The 25th Shenzhen (China) International Small Motor, Electric Machinery, Magnetic Materials & Coil Winding Exhibition
Exhibit: http://e.zbase.cn/50e3726e
Visit: http://e.zbase.cn/cb37d8db

Founded in 1984, Wolong Group has weathered decades of ups and downs and has gradually matured into a stable, steadily growing enterprise. It now controls three listed companies and 57 wholly-owned and holding subsidiaries, employs 18,000 people, and has been ranked among China's Top 500 Enterprises for many consecutive years. It has become a multinational corporation focused on electric motors and drive control, with 42 manufacturing bases and five major R&D centers across Asia, Europe, and the Americas, forming a global R&D, manufacturing, sales, and service network spanning more than 100 countries. As a leading player and "chain-owner" enterprise in China's motor industry, Wolong is currently striving toward its strategic goal of becoming the "Global No. 1 in Electric Motors."

Building a Multi-Billion-Dollar Motor "Empire" from a 140,000-Yuan Startup

In 1975, having just graduated from high school, Chen Jiancheng began working as a carpenter alongside his father. His father had once served as director of a local wood products factory and later founded a carpenters' cooperative, making him a well-known figure in the area. Had he followed this path, Chen Jiancheng would have inherited the family trade and continued working with wood.

But a person's destiny is often shaped by their character. A scholar at heart, Chen was a bright child who always ranked first in his grade. His uncle, a teachers' college graduate with a good education who had worked as an accountant and later became executive vice director of the Lianfeng Fiberglass Factory, exerted a strong influence on him.

When China reinstated the national college entrance examination in 1977, Chen began preparing for it, but was not successful. After failing the exam, he did not return to carpentry. Instead, he followed his uncle into the fiberglass factory and became a technician. Over seven years at the factory, he worked his way up to deputy director in charge of technology. Having reached a certain height in his career, Chen saw the opportunities brought by China's reform and opening-up — and chose to resign and start his own business.

In 1984, Chen Jiancheng pooled 140,000 yuan with five coworkers, contracted an old factory building in Haoba Village, Shangyu County, and established the Shangyu County Multi-Speed Micro Motor Factory. A year later, the factory produced its first-generation product — the JW series motors. Motor products were scarce on the market at the time, and the factory's motors were warmly received, with demand far exceeding supply. Ten years after its founding, the factory was restructured into Zhejiang Wolong Group Company.

Subsequent development proved that motors were an excellent track, and Wolong encountered almost no major setbacks along the way. By the time it went public in 2002, Wolong had already established leading positions in multiple fields, including air-conditioner motors, motorcycle micro-motors, and intelligent brushless DC motors for electric vehicles.

After its listing, backed by a strong financing advantage, Wolong embarked on a "buy, buy, buy" spree, spending a cumulative total of more than 10 billion yuan on dozens of acquisitions. Shortly after going public, Wolong announced the acquisitions of Shaoxing Dengta Battery and Hubei Electric Motor Factory. It then went on to acquire, domestically, the Yinchuan Transformer Factory, the Beijing Transformer Factory, the Yantai Dongyuan Transformer Factory, Qingjiang Electric Manufacturing, Zhangqiu Haier Motor, Nanyang Explosion Protection Group, and the Rongxin variable-frequency drive business in Anshan, among other projects.

Overseas, Wolong successfully acquired ATB Group of Austria — one of Europe's three largest motor manufacturers — SIR, an Italian robotics integration and application manufacturer; OLI S.p.A., the world's largest vibration motor company; and the industrial motor business of General Electric (GE) of the United States, accelerating its global market layout.

Today, Wolong Electric Group ranks No. 2 globally in high-voltage motors and No. 4 in low-voltage motors, and is setting its sights on the global No. 1 spot.

After forty years of development, Wolong now controls three listed companies and 57 wholly-owned and holding subsidiaries, employs 18,000 people, and has been ranked among China's Top 500 Enterprises for many consecutive years. With 42 manufacturing bases and five major R&D centers across Asia, Europe, and the Americas, it has become a multinational corporation with electric motors and drive control as its core business.

Chen Jiancheng encouraged all Wolong employees to continue upholding the corporate spirit of "Integrity · Harmony · Innovation," to always keep in mind the mission of becoming the "Global No. 1 in Electric Motors," and — guided by the "Three Growth Curves" strategy — to accelerate product mix adjustment and industrial transformation, going full speed ahead toward the goal of building a "100-Billion-Yuan Wolong" during the 15th Five-Year Plan period.

Source: Motor World (电机通)