Founded in 2013, located in Shangyu Economic and Technological Development Zone, Hangzhou Bay, the Company is a technology-based enterprise that develops and produces chlorotoluene and benzotrifluoride series products. Zhejiang Weihua New Materials Co., Ltd. was established by Zhejiang Weihua Chemical Co., Ltd. and Zhejiang Runtu Co., Ltd., with a registered capital of RMB 126 million. The Company covers an area of 200 mu, with a total construction area of about 80,000 square meters and a total investment of RMB 450 million in Phase I.
The Company's products are mainly used for two purposes: first, as a new environmentally friendly coating solvent, mainly used in high-end automobiles, bridges, military aircraft and interior decoration, etc., with the target market in Europe and the United States. Second, as intermediates for new pesticides, pharmaceuticals; some products are key intermediates within the patent protection period of the world's pesticide and pharmaceutical giants; our main customers are global large-scale pesticide and pharmaceutical enterprises.
This is a relocation and upgrading project of the Company. The project has been equipped with a comparatively complete industrial chain of chlorotoluene and benzotrifluoride series products with toluene as the starting material. With the leading production process and digital and automatic engineering control technology in China, the product quality has been able to reach an advanced level in China or internationally. The Company has now become the largest enterprise in terms of the production and R&D of benzotrifluoride series products around the world. The Company owns patents or know-hows in continuous stirred-tank reaction, continuous tower reaction, continuous microchannel and tubular reaction. Zhejiang Weihua Chemical Co., Ltd., the controlling shareholder, is a technology-based enterprise integrating technology development, product production and trade. It has won the second place in the National Prize for Progress in Science and Technology, the first place in the Prize for Progress in Science and Technology of Zhejiang Province, the first place in the Prize for New Product and New Technology of Zhejiang Province, the National Patent Excellence Award and the like, as well as has participated in the drafting of national standards and industry standards. Relevant patents and national standards will play an important role in the Company with the transfer and construction of products.