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- In order to achieve high-quality development of state-owned assets and enterprises, Huayi Group's core assets are listed as a whole, opening a new chapter of development.
- Formally renamed as Shanghai Huayi Fine Chemical Co., Ltd.
- The paint business integrates Zhenhua Paint Factory, Xinhua Resin Factory, Shanghai Paint Factory, etc., and invests in the establishment of Shanghai Huayi Coating Co., Ltd.. in Jinshan, Shanghai.
- The pigment business has developed across cities and jointly invested to establish Huayi Yipin（Yixing）Performance Pigment Co., Ltd..
- The company built a group fine chemical platform under the unified deployment of Huayi Group.
- Established joint ventures with Fujikura Kasei Co., Ltd. and Jidong Trading Co., Ltd._[日本极东贸易株式会社] in Tianjin, Foshan, and Shanghai, specializing in OEM high-performance coatings for automobiles.
- Jointly established BASF Shanghai Coatings Co., Ltd. with BASF Germany, specializing in OEM automotive coatings, automotive component coatings, etc.
- Jointly established Shanghai International Paint Co., Ltd. with the British International Paint Company, specializing in ship and marine coatings.
- Transformed into a corporate company, named Shanghai Coatings Company, forming a modern coatings enterprise integrating production and sales.
- Shanghai Coatings Industry Company was established to implement specialized production.
- Aolima Chemical Company (predecessor of Shanghai Paint Factory) and China Weixin Paint and Pigment Factory (predecessor of Shanghai Iron Oxide Pigment Factory) were born
- One of the earliest paint trademarks in China, "Feihu_[译者：Flying Tiger]", was born.
- Ethnic industrialist Shao Jinqing founded Zhenhua Industrial Company (predecessor of Zhenhua Paint Factory)
- Ruan Ainan and Zhou Yuantai founded Kailin Paint and Pigment Factory (the predecessor of Shanghai Kailin Paint Factory), which is known as the "first" paint enterprise in China.
