The company, formerly known as Hualu Co., Ltd., was registered in Hong Kong in October 1985. It is the first wholly-owned company established by Shandong Province overseas and is also the window company for Shandong Province’s economic and trade activities in Hong Kong. In January 2005, with the approval of the Shandong Provincial State-owned Assets Supervision and Administration Commission, Hualu Holding Group Co., Ltd. was registered and established in China to implement a parent-subsidiary management system. In July 2006, in accordance with the strategic plan of building a number of large enterprise groups determined by the Shandong Provincial Party Committee and the Provincial Government, Xinhua Lukang Group was transferred to the Hualu Group. After the transfer, Hualu Group became an important backbone enterprise in the pharmaceutical and chemical industry in Shandong Province.
Since its establishment, the company has insisted on relying on capital operations to increase its strength and relying on reform management to increase its vitality. It has successfully transformed from a trading company to a comprehensive operation group company, and developed into a company with coal chemical industry and medicine as its main businesses. It is a large enterprise group involved in international trade, real estate and other fields. It has five wholly-owned subsidiaries including Hong Kong Hualu Group, Shandong Hualu Group, Shandong Hualu Hengsheng Group, Shandong Xinhua Pharmaceutical Group, and Shandong Lukang Pharmaceutical Group. It controls three listed companies: Shandong Hualu Hengsheng Chemical Co., Ltd. (code: 600426), Shandong Xinhua Pharmaceutical Co., Ltd. (H share code: 0719, A share code: 000756), and Shandong Lukang Pharmaceutical Co., Ltd. (stock code: 600789) , with 16,000 employees and total assets of more than 20 billion yuan.
It owns the world's largest DMF (dimethylformamide) production company, Asia's largest antipyretic and analgesic drug production base, China's important nitrogen fertilizer, cardiovascular and cerebrovascular drugs, antibiotics and biopharmaceutical production base. It has 1 national technology center, 2 provincial technology centers, 2 postdoctoral research stations, more than 200 national patents, and a number of innovative achievements have won the National Management Modernization Innovation Achievement Award and the Industry Science and Technology Progress Award. Among them, the first domestic technological transformation demonstration project of large-scale nitrogen fertilizer equipment won the National Development and Reform Commission’s Important Contribution Award for Revitalizing the Equipment Manufacturing Industry and the China Petroleum and Chemical Industry Association’s Special Prize for Scientific and Technological Progress. "The project won the second prize of the 2008 National Science and Technology Progress Award.