Sitong Group Company is a well-known private technology enterprise in China and an important force in the electronic information industry. In May 1984, several scientific and technical personnel who borrowed 20,000 yuan to start a business established Beijing Sitong Emerging Industries Development Company. In 1986, Beijing Stone Group Company was established with a registered capital of 100 million yuan, which has been maintained to this day. Basic introduction Company name: Sitong Group Company Founded: 1986 Business scope: Electronic information industry Company nature: Private technology enterprise Predecessor: Beijing Sitong Emerging Industry Development Company Registered capital: 100 million yuan Company profile, second venture, Company initiatives, Sitong story, company scale, technology wave, company profile Sitong achieved sales revenue of 9 million yuan in the first year after its establishment, exceeded 100 million yuan in 1986, 1 billion yuan in 1988, and reached 1.3 billion yuan in 1990 , in 1997 it was nearly 6.6 billion yuan. By the end of 1999, the cumulative sales revenue in 15 years had reached nearly 40.9 billion yuan, with profits and taxes of 1.58 billion yuan. In 1986, the company's net assets reached 10 million yuan, in 1989 it exceeded 90 million yuan, in 1994 it was 600 million yuan, and in 1997 it rose to 1.8 billion yuan. Second Entrepreneurship In the 1990s, in compliance with the new situation of the comprehensive transition from planned economy to socialist market economy and the increasing integration of the global economy, Sitong took the lead in raising the banner of "Second Entrepreneurship". Focusing on the goals of "demutualization, groupization, industrialization, and internationalization", a series of important corporate measures were implemented to integrate several of its electronic companies and form "Sitong Electronics" to be listed on the Hong Kong Stock Exchange, becoming the first company listed on the Hong Kong Stock Exchange. As a private IT company listed in Hong Kong, Sitong's activity stage has expanded from domestic to overseas. We have formulated the strategic policy of "Walking with Giants" and established joint ventures with a large number of well-known multinational companies to build large-scale production bases. These include China's largest lighting appliance company, a joint venture with Japan's Panasonic Electric, a large-scale integrated circuit company with Japan's Mitsubishi Electric, a large-scale system integration company with the United States' TRW, and so on. From the initial operation of a single variety, it has shifted to the development and production of various products such as printers and cash registers, especially special electronic products for users in various departments and industries of the national economy, entering the main battlefield of the informatization transformation of the national economy. Establish a financial industry to promote mutual promotion among operations, industry, and finance to accelerate development. Sitong's second venture achieved great success, which basically enabled the company to get rid of the situation of single product and fragile industry, and opened up broad channels for international cooperation. Sitong Story Company Scale The company has more than 50 wholly-owned and joint ventures, 4 overseas branches, and more than 3,000 employees. Since the 1980s, among the endless number of Chinese enterprises that have developed high and new technologies in a private-owned model, Sitong has grown from small to large and has been working tirelessly to this day. Sitong is recognized as one of the most outstanding representatives. The path that Sitong has traveled over the past 16 years is a road of reform and opening up. The innovative spirit that Sitong has remained unchanged over the past 16 years represents the soul of China's private technology enterprises. Technology Wave In May 1984, Sitong was born in Zhongguancun, where the world's new technology wave and China's reform torrent converge. Without a penny from the government and without the support of the National Scientific Research Institute, a group of scientific and technical personnel who resigned from public office borrowed 20,000 yuan to set up a company. Based on the principle of "self-raising funds, free combination, independent operation, and taking responsibility for profits and losses", we have achieved brilliance in the early stage with our innovative spirit of courage to explore and pioneering. In the 1980s, Sitong was mainly committed to the development and operation of office automation products. In 1984, when the company was founded, the M2024 printer was redeveloped and put on the market, achieving great success. In 1985, the secondary development of the M1570 color printer was completed and it quickly occupied the market with significant benefits. In 1986, the first-generation MS series word processor developed by Stone Group, MS-2400, was born.

Later, taking the sales of MS series word processors as an opportunity, we began to establish a marketing service network all over China, which greatly promoted the development of Sitong. The domestic market share of Sitong word processors reached more than 85%, which provided a good foundation for China's office automation industry. made significant contributions to progress. Supported by this flagship product, Sitong developed rapidly at an annual growth rate of 300 in the 1980s