Shandong Automobile Industry Group Co., Ltd. is a business conglomerate that was established with the approval of the Shandong Provincial Government. The Group has eleven subsidiary companies which include Shandong Mingshui Automobile Parts Factory, Shandong Automobile Spring Factory, Shandong Automobile Industry Group Co., Ltd, Yantai Branch, Shandong Daewoo Parts Co., Ltd., and more. These subsidiaries possess total assets of RMB 3 billion. Its main operations are manufacturing and sales of complete vehicles and vehicle parts, sales and service for automobile products, automobile materials circulation service, import-export of complete vehicles and related parts. Over nearly 20 years of development, the Group has taken the initiative of establishing an R&D center, a production line and a marketing system network, and it has the capability of producing components and developing brands for light vehicles, heavy vehicles, retrofitted vehicles, commercial vehicles and limousines. Among these, the production capacity for light vehicles is 200,000 and 100,000 for medium and heavy vehicles. There is also spare parts production for light and heavy vehicles as well as limousines and construction machinery. The company enjoys a good reputation for production of spare parts for vehicles in the domestic market.