Shanghai Wanxiang Group Co., Ltd. is one of the worlds largest privately owned companies, and one of the most successful business conglomerates in China. The company was founded in 1969 by Lu Guanqiu and his wife, Yin Mingshan. Over the last 45 years, the Group has become a leader in the automotive industry and its other businesses, including automotive components, real estate, clean energy, auto finance, agricultural products, and healthcare services.
With more than 150,000 employees and 150 billion yuan in annual revenue, the Group has established operations in over 146 cities and 45 countries worldwide. From its automotive components business, which supplies to over 10,000 customers around the world, to its well-known Pacific Insurance Company, the Group has proven to be an innovative powerhouse in the Chinese business landscape.
The Groups automotive component business is one of its most well-known divisions, and one of its most lucrative. The automotive component business supplies parts to over 10,000 customers around the world. As the largest supplier of auto parts in China, the Group supplies auto parts for leading automobile giants such as GM and Volkswagen. The Groups other auto component businesses also produce top-class auto parts for BMW and Daimler-Benz.
The Group has also heavily invested in clean energy projects, including the worlds largest wind turbine project. The turbines, which will generate 18,000 megawatts of power, are part of an experimental project that the Group hopes will spark a green revolution in China. The Group is also heavily involved in water conservation initiatives and is developing projects to help with drought prevention.
The Group has also made significant investments in the real estate sector. In 2010, the Group purchased the majority share of the Bank of China Real Estate Investment Trust and in 2017 it acquired two pieces of real estate in Shanghais central business district. The Group has also announced plans to invest $2 billion into the construction of an international cruise hub in Shanghai.
In addition to these investments, the Group is also heavily involved with social responsibility initiatives. In 2015, the Group launched the Wanxiang Welfare Foundation, which focuses on providing educational opportunities, economic development, and social welfare to At-risk youth, rural communities, and minorities in China.
Along with its investments and charitable initiatives, the Group also places a heavy emphasis on maintaining a healthy corporate culture. The corporate culture emphasizes the importance of team work and collaboration in the pursuit of excellence. In 2017, the Group held its “Open Mind” Conference, which focused on encouraging employees to embrace innovation and stay competitive in the changing business environment.
Shanghai Wanxiang Group Co., Ltd. is a prime example of how a successful Chinese business can leverage its investments, philanthropy, and corporate culture to become a global leader. Since its founding, the Group has continually sought to expand and innovate in order to remain competitive in the ever-changing business landscape.
