China Jianlong Heavy Industry invested 1.04 billion yuan in HRB Bearing, and the old enterprise ushered in a new life!

On August 3, an announcement on the "Ruling of Harbin Bearing Reorganization Plan" quietly appeared on the National Enterprise Bankruptcy and Reorganization Information Network. This marks the successful completion of the bankruptcy reorganization of Harbin Bearing Group and its affiliated companies by Beijing Jianlong Heavy Industry Group Co., Ltd. (hereinafter referred to as Jianlong Group). This old bearing manufacturer with a glorious history of 70 years is about to open a new chapter.

Talking about the reasons for this reorganization, Zhang Zhixiang, Chairman and President of Jianlong Group, emphasized: "We must retain Heilongjiang's traditional manufacturing brand!" Harbin Bearing Group (HRB Bearing) was once the top of the three major bearing production bases in China. Its products are widely used in automobiles, machine tools, metallurgy, aerospace and other fields, including supporting bearings for the "Shenzhou" series of spacecraft and Long March 2F carrier rocket.

After Harbin Bearing Group issued an announcement to recruit strategic investors, Jianlong Group immediately took action. After a series of consultations and evaluations, it finally won the approval of the reorganization plan. On July 20, the two parties officially reached a cooperation agreement.

According to the reorganization plan, Jianlong Group plans to invest 1.04 billion yuan in the construction of Harbin Bearing Group's new base, equipment renewal and technological transformation. It is expected that by the end of 2023, the annual output value of Harbin Bearing Group will reach 2 billion yuan, the annual tax payment will exceed 100 million yuan, and the net profit target will be more than 80 million yuan; by the end of 2025, the annual output value will further increase to 3 billion yuan, the annual tax payment will increase to 180 million yuan, and the net profit target will be set at more than 280 million yuan.

Through product structure optimization and business model improvement, Harbin Bearing Group will play an industry leading role in Heilongjiang Province. Zhang Zhixiang said: "We will give full play to the advantages of raw materials, market, collaborative innovation and mechanism system, ensure that while paying taxes in accordance with the law, we will achieve win-win results with suppliers and customers, and ensure that employees' income reaches the industry-leading level."