According to the overall deployment of the national third line construction, the Wafangdian Bearing Factory was contracted by the former Ministry of Machinery Industry with the approval of the former Ministry of Machinery Industry. From the end of 1964 to the beginning of 1965, the First Machinery Department sent people to Ningxia twice to investigate, and set up the Xibei Bearing Factory in Dashuigou, Pingluo County, Ningxia, which meets the requirements of "relying on mountains, concealing and dispersing" combat readiness. In April 1996, the former Xibei Bearing Factory established Xibei Bearing Co., Ltd., the first listed company in China's bearing industry, through shareholding reform. In the 47 years of development and construction, the West Axis has generally gone through three stages.
From 1965 to 1981, the plant was built in mountainous areas. Thousands of builders from Wafangdian Bearing Factory and all over the country have been living and sleeping in Dashuigou, working hard to build roads, bridges and factories. After several years of efforts, it was officially put into production in 1970. In the next few years, the factory developed slightly, but due to its remote location and inconvenient transportation, the production hesitated. In the early 1980s, the production fell into a low ebb and became a large loss making household in Ningxia at that time.
From 1982 to 1992, it was the stage of adjustment and transformation. That is, the adjustment and relocation from the Dashuigou of Helan Mountain to Yinchuan City will be implemented. With the concern and support of the Party and the government, the company merged the original Yinchuan Bearing Factory, opened a new factory in the new urban area of Yinchuan, and started a second venture. In 1986, the main production branches such as material preparation, forging, heat treatment, turning, medium and large factories were moved to Yinchuan. Later, all the production branches, auxiliary production branches and thousands of employees' families were gradually moved to the new factory. Without asking for a penny from the state, without stopping production for a day, and under the circumstances of very hard production and life, it took 10 years to successfully complete the historical task of adjustment and relocation at the end of 1992 while building infrastructure, moving, producing, reforming, and developing. The people of the West Axis wrote a song of entrepreneurship and victory with their wisdom and heart.
Since 1993, it has been a stage of rapid development. In 1996, Xibei Bearing Co., Ltd. was founded. From 2002 to 2006, he put forward and achieved the goal of "getting rid of difficulties in three years, doubling in five years, and achieving leapfrog development", and then put forward the goal of "achieving a total sales of 1 billion yuan in 3-5 years, and entering the top 5 of the industry in about 10 years". In 2007, through asset restructuring, China Great Wall Asset Management Co., Ltd. obtained 81.92 million shares of West Axis held by West Axis Group, accounting for 37.78% of the total share capital, and became the largest shareholder of West Axis. The "NXZ" trademark was recognized as a "China Famous Trademark". In 2008, the company won the honorary titles of "National Export Commodity Inspection Exemption Qualification", "Autonomous Region Petroleum R&D Innovation Team", and passed the "National High tech Enterprise Certification".
In May 2011, Ningxia Baota Petrochemical Co., Ltd. acquired 20% of the shares of Xibei Bearing held by Great Wall Asset Management Company, becoming the largest shareholder of Xibei Bearing. Great Wall Asset Management Company still holds 17.78% of the shares of Xibei Bearing, becoming the second largest shareholder of our company. After the pagoda became the main part of the west axis, it insisted on the people of the west axis governing the west axis, timely put forward and established the development strategy of "strengthening the main business, expanding the scale, and opening the sidelines" with "big thinking, big hand, and great spirit", and then put forward the short-term goal of "one year to get rid of difficulties, two years to step up, and three years to develop". Through the unremitting efforts of all employees, the company achieved a turnaround in 2011, and is moving forward toward the goal of "two years of progress, three years of development".
On September 27, 2020, the special meeting of the government of the autonomous region determined that Ningguoyun Group would take the lead in implementing bankruptcy reorganization of Baota Industry. On December 4, 2020, Ningguoyun officially entered and took over Baota Industry. On December 8, it completed the registration of share transfer and obtained 29.08% of the equity of the listed company. On January 8, 2021, the board of directors, supervisors and senior executives will be replaced in accordance with the law and become the actual controller.
While taking over the company's operation and management, Ningguoyun Group also took over the baton to lead Baota Industry to continue its reform and development and forge ahead. Faced with the complex situation of the impact of the epidemic situation of New Coronary Pneumonia, the rise of raw material prices and the obvious rise of domestic and foreign risk challenges, the company made every effort to stabilize the business situation, actively carried out self-help, under the care of the Party Committee and the government of the autonomous region, with the strong support of Nanjing Guoyun, under the leadership of the new board of directors and the management team, with the joint efforts of all the people of the Western Axis, successfully completed the bankruptcy reorganization in half a year, and actively promoted management innovation, We have successively carried out a series of reforms such as the adjustment of the main business structure, the optimization of the management organization structure, the placement and distribution of workers, the reform of the marketing system and mechanism, and the optimization of material procurement, further optimizing the industrial structure and enhancing profitability. Fundamentals of the company have been fundamentally improved, laying a solid foundation for the subsequent high-quality development.
In March 2021, the first set of railway freight train bearings produced by Xibei Bearing through an automatic assembly line was successfully rolled off the production line, marking that the railway freight train bearing project of Xibei Bearing officially entered the stage of qualified mass production and supply through supervision and acceptance, and also marking that the products of Xibei Bearing "NXZ" brand have returned to the domestic freight train bearing field 19 years after leaving the railway market. At the beginning of June, the "Xibei Bearing Products and Technology Development Seminar" held by the company received extensive attention from all walks of life. The company's share price has hit new highs repeatedly. The majority of investors have affirmed and recognized the actual controller Ningguoyun Group and the new management of the company, especially the various reform and development measures implemented in the past six months. The continuous improvement of various indicators in the capital market has further boosted market confidence.
2022 is a key year for the reform and development of the company. The company will focus on the main business of bearing, and focus on improving the level of technology, improving product quality, expanding sales market share, strengthening the construction of internal control system, and strengthening the style of cadres. The company will work with one heart to promote the transformation, upgrading and high-quality development of the company.