Which company did Qirun Chemical acquire in Guangrao?

Xinyi Group.

Dawang Town, Guangrao County, made every effort to promote the second take-off of Dawang’s career, adhere to the bottom line of development, established Qingdao Dawang Investment Management Co., Ltd., and launched a bid to acquire the bankrupt Xinyi Group in 2020.

Xinyi Group is the manufacturer of brake pads with the largest number of supporting OEMs in China, including well-known automobile manufacturers such as China National Heavy Duty Truck, Shougang Heavy Duty Truck, Shanghai Volkswagen, Ford Motor, Beijing Hyundai, Great Wall Motors, and Chery Automobile. Its customers have a share of more than 55% of similar car OEMs in China.