Recently, Jiang Chengzhi, Secretary of the Party Committee, Executive Chairman of the Board, and Industrial Chairman of Far East Holding Group, led a delegation to visit Zhonglu Co., Ltd. Chairman Chen Shan warmly welcomed the guests and held a discussion.

Chen Shan introduced the century-old “Forever” bicycle brand under Zhonglu Co., Ltd., highlighting its evolution through the times. As one of China’s earliest bicycle manufacturers, Forever now offers a full product range from consumer to professional models, with an annual production capacity of several million units and a global sales network spanning over 100 countries and regions. Upholding the spirit of “Heritage and Innovation in Harmony,” Forever has not only become an industry benchmark over its 85-year history but also remains committed to its mission of “forging classic quality and building premium Chinese brands,” continuously injecting strong momentum into the rise of Chinese manufacturing.

Jiang Chengzhi expressed his appreciation for Chairman Chen’s warm reception and introduced Far East’s current industrial layout centered on three core businesses: Smart Cable Network, Smart Battery, and Smart Airport. Jiang noted that Far East Battery, a subsidiary of the Group, has achieved a full-spectrum layout from cell production to energy storage systems, maintaining industry-leading technology and product manufacturing capabilities. Its 18650/21700 cylindrical cells rank among the world’s top in capacity, with energy density exceeding 300 Wh/kg and 900 Wh/L, widely applied in drones, robotics, light mobility, and smart home devices. Guided by the vision of “Building and Sharing a Safe, Green, and Beautiful Life,” Far East continues to push the boundaries of technology, contributing to global carbon neutrality and striving to become a world-leading provider of batteries and energy storage systems.

Both sides expressed the intention to establish a long-term partnership to promote high-quality development. The meeting was also attended by Huang Mingfeng, General Manager of Zhonglu’s New Consumer Division, as well as representatives from its two-wheeler market and product teams. Jiang was accompanied by Xiang Jiangfeng, Senior Partner of Far East Battery and Executive General Manager of Jiangxi Far East Battery; Dai Haifeng, Chief Customer Officer; Zhang Chenguang, International Customer Officer; and Wang Zuocheng, Head of the R&D Service Department.

About Zhonglu Co., Ltd.

Zhonglu Co., Ltd. is a comprehensive enterprise listed on the Shanghai Stock Exchange (A-share code: 600818, B-share code: 900915). Originating from the historic Shanghai Bicycle Factory, Zhonglu has evolved—through capital injection and reform by Shanghai Zhonglu (Group) Co., Ltd.—into a diversified company integrating traditional industrial manufacturing, equity investment, and new energy ventures.

Its “Forever” bicycle brand, with over 80 years of heritage, is recognized as a “China Time-Honored Brand” and ranked again on the 2024 China Brand Value Evaluation list with a brand strength index of 848 and a brand value of RMB 4.325 billion. The brand sells nearly five million bicycles annually through its nationwide online and offline network, covering urban bikes, road bikes, children’s bikes, and e-bikes.

Adhering to the principle of meeting consumer demand, Zhonglu also focuses on consumption upgrades and frontier investment areas, engaging in equity investments and exits involving listed and pre-IPO companies. Moreover, the company is committed to advancing China’s energy transition through its proprietary high-altitude wind power generation technology, supporting the nation’s “dual carbon” goals (carbon peaking and neutrality).

In May 2021, Zhonglu signed a strategic cooperation agreement with China Energy Engineering Corporation and later that year entered into an equity partnership with one of its subsidiaries to jointly build the Jixi High-Altitude Wind Power Plant in Anhui Province. With advantages in universal applicability, power stability, and cost efficiency, this technology contributes to China’s “Green Mountains and Clear Waters” initiative.

Zhonglu also owns and operates several industrial parks in Shanghai’s Baoshan and Pudong districts. The Baoshan Park focuses on the cultural and creative industry and serves as the company’s sales headquarters. It has successfully attracted over 100 emerging businesses, encompassing headquarters offices, creative studios, design exhibitions, e-commerce livestreaming, and sports experience centers.