Hualong

What Hualong does

Hualong (华砻) is a privately held, diversified Chinese chemical group headquartered in Hezhou, Guangxi, that designs, manufactures, and sells unsaturated polyester resins (UPR) as its core product, supported by adjacent operations in PET recycling, petroleum storage and trading, logistics, real estate, and financial investment. The group traces back to 1996 in Fujian through petroleum wholesaling, with the modern resin business founded in 2014 after a RMB 600 million investment; it now operates a 360,000 tons/year UPR design capacity that ranks among the top in South China and Southwest China, and a 50,000 tons/year PET bottle flake recycling operation through subsidiary Guangxi Hualong Renewable Resources that supplies up to 40% recycled content into the company's recycled resin line.

The product portfolio spans standard industrial resins (e.g., 191, H191 series), wind power vacuum infusion resins (8300, 196X), China Classification Society (CCS)-certified marine resins (HL-8200, HL-196), automotive carbon fiber resins (8400), rail transit resins (1220, 117), and PET-recycled resins (HL-516, HL-5153). Hualong's technology stack combines proprietary PET recycling, environmental production (gas boiler conversion, waste gas and wastewater treatment), and green-factory certifications, with research supported by a new RMB 15 million R&D building and a joint innovation center with Hezhou University.

The business model is B2B direct sales through regional subsidiaries in Hezhou (production), Quanzhou/Fujian (petrochemical storage and trading, with 150,000 cubic meters of tank capacity and two deepwater wharves), and Guangzhou (sales and overseas expansion since November 2020). Pricing is quote-based and not publicly disclosed; the company maintains a volume-based customer loyalty program and strategic relationships with major energy counterparties including Sinopec, CNPC, CNOOC, Shell, BP, and Sinochem. In August 2021, the company restructured from a limited liability entity to Hualong Resin Stock Co., Ltd. (华砻树脂股份有限公司) in preparation for an IPO.

Name

Hualong

Legal name

华砻树脂股份有限公司

Website

https://hlupr.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

251–500 employees

Short description

Hualong (华砻) is a privately held Chinese chemical group that manufactures unsaturated polyester resins at 360,000 tons/year capacity, serving construction, industrial, wind power, marine, automotive, and rail sectors, with integrated PET recycling, petroleum trading, and logistics operations, currently preparing for an IPO.

Ownership category

akta.pro rank

Product category

Specialty Chemicals - Unsaturated Polyester Resins

NAICS

Resin and Synthetic Rubber Manufacturing (32521), Plastics Material and Resin Manufacturing (325211), Custom Compounding of Purchased Resins (325991)

SIC

Plastic Materials, Synth Resins & Nonvulcan Elastomers (2821)

akta.pro primary industry

Thermoset & Reactive Resin Manufacturing (Epoxy, Polyester, Phenolic, Urethane systems) (IMANAAAC)

akta.pro secondary industries

Recycled & Reprocessed Polymer Resin Manufacturing (rPET, rPP, rPE; PCR/PIR resins) (IMANAAAH), Reprocessed Resin & Recycled Polymer Compounding (PCR/PIR Compounds) (IMANAMAG)

Keywords

• Unsaturated polyester resins
• PET recycled materials
• Composite materials manufacturing
• Wind power resins
• Marine certified resins

Headquarters

HQ city

Hezhou

HQ country

China

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

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

Revenue model

1. 不饱和聚酯树脂销售 (Unsaturated Polyester Resin Sales): Primary revenue stream from manufacturing and selling unsaturated polyester resins. The company operates at 360,000 tons/year design capacity, producing resins for construction materials, industrial manufacturing, wind power, shipbuilding, automotive, and rail transportation sectors. Products include standard resins, PET-based recycled material resins, and specialty grades.
2. 循环经济业务 (Circular Economy Business): Revenue from PET recycling and processing operations through subsidiary Guangxi Hualong Renewable Resources Co., Ltd. The company processes PET bottle flakes and converts them into raw materials for resin production, also selling processed PET materials.
3. 石油石化产品 (Petroleum and Petrochemical Products): Through subsidiary Fujian Nan'an Hualong Petroleum Co., Ltd., the company generates revenue from storage and wholesale of gasoline, diesel, kerosene, and petrochemical products including styrene, MEG, and DEG. Total storage capacity of 150,000 cubic meters.
4. 物流运输服务 (Logistics Transportation Services): Through subsidiary Youlong Logistics Co., Ltd., providing container road transportation and hazardous goods road transportation with total capacity of 440 tons. Revenue from freight services for company products and raw materials.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Hualong develops, manufactures, and sells unsaturated polyester resins (UPR) for industrial applications including construction materials, wind power, shipbuilding, automotive carbon fiber, and rail transit, with annual design capacity of 360,000 tons. The company also operates PET bottle recycling and processing (50,000 tons/year) to produce eco-friendly recycled resin grades, alongside petroleum storage/trading, logistics, and real estate operations through wholly owned subsidiaries.

