What Fujian Newchoice Pipe Technology does

Fujian Newchoice Pipe Technology (Fujian Nachuan Pipe Materials Technology Co., Ltd., ticker szse:300198), founded in 2003 in Quanzhou, Fujian Province and listed on the Shenzhen Stock Exchange ChiNext in 2011, is a diversified industrial group operating four business segments: pipe manufacturing, PPP infrastructure investment, new energy vehicle (NEV) components, and bulk raw-material trading. The pipe division produces HDPE winding structure-wall pipes, steel-skeleton PE composite pipes, green safety PE solid-wall pipes (including nuclear-grade), continuous-wound glass-fiber reinforced pipes, and polyester-reinforced composite jacking pipes, manufactured across 9 production bases and 50+ automated lines; the firm is the world's first producer of HDPE pipes exceeding 3300mm in diameter and one of only two firms globally qualified for ASME NPT nuclear Class 3 HDPE supply. Customers span municipal water utilities, state-owned nuclear and thermal power operators (CGN, CNNC, Huaneng, China Huaneng), large industrial SOEs (CCCC, Baosteel, China Railway), and overseas infrastructure projects, with 100,000+ km of pipe networks installed and 40+ sewage treatment plants under PPP operation.

Revenue is generated through one-time equipment sales (pipe products and NEV components such as the proprietary DAT automatic transmission and Xingheng Power lithium batteries), long-cycle managed services (BOT/PPP/BOT investment returns and pipe supply for infrastructure projects with a pipeline approaching 10 billion RMB), and raw-material trading via Nachuan Trade (domestic agent for SABIC, distributor for Sinopec Yanshan). Distribution combines direct enterprise field sales through sales offices in 20+ Chinese cities, nearly 100 domestic dealers, an overseas export department, and channel partnerships with EPC contractors and SOEs for project-based supply.

The group is controlled by central SOE China Three Gorges Corporation, which became the largest shareholder in 2020, and operates 31 subsidiaries spanning pipe production, water environment treatment, NEV powertrains and battery manufacturing, and bulk trade. Despite strong technical positioning (200+ patents, 200+ R&D personnel, national HDPE standards authorship, and anchor orders in nuclear, aerospace, and overseas mega-projects), reported financials show a roughly 90% revenue decline from 2021 to 2025 alongside persistent negative EBITDA and net losses, indicating that the franchise's competitive moat has not yet translated into stabilized earnings.

Name

Fujian Newchoice Pipe Technology

Legal name

福建纳川管材科技股份有限公司

Website

https://nachuan.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

51–100 employees

Short description

Fujian Newchoice Pipe Technology (szse:300198) is a Quanzhou-based, Three Gorges-controlled pipe manufacturer producing HDPE, steel-skeleton PE, and nuclear-grade pipes, plus new energy vehicle components and PPP water infrastructure, serving municipal, nuclear power, and industrial customers in China and 10+ export markets.

Ownership category

akta.pro rank

NAICS

Plastics Pipe and Pipe Fitting Manufacturing (326122), Plastics Pipe, Pipe Fitting, and Unlaminated Profile Shape Manufacturing (32612), Water and Sewer Line and Related Structures Construction (23711)

SIC

Water, Sewer, Pipeline, Comm & Power Line Construction (1623)

akta.pro primary industry

Water & Sewer Pipe & Fittings (PVC/HDPE/PP) (IMANADAA)

akta.pro secondary industries

Plumbing & Building Drain/Waste/Vent (DWV) Pipe & Fittings (IMANADAG), Pipes & Tubing (Metal, Plastic & Composite) (IMADALAC), Non-Potable/Industrial Water Conveyance Pipelines (Bulk/Interbasin) (TLAGAHAC)

Keywords

• HDPE pipe manufacturing
• Plastic pipe systems
• Water infrastructure solutions
• Nuclear grade piping
• New energy vehicle powertrains

Headquarters

HQ city

Quanzhou

HQ country

China

HQ region

Asia

Offices9 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. Pipe manufacturing and sales: Production and sales of various types of HDPE pipes, including winding structure-wall pipes, steel skeleton PE composite pipes, green safety PE solid-wall pipes, continuous winding glass fiber reinforced pipes, and related pipe fittings. Products sold domestically and exported to overseas markets.
2. PPP investment and construction: Investment in infrastructure projects using BOT, PPP, BT models. Projects include sewage treatment plants, water environment treatment, sponge city construction, and municipal infrastructure. Revenue generated from project investment returns and pipe product supply.
3. New energy vehicle components: Sales of power assemblies, DAT automatic transmissions, and lithium batteries for new energy vehicles. Includes after-sales service and technical support.
4. Bulk trade: Trading of domestic and imported pipe raw materials including HDPE, PP, and related petrochemical materials

