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The predecessor of the company is Siping Hongzui Steel Co., Ltd., founded in 1979. It has become a large Siping output value household with total assets of 2.6 billion, 4500 employees, annual output value of over 11 billion yuan and tax payment of 120 million yuan. Now it has formed an iron and steel complex integrating blast furnace, converter, bar, wire rod and refractory. In 2000, the company developed new grade III and grade IV high-strength steel bars in Northeast China, and the products were sold all over the country, especially in Guangzhou, Shenzhen and Shanghai. Its subsidiary company, modern heavy equipment, has developed bar and wire production lines, developed blast furnace, converter, sintering, shaft furnace, caster and other metallurgical equipment. The products are sold to more than 20 regions in China and exported to Eurasia and Africa. The enterprise can also process and manufacture B-class pressure vessels, high-power fans, large tonnage cranes, hydraulic equipment, conveying equipment, spiral plate heat exchanger, CNC machine tools and other products. The company has 8 waste resource projects, such as surplus gas, steel slag and dust removal ash, which have been recycled. In particular, the production of the green environmental protection micro powder project, which uses waste steel slag as raw material, has opened a new way for the development of circular economy.

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