Nanyang Huayi Power Equipment Co., Ltd. is a joint-stock enterprise jointly established by the Electric Power Bureau of Nanyang and the former Huayi Electrical Instrument Sets Co., Ltd. The company is located in Longsheng Industrial Park in Nanyang, a famous city of ancient culture and history in the Central Plains. Situated to the south of the 312 National Highway (1051km away), it enjoys very convenient transportation. The company was established based on the accumulation of more than 20 years of production experience, for the purpose of meeting the needs of new developments and realizing the group-oriented operation. It is a large-scale high-tech enterprise integrating design, development, research, production and sales. The company occupies an area of 38,000 square meters, with a floor area of 28,000 square meters. It has fixed assets of 160 million yuan and is equipped with a diverse workforce specializing in wires and cables, instrumentation, high and low voltage switchgear, transformers, iron towers, and other fields. The company is equipped with advanced cable production and testing equipment.
With financial turmoil, rising prices, the depreciation of the renminbi, and the speedup of marketization, all walks of life are facing challenges and tests. Therefore, we must actively respond to the new situations of talent competition in the future and further establish the new talent concept that human resources are the primary resource; high-tech and high-value products and new energies are the inevitable trend of future development. At the same time, the quality of team leaders is the key to success for a company. A professional and stable talent team concerns the performance of the enterprise. It is crucial to be people-oriented, and improve the quality of the company's talents. In order to exhibit the rigorous, truth-seeking and pragmatic work style of Huayi people, and our ability to operate healthily, effectively and efficiently, we have set force sound management objectives to create a bright future.
Established on March 12, 2004, Nanyang Huayi complies with national laws and regulations, national industrial policies, and corporate management systems. While safeguarding the company's interests, we develop markets and fulfill the tasks and objectives of the sales company. In order to create customer-oriented, pragmatic and enterprising management system and atmosphere, and reflect the spirit of teamwork, and in coordination with the development of the company and the full implementation of the company's rules and regulations, we have developed the mechanism to motivate the team so as to achieve the harmonization and coordination of the responsibilities, rights and interests of subordinating individuals of the team. So far, the company has matured in management, R&D, technology and talents. In the process of development, the company has been establishing its brand and image. Our company has become the largest manufacturer of wires and cables, high-pressure cross-linking products and instrumentation in Southwest Henan, and has developed into a well-known enterprise in the power industry in Henan Province and a star enterprise in Nanyang. However, Huayi people will not feel complacent about the current development speed, and will not stop the steps of advancement. We are develop the company's vast market with the mindset of leaps and bounds, and our depicting of the company's beautiful development blueprint is the embodiment of such a mindset. It is also the start point of a beautiful blueprint.
For the sake of better development, the company decided to implement share reform in 2017, to allow all employees of Nanyang Huayi Power Equipment Co., Ltd. to own the shares and become the owner of the company, jointly developing and strengthening Nanyang Huayi. In August 2017, we invested in the construction of a project of producing environmentally friendly halogen-free low-smoke refractory 1kV wires and cables with an annual output of 5,500 kilometers. The total investment of the project is estimated to be 50 million yuan. While making use of part of the existing land, we have also constructed a new R&D center office building. The office and R&D center, the production laboratories, the exhibition center and other facilities added up to a total of 5,000 square meters, to form the 5,500 km/year production capacity of environmentally friendly halogen-free low-smoke refractory 1kV wires and cables. We plan to purchase a total of 14 sets of equipment including 1 set of wire drawing machine, 2 sets of stranding machines, 1 set of fork winch, 3 sets of extrusion units and 1 set of related halogen-free low-smoke materials production equipment, and environmental protection treatment equipment and testing equipment. The main structure of the R&D office building has been completed, and the procurement and installation of the wire drawing machine and the two stranding machines have been fulfilled; at the same time, the products have been pre-developed and trial-produced. After the completion of the project, it is estimated that the annual output value will increase by 65.8 million yuan and the profit and tax will be 3.6 million yuan. In the meantime, the company has developed the five-year plan for the future development, to realize the strategy goal of diversified development. In March 2017, Henan Huayi Power Sales Co., Ltd. was established, which is planned to be put into normal run in June 2017, with an annual profits and taxes up to 20 million yuan. Shaanxi Huayi Energy Industry Co., Ltd. was established in April 2017, which is planned to be put into operation in May of 2017, with an annual profits and taxes of 30 million yuan. In accordance with the requirements of its development planning, the company is to realize the group oriented operation mode and enter the international market in 2019, to serve and repay society, and repay customers with high-quality services.