The company is a manufacturer of renewable resource processing equipment dedicated to serving the global market and a group high-tech enterprise for comprehensive resource recycling. The company's predecessor was Jiangyin Zhouzhuang Machinery Foundry, founded in 1989. It is the earliest domestic enterprise engaged in R&D and manufacturing of renewable resource processing equipment. In 2011/12, Huahong Technology was listed on the main board of the Shenzhen Stock Exchange. The company's main business is divided into four major business segments: “Renewable Resources Equipment and Operation”, “High-end Manufacturing of Elevator Parts”, “Comprehensive Utilization of Rare Earth Resources” and “Rare Earth Magnetic Materials”. The company's main products include all kinds of metal crushing, hydraulic shearing, metal packaging, metal briquettes, various non-metallic packaging, compression equipment, end-of-life vehicle dismantling equipment, speed limiters, tensioning devices, hydraulic buffers, safety gears, praseodymium oxide, dysprosium oxide, terbium oxide, europium oxide, gadolinium oxide, holmium oxide, rare earth permanent magnet materials, etc. The company's honors include Jiangsu Province Management Innovation Demonstration Enterprise, China Circular Economy Association Executive Director Unit, and China Scrap Steel Application Association Vice Chairman Unit.