Corporate Vision


Be the Most Socially Responsible Enterprise.

Xu Yong’an

Chairman and President

Our Company

Our Founder

Our Founder

Hengdian Group founder Xu Wenrong was born in 1935 in Dongyang City in China’s Zhejiang Province. As part of the country’s first generation of entrepreneurs after its economic reform and opening up, Xu has sought new opportunities and broken new ground throughout his career. Now, in his 80s, Xu remains active in his business in Hengdian.

Xu started his career by setting up a silk factory in 1975, followed by several magnet factories in 1980. In 1989, the Dongyang Organic Synthetic Chemical Manufacturing Plant 1 was born. In 1996, Xu established Hengdian World Studios and built its first movie set, Guangzhou Street, laying the foundation for Hengdian Group’s film and culture sector. Later he invested in and helped build local infrastructure and public service facilities including roads, schools, and hospitals in the city. In 2017, aged 83, Xu brought the New Yuan Ming Palace to Hengdian.

Xu founded the model of “Hengdian Community Economy” and established the goal of “common creation, common ownership, common wealth and common share,” which became the backbone of the company’s development.

Xu was elected as a representative to the National People’s Congress eight times. He has been recognised as a National Model Worker, an All-China Outstanding Township and Village Entrepreneur, a Chinese Grand Master of Management, as well as a Chinese Grand Master of Technology Economics.

One of China's Largest Private Enterprises

One of China's Largest Private Enterprises

Hengdian Group is a private holding company in China with a diversified portfolio. Forged through three major stages of entrepreneurship, the company has adopted the development strategy of “Diversified Development and Specialized Operation.” Currently, we are controlling shareholders in six public companies and platforms: DMEGC Magnetics, Apeloa Pharmaceutical, Innuovo Technology, TOSPO Lighting, Hengdian Entertainment and Nanhua Futures. Our group operate strategically around these major platforms with several more companies prepping for IPO.

We create new materials, new energy, lighting, micro and special motors, audio equipments, pharmaceuticals, healthcare, medical devices, and green chemicals. Our product development process encompasses research and development, production, sales and services within one corporate framework. We are renowned as the “Magnetic Capital of the World” as well as the “Medical Valley of Jiangnan.” As the headquarter of China’s film and entertainment industry, we offer the world’s largest production sets and a full range of related services. From movie sets to cinemas, post production work, education and training, our extensive product chain earned Hengdian the name “China’s Dream Factory.” Furthermore, our business extends into modern services, offering financial derivatives, international commerce, and aviation services, and contributes to further growth of the real economy and advancement of local industries.

Serving the Public from Our Roots in Hengdian

Serving the Public from Our Roots in Hengdian

The Hengdian Group continues to be rooted in Hengdian. In the process of China’s reform and opening-up, in addition to generating tax income and providing employment opportunities, we are a catalyst to the development of regional industries, changes in the cityscape, improvement to the standard of living, and creation and spread of our city’s branded image. Hengdian has been picked as role-models for more than 20 reform and development programs at the national and provincial levels, such as being a pilot town for the National Comprehensive Reform of Small Cities and the demonstration zone as a National Film Industrial Park.

Operating at the center of a modern transportation network connected by Hangzhou-Wenzhou High-Speed Railway, Hengdian Airport and Jinhua-Yiwu-Dongyang Light Rails, Hengdian Group is primed for the globalization of the film and entertainment industries, and is constantly striving to build Hengdian as a an iconic city of film, culture, a capital of recreation. We are building a modern city with the motto of “strength in industry, preeminence in culture, elegance in cityscape and prosperity in people”.

Our Subsidiaries

Hengdian Group DMEGC Magnetics Co., Ltd.

SZSE: 002056

Hengdian Group TOSPO Lighting Co., Ltd.

SSE: 603303

Hengdian Group Innuovo Technology Co., Ltd.

