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Shandong Shengyuan Industrial Equipment Co., Ltd. (Shengyuan Industry), a subsidiary of China's Top 500 enterprise Shandong Ronghui Group, was founded in 1997 with a registered capital of 368.43 million RMB. Inheriting the Luoling Spirit, it commits to intelligent upgrading of mining machinery, focusing on the R&D and production of mining support equipment, lithium battery monorail hoists, hydraulic components and industrial fluid control devices, with five affiliated companies. As a national high-tech enterprise, national "Specialized, Refined, Differential and Innovative" Giant and Shandong Gazelle Enterprise, it runs six production bases with nearly 300 employees. Its average annual revenue growth reached 17.87% in recent two years, and the revenue hit 494 million RMB in 2025. Boasting 92 patents and over 100 technological achievements, many of its technologies are at the leading level at home and abroad. The company has invested nearly 25 million RMB in R&D and plans a high-end equipment manufacturing project with a total investment of 2.9 billion RMB.