PR100111

LIAOCHENG, China, May 26, 2023 /Xinhua=KYODO JBN/--

On May 20, at the site of the project with an annual output capacity of 5

million high-strength-steel auto wheels, a project constructed with a total

investment of 1.125 billion yuan by Shandong Zhenyuan Auto Wheel Co., Ltd.

(hereinafter referred to as the Company) in the Liaocheng High-tech Zone of

Shandong, China, the first batch of key equipment from the US and Germany were

officially in place. As workers opened the packages, installed and debugged the

equipment, the project entered the countdown before the commencement of its

operation, which is expected to be officially put into operation by the end of

this June.

The Company is a national high-tech enterprise specialized in the design, R&D,

production and sales of lightweight auto wheels in the Liaocheng High-tech

Zone, accounting for 40% of the market share of lightweight auto wheels and

securing the first place in the domestic industry.

In recent years, the Company has focused on the development trend of the

industry, continually stepped up its R&D efforts. In 2021, it managed to

develop the globally lightest 28-kg Cyclone 3.0 lightweight auto wheel, with

the weight of a single wheel reduced by 18 kg. In 2023, it managed to develop

integrated lightweight, high-bearing and inner wheel-free wheel. A single wheel

of this kind can bear a weight of 10 tons, which has addressed the problems of

existing wheels in today's market in terms of safety, reliability, bearing

capacity and replacement frequency. During January - April of 2023, the

Company's orders had doubled, with a sales amount exceeding 150 million yuan,

up 200% year on year.

The development path of the Company can be considered as an epitome of the

Liaocheng High-tech Zone's efforts in implementing new development concepts,

fostering the characteristic industry of high-end equipment and promoting the

green, low-carbon and high-quality development. According to the Administration

Committee of the Liaocheng High-tech Zone, in recent years, the Liaocheng

High-tech Zone has focused on its functional positioning with an aim to

accelerate the construction of a strong zone of manufacture and highlight the

development advantages and characteristics of the High-tech Zone's

manufacturing industry. It has focused on the segmented industrial chains such

as textile machinery, automobile and basic parts and components industries so

as to improve the development quality and level, promote the development of the

high-end equipment industry towards intelligence and greenness, and foster an

industrial cluster of special equipment manufacturing, with an aim to achieve a

business revenue of 7 billion yuan by 2025.

Source: The Administration Committee of the Liaocheng High-tech Zone

Image Attachments Links:

   Link: https://iop.asianetnews.net/view-attachment?attach-id=440949

   Caption: The lightweight auto wheel workshop at the Liaocheng High-tech Zone

   Link: https://iop.asianetnews.net/view-attachment?attach-id=440953

   Caption: The lightweight auto wheel produced by Shandong Zhenyuan Auto Wheel Co., Ltd.