Kaibao Wang took over a near-bankrupt factory with a fund of less than 200 thousand RMB and less than 20 employees, and started Dawang business.
Dawang became the largest foundry in Dandong, with sales of 32.7 million yuan. The factory was expanded to 13,000 squared meters, with an investment of 10 million yuan. Machining production lines were added.
With 40-million investment, Dawang added four automatic shell-making lines, improved work efficiency by 5 times, optimized manufacturing process, and improved working environment.
Invested 23 million yuan to buy out Dandong Best Machinery Co. Ltd.. Established the sand casting workshop, mainly producing mining machinery parts, coal machine parts, railway locomotive parts and excavator parts.
Invested 10 million yuan to carry out a technical transformation and upgrade the sand casting workshop. Introduced a 20t/h automatic molding line, and achieved an annual production of 4000t.
In 2018, Dawang acquired 53000 ㎡ of land, investing 60 million yuan to establish two new casting production lines: a precision casting production line, and a shell mold shell production line.