Shandong Haiwang Chemical Co., Ltd., formerly known as the Second Salt Field in Hanting District, was founded in July 1989. After several generations of hard work, reform, and innovation, the company officially completed its restructuring in January 2003. It is now a provincial-level high-tech enterprise that integrates raw salt, bromine extraction, and bromine flame retardant synthesis. It has been ranked among the top 500 chemical enterprises in China for consecutive years, as well as a single champion enterprise in the manufacturing industry in Shandong Province, a specialized, refined, and new enterprise in Shandong Province, a top ten enterprise in the marine chemical industry in Shandong Province, a top 100 specialized chemical manufacturing enterprise in China, and a leading enterprise in the bromine chemical industry in China. It is the chairman unit of the Bromine, Iodine, and Compounds Branch of the China Inorganic Salt Association. In June 2023, it was invited to join the International Bromine Industry Association (BSEF) and became a member of the China Bromine The only member of this organization in China. The company has established bromine bases both domestically and internationally, effectively ensuring the security of the supply chain and solving the development bottleneck problems of dwindling domestic bromine resources, low import volume, untimely supply, and susceptibility to human control.