The company is a large-scale key enterprise specializing in the design and manufacture of gear drives and powder metallurgy products in China, and a national high-tech enterprise. It was founded in 1960, implemented a “debt-for-equity” restructuring with the approval of the state in 2001, and was listed on the Shanghai Stock Exchange in October 2010. The main business is the production and sale of products such as gearboxes. The main products are: marine gearboxes and marine propulsion systems, construction machinery gearboxes, wind power accelerators and industrial gearboxes, automobile transfers, agricultural machinery gearboxes and drive axles, friction materials and friction plates, and elastic couplings. Corporate honors: The company has successively won honors such as “China's Top 100 Machinery Industry”, “Top Ten Innovative Enterprises at the China Military and Civilian Dual-Use Technology Application Promotion Conference”, “Outstanding Machinery Industry Product in the 40th Anniversary of Reform and Opening-up”, the 2022 Zhejiang Intellectual Property Demonstration Enterprise, and the Zhejiang Machinery Industry Science and Technology Award. The company has won honorary titles such as “National Intellectual Property Advantage Enterprise”, “Zhejiang Intellectual Property Demonstration Enterprise”, and “2023 Smart Factory” in Xiaoshan District, Hangzhou.