SZSE: 000795

Zhejiang Xinna Material Science and Technology Co., Ltd.
Zhejiang Trefan Audio Technology Co., Ltd.
Zhejiang GBF Basalt Fiber Co., Ltd.
Hengdian Group Tospo Engineering Plastics Co., Ltd.
Apeloa Pharmaceutical Co., Ltd.

SZSE: 000739

Zhejiang Avilive Chemical Co., Ltd.
Zhejiang Wedu Medical Co., Ltd.
Hengdian Group Innuovo Technology Co.,Ltd.

SZSE: 000795

Hengdian Wenrong Hospital
Jinhua Wenrong Hospital
Hengdian Entertainment Co., Ltd.

SSE: 603103

Hengdian World Studios
Zhejiang Hengdian Film Industrial Park Service Co., Ltd.
Zhejiang Hengdian Film Industrial Park Service Co., Ltd.
Zhejiang Hengdian Film and Television Service Co., Ltd.
Zhejiang Hengdian Film and Television Service Co., Ltd.
Zhengjiang Hengdian Film Property Exchange Co., Ltd.
Zhejiang Hengdian Omnimedia Technology Co., Ltd.
Zhejiang Hengdian Omnimedia Technology Co., Ltd.
Hengdian College of Film & Television
Zhejiang Hengdian Sports Development Co., Ltd.
Zhejiang Hengdian Sports Development Co., Ltd.
Nanhua Futures Co., Ltd.

SSE: 603093

Hengdian Capital Management Co., Ltd.
Hengdian Capital Management Co., Ltd.
Dongyang Jinniu Small Loan Co., Ltd.
Dongyang Jinniu Small Loan Co., Ltd.
Zhejiang Hengdian Imp. and?Exp. Co., Ltd.
Zhejiang Hengdian Imp. and?Exp. Co., Ltd.
Zhejiang Haludo Commercial & Trade Co., Ltd.
Dongyang Yite Trading Co., Ltd.
Dongyang Yite Trading Co., Ltd.
Zhejiang Hengdian Airport Co., Ltd.
Zhejiang Hengdian Airport Co., Ltd.
Avieast General Aviation Co., Ltd.
Hengdian Group Real Estate Development Co., Ltd.
Hengdian Group Real Estate Development Co., Ltd.
Zhejiang Dongheng Construction Technology Co., Ltd.
Zhejiang Hengdian Urban Public Service Co,Ltd.
Zhejiang Hengdian Urban Public Service Co,Ltd.
Hengdian Wenrong Experimental School
Hengdian Wenrong Experimental School
Dongyang Hengdian Senior Middle School
Dongyang Hengdian Senior Middle School
Dongyang Hengdian Group Kindergarten
Dongyang Hengdian Group Kindergarten

