Yip's Chemical Holdings

What Yip's Chemical Holdings does

Yip's Chemical Holdings (葉氏化工集團有限公司) is a Hong Kong-listed (HKEX: 408) specialty chemicals group founded in 1971 as a single thinner shop in Sai Wan, Hong Kong, and now operating across five business verticals: industrial solvents (via 24%-owned joint venture Qianxin Chemical / Handsome Chemical, the world's largest acetate ester solvent producer with 1.5M+ tons annual capacity), architectural and industrial coatings (Bauhinia Paint / Camel Paint / Dachang Resin brands under Bauhinia New Materials Group), printing inks (Bauhinia Ink, China's largest ink manufacturer ranked 16th globally in 2025), automotive and industrial lubricants (Lishi and Bogao brands), and chemical gas emission recovery and treatment (acquired Sinohypro, December 2025). The group maintains production bases in Shenzhen, Zhuhai, Taixing, Jingmen, Shanghai Jinshan, Huiyang, Zhongshan, Tongxiang, Chengdu, and Huangshi, plus its first overseas coatings factory in Hai Phong, Vietnam (opened May 2026), and employs approximately 2,500 staff. Revenue mechanics are predominantly B2B direct sales for the solvent business, dealer and developer partnerships for coatings, and nationwide distribution plus direct enterprise sales for inks, lubricants, and gas recovery; pricing is quote-based and not publicly disclosed. In 2022 the company sold a 51% controlling stake in the solvent business to PAG for HK$2.688 billion while retaining a 24% economic interest, structurally repositioning the group as a focused downstream specialty chemicals operator with selective JV exposure to upstream solvents. Profit attributable to shareholders rose to HK$137 million in 2025 (FY2024: HK$96.9 million). Strategic posture is one of selective diversification into environmental technology (Sinohypro), new energy vehicle supply chains (Youyike, 2024), consumer end-markets (EUCA disinfectant brand, 2020), and Southeast Asia (Vietnam factory, 2026).

Name

Yip's Chemical Holdings

Legal name

葉氏化工集團有限公司

Website

https://yipschemical.com

Company type

Public

Founded year

1971

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Yip's Chemical Holdings (HKEX: 408) is a Hong Kong-listed specialty chemicals group operating across solvents (via Qianxin JV), coatings, printing inks, lubricants, and chemical gas recovery, serving industrial and consumer customers primarily in China with first overseas factory opened in Vietnam in 2026.

Ownership category

akta.pro rank

Product category

Specialty Chemicals Manufacturing

NAICS

Petrochemical Manufacturing (32511), Paint and Coating Manufacturing (32551), Printing Ink Manufacturing (325910)

SIC

Industrial Organic Chemicals (2860), Chemicals & Allied Products (2800), Paints, Varnishes, Lacquers, Enamels & Allied Prods (2851)

akta.pro primary industry

Plasticizers & Solvents (Phthalates/Alternatives, Commodity Solvents) (IMAEADAK)

akta.pro secondary industries

Industrial & Protective Coatings (IMAEAGAB), Aftermarket Fluids, Lubricants & Chemical Products Manufacturing (Oils/Coolants/Additives/Cleaners) (IMACANAK)

Keywords

• Industrial chemical manufacturing
• Architectural and industrial coatings
• Printing inks production
• Automotive and industrial lubricants
• Acetate ester solvents

