In 2001, Shanghai Funa New Rare Earth Materials Co., Ltd. was established, specializing in the production of new rare earth catalyst materials.

In 2004, Shanghai Huawen Electronic New Materials Co., Ltd. was established, with an annual output of 1,000 tons of SMA resin.

In 2013, the new SMA equipment was put into use, with an annual output of 2,000 tons and a total production capacity of 3,000 tons.

In 2015, Jiaxing Huawen Chemical Co., Ltd. was established as a wholly foreign-owned (UK) enterprise with a registered capital of 10 million U.S. dollars and a total investment of 24 million U.S. dollars.

In 2017, new factory was completed and put into operation, which owns a production capacity of 9000 tons functional resin and 600 tons of rare earth catalyst per year.