Company History

The Third Stage 2001 to the Present
  • 2001
    Xu Yong’an became the President of Hengdian Group, initiated Hengdian’s “Third Stage of Entrepreneurship” and adopted the goal of “Internationalization of Hengdian”. In the same year he purchased the listed company Qingdao Dongfang, now restructured into Apeloa Pharmaceutical (SZSE:000739).
  • 2002
    Acquired the listed company Taiyuan Gangyu, now restructured into Innuovo Technology (SZSE:000795).
  • 2003
    Xu Yong’an became the chairman of Hengdian Group Holdings Ltd..
  • 2004
    The National Radio and Television Administration approved the setting up of Zhejiang Hengdian Film and Television Industry Experimental Zone, the first national experimental zone of its kind.
  • 2006
    DMEGC Magnetics (SZSE:002056) was listed on the Shenzhen Stock Exchange.
  • 2008
    Zhejiang Hengdian Theaters Co., Ltd. was founded, now renamed as HG Entertainment Co., Ltd..
  • 2010
    Hengdian World Studios was awarded the title of “National 5A Tourist Scenic Spot”.
  • 2012
    Zhejiang Hengdian Film and Television Cultural Industry Experimental Zone was established.
  • 2016
    The Hangzhou-Wenzhou High-Speed Railway, a project first advocated and backed by the Hengdian Group, was approved for construction by the National Development and Reform Commission.
  • 2017
    TOSPO Lighting (SSE:603303) and HG Entertainment (SSE:603103) are listed on the Shanghai Stock Exchange.
  • 2018
    Hengdian Airport began operation.
  • 2019
    The Provincial Committee of the CPC and the Provincial Government of Zhejiang approved the establishment of Hengdian Film and Television Cultural Industry Cluster.
    Nanhua Futures (SSE:603093) began listing at the Shanghai Stock Exchange and became the first futures company in China to be listed on the Chinese main board.
  • 2021
    Honored by the Central Committee of the CPC and the State Council as a “National Role Model in Poverty Alleviation”.
The Second Stage 1992-2000
  • 1993
    The enterprise was restructured to establish the first large scale comprehensive township and village enterprise - the Hengdian Group.
    Zhejiang Hengdian Imp. and Exp. Co., Ltd. was established.
  • 1994
    Hengdian’s experience of “common growth, common wealth” is discussed by the central government in the Great Hall of the People.
    Preparation for a Hengdian University was underway. The project later became the Hengdian College of Film and Television.
  • 1995
    Hengdian Group Aviation Recreation Club was formed. This was the enterprise’s first step into the aviation industry.
  • 1996
    Ventured into the film and cultural industry by constructing its first movie studio and backlot called Guangzhou Street for Director Xie Jin to shoot the movie The Opium War.
    Hengdian Group Convalescent Hospital was formed. In 2014, the Group invested in a new hospital site and the hospital was renamed Hengdian Wenrong Hospital.
    TOSPO Electronics Co. Ltd. was set up by Xu Yong’an.
  • 1999
    The Hengdian Jinhua Children’s Hospital was founded, and later developed into Jinhua Wenrong Hospital in 2003.
    Hengdian Group Holdings Ltd. was established. The company organization reform was implemented.
    Zhejiang Nanhua Futures Brokerage Co., Ltd. was acquired.
  • 2000
    Hengdian Group Aviation Business Development Co., Ltd. was set up, now restructured into Zhejiang Hengdian Airport Co., Ltd..
The First Stage 1975-1991
  • 1975
    The enterprise's first venture - Hengdian Silk Factory was established by Xu Wenrong.
  • 1978
    A weaving mill, printing and dyeing mill were set up, and merged as Hengdian Light Textile Plant three years later.
  • 1980
    Xu Wenrong set up magnet factories and the enterprise entered into the electronic components manufacturing industry.
  • 1984
    Hengdian Industrial Company was established. Government functions was separated from enterprise management. Later the enterprise was renamed as Hengdian Industrial Corporation.
    The enterprise took its first step into the tourism industry by setting up a tourist services company.
  • 1987
    Hengdian Industry Corporation’s total assets surpassed a hundred million CNY, the first to do so in central Zhejiang.
    Ventured into the pharmaceutical and health industry by developing pharmaceutical intermediates. Dongyang Organic Synthetic Chemical Manufacturing Plant 1 was formed two years later.
  • 1989
    “High tech only” was adopted by Xu Wenrong as the enterprise’s corporate strategy.
  • 1990
    Zhejiang Hengdian Corporation was set up. It was the first privately held corporate group in Zhejiang province.
    Xu Yong’an founded Dongyang Yong’an Chemical Plant.

Corporate Culture

公司文化.jpg (1.38 MB)

Core Values

Compassion Moderation Teamwork Action

Business Philosophy

In morality and legality, we forge our conviction.
In science and governance, we construct our standard.
From passion and reason, we build confidence.
From introspection and compassion, we gain wisdom.
With the world and people, we seek harmony.

With learning and reflection, we divine the future.
Through perseverance and exploration, we seize opportunities.
Through ambition and dedication, we create positivity.
From daring and innovation, we gather our strengths.
With action and expedition, we create results.

Development Strategy

Diversified Development and Specialized Operation.