Xinxing Cathay International Group Co Ltd

Xinxing Cathay International Group Co Ltd, the former Xinxing Ductile Iron Pipes Co Ltd, is reorganized, reconstructed and unhooked from previous production department and subordinate enterprises and institutions of the General Logistics Department of the PLA. As a current large central state-owned enterprise under the supervision of the State-owned Assets Supervision and Administration Commission of the State Council in China (SASAC), the group is a large-scale solely state-owned company dealing with assets management, capital operation and production management. Its headquarter is located in Beijing CBD, Fortune Plaza.

Xinxing Cathay International Group is engaged in main businesses including metal smelting and processing, textile and garment, and special equipment making. Its main products include ductile cast iron pipes, pipe fittings, steel gratings, steel, engineering machineries, special and dedicated vehicle modification, oil equipment, textile, garments, dying and finishing, leather and leather shoes, rubber products, and equipment.

The group is a fabrication, research and development foundation for ductile cast iron pipes, whose comprehensive strength and technical level is in leading position and output and sale volume is the highest in the world. It is a large production, research and development base for steel grating, logistics munitions, occupation wears, professional shoes and boots as well as large production, research and development base for high end textile products in China. It is also a main purchase and processing base for foreign military munitions market, and with military equipment export authority. It possesses state level enterprise technical center and military supplies test center, state-level enterprise post-doctoral research station.

As the first batch of pilot board of directors among central enterprises, Xinxing Cathay International Group adopts the supervision and control mode of “strategy monitor + finance control”, carries out three level legal person system, the group is located at the strategic investment center, the second level is positioned at the business management center, while the third level is positioned at the cost and profit center.

There are two listed companies covering 80 percent of the group’s employees and assets: Xinxing Ductile Iron Pipes Co Ltd (000778.sz) and Jihua Group Corporation Limited (601718.sh). The subordinate enterprises are located in 30 provinces (cities and autonomous regions) as well in countries as Canada, Zambia and India and so on, more than 30 of them are state-level Class I and II enterprises. The earliest member enterprises were founded in 1911, the end of Qing Dynasty.

Now, the group has about 60,000 employees, the total number of employees, scale of state-owned assets, business income and total profit are positioned at top 50 among central enterprises.