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DEVELOPMENT COURSE

        Introduction to Ningbo Jintian Copper Group Ltd.
        This company was setup in October, 1986, on the base of former Miaoshan Grinding Wheel Factory, which employed only 8 workers in a few workshops that totaled only an asset of 120,000 RMB yuan and was on the edge of bankruptcy. That was the situation when Mr. Lou Guoqiang, currently the board chairman and chief executive and then a deputy director of the industrial office of the Miaoshan Township, took over the factory and began his reform.
        In the February, 1987, Mr. Lou Guoqiang, then the director of the factory transferred the former grinding wheel factory into a copper smelting factory and produced its first products (copper sticks H59, H62), from which the factory yielded an annual production totaling 798,500 RMB yuan. In 1991, the factory was renamed as Ningbo No. 1 Copper Stick factory and the annual production totals 22.68 million RMB yuan and the profit reached 1.5317 million yuan. In 1992, the factory developed copperplate products which yielded an annual production of 54.97 million RMB yuan and a profit of 2.852 million yuan. In June, 1993, a Non-magnetic copper product line was introduced into the factory to produce brass wires which were in high demand at that time. This yielded a yearly production of 1200 million yuan and an annual profit of 632 million yuan. In the same year, the factory was expanded into Ningbo Jintian Copper Corporation. In 1994, 10 million yuan was invested in a new smelting factory and the development of electrolytic copper products, which realized an annual production of 288 million yuan and an annual profit of 10.42 million yuan. In 1995, the corporation was reconstructed as Ningbo Jintian Group. and a new electric material company was set up under the group. In 1997, Ningbo Stainless Copper Factory was set up and in 1998 Ningbo Jiekelong Valve Company was set up, both under the supervision of the group.
        In December, 2000, the company was restructured and renamed as Ningbo Jintian Copper Group Ltd. In the year that followed, Ningbo Ketian Magnetic Products Ltd., Ningbo Jiekelong Water Meter Company, Ningbo Jiangbei Wulian Metal Recycling Ltd. were established. Up to date, Ningbo Jintian Copper Group Ltd. has grown into a national giant industrial enterprise.

 
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