Zhejiang Reclaim Construction Group

What Zhejiang Reclaim Construction Group does

Zhejiang Reclaim Construction Group (commonly known as Weihai Gufen, SZSE: 002586) is a publicly listed Chinese general contractor founded in 1984 and headquartered in Ningbo, Zhejiang Province. The firm specializes in water conservancy and marine engineering — seawall construction, land reclamation, waterway engineering, municipal drainage and supply infrastructure — and is positioned by management as China's only private-sector water conservancy listed company, with total assets exceeding RMB 100 billion. Its customer base is overwhelmingly government and public-sector: municipal, provincial, and national authorities procuring through direct tenders and PPP contracts (e.g., Anhui's "No. 1 Project" 引江济淮 — the third-largest water project after Three Gorges and South-to-North Water Transfer; the Wenzhou Oufei reclamation at RMB 27.84 billion total investment; Hong Kong-Zhuhai-Macau Bridge East Artificial Island deep-water foundations; Hangzhou's Qiandao Lake-to-Xianlin Reservoir supply tunnel).

The company's competitive base is a portfolio of self-developed engineering technologies and specialized equipment. Proprietary innovations include a plastic drainage board insertion vessel for deep-water soft foundation treatment (claimed international-leading status), the in-situ silt solidification technology developed jointly with Zhejiang University (over 30 national patents, documented output value of nearly RMB 300 million across multiple provinces), and the spiral silt solidification machine — described as the only such unit in China. The group has also built out environmental water treatment capability through R&D subsidiaries, delivering MBR membrane purification, aeration biochemical systems, and artificial wetland systems (including the 200,000-ton-per-day Taizhou Bay modern agricultural water-ecology wetland, claimed as China's largest). More peripheral non-core subsidiaries extend into cultural entertainment media (65%-owned Beijing Chenge Lexin) and urban planning design (Shanghai Millennium / Qiandian Design).

Revenue is generated through a mix of one-shot EPC construction contracts, long-duration PPP investment-and-operation returns, and subsidiary-driven environmental technology services. GTM is field sales into government infrastructure procurement — direct tender and PPP bidding — supplemented by strategic partnerships with state-owned design institutes (Changjiang Survey and Design Institute) and complementary contractors (Anhui Shuian Construction Group). The group operates a deep subsidiary network spanning engineering R&D, regional market entities in Jiangsu, Shandong, and Zhoushan, a Shanghai-based PPP fund manager (Kaimai Equity), and cultural-industry holding entities. Recent performance volatility and the September 2019 Market-Oriented Reform Outline suggest active restructuring, with FY2025 financial figures indicating a return to profitability after multiple loss-making years.

Name

Zhejiang Reclaim Construction Group

Legal name

浙江省围海建设集团股份有限公司

Website

https://weihaigufen.com.cn

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Zhejiang Reclaim Construction Group (SZSE: 002586) is a publicly listed Chinese general contractor specializing in water conservancy, seawall construction, and land reclamation, serving municipal, provincial, and national government clients through tenders and PPP contracts.

Ownership category

akta.pro rank

Product category

Water Conservancy and Marine Engineering Construction

NAICS

Heavy and Civil Engineering Construction (237), Water and Sewer Line and Related Structures Construction (237110), Water and Sewer Line and Related Structures Construction (23711), Remediation Services (56291)

SIC

Heavy Construction Other Than Bldg Const - Contractors (1600), Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Water Supply (4941)

akta.pro primary industry

Dredging & Channel Deepening (Capital & Maintenance) (IMAFAJAB)

akta.pro secondary industries

Storage & Conveyance Structures (Reservoirs, Tanks, Culverts, Tunnels) (IMAFAGAE), Water Treatment Plant Construction (Drinking Water) (IMAFAGAA), Water Reclamation & Reuse Production (Tertiary/Advanced Treatment) (EUANADAD)

Keywords

• Water conservancy construction
• Land reclamation engineering
• Seawall construction services
• Marine engineering contracting
• Environmental water treatment

