On the end of April 2020, Shandong Shenli Rigging Co., Ltd. collaborate with Guangdong Jinggon Intelligence and China United Engineering Corporation on a new green factory. The three entities invest 1.13 billion (CNY) on this significant project, which is about a new green factory. The annual revenue is expected to reach to 1.7 billion (CNY), profit and tax reach to 360 million (CNY). Among the revenue, gross profit is expected to reach to 190 million (CNY) and tax to 170 million (CNY).
This is an significant plan for Shandong Shenli Rigging, as the company aims to response to Chinese government’s ‘Made in China 2025’ strategic plan, and contribute themselves to the manufacturing of high value products and services. In 2019, Shandong Shenli Rigging submitted application with a critical project named “A new green factory for intelligent manufacturing of grade 80 and higher grade rigging, hardware, and rail transit’s key accessories” for the program of building high-tech and high value product zone, which is led by Shandong Province.
This critical project got approval later in February 2020 by the local government and listed on “Significant projects 2020 led by Government of Shandong Province”. To make further action, Shandong Shenli Rigging partnered with Guangdong Jinggon Intelligence and China United Engineering Corporation, investing 1.13 billion (CNY) to build up a new green factory.