Approved by Commission of Foreign Trade and Economic Cooperation of municipal government of Shanghai in September of 1986, sino-foreign joint venture Shanghai Haixin Limited company been established. The registered capital is 3 million dollars, among then Shanghai Toys Import and Export Corporation invests 15%; Industrial Company of Songjiang District Dongjing town invests 25%; Shanghai Kalong Investment & Development Company invests 10% ( China totalled 50% ); Hong Kong Shenhai Limited Company invests 30 %; Hong Kong FUXIN Enterprise Limited Company invests 20 %; ( Foreign totalled in 50% ). Then according to the needs of enterprise's production development, add more than 7 million US dollars altogether twice times in 1990 and 1992. The registered capital exceeds more than 10 million US dollars, and began to establish the factory and took up an area of more than 24,400 square meters among then 18842 square meters in construction area of building the manufacturing foreign factory. It have imported the production equipment from the countries, such as West Germany, U.S.A. and Italy, etc. It is engaged mainly for production of plush stuffed toys and garments and others like fake fur, warp knitted and fleece fabrics. Reorganization being approved as the limited company by Shanghai Economic and Trade Commission on September 25, 1993, registered with the Industrial and Commercial Bureau in November, and issued A shares and B shares stocks publicly to the society. Two years later, it has sanctioned establishing Shanghai Haixin group limited company by the authorities. There are more than ten members enterprises in all, the scale of total assets is about 1 billion yuan (RMB).
After difficulties and hardship of competition with foreign master player for more than ten years, the company starts from the joint venture of registered capital of 3 million US dollars, the group enterprises have formed vertical industrial chain with one body of manufacture, sale and complete set service of chemical fiber, spinning, set frame, dying, shell fabrics, toys, garments, blankets, etc. By now, we are one of the largest of manufacturing enterprise of more than 400 domestic parents' plush, become domestic and even Asian Hi-pile and plush most heavy production supplier at present accounts for 25% that the domestic like product exported share.
When main business lines are best, enterprises determine to develop inter-tradly, manage from the traditional single variety to Hi-Tech, pluralism, transition of the internationalized large-scale conglomerate, and into biological medicine and setting in the financial field.
The group company catches the opportunity of great international industrial structure adjustment and China's accession to WTO opportunity in 2002, accelerate optimizing resource distribution in the world, having succeeded in purchasing with Dept. of textiles of American GLENOIT company which has a long history of 70 years. The production scale of garments fabric of HAIXIN company fabrics which occupy the first in the world. This is the first time a Chinese textile enterprise's to purchase and combine international counterpart's enterprises, enterprises are from managing traditionally to the pluralism, and internationalized direction of transnational enterprise group is developed.