Yip’s Chemical Holdings Limited has launched a new coatings plant in Vietnam.

Yip’s Chemical Holdings Limited has announced the official opening of its new coatings plant in Vietnam, Hang Cheung (Vietnam) Advanced Materials Company Limited, on 22 April 2026. This development represents a significant step in the group's expansion into the Southeast Asian market and the optimisation of its global supply chain. It also reinforces the company’s overseas growth strategy and enhances its ability to deliver localised services to customers across Southeast Asia and other international markets.

Establishing a presence in Haiphong’s core industrial hub to strengthen the Southeast Asian market footprint

The new Hang Cheung Vietnam plant is located in the Dinh Vu–Cat Hai Economic Zone in Haiphong City, Vietnam. Spanning over 7,200 square meters, the facility has an annual production capacity of approximately 3,000 metric tonnes. It is equipped with advanced colour-matching systems, stringent quality control processes, and a globally certified professional testing laboratory. Following the commencement of operations, the plant will primarily cater to high-end plastic coatings customers across Southeast Asia.

The new plant is expected to significantly enhance supply chain efficiency and enable a more flexible response to growing demand in Southeast Asia, thanks to the strong support from Hang Cheung Vietnam’s local technical team and the group's domestic coatings expertise. As global supply chains continue to evolve, the region has emerged as a key manufacturing hub for industrial customers. The commissioning of the facility supports the group's long-term strategy of being “rooted in China, expanding into ASEAN," while further strengthening its leading position in the high-end plastic coatings segment.

Mr. Ip Kwan, Francis, chief executive officer of Yip’s Chemical, remarked in a speech, "In the context of the current volatile and challenging global economic environment, we chose to take root in Vietnam because we firmly believe in its potential and resilience. This is not just an expansion of our production base, but an important milestone in our strategic blueprint. We will use this as a starting point to bring Yip's Chemical’s professional technology and services more directly to the Southeast Asian market.”

“Looking ahead, this plant will become the core engine for our plastic coatings development. We will continue to leverage the Group's R&D advantages in the chemical sector, dedicating ourselves to providing high-quality, eco-friendly coating solutions for toys, electronics and various consumer goods. Through localized production, we can respond to customer needs more quickly and accurately capture opportunities in a highly unpredictable market, creating new business growth points."

Mr. Chan Chuen Sang, Raymond, president of Bauhinia Advanced Materials Group, stated in a speech, "This is not only a milestone monument in the Company's overseas journey, but it also carries our steadfast dream of deepening our roots in overseas markets and making our business bigger and stronger. It highlights our original mission to always stay close to our customers and serve them with dedication and reflects our company's entrepreneurial spirit of daring to explore and make breakthroughs in the face of a complex and ever-changing market environment.”

“The Vietnam plant achieved the breakthrough from conception to completion in just one year, a result that stems from the close cooperation of all parties. In the future, the market expansion, efficient operation, and localization of the Vietnam plant will require the unity and concerted efforts of every colleague on the frontlines and in the back office. I hope everyone will always uphold our original intentions, work together with one heart and mind, face challenges head-on, seize opportunities, and together build the Vietnam plant into a benchmark for the Company's overseas business, jointly writing a wonderful answer sheet for the Company's overseas development!"

Accelerating growth by leveraging the momentum of the industrial coatings market

According to the 2025 annual results announced by Yip’s Chemical Holdings Limited, the group's coatings business demonstrated strong resilience amid challenging market conditions, supported by portfolio optimisation. The segment’s gross profit margin improved by 3.6 percentage points to 29.8%, while segment profit surged by 623% to HKD 52.2 million, driven by outstanding performance in industrial coatings. The successful commissioning of the Hang Cheung Vietnam plant in the second quarter of 2026 represents a strategic step toward achieving the Group’s performance targets, capturing growth opportunities in industrial coatings, and channelling resources to accelerate business development.

Looking ahead, Yip’s Chemical Holdings Limited remains committed to building “a leading development platform for chemical businesses.” The commissioning of its Vietnam coatings plant will enhance the Group’s competitiveness in the Southeast Asian market while improving the global operational efficiency of its China-based headquarters. The Group will also continue to pursue strategic investments and M&A opportunities with strong technological capabilities to accelerate growth and create sustainable, long-term value for shareholders and stakeholders.

Source: Yip’s Chemical