Headquarters

HQ city

Ningbo

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Engineering Construction Services: The company's primary revenue stream from water conservancy and marine engineering construction projects including seawall construction, land reclamation, waterway engineering, and municipal infrastructure. Revenue is generated through project contracts, PPP models, and EPC contracts.
2. PPP Project Investment and Operation: Investment returns from Public-Private Partnership projects where the company participates in investment, construction, and operation phases of large infrastructure projects.
3. Environmental Technology Services: Revenue from subsidiaries engaged in environmental protection technology including wastewater treatment, wetland protection, river comprehensive management, and municipal landscape construction.
4. Cultural Media (Subsidiary): Revenue from entertainment and media subsidiaries including film production investments and cultural projects.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Zhejiang Reclaim Construction Group provides general contracting of water conservancy and marine engineering construction, with core competencies in seawall construction, large-scale land reclamation, waterway engineering, water supply and drainage, and municipal infrastructure. The company also invests in and operates Public-Private Partnership (PPP) projects across China, and delivers environmental water treatment solutions including wastewater treatment, wetland restoration, and river comprehensive management through specialized subsidiaries.

Product overview

Zhejiang Reclaim Construction Group (Weihai) is a comprehensive water conservancy and construction engineering enterprise offering integrated services from project research and design through construction to management consultation. The company's product portfolio centers on sea dyke construction and land reclamation as core competencies, supported by proprietary technologies including plastic drainage board insertion systems, spiral sludge solidification machines, and silt in-situ solidification technology. Environmental water treatment solutions encompass aerobic biochemical treatment, MBR membrane purification, and artificial wetland systems. The company operates specialized subsidiaries focused on environmental protection technology and engineering R&D, providing full lifecycle services from planning and design through construction and operation for municipal water, wastewater treatment, wetland restoration, and river management projects.

Differentiator

Problem solved

Functional benefit

Products and services

• Sea Dyke Construction and Land Reclamation Engineering General contracting of seawall construction and large-scale land reclamation projects for government clients. The company possesses Class I qualifications for hydraulic and hydroelectric engineering construction and is recognized as a national leader in sea dyke construction.
• Water Conservancy and Municipal Infrastructure Construction

