Weifang Baihe Crafts Co., Ltd. (Legal Representative: Tang Aiying) was founded on April 5th, 2005 with a registered capital of RMB 5 million. It is located at the east end of Changda Road of Changle Economic Development Zone, with a total land area of 34mu and a floor area of 22,000m2 (including workshop, office building and employee dormitory). The company is a corporate enterprise co-founded by Tang Aiying investing RMB 500,000 and Wu Jihai investing RMB 4,500,000 in March 2005.
The company mainly manufactures woven belts, silk ribbons, tinsels, and other crafts, and owns the domestic advanced equipment of braid, printing and tinsel, with total assets nearly RMB 18 million. The products are popular in more than ten countries and regions, such as Japan, South Korea, Europe and America, as well as in more than 20 large and medium-sized cities nationwide. The company realized a sales income of RMB 9 million in 2005, RMB 18 million in 2006, and RMB 38 million in 2007. This year, the company invests about RMB 12 million on the project of yarn dyeing which is expected to be put into production in this October and create profit over RMB 10 million annually. The company has a bright market prospect and is predicted to realize an annual sales income up to RMB 60 million in 2010.