Wengfu is one of the five major phosphate fertilizer bases built by the state during the "Eighth Five-Year Plan" and "Ninth Five-Year Plan" period to safeguard national food security and fill the gap of domestic high-concentration phosphate and compound fertilizer. Construction started in 1990, completed and put into production in 2001, and the reform of debt-to-equity swap in 2008 was renamed by Guizhou Hongfu Industrial Development Corporation. By the end of 2018, the total assets were nearly 40 billion yuan. There are 52 second- and third-level wholly-owned, holding or actual control companies with more than 7,500 employees. The company's shareholders include China Cinda Asset Management Co., Ltd., Guizhou Provincial People's Government State-owned Assets Supervision and Administration Commission, China Development and Investment Group Co., Ltd., China Construction Bank Co., Ltd., and Guizhou State-owned Assets Management Co., Ltd. In 2018, the company achieved an operating income of over 40 billion yuan, completed a total industrial output value of over 14 billion yuan, and realized profits and taxes of 1.5 billion yuan. A leader in the development of quality and efficiency for the transformation of the same industry across the country.Yufu has 32 phosphate fertilizer, phosphorus chemical, fluorine iodine chemical and other products. It has a reserve of 360 million tons of phosphate reserves. It has an annual output of 7.65 million tons of phosphate rock, 1.85 million tons of phosphoric acid and 4 million tons of phosphate compound fertilizer. The production capacity of 1.52 million tons of chemical products, the annual transportation capacity of self-provided railway special lines exceeds 11 million tons.