Tangqiao Spinning Mill was established with 176 employees and 1600 textiles spindles.
After the merger of Tangqiao Yarn-dyed Fabric Mill and Hongxing Knitting Factory, we revitalized more than 20 companies by a new round of mergers and acquisitions, laying the foundation for today’s Huafang.
Huafang Industrial Corporation was incorporated and was approved by the state administration of industry and commerce for exemption from the administrative division of the crown.
Later, Huafang Industrial Corporation was renamed as Huafang with a standardized modern enterprise system and corporate governance structure.
Huafang was successfully listed on the Shanghai Stock Exchange in 2003.
We set up Huafang Xiajin Industrial Zone in Shandong Province, China. Since then, we invested to establish industrial zone in different regions across China, including Xinjiang Uighur Autonomous Region, Henan Province, Anhui Province and so on.
Qin Daqian, CEO of Huafang, put forward the strategy of deepening “seven transformations” for the upgrading and transformation of our industry to improve our brand and technology contribution.
We have always been engaged in opening up the markets of the tertiary industry to further build a diversified textile company integrated with emerging industry, financial industry, modern service industry.