Hengwei Group was founded in 1995 when it was simply a small machine shop. But now, it has become a large and diversified enterprise group integrating commercial manufacture (including CNC equipments and auto parts), real estate development, international trade, education investment and capital running. By 2009 end, the total assets of the group reached 4 billion yuan, and annual sales value reached 4.2 billion yuan. Since 2005, the group has been in the front list of Top 100 enterprises in Ningbo, and won national, provincial and municipal economic and technological prizes in succession. Now it holds more than 30 subsidiaries engaged in manufacturing, R&D, real estate, trading and investment mainly in state-encouraged manufacturing industries and modern service industries.

Hengwei Group has set up the enterprise framework with one center and two parks, which are respectively the 20,000-sq.m. Hengwei Group Headquarters focused on strategic management, technological integration and commercial service, and the Hengwei Industrial Park and Hengwei Shenzhou Educational Park.

Hengwei Group has now entered its high end brand development period. From R&D, processing, fabrication to domestic selling and foreign trading, the advanced integration of mechanical, hydraulic and electrical techniques and the complete industrial chain have been formed. The CNC mechanical products and plastic injection machine of Hengwei brand are famous-brand products in Ningbo, and have reached national and international technical and quality standards. Hengwei wheel is influential in North America. Many house property projects developed by Hengwei Group, such as the “East Bay Residence”, “Hengwei Building, “Hengwei Monarch Park”, are representing the high-end branding buildings.  

In 2010, Hengwei Group initiated its “secondary development” strategy. By compiling and implementing the strategic development planning that will transform the mode of economic development, and improving and renovating the five industrial systems of “high precision machine, modern real estate, international trade, model education and strategic investment”, Hengwei Group strives to build up a “10B Hengwei”, “multi-business Hengwei”, “valuable Hengwei” and “international Hengwei”.