Our key advantage lies in being listed on the U.S. main board, which is home to the most advanced automotive economy globally. This strategic move has enabled us to achieve rapid financing and seize valuable opportunities in the capital market. As Zhang Xiaoping, President of Ruili Group, highlighted at a recent board meeting, the company is now accelerating the development of China's largest production base for automotive brake systems to support future growth.
According to Tao Hejian, Vice President of the company, Ruili chose to list on the Nasdaq in July 2004 and later transitioned to the main board. The Ruili brand automotive brake system is a well-known product in Zhejiang province, recognized as a high-tech enterprise product, part of a national technological innovation project, and supported by a national debt initiative. Its sealing performance exceeds U.S. standards, with a lifespan of over one million cycles—far surpassing industry benchmarks. Additionally, its corrosion resistance under salt spray testing also meets or exceeds U.S. requirements.
The company currently operates branches in the Middle East and the U.S., with products exported to Southeast Asia, Europe, and other regions. In 2005, sales of the automotive braking system exceeded RMB 500 million, securing the top market share in China. With more than 30 branch companies and 600 sales outlets nationwide, Ruili supplies over 30 automakers directly.
From 1999 to 2005, the export value of Ruili’s products grew from $100,000 to over $28 million, with automobile brake systems accounting for $23.34 million. Despite a generally sluggish industry in 2005, the company successfully 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 preparing a $30 million fundraising plan on the Nasdaq Main Board. The funds will be used to develop a 361-mu industrial park in the Ruian Economic Development Zone in Zhejiang, aiming to expand production capacity and enhance research and development capabilities. This strategic investment reflects the company’s long-term vision and commitment to leading the global automotive brake system market.
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