Shenyang Chemical Plant founded the company. It launched shareholding system reforms in 1992 on the approval of S.T.G. (1992) No. 34 Document issued by Shenyang Municipal Commission for Economic Restructuring; it was restructured into a joint-stock company in May 1995 in accordance with the approval of Shenyang Municipal Commission for Economic Restructuring in S.T.G. (1996) No. 107 Document, and changed its name to Shenyang Chemical Co Ltd. Upon review and approval by Z.J.F.Zi.(1997) No. 23 and Z.J.F.Zi.(1997) No.24 of China Securities Regulatory Commission, Shenyang Chemical Co Ltd. made the first initial public offering that has a face value of 1.00 yuan and offering price of 6.40 yuan per share, totaling 80 million shares. The shares were listed on the Shenzhen Stock Exchange on Feb 20, 1997 (Stock code: 000698).

It completed the split-share structure reform on March 21, 2006. The entire shareholders of non-tradable stocks pay consideration to the public shareholders by part of their shares in accordance with the consideration agreement; and each 10 shares held by public shareholders will be paid by 3.5 shares. The company's total equity remains the same only with changes in its equity structure after the split-share structure reform.

The Company’s registered address is No. 888, Shenda Road, Shenyang Economic and Technological Development Zone, registration No. 210131000002654. Shenyang Chemical Co Ltd founded Shenyang Paraffin Chemical Co Ltd on December 31, 1997 specializing in petrochemical and specialty chemicals production along with sales, and transportation equipment leasing.