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Yip’s Chemical was founded as Hang Cheung Hong and became a publicly listed company in 1991. As it has adapted to changing market conditions, it has gradually grown in size and become one of the largest chemical manufacturers in China.
On October 25, 1971, a shop named Hang Cheung Hong, at 425
Queen's Road West, Hong Kong, opened its doors for the first
time. It sold petrochemical products and was the forerunner to
what later became Yip's Chemical Holdings Limited.
Driven
by a belief that "diligence breeds success" and "sincerity wins
trust", Hang Cheung Hong consolidated its position and explored
new opportunities.
Under China's policy of opening up its
economy, the Group began expanding its product range and
creating its own brands.
With the founding of the “Bauhinia” brand, the Group made its entry into the paints market.
The Group set up its first factory, Hang Cheung Petrochemical Factory, in Buji, Shenzhen.
The Group established its headquarters, Yip's Chemical Building, in Fanling, Hong Kong.
In August 1991, the Group was listed on the Stock Exchange of Hong Kong (Stock code: 408), marking a new milestone.
The Group developed steadily and penetrated the huge China market, through initiating various mergers and acquisitions, while continuing to invest in new production facilities and setting up sales offices, and venturing into new businesses.
The Group’s business in automotive and industrial lubricants began with the launch of Best Lubricant Blending Limited.
The Group’s first solvents plant, in Jiangmen, was formally put into operation for the production of ethyl acetate and butyl acetate.
The launch of Yip’s Ink and Chemicals Company Limited marked the Group’s entrance into the huge inks market.
The Group formally changed its name to Yip’s Chemical Holdings Limited.
The Group formally changed its name to Yip’s Chemical Holdings Limited.
When its solvents plant in Taixing, Jiangsu, was put into production, the Group formally expanded into the Eastern China solvents market.
New factories in Huiyang, Zhongshan and Zhejiang under the coatings and inks businesses were constructed and equipped with the most advanced automatic production lines and facilities, significantly increasing productivity.
Groundwork for the building of a new coatings plant in Jinshan, Shanghai, was laid.
Yip’s Chemical assumed the distinction of being the world’s largest producer of acetate solvents as its annual capacity shot up from 7,500 metric tons in 1993 to 700,000 metric tons in 2012.
Bauhinia Coatings Group was established and began management of the architectural coatings, industrial coatings and resins businesses under Yip’s Chemical.
Charity Movie “20:16”, based on the true story of Yip’s Chemical Chairman Mr. Tony Ip, premiered across China and spread inspiring messages to society.
The Group acquired the Camel brand, which strengthened its market position in Southern China and created synergies with Bauhinia Coatings Group.
Yip’s Chemical invested in Damai, a car maintenance chain in China, to expand into the automobile aftermarket.
The Group was granted its first ever green loan from HSBC Hong Kong to fund the construction of environmental infrastructure at its plants.
The new production lines were successfully commissioned in the solvents plant in Taixing, Jiangsu with an annual production capacity exceeding 1 million tons per year, making it the largest acetate production base in the world.
Yip's Chemical ventured into sanitization industry with the launch of “EUCA” sanitizing products, upholding our “end-user oriented” and “service-oriented” development approach.
The Group obtained its first sustainability-linked embedded syndicated loan of HK$600 million.
The solvents production plant with an annual production capacity of 600,000 metric tons in the economic development zone of Gaolan Port, Zhuhai commenced operation.
Yip's Chemical proposes to sell 51% effective interest in solvents business to PAG for HK$2,688 million, jointly developing the upstream raw material for its solvents business.
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