Congratulations the establishment of Jiangxi Shenghua (Shanghai) Cable

Congratulations the establishment of Jiangxi Shenghua (Shanghai) Cable

On July 1, 2018, Shanghai Shenghua Cable and Jiangxi Copper Group will jointly fund and establish Jiangtong Shenghua (Shanghai) Cable Co., Ltd. and the commissioning ceremony will be held in Shanghai. The new company has an investment of 10 billion yuan and its headquarters will be located in Pudong, Shanghai. It is committed to a "100 billion-level" large-scale platform for the transformation and upgrading of the cable industry, technological innovation, and resource integration. Jiangxi Shenghua (Shanghai) Cable Co., Ltd., as a state-owned holding company (51% of Jiangxi Copper's shares and 49% of Shenghua's shares), is expected to become a win-win cooperation between Shanghai and Jiangxi, and jointly promote the high-quality development of the industry and the deepening of state-owned enterprises. The benchmark case of reform will also help to start the "Made in Shanghai" brand and promote the formation of global influence of the "Made in Shanghai" cable brand.

Jiangxi Copper Group is a large-scale United Nations state-owned enterprise integrating copper mining, selection, smelting and processing in China’s non-ferrous metal industry. Its annual output is over 1.2 million tons of copper and its annual sales revenue is more than 210 billion yuan. It is one of the top 500 companies in the world and China. One of the top 100 companies. For more than 20 years, Shanghai Shenghua Cable Group has successively acquired more than a dozen companies including Hefei Cable Factory and Harbin Cable Factory, and invested more than one billion yuan to establish more than ten high-tech enterprises in Shanghai, such as Shenghua Electric and Shenghua Special Cable. , Achieved high-quality development of the company, ranked among the top 500 Chinese manufacturing and private enterprises in China, is a high-tech enterprise and independent innovative brand enterprise in Shanghai and China’s wire and cable industry, and is also a model of Le Shang’s innovation and entrepreneurship in Shanghai; The established Jiangtong Shenghua (Shanghai) Cable Company is controlled by state-owned assets and adopts the management system of private enterprises to further promote the reform of mixed ownership on a larger scale. The goal of this strong alliance is to establish a famous brand in China's manufacturing industry and create a world-class cable manufacturing enterprise with annual sales of 100 billion yuan and a world-class international cable manufacturer.

Shanghai Shenghua Cable Group settled in Pudong, Shanghai in 1997. After nearly 30 years of development, through mergers and acquisitions and technological innovation, it has established 8 branches across the country and established more than 600 sales outlets in more than 30 provinces and cities. And it has established trade relations with more than 30 countries around the world, realizing the leap from low-voltage to high-voltage, from power cables to rubber-sheathed cables, and from traditional cables to high-tech cables. After cooperating with large state-owned enterprises, enterprises will be able to more effectively implement the open market reorganization of the cable industry, resolve excess capacity, promote supply-side structural reforms, and enhance the industry's capacity concentration and international competitiveness.
Founded in 1979, Jiangxi Copper Industry Group Co., Ltd. shoulders the glorious mission given by the state to "get rid of the backwardness of my country's copper industry and revitalize China's copper industry". Over the past 40 years, benefiting from the continuous growth of the country's economy, and also relying on its own professionalism and focus, it has become a large-scale cathode copper producer and a complete copper processing product supplier in China.
Therefore, this cooperation is a mutually beneficial and win-win cooperation for enterprises and related industries in Shanghai and Jiangxi. It is also a vivid practice for the two places to jointly promote supply-side structural reforms and promote high-quality development; I also believe that the two giants Can build a world-class cable manufacturing aircraft carrier.