Summary: In late Aug. 2023, the 1.00 million t/a high-end coating and supporting packaging product project of Lehua Technology began construction.

In late Aug. 2023, Weifang City, Shandong Province held a meeting to promote the construction of major high-quality development projects in autumn in 2023. Specifically, 36 projects started construction in Shouguang City of Weifang City, with a total investment hitting USD4.16 billion (RMB29.86 billion), covering fields of high-end chemical, modern efficient agriculture, new material, infrastructure, tourism, and health care. The 1.00 million t/a high-end coating and supporting packaging product project of Shandong Lehua Technology Co., Ltd. (Lehua Technology) is one of the projects in Shouguang City.

Lehua Technology's project, with a total investment of USD348.25 million (RMB2.50 billion), is situated in Houzhen Marine Chemical Industrial Park in Shouguang City, covering an area of around 33.33 hectares. This project will construct new workshops, warehouses, tank area and other supporting facilities, as well as resin, coating, and supporting packaging product production devices. When this project is completed and put into production in 2025, it will achieve capacity of 500,000 t/a high-end resins and 500,000 t/a environmental high-end coatings while creating more than 800 new jobs. It is estimated to attain annual output value of USD696.50 million (RMB5.00 billion) and profit and tax of USD80.79 million (RMB580.00 million).

Lehua Technology was founded on 1 April, 2020 with registered capital of USD1.39 million (RMB10.00 million). The company mainly engages in R&D, production, and sales of waterborne resins, waterborne coatings, inks, etc.

Shandong Lehua Group Co., Ltd. (Shandong Lehua Group) is the controlling shareholder of Lehua Technology and was established in 1987, integrating production, sales, and services of coatings and packaging products. Shandong Lehua Group's main products include high-temperature paint, automotive coating, epoxy floor coating, fire-retardant coating, fluorocarbon coating, etc., with capacity hitting 200,000 t/a.