HaiKe Chemical Group Ltd was incorporated in May 2006, and its shares were admitted to trading on the Alternative Investment Market (AIM) of the London Stock Exchange in February 2007.
Shandong Hi-Tech Chemical Group Ltd was founded in 1988 as a Chinese state owned oil refining entity. The assets were converted into a Limited company in December 2000 and the expansion of the business from a refinery operator to a diversified chemical manufacturer began.
Dongying Hi-Tech Spring Chemical Co., Ltd was founded in October 2002 for the manufacture of dimethyl carbonate (DMC) and propylene glycol.
Shandong Hi-Tech Shengli Electrochemical Co., Ltd (Shengli) was acquired in March 2005 to establish the group’s position in the sodium hydroxide and chlorine market.
HaiKe’s biochemical business, Dongying Tiandong Biochemical Co., Ltd was acquired by the group in February 2005.
On February 14, 2007, HaiKe was successfully listed with London Stock Exchange and became the first Chinese chemical enterprise that goes public with AIM.
A joint venture namely Shandong Hi-Tech Ruilin Chemical Co.,Ltd was established in 2009 to boost production of refined products to 3.5 million tonnes.
HaiYuan Trading Pte Ltd,a Singapore trading branch was established to procure fuel oil from the oversea market.
Revenues reached US$1.37 billion.
HaiKe Group acquired majority stakes in Hi-Tech Shengli and Hi-Tech Spring to increase exposure to the chemical business.
Dongying Hebang Chemical Co.,Ltd was established to develop and manufacture higher margin specialty/salt chemicals.
HaiKe Chemical Group announced that certain Group companies would enter into two conditional sale and purchase agreements, the principal aim of which was to effect the divestment of the Group’s historically unprofitable assets and a significant proportion of the Group’s financial liabilities. A restructuring resulted in the divestment of all of HaiKe Chemical Group’s assets and liabilities, with the exception of Spring Chemical and HaiKe Trading. The Company continues to trade on AIM today, (AIM: HAIK).