Recently, in Jining, Shandong, the smart factory project of Hengwang Group is progressing intensively and systematically. The smart factory covers an area of 200,000 square meters, with a total investment of CNY 1.01 billion, and is expected to be completed and start production in October 2024. The implementation of this project aims to create a high-end equipment manufacturing smart factory that integrates automation and digital technologies to enhance production efficiency and product quality, accelerating the company's digital transformation. It is anticipated that once the factory is operational, the annual output value could reach CNY 3 billion.

Hengwang Group, a company dedicated to the R & D and manufacturing of construction machinery, currently has over 1,000 employees. With bulldozers and excavators as its main products, it has established an extensive sales network in the global market. The construction and future operation of the smart factory will bring more efficient and intelligent products and services to Hengwang Group, meeting the demands of customers worldwide.

The construction and future operation of the smart factory are expected to create approximately 1,500 job positions, providing a significant number of employment opportunities for the local area. Additionally, it will stimulate the development of related industrial chains. Hengwang will continue to make a positive contribution to the socio-economic development of the local and surrounding regions.