Wanhua Chemical finalizes strategic partnership with Kuwait's PIC

Wanhua Chemical Group announced the completion of industrial and commercial change registration for its subsidiary, Wanhua Chemical (Yantai) Petrochemical Co., Ltd., following a strategic capital injection. Petrochemical Industries Company K.S.C. (PIC), a wholly-owned subsidiary of Kuwait Petroleum Company (KPC), has invested $638 million into Wanhua Chemical (Yantai) Petrochemical Co., Ltd., acquiring a 25% equity stake.

This transaction aims to enhance raw material supply security, diversify operational risks, and accelerate Wanhua Chemical's international expansion. The equity change, registered on September 3, 2025, sees Wanhua Chemical Group's ownership in its Yantai subsidiary adjust from 100% to 75%. PIC now holds the remaining 25%.

PIC's parent, KPC, is a global energy group managing Kuwait's hydrocarbon resources. PIC itself is responsible for KPC's petrochemical business. This partnership is expected to support KPC's "oil-to-chemicals" strategy and contribute to national "Belt and Road" initiatives.