In 1997, New Hope Group founded Chengdu Huarong Chemical Co., Ltd., and entered the chemical industry. Since this time, New Hope Chemical Industry and Resources has built is platform around potassium engineering, phosphorus engineering and coal engineering.
New Hope Chemical Investment Co., Ltd., founded in September, 2006, is a group corporation affiliated with New Hope Group and specialised in production and investment management of phosphorus engineering, chlor-alkali engineering and potassium engineering.
It directly controls 9 affiliated companies, has share interests in 14 other companies and owns one listed company: Hebei Baoshuo Co., Ltd. Its majority held subsidiaries include: Yunnan Xinlong Mineral Animal Feed Co., Ltd., Gansu Xinchuan Fertilizers Co., Ltd., Sichuan Xinxing Chemical Co., Ltd., Yunnan Xinxiang Chemical Co., Ltd., Guizhou Centennial Huading Energy Investment Co., Ltd., Guansu Xinchuan Chemical, Co., Ltd., Chengdu Huarong Chemical Co., Ltd., Tianjin New Hope Packaging Materials Co., Ltd., and Shanghai Xinzengding Capital Management Co., Ltd. Among these subsidiaries Chengdu Huarong Chemical is the largest producer of high-purity potassium hydroxide, and Yunnan Xinlong is the largest calcium hydrophosphate producer in China.