Shandong Hengyuan Petrochemical Co., Ltd. (hereinafter referred to as "SHPCL") was founded in 1970. It is a large-scale state-controlled enterprise primarily focused on petrochemicals and carbon materials, with its predecessor being Linyi County Petrochemical Plant.

In 2021, in accordance with the requirements of Shandong Province's industrial policies, SHPCL began its transformation and upgrading. And its subsidiary Hengyuan Carbon Materials Co., Ltd. (hereinafter referred to as“Hengyuan Carbon”or“the company”) was established.The company is mainly positioned for the comprehensive development of oil-based carbon materials, with the core of producing high-precision and cutting-edge market demand products such as ultra-high power graphite electrodes, negative electrode materials for power batteries, graphite products, asphalt based carbon fibers, and isostatic pressed graphite. The company focuses on extending its development towards high-end carbon materials and the carbon material industry chain to achieve high-quality, efficient, green and healthy development.