Headquarters

HQ city

Wanchai

HQ country

China

HQ region

Asia

Offices13 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. Solvents: Production and sales of acetate ester solvents including ethyl acetate, butyl acetate, and related products. The group holds 24% stake in Qianxin Chemical (謙信化工), the world's largest acetate ester solvent producer. Annual production capacity exceeds 1.5 million tons.
2. Coatings: Architectural coatings, industrial coatings, and resins under brands including 紫荊花, 駱駝漆, 大昌樹脂. Production bases in Shanghai Jinshan, Guangdong Huiyang, Sichuan Chengdu, with automated production lines.
3. Printing Inks: Gravure inks, offset inks, screen inks, UV inks, solvents, and eco-friendly processing materials. 洋紫荊油墨 is China's largest ink supplier, ranked 16th globally in 2025. Production bases in Guangdong Zhongshan, Zhejiang Tongxiang, and Hubei Huangshi.
4. Lubricants: Automotive and industrial lubricants under 力士 and 博高 brands. Products include engine oils, coolants, brake fluids, gear oils, hydraulic oils. Reorganized distribution channels and brand positioning.
5. Chemical Gas Recovery & Treatment: Research, design, manufacturing, and provision of professional system solutions for chemical gas emissions management. 60% equity acquired in 北京信諾海博石化科技發展有限公司 in 2025.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Yip's Chemical Holdings manufactures and sells a diversified portfolio of chemical products including acetate ester solvents (ethyl acetate, butyl acetate, propyl acetate, butyl acrylate) via the Qianxin Chemical joint venture, architectural and industrial coatings under the Bauhinia (紫荊花), Camel Paint (駱駝漆), and Dachang Resin (大昌樹脂) brands, printing inks under the Bauhinia Ink (洋紫荊油墨) brand, automotive and industrial lubricants under Lishi (力士) and Bogao (博高) brands, and chemical gas recovery and treatment systems via the Sinuo Haibo (信諾海博) subsidiary. The group operates multiple manufacturing bases across China and a new coatings factory in Vietnam, serving industrial customers across construction, packaging, automotive, pharmaceuticals, petrochemical, and consumer goods sectors.

Product overview

Yip's Chemical Holdings operates as a diversified chemical platform with five interconnected core business segments: (1) Solvents — the largest segment via a joint venture谦信化工, the world's largest acetate solvent producer with production bases in Zhuhai, Jiangsu Taixing, and Hubei Jingmen; (2) Coatings — managed under紫荊花新材料集团 with brands紫荊花 (top-10 China coatings), 駱駝漆 (acquired in 2018), and大昌树脂, with automated production bases in Shanghai Jinshan, Guangdong Huiyang, and Sichuan Chengdu; (3) Inks — under洋紫荊油墨 brand, China's largest ink manufacturer ranked globally in the top 20, with facilities in Zhongshan, Zhejiang, and Hubei Huangshi; (4) Lubricants — under力力士 and博高 brands serving automotive and industrial markets; and (5) Chemical gas recovery via acquired subsidiary信諾海博 (60% stake acquired 2025), providing emission management solutions. The company is expanding toward consumer-facing 'terminalization' with the EUCA disinfectant brand launched in 2020, and entered new materials via startup優毅科 (2024) for EV battery coatings. All businesses share shared distribution networks, manufacturing scale, and sustainability-aligned product development across the platform.

Differentiator

Problem solved

Functional benefit

Brands

• 紫荊花 (Bauhinia Paint): Architectural coatings, industrial coatings, and resins brand established in 1982, ranked among top 10 coatings producers in China. Features products including interior/exterior wall coatings, floor coatings, art coatings, and waterproofing materials.
• 洋紫荊 (Bauhinia Ink)
• 駱駝漆 (Camel Paint)
• 力士 (Lishi/Lexus Lubricant)
• 博高 (Bogao)
• 信諾海博 (Sinuo Haibo)
• 優毅科 (Youyike)
• EUCA
• 水專家 (Water Expert)
• 威煌 (Weihuang)

Products and services

• Acetate Ester Solvents Environmental-friendly organic solvents including ethyl acetate, n-butyl acetate, n-propyl acetate, mixed butyl acetate, and butyl acrylate, widely applied in coatings, leather, pharmaceuticals, adhesives, and battery industries. Produced via the Qianxin Chemical joint venture, the world's largest acetate solvent producer with annual capacity exceeding 1.5 million tons.
• Architectural and Industrial Coatings (Bauhinia, Camel Paint, Dachang Resin) Building coatings (interior/exterior wall, floor, art, waterproof), industrial coatings (furniture wood, toys, anti-corrosion), and specialty resins (acrylic, water-based, alkyd, polyester, polyurethane). Managed under Bauhinia New Materials Group with brands including Bauhinia Paint (紫荊花), Camel Paint (駱駝漆), and Dachang Resin (大昌樹脂). Ranked among top 10 in China, 62nd globally in 2025.
• Bauhinia Ink (洋紫荊油墨) Printing Inks Printing inks including gravimetric ink, offset ink, screen ink, UV ink, and eco-friendly processing materials (low-VOC water-based inks) serving food, beverage, daily goods, industrial products, electronics, and packaging industries. Ranked No. 1 in China's ink market and 16th globally in 2025.
• Automotive and Industrial Lubricants (Lishi/F力士, Bogao/博高) Automotive and industrial lubricants including engine oil, coolant, brake fluid, lubricating grease, gear oil, ATF oil, hydraulic oil, and specialty oils under Lishi (力士) and Bogao (博高) brands, serving automotive, electronics, home appliances, bearings, steel, and other industrial sectors.
• Chemical Gas Recovery and Treatment Solutions (Sinuo Haibo/信諾海博) Chemical gas recovery and treatment solutions including research, design, manufacturing, and provision of professional system solutions for managing chemical gas emissions from petrochemical production, oil storage, and transportation operations. Over 10 invention patents and 20 software copyrights. Successfully deployed 100+ sets of milligram-level oil-gas recovery devices.
• EUCA Personal and Home Disinfectant Brand Personal and home disinfectant products launched in 2020 as the group's first consumer-facing brand, extending the platform beyond industrial chemicals into consumer household products.
• Youyike (優毅科) UV-Cured Coatings and Polymer Materials UV-cured coatings and polymer materials for new energy vehicle power batteries and related components, expanding industrial coatings into new energy vehicle battery applications.