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

Fujian Newchoice Pipe Technology manufactures and sells HDPE plastic pipe products — including winding structure-wall pipes, steel-frame PE composite pipes, green safety PE solid-wall pipes (including nuclear-grade variants), continuous winding fiberglass reinforced pipes, and polyester reinforced composite jacking pipes — for municipal water supply, drainage, sewage, nuclear power, petrochemical and marine engineering applications. The company also operates a secondary new-energy vehicle division supplying power assemblies, DAT automatic transmissions, electric-vehicle batteries and AEBS systems, plus a PPP investment unit executing water environment and sponge-city infrastructure projects.

Product overview

Fujian Newchoice Pipe Technology (纳川股份) is a diversified high-tech environmental protection industry group with two main business segments: (1) Pipe Products Division offering HDPE winding structure wall pipes, steel frame PE plastic composite pipes, green safety PE solid wall pipes (including nuclear grade), continuous winding fiberglass reinforced pipes, and polyester reinforced composite jacking pipes for water supply, drainage, nuclear power, and industrial applications; (2) New Energy Vehicle Division providing power assembly systems, DAT automatic transmissions, electric vehicle battery series, and AEBS autonomous driving systems for passenger vehicles, buses, and logistics vehicles. The company operates across multiple production bases in China and exports to Southeast Asia, Middle East, Africa, and South America.

Differentiator

Problem solved

Functional benefit

Brands

• 纳川管业 (Nachuan Pipe): Pipe manufacturing division producing HDPE, PE pipes and related products for water supply and drainage systems
• 纳川新能源汽车 (Nachuan New Energy Automobile)

Quantifiable outcome

• Pipes installed exceeding 100,000 km in length
• +7 more outcomes

Named customers19 records

Segments5 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

16 partnerships are on record, tiered core and strategic.

• CGN Huizhou Nuclear Power and CGN EngineeringcoreTechnology or Integration · 1 April 2023Joint establishment of 'Cold Source HDPE Pipeline On-time Delivery Joint Party Member Commando Team' to ensure Taipingling Project 1&2 unit LOT140C1 (HDPE pipeline and accessories) supply contract delivery.
• PetroChina Shanghai New Materials Research InstitutestrategicStrategic or Co-development Partner · 1 August 2022Joint R&D cooperation on nuclear-grade HDPE raw material localization, leveraging respective advantages in petroleum new materials and nuclear pipe manufacturing.
• CCCC (China Communications Construction Company)coreChannel Partner/ Reseller/ Distributor · 1 January 2020Cooperation on South China Sea island projects, providing large diameter full-series pipes and drainage solutions. CCCC acts as project integrator with Nachuan as pipe supplier.
• Shaanxi Water Environment CompanystrategicStrategic or Co-development Partner · 28 December 2019Strategic cooperation on river basin treatment, regional water environment governance and investment cooperation in Shaanxi Province.
• Quanzhou Water Conservancy GroupcoreStrategic or Co-development Partner · 4 September 2018Strategic cooperation agreement signed for water infrastructure projects, leveraging each other's advantages in water treatment and pipe supply capabilities.
• Shanghai Nuclear Engineering Research Institute (国核院)coreStrategic or Co-development Partner · 1 January 2018Joint R&D with Shanghai Nuclear Engineering Research Institute on CAP1400/CAP1000 nuclear power plant water system HDPE pipeline localization project, passed China Nuclear Energy Industry Association scientific and technological achievement appraisal.
• China Nuclear Industry 22nd Construction Co., Ltd.coreTechnology or Integration · 23 October 2017HDPE pipe supply for multiple nuclear power projects including Qinshan Phase II expansion, Fangjiashan, Hainan Changjiang, Lufeng, Xudapu, Gansu Nuclear Industrial Park.
• China Nuclear Power (CGN) Daya BaycoreTechnology or Integration · 1 January 2017Nuclear-grade HDPE pipe successfully applied in Daya Bay Nuclear Power Station cooling water filtration system renovation project - first domestic company with complete independent intellectual property in this field.
• ABS (American Bureau of Shipping)strategicTechnology or Integration · 1 January 2017ABS guided Shanghai Nachuan's ASME NPT certification application process, providing expertise in nuclear quality assurance system compliance.
• Beijing Institute of TechnologystrategicStrategic or Co-development Partner · 1 January 2017Cooperation with BIT School of Mechanical Engineering, joint industry-university research on electric vehicle technology. 'Electric Vehicle National Engineering Laboratory' Fuzhou base established.
• Yutong BuscoreTechnology or Integration · 1 January 2017Yutong pure electric cleaning vehicles used in 70th anniversary National Day military parade were equipped with Wanrun DAT transmission systems.
• China Railway No.1 Group Xiamen Construction EngineeringstrategicChannel Partner/ Reseller/ Distributor · 1 January 2016Pipe supply for Pingtan Comprehensive Experimental Zone underground utility tunnel PPP project with total investment of 3.818 billion RMB.
• CGN Shanghai Nuclear Engineering Research InstitutecoreStrategic or Co-development Partner · 1 January 2015Joint R&D agreement for nuclear-grade HDPE materials and joint development of nuclear-grade HDPE pipe technology. Shanghai Nachuan established HDPE joint laboratory with CGN researchers.
• Tongji University School of Automotive EngineeringstrategicStrategic or Co-development Partner · 1 January 2015Joint R&D with Tsinghua University automotive engineering team on commercial vehicle AEBS (automatic emergency braking system). First in China to pass third-party verification by Chongqing Vehicle Testing Center.
• SABIC Basic ChemicalsstrategicOthersNachuan Trade is a domestic agent for SABIC basic chemicals, supplying HDPE and PP raw materials for pipe manufacturing.
• Sinopec Yanshan PetrochemicalstrategicOthersNachuan Trade is a distributor for Sinopec Yanshan Petrochemical in South China region.

