The company’s predecessor, Jingwei Textile Machinery Factory (hereinafter referred to as “Jingwei Factory”), is the largest wholly-owned subsidiary of China Textile Machinery Corporation’s more than 20 wholly-owned subsidiaries. Jingwei Factory started construction in 1951 and was completed and put into operation in 1954. It was one of the 156 key projects during the national "First Five-Year Plan" period. At that time, it was mainly engaged in the production and sales of full-scale cotton textile machinery and its special parts and spare parts.
According to the requirements of the former Textile Ministry, Jingwei Factory transferred the manufacturing of some products to factories under the former Textile Ministry, and focused on the development and manufacturing of ring spinning machines.
In 1965, Jingwei Factory began commercial production of different types of chemical fiber textile machinery, including viscose filament spinning machines and drafting and twisting machines.
In 1985, the FA502 ring spinning machine of Jingwei Factory won the National Silver Award, the highest honor for ring spinning machines in my country, issued by the National Quality Award Approval Committee.
In 1987, the FA506 ring spinning machine manufactured by Jingwei Factory was selected by the former Ministry of Textile Industry as the only ring spinning machine representing my country at the 10th International Textile Machinery Exhibition held in Paris. In the same year, Jingwei Factory was recognized as a national second-level enterprise by the Enterprise Management Steering Committee of the State Council and the Production Committee of the State Council.
In 1990, Jingwei Factory won the National Quality Management Award and the title of National First-Class Enterprise.
In 1993, Jingwei Factory was recognized as one of the 50 national user-satisfied enterprises by the China Quality Management Association, and its ring spinning machine won one of the 100 national user-satisfactory product awards; The only textile machinery manufacturer to win both awards.
In July 1995, the company was recognized as a high-tech enterprise in Taiyuan High-tech Industrial Development Zone, which allowed the company to enjoy certain preferential treatment in terms of product exports, bank loans and taxation. And enjoy the income tax rate of 15%.
On August 15, the company was approved by the National Structural Reform Commission's Ti Gaisheng [1995] No. 95 and was exclusively initiated and established by China National Textile Machinery Corporation. The company is registered in Taiyuan High-tech Industrial Development Zone, Shanxi Province. It is a high-tech enterprise with a registered capital of 220 million yuan.
The company was converted into a privately-funded company on December 14, 1995, approved by the National Restructuring Commission, Ti Gaisheng [1995] No. 148, and approved by the State Council Securities Commission, Zheng Weifa [1996] No. 2 Approved, 180.8 million H shares were issued in Hong Kong in January 1996 and listed on the Hong Kong Stock Exchange on February 2. The company's total share capital increased to 400.8 million shares. On August 15, 1995, based on the original Jingwei Textile Machinery Factory, its textile machinery production business and related assets and liabilities were reorganized and established as Jingwei Textile Machinery Co., Ltd., registered in Taiyuan High-tech Industrial Development Zone .
In January 1996, 180.8 million H shares were issued and listed on the Hong Kong Stock Exchange in February; 23 million A shares were issued in November and listed on the Shenzhen Stock Exchange in December.
In March 1996, it was approved as a foreign-invested joint-stock company and obtained the right to self-operate import and export.
In December 1996, it obtained the ISO9001-GB/T19001 quality system certification jointly conducted by the French BVQI company and the China Quality Certification Center.
In December 1996, JW-CIMS passed the national acceptance and scientific and technological achievements appraisal.
In 1997, it won the National CIMS Application Leading Enterprise Award and the National Quality and Efficiency Advanced Enterprise.
At the end of November 1999, an equal amount of asset replacement and reorganization was carried out with the major shareholder China Textile Machinery (Group) Co., Ltd., and the companies were replaced and reorganized into Zhengzhou Hongda New Textile Machinery Co., Ltd., Tianjin Hongda Textile Machinery Co., Ltd., Shenyang Hongda Textile Machinery Co., Ltd., Qingdao Hongda Textile Machinery Co., Ltd. and other four companies own 98% of the equity, becoming an enterprise group that operates across regions and has the production capacity of complete sets of cotton spinning equipment, integrating science, industry and trade.
In March 2000, the company's headquarters moved to Beijing.
In May 2000, Jingwei Textile Machinery issued an additional 180 million A shares and was listed on the Shenzhen Stock Exchange in June. In December, it passed the ISO9001-GB/T19001 quality system certification re-evaluation jointly conducted by the French BVQI company and the China Quality Certification Center.
In 2001, while the main textile machinery business achieved further development, it invested in the information industry, new materials, new technologies and investment management fields to carry out diversified development. The main operating indicators hit record highs and continued to maintain its leading position in the domestic industry.
In March 2002, it invested to acquire 95% of the equity of Changde Textile Machinery Co., Ltd. and 64.38% of Yichang Textile Machinery Co., Ltd., invested in the establishment of Wuxi Textile Technology Testing Co., Ltd. and Hongda Nonwoven Engineering Technology Co., Ltd., making the company Complete sets of cotton spinning equipment have become more complete, the field of weaving equipment has expanded, and the field of knitting equipment has also entered.
In July, Xinjiang Sales Technology Service Company was established.
In October, the Weaving Machinery Division was established to focus on the research and development, production, sales and service of looms.