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Yixing Precision Steel Tube Plant was founded in 1991 as a municipalizational collective ownership enterprise. In 1999, after the restructuring, Jiangsu Yinhuan Precision Steel Tube Co., Ltd. was established, and in 2007, Yinhuan Group Co., Ltd came into being to coordinate the management and investments of the subordinate enterprises as a whole.
Yinhuan Group is a comprehensive “reform and innovation enterprise demonstration unit" typically supported by the government of Jiangsu Province, and is also a pioneer enterprise, being the first private enterprise in Jiangsu Province cooperating with state property investments. The group has successively won the following honors: Top Ten Chinese Innovative Enterprise for Energy Equipment, Advanced Unit of China's Reform and Innovation, the National Advanced Unit of Iron and Steel, Jiangsu Innovation Demonstration Enterprise, and Wuxi City Enterprise Culture Construction Demonstration Unit.
Since its inception, Yinhuan Group has always regarded "scientific and technological innovation leading the development of enterprises, upgrade technology driving industrial transformation" as the development guideline, and established a direct assets relationship with Baosteel Group, China Guangdong Nuclear Power Group, China Huaneng Group, National Electrical Investment Group, Chinese Dongfang Electric Group, Jiangsu Province State-owned Assets Management Commission and other large-scale central enterprises or government asset management departments, which breaks the international monopoly, and saves the construction cost of about 15 billion yuan for the country. The products not only fill a number of domestic blank alternative imports to realize domestication, but are also exported to Japan, Germany and the United States and other developed countries, opening a reform and development path of "transformational development, industrial upgrading, and talent agglomeration".
There are over 20 subsidiaries of the group, involving the following industries: energy equipment, pharmaceutical and biotech, optoelectronics, photovoltaic and photothermal, environmental protection, private equity funds, electronic commerce, health care, agricultural science and technology, ecological tourism, commercial real estate development area and so forth, and business relationships are formed with over a dozen countries like the United States, Canada, Britain, France, the Netherlands, Germany, Switzerland, Australia, Japan, and India.
The development of the Group has always taken personnel development as an important measure to enhance the core competitiveness of the Group. We have now employed two Nobel Prize winners, 16 academician experts, 10 PhD returnees, and set a variety of professional institutions like Jiangsu Province Nobel Prize Winners Workstation, Postdoctoral Workstation, National-level Engineering Technology Center, Institute of Biotechnology, and the Demonstration Unit of the Integration of Production, Learning, Scientific Research and Practice.