Introduction to Ningbo Jintian Copper
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