The company was approved by Jiangsu Yaxing Automobile Group Co., Ltd. as the main sponsor and co-sponsored by Yangzhou Jiangyang Shipbuilding Group Corporation, Yangzhou Economic and Technological Development Zone Development Corporation, Jiangsu Yangnong Chemical Group Co., Ltd., and Yangzhou Metallurgical Machinery Co., Ltd. with the approval of Jiangsu Zhengfu (1998) No. 122 of the Jiangsu Provincial People's Government. On July 16, 1999, it was approved by the China Securities Regulatory Commission's Securities Regulatory Commission [1999] No. 85, and listed and traded on the Shanghai Stock Exchange on August 31, 1999. The company's main business is R&D, manufacturing and sales of bus products. The product range covers all types of buses from 5-18 meters.
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