The company was founded in 1989 and listed on the Shanghai Stock Exchange in 1996. It is a state-owned listed company whose main business is the management of urban commercial real estate and the manufacture of new cement building materials. The company has two first-level subsidiaries, four second-level subsidiaries, and six third-level or above subsidiaries, including Ningbo City Plaza Development and Management Co., Ltd., and Fidelity New Building Materials (Mengzi) Co., Ltd. The company's main business is commercial real estate leasing, self-owned joint ventures and trusteeship business; production and sales of cement and its products; and fuel oil business. The company's commercial real estate is mainly based on Ningbo City Plaza Development and Management Co., Ltd., and the core commercial real estate project is Ningbo Tianyi Plaza. The company's cement manufacturing business is mainly based on Ningbo Kehuan New Building Materials Co., Ltd., Xinping Yingzhou Cement Co., Ltd., and Mengzi Yingzhou Cement Co., Ltd. Fuel oil business. Company honors: 2019 Ningbo Top 100 Comprehensive Enterprises, Model Workers' Home, Zhejiang Top 100 Service Enterprises, etc.
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