Yu Wei, Secretary of the Changshu Municipal Party Committee, witnessed the signing and met with Lin Mao, Chairman of C&D Inc., and his delegation.
During the meeting, Yu Wei extended a warm welcome to Lin Mao and his delegation, and expressed gratitude to C&D Inc. for its support to Changshu’s development. He noted that Changshu boasts a profound history and culture, an excellent ecological environment and a solid industrial foundation, with its comprehensive strength ranking fourth among China’s top 100 counties.
At present, Changshu is thoroughly studying and implementing the guiding principles of the 20th National Congress of the Communist Party of China and the Second and Third Plenary Sessions of the 20th Central Committee, developing new quality productive forces in line with local conditions, accelerating the fostering of large enterprises and the growth of specialized and sophisticated enterprises, and fostering new drivers and strengths for development.
C&D Inc. played an important role in the restructuring of Zhongli Group. Yu Wei hoped that C&D Inc. would take this cooperation as an opportunity to further expand areas of cooperation, accelerate its integration into Changshu’s development layout, achieve a breakthrough from “scattered achievements” to “systematic layout” at an early date, and write a new chapter of win-win cooperation at a higher level. The Changshu Municipal Party Committee and Municipal Government will, as always, provide attentive and thoughtful services to enable enterprises to develop and grow in Changshu with confidence and peace of mind.
After briefly introducing the development of C&D Inc.’s business sectors including supply chain and real estate, Lin Mao stated that C&D Inc. will further leverage its industrial chain advantages, accelerate the pace of coordinated development with Changshu, and support local economic and social development through high-quality and all-round cooperation.
Listed on the Shanghai Stock Exchange in 1998, Xiamen C&D Inc. has maintained an average annual growth rate of nearly 30% in major financial indicators such as operating income, net profit and net assets for many consecutive years. Its controlling shareholder is Xiamen C&D Group Co., Ltd., which ranked 85th on the 2024 Fortune Global 500 list.
C&D Inc. has a strong presence in the new energy and cable industries. Its newly established subsidiary in Changshu, Changshu Guangsheng, has become the largest shareholder and controlling shareholder of Zhongli Group. With the implementation of the restructuring plan, C&D Inc. will rely on its extensive international trade experience and strong capital strength to assist Zhongli Group in integrating industrial resources, supplementing operating capital, upgrading its dual main businesses of cables and photovoltaics, and comprehensively improving its development quality and sustainable operation capacity.
At present, the restructuring plan of Zhongli Group has been successfully implemented and its shares have resumed trading.
Municipal leaders Wang Jianguo and Xia Junyong attended the signing ceremony and the meeting.