Product overview

Hualong is a diversified chemical group with unsaturated polyester resin as its core product, serving industries including manufacturing, construction, wind power, marine, automotive carbon fiber, and rail transit. The company operates multiple subsidiaries across resin production (华砻树脂股份有限公司, 福建省南安市华龙树脂有限公司), renewable resources/PET recycling (广西华砻再生资源利用有限公司), petrochemical (福建省南安市华龙石油有限公司, 福建龙田石化有限公司), logistics (优隆物流有限公司), and real estate (贺州华垄投资有限公司). The product portfolio includes various resin types: industrial/manufacturing resins (191, H191 series), wind power resins (8300, 196X), CCS-certified marine resins (196, 8200), automotive carbon fiber resins (8400), rail transit resins (1220, 117), and eco-friendly PET recycled resins (HL-516, HL-5153). The company also developed internal platforms like 华砻云学院 for employee training and is expanding into real estate development with 华砻小区·中央公园 project.

Differentiator

Problem solved

Functional benefit

Brands

• 华砻树脂: 核心业务品牌 - 中高端环保不饱和聚酯树脂的研发、生产、销售和服务
• 华砻再生资源
• 华砻小区·中央公园
• 华砻乐湾酒店（THE ONE HOTEL）
• 华砻云学院
• 华龙慈善基金

Products and services

• Unsaturated Polyester Resin (不饱和聚酯树脂) Main product category including various types such as 191, H191, DC191, 1218 for manufacturing/industrial applications including desulfurization linings, BMC/SMC, industrial pipes and tanks. Designed for industrial manufacturers producing corrosion-resistant, mechanically strong composite components.
• Wind Power Resin (风力发电树脂) Vacuum infusion resins for wind turbine nacelles including models 8300 (orthophthalic/NPG) and 196X with good fiber wet-out and fast curing properties. Designed for wind turbine component manufacturers requiring high-performance resins for large composite structures.
• Marine Resin (船用树脂) Glass fiber reinforced resins with CCS (China Classification Society) certification. Models 196 and 8200 provide excellent water resistance and mechanical properties for ship/boat manufacturing. Designed for shipbuilders and boat manufacturers requiring certified marine-grade composite materials.
• Automotive Carbon Fiber Resin (汽车碳纤维树脂) Vacuum infusion resins for automotive modifications with good carbon fiber wet-out, low shrinkage, and high mechanical strength. Model 8400 (isophthalic/NPG). Designed for automotive parts manufacturers producing lightweight carbon fiber components.
• Rail Transit Resin (轨道运输树脂) GFRP resins for cable trays and vehicle interior seats. Models 1220 (high mechanical strength) and 117 (high impact) for lightweight transportation applications. Designed for rail transit equipment manufacturers.
• PET Recycled Resin (PET再生料树脂) Eco-friendly resins made from recycled PET bottles. Models HL-516 and HL-5153 for artificial stone/quartz stone production, helping customers achieve green manufacturing with 40% raw materials from recycled PET. Designed for eco-conscious stone producers and composite manufacturers.
• PET Bottle Recycling and Processing (PET塑料循环产业) Through subsidiary Guangxi Hualong Renewable Resources, the company processes 50,000 tons of PET annually (equivalent to reducing 2 billion plastic bottles) and converts them into raw materials for resin production, also selling processed PET materials for clothing fabrics, automotive decoration, and food packaging applications.
• Petroleum Storage and Petrochemical Trading (石油石化) Through subsidiary Fujian Nan'an Hualong Petroleum Co., Ltd., the company provides storage and wholesale of gasoline, diesel, kerosene, and petrochemical products (styrene, MEG, DEG). Total storage capacity of 150,000 cubic meters across 57 tanks with two wharves (5,000-ton and 3,000-ton). Serves energy companies including Sinopec, CNPC, CNOOC, Sinochem, Shell, BP China, and Quanzhou Jinjiang International Airport.
• Logistics Transportation Services (物流运输) Through subsidiary Youlong Logistics Co., Ltd., providing container road transportation and hazardous goods road transportation with total capacity of 440 tons. Supports freight movement for the group's products and raw materials.

