(submitted by Geoffrey Cheung).
Chongqing Lifan Industry (Group) Co., Ltd is the biggest individually-run motorcycle manufacturer in China. Yin Mingshan, together with other 9 persons, established Lifan Hongda Vehicle Assembly Research Institute in 1992 with 200,000 RMB.
After 12 years' efforts, Lifan Group has rapidly grown up and developed to be a state level large-scaled individually-run enterprise centering on science and technology development, engine & motorcycle manufacture and sales(including export) and incorporating automobile manufacturing.
There are more than 8700 staffers in Lifan Group, more than 2000 of whom are students graduated from university/college or secondary specialized school. Lifan Group possess 10 enterprises, 3 marketing companies, 1 technical center at state level.
The Group has the capability of producing 2 million units of engines and 1 million units of motorcycles annually and is among Top 50 Chongqing Industrial Enterprises in consecutive two years, ranking the 1st position in top 50 Chongqing individually-run enterprises. Lifan Group has been among Top 500 Motorcycle Manufacturers in the world and Top 500 large-scaled enterprise groups in China.
On Sept. 2004, Lifan motorcycle was awarded by the State Bureau of Quality and Technical Supervision and China Promotion Committee for Top Brand Strategy the title of honor of "Chinese Top Brand".
Lifan Group realized sales income of RMB 4.02 billion in 2002, achieving profits and taxes of RMB 205 million. In 2003, the incomes of sale topped RMB 4.58 billion. In 2004, Lifan realized sales income RMB 5.9 billion. The indexes showing production and sales of engine, foreign exchange earning, no. of patent possession, overall value of production and sales rank the 1st across the country, making him rank the 1st position in the domestic sector in terms of overall strength.
Up to December of 2004, the Group has owned 2098 patents at home and abroad, 866 copyrights, 556 domestic registered trademarks and 68 foreign registered trademarks with no. of self intellectual property rights ranking the leading position among the domestic sector. 90 (100) electric start, vertical 100 (110) engine independently developed by Lifan were the pioneer in China, which was a milestone in Chinese motorcycle history.
In China, Lifan was the first company that developed a V-twin 250 engine, as well as the first company that developed motorcycle electric spray technology, water cooling technology and multiple air-gate technology with independent intellectual property right. Each year, Lifan input 3-6 engine products and more motorcycle types into market. Lifan holds the largest quantity of engine types in the country. The new practical patent developed by Lifan "engine combustion chamber" was awarded gold medal in 2004 China International Patent Fair.
In 1998, Lifan obtained right to engage in foreign trade himself. In 2000, Lifan established the first import & export company among Chongqing privately-owned companies, and earn US $52 million of foreign exchange through exports in the same year.
In 2001, Lifan earned US$117.4 million of foreign exchange through exports, making it the first motorcycle company exceeding US $100 million in China's motorcycle sector and subsequently becoming the undoubtedly deserved leading enterprise in export across the country. Lifan achieved a US $203 million on foreign exchange through exports in Jan. to Dec. of 2003, making it the single enterprise in Chongqing exceeding US $200 million threshold in export.In 2004, Lifan realized export income U.S Dollar 242,000,000. Lifan's products are widely sold to over 100 countries covering South-East Asia, West Asia, Europe, Africa, South America. In September 2001, Lifan motorcycles were first sold to Japan, rewriting the history of no motorcycle export to Japan from China.
In Vietnam, Lifan motorcycle has the absolute predominance. In 2003, motorcycle and engine developed by Lifan Group passed EU's e-mark accreditation, indicating that Lifan's products can enter 18 European countries without any restriction.
With rapid growth, Lifan does not forget to return the country and the society. From 1992 to 2004, Lifan had donated totally RMB38.2 million to the society and RMB2.25 million to government at all levels in Chongqing in 2003 for use with prevention of SARS. Up to end of 2003, Lifan Group has built 37 Guangcai schools. In 2004, Yin Mingshan topped the 20th position of 2004 Mainland China Philanthropist ranking, making him the 1st philanthropist selected across Chongqing. "Prefer people's betrayal in Lifan than Lifan's betrayal in others" has become Lifan's operation motto. Lifan has been awarded the title of "honor credit and promise" in consecutive years by Chongqing government. In 1999, under approval of government and People's Bank of China, Lifan Group issued 50 million enterprise bond. With its good reputation, Lifan can obtain required financial aid from bank.
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