On July 8, 2025, a strategically significant cooperation signing ceremony was held in Rugao, Jiangsu. Lixing Group and Jiyou Mingyu, a key enterprise under Shanghai Electric, officially reached a strategic cooperation relationship. The two parties will rely on their respective industrial advantages to carry out all-round cooperation in the field of precision parts manufacturing to promote technology upgrading and industrial chain integration.

The signing event has received high attention from the local government. Rugao Municipal Party Committee Secretary and Mayor Wang Minghao, Municipal Party Committee Standing Committee Member Wang Weihua, Deputy Mayor Sun Deli and other leaders attended and witnessed. The ceremony was presided over by Chen Minghua, Municipal Party Committee Standing Committee Member, Deputy Mayor and Secretary of the Party Working Committee of the High-tech Zone. Jiyou Mingyu Deputy General Manager Chen Hui and Lixing Group President Shi Bo signed the agreement on behalf of both parties. Ding Yuqing, as a senior executive of Jiyou Mingyu, witnessed the official launch of the cooperation.

Complementary advantages, jointly build industry high ground

Jiyou Mingyu is one of the core manufacturing platforms within the Shanghai Electric system. It has long been focused on the research and development and production of basic mechanical components. Its product lines cover multiple sub-sectors such as bearings, fasteners, and tools. The company's business covers more than 70 countries and regions around the world, and has formed a complete closed loop from technology research and development to system solutions.

Lixing Group is a representative enterprise in the field of rolling element transmission in China. It successfully landed on the Shenzhen Stock Exchange in 2015. It currently has 8 wholly-owned subsidiaries in the world, including Poland and the United States, and continues to lead the development of the industry with high-precision manufacturing technology.

The direction of cooperation is clear, focusing on three key areas

According to the agreement, the two parties will take "mutual benefit and win-win" as the basic principle and carry out in-depth cooperation around the following three dimensions:

Industrial linkage: Focusing on key components of the transmission system, combined with the development trend of new energy and high-end equipment, strengthen the upstream and downstream coordination of the industrial chain to meet the supporting needs of key national industries.

Joint technical research: Open R&D resources, build a technical platform, focus on breaking through key technical bottlenecks such as new material application and advanced process optimization, and accelerate the process of achievement transformation.

Market synergy expansion: Integrate the overseas channel resources of both parties, focus on the high-end markets in Europe and the United States, explore the path of joint brand promotion, and enhance the influence and market share in the international market.

Seek common development and create a new model of Chinese smart manufacturing

Jiyou Mingyu Executive Director Ding Yuqing said: "This cooperation will further enhance our collaborative capabilities in the industrial chain. Through resource integration and technological complementarity, we will jointly enhance the competitiveness of Chinese manufacturing in the global market."

Lixing Group President Shi Bo believes: "This is a deep integration for the future. We look forward to achieving greater collaboration with Jiyou Mingyu in the construction of green manufacturing systems, standard setting and global layout, and promote the entire industry to a high-quality development stage."

The Rugao Municipal Government highly supports this cooperation and plans to establish a special industrial chain fund to coordinate policies, talents and technical resources to help enterprises make substantial progress in core technology research and development, market expansion, standard construction, etc., and strive to create a benchmark case for the development of advanced manufacturing in the Yangtze River Delta region.