The predecessor of Qingdao Guangyuanfa Group is Qingdao Waste Oil Machining Company founded in 1992 and reorganized Qingdao Guangyuanfa Group in 1994. After many years development, Guangyuanfa Group has developed into a large corporation group taking asphaltum process as the bibcock industry, owning over twenty enterprises and a Guanyuanfa landification industrial park and gathering science, industry and trade, which is trans-regional, inter-trade and trans-proprietorship. At present, the group has set foot in many industries such as chemical, imports and exports, dock, auto car refit, glasswork, reclaimable resource callback, medical treatment and meals service etc and has over four thousand and eight hundred workers with assets over four billion Yuan. In 2004, the distribution income of the group has beyond six billion Yuan.

Not only on the top of Chengyang ten strongest backbone companies many years, the group also is appraised one of “ Economy Ten Strongest Companies ” by Qingdao and on the top of Qingdao hundred strong non-government companies. In the latest whole country five hundred strong companies held by China Enterprise Confederation and China Enterprise Directors Association, Guangyuanfa group is the only one non-government company in Qingdao and advanced 65 place from 468 when entered to this year 403.

In recent years, the company won many honorary titles such as "China's Best Township Enterprise" and "Best Trustworthy Grade AAA Chinese Enterprise", and in 2000, it was named "make people rich and let Shandong wealth" by the Shandong provincial government; meanwhile, General Manager and board chairman Hu Lianglun who is provincial deputy to the people's congress was named "Outstanding Youth of Qingdao", "Model Worker of Shandong", "National Outstanding Entrepreneur" and "National Model Worker".

Abiding by the principle of "equality and mutual benefit, trustworthiness and customer first", Guangyuanfa Group sincerely welcomes friends from home and abroad to strive together and create refulgence future.