Quantifiable outcome

• Global No. 1 in acetate ester solvents with 1.5+ million tons annual capacity
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• 北京信諾海博石化科技發展有限公司 (Sinohypro)coreStrategic or Co-development Partner · 1 October 2025Acquired 60% equity in China's leading chemical gas recovery and treatment company for RMB 288 million in 2025, expanding business into chemical gas governance sector.
• 大嘜養車 (Damai Auto)minorStrategic or Co-development Partner · 1 January 2019Invested in Chinese auto maintenance chain brand, expanded into auto aftermarket. Increased stake to 61% in 2020.
• 謙信化工發展有限公司 (Qianxin Chemical)coreStrategic or Co-development PartnerJoint venture for solvents business - Qianxin Chemical is the world's largest acetate ester solvent producer. Yip's Chemical holds 24% stake after selling 51% controlling interest to PAG.
• 亞洲防盲基金會minorStrategic or Co-development PartnerPartnership since 2010 for mobile eye surgery vehicle donation program, helping cataract patients in China.
• 中國殘疾人聯合會minorStrategic or Co-development PartnerPartnership since 2010 for mobile eye surgery vehicle donation program across multiple provinces in China.
• 葉志成慈善基金minorStrategic or Co-development PartnerPrivate charitable foundation established by Chairman Yip Chi-shun in 2006, donated over HK$30 million for eye surgery program.
• Hong Kong Quality Assurance AgencyminorOthersIssued green finance pre-issuance certificate for Yip's Chemical 2018 Green Financing Framework.

Scale indicators12 records

Recent moves11 records

Expansion highlights4 records

Direct peers

• Sun Chemical: World's largest printing ink manufacturer (subsidiary of DIC Corporation); overlaps with Yip's Bauhinia Ink business in offset, gravure, and packaging inks globally.
• DIC Corporation: Japanese specialty chemicals and printing inks producer (parent of Sun Chemical); competes with Yip's Ink and operates in similar pigments, resins, and performance materials categories in Asia.
• Skshu Paint: Leading Chinese architectural and industrial coatings producer competing directly with Yip's Bauhinia Paint in the China market, with similar exposure to property developer demand and decorative coatings distribution channels.

Broad incumbents

• PPG Industries: Global industrial and architectural coatings leader; competes directly with Yip's industrial coatings for metal, wood, and transportation finishing, with comparable low-VOC and water-based technology programs.
• Sherwin-Williams: Global architectural coatings leader with branded paints distribution; anchors the same competitive dynamics as Yip's Bauhinia Paint at the high end of the architectural coatings market.
• AkzoNobel: Global paints, coatings, and specialty chemicals major; benchmarks Yip's pigments/coatings business in international markets and competes in architectural and industrial coatings categories worldwide.
• Celanese Corporation: Global acetyls and engineered materials leader supplying acetic acid and acetyls chain intermediates, directly comparable to the upstream chain that feeds Yip's acetate ester solvent JV.
• Eastman Chemical: Global specialty chemicals player with significant solvents and additives businesses; competes with Yip's solvent JV in commodity and specialty acetate ester markets internationally.
• Huayi Group: Large diversified Chinese chemical conglomerate producing coatings, inks, solvents, and related intermediates; comparable in business mix and China-centric footprint to Yip's Chemical Holdings.

Regional players

• Sinopec Lubricant Company: China's largest lubricants producer and state-owned peer competing with Yip's Lishi/Bogao lubricant brands in automotive engine oils, gear oils, and industrial lubricants across mainland China.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments5 records

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

Frequently asked questions about Yip's Chemical Holdings