Quantifiable outcome

• 瓯飞工程创瓯飞速度：21个月完成3万多亩围垦闭合，比合同提前8个月完工
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• 长江勘测设计研究院 (Yangtze River Survey and Design Institute)coreStrategic or Co-development Partner · 17 July 2017Strategic cooperation framework agreement signed on July 17, 2017. Long-term cooperation in water conservancy, ecological environment protection, municipal transportation, port and waterway, and coastal construction. Both parties committed to mutual information sharing and joint market development domestically and internationally.
• 安徽水安建设集团 (Anhui Shuian Construction Group)coreStrategic or Co-development PartnerStrategic cooperation agreement signed on July 19, 2018. Both parties agreed to cooperate in market development, technology, and project execution. Anhui Shuian holds Grade I qualifications in water conservancy, hydropower, and housing construction, and Grade I in municipal construction.
• 宏力阳生态建设 (Hongliyang Ecological Construction)coreOthersSubsidiary company (Zhejiang Hongliyang Ecological Construction Co., Ltd.) engaged in water conservancy, landscape, and ecological construction projects. Revenue-generating subsidiary.
• 四川未来绿洲市政公用工程有限公司 (Sichuan Future Oasis Municipal Utility Engineering Co., Ltd.)minorOthersSubsidiary specialized in technology R&D. One of the professional R&D subsidiaries under the group.
• 宁波高新区围海工程技术开发有限公司 (Ningbo High-tech Zone Weihai Engineering Technology Development Co., Ltd.)minorOthersSubsidiary specialized in engineering technology R&D. Operates the academician workstation.
• 浙江大学宁波理工学院 (Zhejiang University Ningbo Institute of Technology)minorStrategic or Co-development PartnerCooperation on ecological seawall research. University introduced Hong Kong University & Tsinghua University Professor Li Zhuofen (Chinese Academy of Engineering, Canadian Academy of Engineering) to collaborate on ecological seawall new discipline research. Preliminary alignment on building 'ecological seawall' demonstration project.
• 启迪科技城 (TusTech City)minorStrategic or Co-development PartnerTus Holdings subsidiary with 23 years of technology park development experience. Discussed cooperation on industrial and market development. Both parties agreed to explore substantive cooperation through specific project collaboration.
• 千年设计 (Qiandian Design / Shanghai Millennium Urban Planning Engineering Design Co., Ltd.)minorStrategic or Co-development PartnerSubsidiary acquired by Weihai. Engaged in urban planning and design. Participated in Nanning Rail TOD project with Japanese Nikken Sekkei.
• 宁波金洋 (Ningbo Jinyang)minorOthersSubsidiary company mentioned in 2015 annual work conference.
• 湖州设计院 (Huzhou Design Institute)minorOthersSubsidiary company engaged in design services.
• 江苏围海 (Jiangsu Weihai)minorOthersSubsidiary based in Lianyungang, Jiangsu Province. Focuses on淤泥固化、设备生产主营业务. Established as base for technology transfer and market expansion in Jiangsu and northern China.
• 北京橙乐新娱文化传媒有限公司 (Beijing Chenge Lexin Entertainment Media Co., Ltd.)minorOthersSubsidiary (65% owned) established in May 2016 with registered capital of 50 million RMB. Core platform company for cultural entertainment as second main business. Invested in film 'Machine Blood' with iQiyi.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Van Oord: Privately-held Dutch marine contractor specializing in dredging, land reclamation, and offshore construction. Comparable to Reclaim on seawall and reclamation project delivery, with deep expertise in soft-soil foundation treatment analogous to Reclaim's plastic drainage board and silt solidification technologies.
• PowerChina: China's largest water conservancy and hydropower construction state-owned enterprise (601669.SH). Directly comparable as the dominant player in the same water infrastructure construction market where Reclaim operates, though at substantially larger scale and with state-owned financing advantages.
• DEME: Belgian marine engineering and dredging group with global operations in land reclamation, seawall construction, and offshore foundations. Comparable international peer for Reclaim's seawall/reclamation core, though operating at larger global scale with broader service portfolio.
• Royal Boskalis Westminster: Dutch-listed global leader in marine contracting, dredging, and reclamation. Most comparable international peer to Reclaim's seawall construction, land reclamation, and silt solidification capabilities, with similar exposure to large-scale coastal protection and land creation projects.
• Anhui Construction Engineering: Provincial water conservancy and general construction company (600502.SH) listed on the Shanghai Stock Exchange. Comparable in scale and product mix (water conservancy, municipal, environmental) and competing for similar government tenders in eastern China.
• Anhui Shuian Construction Group: Strategic partner of Reclaim (cooperation agreement July 2018) and Grade I qualified water conservancy contractor. Closely comparable as a regional Chinese water conservancy builder operating in adjacent geographies with similar project types.

Broad incumbents

• China Energy Engineering: State-owned energy and infrastructure conglomerate (601868.SH) that absorbed Gezhouba Group, historically one of the largest water conservancy builders in China. Overlaps with Reclaim on hydroelectric BOP, water conveyance, and marine engineering scopes.
• China Railway Construction Corporation (CRCC): Major state-owned infrastructure conglomerate (601186.SH) with adjacent capabilities in heavy civil construction. Competes with Reclaim on certain large-scale PPP infrastructure tenders and provides a benchmark for how SOE contractors capture government-funded mega-projects.
• China Communications Construction Company (CCCC): State-owned marine and coastal construction giant (601800.SH / 1800.HK) with overlapping capabilities in seawall, reclamation, port, and dredging work. Directly competed with Reclaim on Hong Kong-Zhuhai-Macao Bridge marine foundation contracts and represents the benchmark for marine infrastructure scale.
• Shanghai Construction Group: Large diversified construction group (600170.SH) with material exposure to water infrastructure and municipal PPP projects. Comparable as a publicly listed Chinese contractor competing in eastern China for water conservancy and PPP mandates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/zhejiang-reclaim-construction-group-co-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries11 records

Funding overview

Funding rounds

Investors

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

M&A

Investments2 records

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

Frequently asked questions about Zhejiang Reclaim Construction Group