Quantifiable outcome

• 360,000 tons/year unsaturated polyester resin production capacity, ranking among top in South China and Southwest China
• +3 more outcomes

Named customers9 records

Segments7 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Nine partnerships are on record, tiered major and core.

• 贺州学院 (Hezhou University)majorStrategic or Co-development Partner · 22 August 2018Established High-Performance Synthetic Resin Collaborative Innovation Center with Hezhou University for joint research, talent development, and new product development. Leverages university's Guangxi Calcium Carbonate Comprehensive Utilization Key Laboratory resources combined with Hualong's market expertise to advance calcium carbonate industry.
• 中化石油 (Sinochem Oil)coreStrategic or Co-development Partner · 1 January 2014Strategic partnership with Sinochem Oil for petroleum products supply and distribution. Major energy company partnership supporting Hualong's petroleum storage and trading operations in Fujian.
• 中国石油 (CNPC)coreStrategic or Co-development PartnerStrategic partnership with CNPC for petroleum products distribution and storage services.
• 中海油 (CNOOC)coreStrategic or Co-development PartnerStrategic partnership with CNOOC for petroleum products and petrochemical trading.
• 中国石化 (Sinopec)coreStrategic or Co-development PartnerStrategic partnership with Sinopec for petroleum products. Sinopec Fuel Oil Sales Fujian Branch is a key customer for Hualong's storage and logistics services.
• 泉州晋江国际机场 (Quanzhou Jinjiang International Airport)majorChannel Partner/ Reseller/ DistributorCustomer for aviation fuel supply and related petroleum services.
• 福建省交通运输集团 (Fujian Transportation Group)majorStrategic or Co-development PartnerStrategic partnership for transportation and logistics services in Fujian province.
• BP中国 (BP China)coreStrategic or Co-development PartnerStrategic partnership with BP China for petroleum products trading and distribution.
• 壳牌 (Shell)coreStrategic or Co-development PartnerStrategic partnership with Shell for petroleum products and petrochemical operations.

Scale indicators8 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• AOC: Global specialty resin manufacturer (formerly part of DSM/Aliancys) producing UPR, vinyl ester, and epoxy resins for composites, construction, and corrosion applications. Closely aligned product portfolio serving similar downstream end-markets as Hualong's specialty resin lines.
• Scott Bader: UK-based privately held specialty resin manufacturer producing unsaturated polyester, vinyl ester, and gel coat resins for marine, construction, wind, and transportation. Comparable specialty-grade focus and customer overlap in regulated marine and wind power markets.
• Polynt Group: Global leader in specialty resins including unsaturated polyester, vinyl ester, and gel coats following the Reichhold merger. Closest international comparable for UPR product breadth, end-market exposure (construction, marine, wind, automotive), and specialty/commodity split.
• Huachang Polymer: One of China's largest unsaturated polyester resin producers with similar multi-regional manufacturing footprint. Directly comparable product portfolio spanning general-purpose, specialty, and marine-grade UPR for construction, marine, and industrial applications across China.
• Tianhe Resin (天和树脂): Chinese unsaturated polyester resin manufacturer serving construction, artificial stone, and fiberglass-reinforced plastics markets. Direct mid-sized competitor with overlapping customer base in China's downstream composite materials industry.
• Huibaixin New Material (惠柏新材): Shenzhen-listed (300578) Chinese composite materials manufacturer producing UPR and epoxy resins for wind blades, automotive, and electronic applications. Comparable specialty resin strategy targeting renewable energy and transportation customers.
• Eternal Materials (长兴材料): Taiwanese-listed resin and specialty chemicals manufacturer producing unsaturated polyester resins, epoxy resins, and coatings for electronics, construction, and industrial markets. Comparable mid-sized Asian UPR producer with diversified downstream applications.
• Swancor Advanced Materials (上纬新材): Shanghai-listed (688585) composites and specialty resin manufacturer with overlapping product lines in vinyl ester and unsaturated polyester resins for wind power, marine, and corrosion-resistant applications. Comparable customer base in renewable energy and infrastructure composites.

Broad incumbents

• Hexion: Global thermoset resins leader producing epoxy, phenolic, and formaldehyde-based resins for adhesives, coatings, and composites. Overlaps with Hualong in thermoset chemistry and composites applications but operates a much broader portfolio at significantly larger global scale.

Emerging players

• Changzhou Huake Polymer (常州华科聚合物): Chinese specialty resin manufacturer focused on unsaturated polyester and vinyl ester resins for wind energy and corrosion-resistant applications. Comparable emerging competitor in Hualong's specialty resin niches but at smaller scale and narrower product range.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hualong-resin-co-ltd

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries8 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 Hualong