Rui Li wants to build the largest production base for automotive brake systems in China
Our key advantage lies in being listed on the U.S. main board, which is home to the most advanced automobile economy globally. This strategic move has enabled Ruili to achieve breakthroughs in fast financing and effectively seize capital market opportunities. At a recent company board meeting, Zhang Xiaoping, President of Ruili Group, highlighted that the company is now accelerating the development of China's largest production base for automotive brake systems, aiming to further strengthen its market leadership.
According to Tao Health, Vice President of the company, Ruili chose to list on the Nasdaq in July 2004 and later transitioned to the main board. The company’s brake system products have gained recognition as a well-known brand in Zhejiang Province, and are classified as high-tech products by the provincial government. They also serve as part of national technological innovation projects and debt-funded initiatives. The product's sealing performance exceeds U.S. standards, with a lifespan exceeding one million cycles—far surpassing domestic industry benchmarks. Additionally, its surface salt spray corrosion resistance meets and even exceeds U.S. requirements.
Ruili currently operates branches in the Middle East and the U.S., with exports reaching Southeast Asia, Europe, and other international markets. In 2005, sales of the automotive braking system reached over 500 million RMB, securing the top market share nationwide. With more than 30 branch companies and 600 sales outlets across China, Ruili supplies over 30 automakers directly.
The export value of Ruili’s products grew from $100,000 in 1999 to over $28 million in 2005, with $23.34 million attributed to the export of automotive brake systems. Despite an overall sluggish industry in 2005, the company implemented an internationalization strategy, achieving an 80% increase in exports compared to the previous year. It became the first domestic manufacturer to supply brake systems to foreign car OEMs.
Currently, Ruili is planning a $30 million fundraising initiative on the Nasdaq Main Board. The funds will be used to develop a 361-mu industrial park within the Ruian Economic Development Zone in Zhejiang, significantly expanding production capacity and enhancing research and development capabilities. This strategic investment underscores the company’s long-term vision and commitment to maintaining its competitive edge in the global automotive industry.
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