Founded by the Ningbo Municipal Government, Ningbo Office of Ningshing Development Co., Ltd (Hong Kong), and Ningbo Ningshing Co., Ltd, functioned as an agent of Ningshing Development Co., Ltd (Hong Kong) for the management of Sino-foreign projects.
Ningbo Ningshing put forward business plans as to develop both domestic and foreign markets, and expanded its business areas to financing, real estate, trade, and investment. Since 1994 the company has been transformed from an agent under planned economy into a comprehensive market-oriented operating company, and thus began Ningshing’s first Grand Undertaking.
Taking advantage of both domestic and foreign resources, the company and Ningshing Group（HK）joined to attract foreign investment and actively financed construction projects such as Ningbo Yongjiang Tunnel, Liuting Overpass, Beilun Water Supply Project, and Zhenhai Thermal Power Plant Phase II. At the same time, the company has expanded the financial market and invested in Tianbao Urban Credit Cooperative, Rainbow Securities Firm and Futures Brokerage Company, to realize the multi-directional development of financial business.
In 1995, Youngor Group, Hua Mao Group and Ningbo International Trust jointly invested in the establishment of Ningbo United Communication Investment Co. Ltd., which entered the communication and information industry, cooperated with China Unicom and AAT of the United States, and led the operation of Unicom Ningbo GSM project, rapidly improving the industrial structure, scale strength and social influence of the company.
Based on the domestic and foreign markets, Ningshing actively adjusted the industrial structure and put forward the policy as of "deepening the main business and diversified business", and started the second pioneering process. In 1996, Ningshing obtained the right to operate import and export, expanded its investment field, opened up domestic and foreign markets, and accumulated market operation experience.
By the end of 1998
According to the requirements of Ningbo Municipal People's Government and under the guidance of Ningbo Foreign Trade and Economic Cooperation Commission, Ningshing managed and reorganized Ningbo Import and Export Company, the largest import and export enterprise in Ningbo during that time. Since then, Ningbo Ningshing has continuously optimized and upgraded its business scale, business structure, management system and team building. In 1999, Ningbo Ningshing was selected as one of the top 500 import and export enterprises in China.
Ningshing was renamed as Ningbo Ningshing Group Corporation with 10 subsidiaries. In accordance with its objective as to be stronger and more professional, Ningshing established its group organizational structure and functional settings, and gradually formed its business pattern with Foreign Trade and Economic cooperation as its main business, while seeking equal development in fields of investment, domestic trade and industrial projects.
With the approval of Ningbo Municipal People's Government, Ningshing completed the overall restructuring. Ningbo Ningshing Group, Ningbo Port, Ningbo Tianxing Investment, Ningbo Tianda Investment and Mr. Wu Yigang jointly initiated the establishment of Ningbo Ningshing Corporation, which became a mixed ownership enterprise and formed a new operating mechanism.
Ningshing implemented the reform of foreign trade system and established Ningbo Ningshing International Inc. to conduct the professional operation of foreign trade. And correspondingly the headquarter of Ningshing started to focus on the function of strategic decision, supervision of the enterprise operation, equity operation and multi-industry operation, aiming to create and consolidate comprehensive strength and reaction mechanism with a better market competitiveness.
The company changed its name to Ningbo Ningshing Holdings Corporation, and has increased its capital and shares twice, gradually forming business expertise, brand advantages, and social influence in the fields of international trade, special steel operation, automobile 4S operation, liquefied storage, real estate development, culture, and media, etc.
Suffered from the severe impact of the global financial crisis, Ningshing and its staff advanced collaboratively against hardship, overcame the difficulties with persistence and converted efforts, and did every effort to protect Ningshing’s rights and interests. During this period, Ningshing cultivated a strong-minded and excellent teams, learned more precious experiences and maintained a stable growth of the development.
Ningshing Holdings started again, completed the first strategic goal of Ningshing Strategic Outline, started a new round of innovative development planning, accelerated transformation and upgrading, promoted structural adjustment, and developed into a holding group company with diversified professional operations, which formed brand advantages and industry influence in the fields of international trade, precision machinery, cross-border e-commerce, feed technology and service, shipbuilding, tank terminal, Auto 4S Dealership Operation, and equity investment.
The company promotes specialized operations centered on products, strengthening the closer interactions among trade, manufacture, and R&D, and has gradually developed ten competitive products and seven business brands, and has established seven production and processing facilities. While building solid business foundations, Ningshing has also established a good image and reputation, and built strength and expertise in market segments. All these have laid the foundation for the company's development to enter a new sustainable stage.