Zhongqi Holding Group Co., Ltd. can be traced back to Jiao County Construction Engineering Company established in 1967.

With the changes of the times, after the restructuring of state-owned enterprises in September 1999, Qingdao Jiaozhou Construction Group Co., Ltd. was founded.

In July 2010, Qingdao Jiaozhou Construction Group Co., Ltd. initiated the establishment of Zhongqi Holding Group Co., Ltd.

Therefore, Zhongqi Holding Group is a state-owned enterprise.

When carrying out the restructuring of state-owned enterprises, in order to safeguard the interests of enterprise employees, the following points must be achieved: (1) The enterprise restructuring plan must be submitted to the enterprise's employee representative conference or workers' conference for review, and the opinions of employees must be fully listened to.

In particular, the employee resettlement plan needs to be reviewed and approved by the enterprise's employee congress or workers' conference before it can be implemented.

Regarding issues such as employee labor relations, social security and retiree payment, enterprises undergoing restructuring need to strictly follow relevant policies.

(2) The economic compensation and subsidies for employees withdrawn by the enterprise during restructuring shall be paid to employees in one lump sum in the form of cash, or an employee security fund shall be established in the form of assets.

(3) The legal representative of the enterprise needs to be responsible for the economic compensation withdrawn in accordance with regulations. The enterprise needs to establish a corresponding guarantee mechanism and accept the supervision of the local labor and social security bureau, labor union and other departments to ensure that the legitimate rights and interests of employees are not harmed.