Changsha, Hunan, China
www.xitlgroup.cn

PRIVATE COMPANY; YEAR ESTABLISHED: 1950

REVENUE: $639.4 million

MARKETS SERVED

General industrial coatings, Architectural coatings, Powder coatings

KEY EXECUTIVES:

Xu Yin, chairman of the board; board members: Wang Bing, Xie Wei, Gao Shangju; Shoubing Liu, technical director.

Xiangjiang Paint Group has more than 2,200 employees. The company has four facilities throughout China. 98.3% of the company’s sales are general industrial coatings, architectural 1.7% and powder coatings 1%. The company generated revenue of $639.4 million in 2021.

Success Story:

In 2021 China increased the intensity of safety and environmental protection, it promoted the transformation and upgrading of enterprises, adjusted the product structure, accelerated the transformation of green coatings in the paint industry and at the same time brought about a substantial increase in cost. Competition intensified. Due to the continuation of COVID-19, a large number of small and medium-sized enterprises experienced difficulties. In the face of the industry situation, the company, through increasing R&D investment in waterborne coatings, high solids coatings  and powder coatings, launched a number of new products, having a positive impact on the market.