Scale indicators13 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• China Lesso Group Holdings: China Lesso is the largest plastic pipe manufacturer in China, producing PVC, PE, and PPR pipes for water supply, drainage, gas, and agricultural applications. Directly comparable to Nachuan in core HDPE/PE pipe manufacturing, target markets (Chinese municipal and infrastructure), and PPP/engineering distribution model.
• Yonggao Co., Ltd. Yonggao is a major Chinese plastic pipe producer focused on PVC and PE pipes for water supply, drainage, gas, and agricultural irrigation. Competes directly with Nachuan in HDPE water/sewer pipe segments and serves municipal and infrastructure customers across China.
• JM Eagle: JM Eagle is the largest PVC pipe manufacturer in North America producing plastic pipes for water, sewer, irrigation, and conduit. Comparable in large-scale plastic pipe manufacturing for municipal/infrastructure water and sewer applications.
• Pipelife Nederland BV: Pipelife is a European plastic pipe producer (Wienerberger subsidiary) manufacturing PE, PP, and PVC pipes for water, sewer, gas, drainage, and cable protection. Comparable in large-diameter structured-wall HDPE pipe manufacturing and European/CE-certified municipal pipe applications.
• Uponor Corporation: Uponor is a Finnish plastic pipe and fittings manufacturer specializing in PE-X and HDPE pipe systems for water supply, radiant heating, and infrastructure. Comparable in HDPE pipe technology focus and global municipal water/sewer customer base.
• Georg Fischer Piping Systems Ltd. Georg Fischer (GF Piping Systems) is a Swiss-based global manufacturer of piping systems for water and gas distribution, chemical processing, and industrial applications. Comparable in plastic and metal piping solutions for water, industrial fluid handling, and chemical-resistant applications.
• Wavin BV: Wavin (an Orbia company) is a European-headquartered plastic pipe manufacturer producing HDPE drainage, sewage, and pressure pipe systems for municipal and building applications. Comparable in core HDPE technology, large-diameter structured-wall pipes, and global municipal infrastructure focus.
• Advanced Drainage Systems, Inc. ADS is the leading North American manufacturer of high-density polyethylene corrugated pipe and water management solutions for stormwater, drainage, and on-site wastewater. Directly comparable in HDPE winding/structural-wall pipe technology and drainage infrastructure customer base.

Broad incumbents

• Nan Ya Plastics Corporation: Nan Ya Plastics is a major Taiwanese petrochemical and plastics manufacturer producing PVC, PE, and related pipe and building materials. Comparable as an Asian petrochemicals-incumbent plastic pipe producer with similar municipal customer base.
• Sekisui Chemical Co., Ltd. Sekisui Chemical is a diversified Japanese materials manufacturer with significant pipe and infrastructure products business producing plastic and composite pipes. Comparable in HDPE pipe technology and as a broader chemicals/materials incumbent in the plastic pipe industry.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries9 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 Fujian Newchoice Pipe Technology