Shandong Yongcheng New Materials Co., Ltd. was established in January 2023 and is situated within the High-end Industrial Park of the Rongcheng Economic Development Zone in Weihai, Shandong. With a registered capital of 1.21 billion RMB, the company occupies a total area of ​​908 mu. The project—dedicated to the annual production of 12,000 tons of high-performance carbon fiber—was constructed by Shandong Yongcheng New Materials Co., Ltd. with a total investment of 5 billion RMB. The company primarily engages in the manufacturing and sales of high-performance fibers and composite materials, with plans to construct six high-performance carbon fiber production lines alongside supporting precursor fiber facilities. Phase I of the project commenced construction in March 2023 and was successfully completed and commissioned in August 2024. Both Phase I production units achieved successful one-time startups, and the quality of the products produced is on par with that of peer enterprises within the industry. Based on the operational status of the commissioned project, the implementation of relevant policies, and market demand, the company is currently accelerating the commencement of subsequent project phases while simultaneously expanding its presence further down the industry value chain.

In March 2025, the trial production of the YC-11S ultra-high-performance carbon fiber was successfully completed. Its key performance indicators—including tensile strength and elastic modulus—were found to be comparable to those of internationally recognized carbon fibers of the same grade. The product successfully passed a formal technical achievement appraisal, with the results confirming that it has reached an advanced international standard.