30 years' Turbulence for Zhongli Group,a top 500 company built on RMB5000

published: 2018-08-06 9:55 | editor: | category: News

In 1988, China was awakened, its ancient glories and mighty power overshadowed by dust. Roaring and struggling, this exhausted sleeping lion remained vibrant and persevered, having seen much of the changes in human life.

1988 is the beginning of the first ten years of China’s opening and reform. This year saw Wang baixing, with RMB 5000 out of his own pocket, establish Tangshi cable factory in Changshu city, Jiangsu province.30 years of continuous innovation and upgrading helped charted Zhongli’s business map covering five high-end manufacturing industries, namely, special wire/cable and fiber optic cable, new energy PV industrial chain, new polymer material, military electronics and titanium 3D metallic printing. Zhongli Sci-Tech Group (herein referred to as Zhongli) had grown up to be a national key high-tech group, a top 500 private company in China and a top ten independent innovation enterprise.

Every leaping forward was closely related to product innovation.

In 1994, Zhongli’s first take-off came with the successful development of flame-retardant flexible cable, the sales of which reached 10 million yuan that year. Fire-resistant, low-smoke and halogen-free flexible cable re-developed in 1996 filled the domestic gaps and obtained 15 national invention patents. This market hit held 70% ofChina’s domestic market share.

Since then, Zhongli had successively launched new products such as communication optical cable, special flexible optical cable, digital internal shielding photoelectric cable for railway, new polymer material, automobile airbag and magnesium alloy parts, obtaining 23 national patents and 6 invention patents in total.

Wang Baixing once commented that continuously developing new products to tailor to the special industrial needs is the key to Zhongli’s achievements today.

From an A-share market beginner to an innovation PV leader

Since its birth, it took Wang Baixing 21 years to land Zhongli in A share market in 2009, while it took Zhongli only 8 years to rise to an industrial lead from a beginner in PV industry. Capital and industrial momentum are the key driving forces shaping Wang’s business empire.

In 2010, Zhongli founded Jiangsu Talesun Power Technology Company (later renamed Suzhou Talesun Solar  Technology Company) to officially start expansion into PV industry. Having operated for just less than half a year, Zhongli encountered the down times in PV industry when overcapacity resulted in price slump. At that time, global PV manufacturing was running under deficit in a whole.

Wang Baixing did not retreat despite the fast declining. He was a firm believer in the future of PV industry amid China’s significant progress. While generally not considered a wise choice then, he took immediate action to build PV power plants in western regions, topping 700MW in 2012. By 2014, Zhongli had already developed over 2GW capacities when the rush for PV power plants just began.