Wanwei High-Tech plans to raise no more than 3 billion yuan through a private placement to fund projects such as polyvinyl alcohol optical films
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On the evening of March 11, Wanwei High-Tech announced that it plans to issue A-share stocks to specific investors at a price of 6.42 yuan per share, with the total amount of funds raised not exceeding 300,000.00 million yuan (including this amount). After deducting the related issuance costs, the net amount of funds raised will be used entirely for the 200,000-ton/year polyvinyl alcohol resin project produced via the ethylene method, as well as the project for producing 30 million square meters of polyvinyl alcohol (PVA) optical films for high-generation display panels annually. The issuance of A-share stocks to specific investors this time does not constitute a major asset restructuring; it will not result in any change in the company’s control structure, nor will it cause the company’s shareholding structure to fall short of the requirements for listing.
Anhui Wanwei High-Tech Materials Co., Ltd. is a core subsidiary controlled by Wanwei Group Co., Ltd. It was established in May 1997 as a joint-stock enterprise founded solely by the former Anhui Vinylon Factory. The company went public on the Shanghai Stock Exchange in May 1997 (stock name: Anhui Wanwei Chemical Fiber Co., Ltd., stock code: 600063). Its registered address is No. 56 Chaowei Road, Chaohu City, Anhui Province, and its legal representative is Wu Fusheng. In June 2024, the registered capital was changed to 2,156,908.366 million yuan. The company mainly produces products such as polyvinyl alcohol (PVA) and high-strength, high-modulus PVA fibers. It has an annual production capacity of 310,000 tons of PVA and 35,000 tons of high-strength, high-modulus fibers; its PVA production capacity ranks first in the country. The company offers more than 40 different types of PVA products, which are organized into five distinct industrial chains. The company was originally known as Anhui Vinylon Factory, and it was renamed to its current name in 2000. In 2022, the company was granted **Enterprise Technology Center status**. The wide-width polyvinyl alcohol optical film project for TFT polarizers, developed under its leadership, broke the monopoly held by Japanese companies. In 2024, revenue from this business increased by 68.92% on a year-on-year basis, and the 7 million square meter PVA optical film production facility reached full capacity as planned. In 2023, it took the lead in establishing the Anhui Advanced Functional Film Materials Industry Innovation Institute. In the same year, it was recognized as a green factory in Anhui Province and received the Gold Award for the Hefei Mayor’s Quality Award as well as a nomination for the Anhui Provincial People’s Government Quality Award. In August 2025, the controlling shareholder, Wanwei Group, announced its intention to plan a restructuring in conjunction with other provincial-owned enterprise groups. The company expects to achieve a net profit attributable to the parent company of 340 million yuan to 420 million yuan in the first three quarters of 2025, representing a year-on-year increase of 69.81% to 109.77%. The new production facility for wide-format PVA optical films used in TFT polarizers, with an annual production capacity of 20 million square meters, is set to go into operation in the second half of 2025. In October 2025, an invention patent was granted for \"A PVA optical film for polarizing films without in-plane linear light leakage and its preparation method\". In 2023, the company was recognized by the Ministry of Industry and Information Technology as a **-level manufacturing industry champion enterprise (polyvinyl alcohol).\"
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