer in food and beverage production.
• L-Aspartic Acid Amino acid with applications in medicine (cardiac, liver, hypertension treatments), food industry (nutritional supplement, sweetener intermediate), and chemical industry (synthetic resin raw material, cosmetic additive).
• GP Monocrystalline Silicon Solar Cells Monocrystalline silicon solar cells produced by Jiangsu Greenbale Photovoltaic Co., Ltd., featuring high conversion efficiency and reliability. Recent 210mm cells achieve 22.49% photoelectric conversion efficiency.
• GP Monocrystalline Silicon Cell Modules Monocrystalline silicon solar cell modules available in various models including GPM 280-B-72, GPM 230-B-60, GPM 200-B-54, GPM 180-B-48, GPM 230-A-96, GPM 180-B-72. Certified with TUV Rheinland and VDE.
• GP Polycrystalline Silicon Cells Polycrystalline silicon solar cells with model GP 156P, manufactured by Jiangsu Greenbale Photovoltaic Co., Ltd.
• GP Polycrystalline Silicon Cell Modules Polycrystalline silicon solar cell modules with models GPM260P-B-72, GPM220P-B-60, GPM200P-B-54, GPM180P-B-48. Features high photoelectric conversion efficiency and low degradation.
• Chemical Electronic Trading Center Services Electronic trading platform facilitating commodity trading of chemical products including benzene, maleic anhydride, styrene, phthalic anhydride, unsaturated polyester resin, fumaric acid, aspartic acid, and L-alanine. Functions as a pricing center for chemical products in East China.

Quantifiable outcome

• Saves 200,000 tons of standard coal per year worth 150 million RMB through internal steam recycling
• +4 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Nouryon (诺力昂)coreStrategic or Co-development Partner · 1 September 2025天津新阳联合诺力昂成功举办责任关怀公众开放日活动，双方在责任关怀(Responsible Care)理念下开展 sustainability collaboration, with 天津新阳 opening its facilities to demonstrate environmental responsibility and safety practices to stakeholders and the public.
• SABICminorStrategic or Co-development Partner · 1 May 2024SABIC乙烯醇中国区商务总监纳瓦夫到天津新阳参观考察, indicating a supplier-customer relationship for vinyl alcohol (乙烯醇) raw materials used in resin production.

Scale indicators18 records

Recent moves12 records

Expansion highlights5 records

Broad incumbents

• Polynt-Reichhold: Polynt-Reichhold (private equity-owned by Black Diamond Capital/Investindustrial) is the world's largest UPR producer with global manufacturing footprint. Comparable in UPR product portfolio but at significantly larger scale and broader geographic reach than New Solar.
• Tongwei Co., Ltd. Tongwei (600438.SH) is China's largest solar cell producer with vertically integrated polysilicon-to-module capacity exceeding 150GW. Comparable in solar PV cell/module manufacturing (Greenbale subsidiary) but at vastly greater scale and with full vertical integration that New Solar lacks.
• JA Solar Technology: JA Solar (002459.SZ) is a top-tier global solar cell and module manufacturer with deep TOPCon technology pipeline and integrated silicon wafer-to-module operations. Comparable to Greenbale in PV cell/module production but at significantly larger scale and stronger international market presence.
• Ashland: Ashland (NYSE: ASH) is a US specialty chemicals company with historic UPR and composites franchise serving personal care, pharmaceutical, and industrial markets. Comparable in specialty chemicals portfolio and customer overlap in composites, though significantly broader product mix.
• JinkoSolar: JinkoSolar (JKS) is one of the world's largest solar module manufacturers with vertically integrated cell production and N-type TOPCon technology leadership. Comparable to Greenbale in solar cell/module manufacturing but at 100x+ the scale with stronger global brand.
• AOC Aliancys: AOC (owned by Lone Star Funds) is a global specialty resins and UPR producer serving composites, coatings, and construction end-markets. Directly overlaps with New Solar's UPR business in automotive, marine, and construction resin applications but at larger international scale.
• LONGi Green Energy: LONGi (601012.SH) is the global leader in monocrystalline silicon wafers and a top-tier solar module producer, pioneering BC (back-contact) cell technology. Directly comparable to Greenbale's monocrystalline cell production but with vastly larger scale and superior technology leadership.
• Scott Bader Company: Scott Bader is a UK-based, employee-owned specialty resins and composites producer with strong UPR and structural adhesives portfolio. Comparable to New Solar's UPR business in marine, transportation, and construction applications, though focused on higher-specification specialty resins rather than commodity UPR.

Direct peers

• Bluesail New Energy Technology: Bluesail New Energy Technology (formerly Bluestar) is a major Chinese chemical conglomerate producing UPR, synthetic resins, and specialty chemicals for composites and coatings. Most direct Chinese competitor in commodity and specialty resins with similar end-market exposure.
• Swancor Innovative Materials: Swancor is a Taiwan/Shanghai-listed (688585.SH) specialty resin and UPR producer with overlapping customer base in wind power, marine, and construction composites. Direct competitor in the Chinese UPR market with comparable capacity and customer focus on composite materials.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries17 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New Solar Technology Group