- Business
- Shandong Hongyu Precision Machinery Co., Ltd. (002890.SZ) manufactures and sells agricultural machinery parts and components, primarily tractor hydraulic lifters and related accessories; its core products include electric control lifters, hydraulic lifts and cylinders, control valves, distributors, casting products, and spare parts for large, medium, and small horsepower tractors. The company, founded in 1999 and headquartered in Laizhou, Shandong Province, China, operates mainly in the domestic market with international exports comprising 41% to 50% of sales; it employs around 636 people and maintains production facilities covering 155,127 square meters with over 10 production lines and more than 1,600 processing and testing equipment sets. In November 2023, the company changed its name from Shandong Hongyu Agricultural Machinery Co., Ltd. to Shandong Hongyu Precision Machinery Co., Ltd. to reflect its expanded focus on precision components; recent financial performance shows operating revenue of CNY 174 million in the first half of 2025, down year-over-year, with net profit of CNY 8.36 million and a proposed final cash dividend for 2024 announced in April 2025.