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History

History
Yinlun now has a history of more than 50 years. It has gone through three major stages of development, i.e.
from 1958 to 1999 | from 1999 to 2007 | from 2007 till now,respectively as a local state-owned enterprise, local private enterprise and domestic listed enterprise.
From 1958 to 1999 as a local state-owned enterprise.
Due to institutional influences, the enterprise suffered from heavy burden, inflexible system, slow department, too many product varieties, low profit margin and small production scale. The enterprise was on the verge of bankruptcy.
From 1958 to 1969,the company was called Tiantai Iron Works, a local state-owned machinery factory in Tiantai, which was affiliated with Tiantai Industrial Transportation Bureau. The factory mainly manufactured small farm tools, including rice threshers, rice transplanters, rice scourers, flour mills, water-turbine pumps, etc.

From 1969 to 1979,the company was called Tiantai Agricultural Machinery Repair and Manufacture Factory which was affiliated with Tiantai Industry Bureau. The factory mainly manufactured agricultural machinery products including rice scourers, percussive open-well machines, 190 diesel machine, deep-well pumps, and S195 crankshafts. In 1978, it began to develop coolers and set up production workshop of coolers.

From 1979 to 1997,the company was called Zhejiang Tiantai Machinery Factory which was affiliated with Tiantai Economic Committee.

From 1989 to 1994,the company had successively merged six local enterprises experiencing financial difficulties, which are respectively Tiantai Thermal Insulation Material Factory, Tiantai No. 1 Cement Factory, Tiantai Radio Factory, Tiantai Auto Parts Factory, Tiantai Industrial Materials Co., Ltd, and Tiantai Paper-making Factory.
In October 1980, silver brazing oil cooler was successfully trial-produced. Since silver is rare metal, it is expensive and in short supply. Therefore, its cost is high and its output can not be easily expanded. In order to solve this problem, the enterprise decided to replace silver brazing oil cooler with brazing oil cooler. In September 1981, brazing oil cooler was successfully trial-produced. “Yinlun” series plate-fin oil cooler won the fourth prize for scientific and technological achievements of the People’s Government of Zhejiang Province and Zhejiang Tiantai Machinery Factory was a designated factory by the Ministry of Machine-building Industry. In 1985, 38.5Z oil cooler was awarded the first prize by the cooler industry group of Ministry of Machine-building Industry. In 1991, 6.7Pn oil cooler assembly was rated as national new product for the year of 1991.
The enterprise underwent five technological renovations respectively in May 1985, April 1991, June 1992, December 1993, and March 1997 in which RMB 1.06 million, 1.5 million, 4.95 million, 20 million and 32.96 million were respectively invested, which enable the annual production capacity of plate-fin oil cooler to reach 0.25 million ones, the annual sales revenue to reach over RMB 50 million, and the export sales to reach over RMB 10 million.

From 1997 to 1999,the company was called Zhejiang Yinlun Machinery Group Co., Ltd, an enterprise solely funded by the State, which was affiliated with County Committee of Planning Economy.
 
From 1999 to 2007 as a local private enterprise
After successful structural reform, the enterprise was rejuvenated. It began to focus on the development and development of automotive heat exchangers. As a result, the sales volume had increased rapidly for years on end. It had become a leading enterprise in China’s automotive heat exchanger industry.
In February 1999,approved by Securities Commission of People’s Government of Zhejiang Province, the labor union of Zhejiang Yinlun Group and 15 natural persons including Xu Xiaomin made joint contribution to establish through promotion “Zhejiang Yinlun Machinery Co., Ltd”. The amount of total share capital of the company is RMB 10 million, all of which were subscribed by the promoters.
In March 1999, after approved by Zhejiang Administration for Industry and Commerce, “Zhejiang Yinlun Machinery Co., Ltd” was formally founded. Its sales volume for 1999 is RMB 67.5 million and export volume for this year is USD 4.8 million.

In 1999,the company newly developed aluminum intercooler and fin-tube cooler.

In 2001,the company transferred punching-grab machines and centrifuge to Zhejiang Tiantai Lanjing Machinery Rubber Co., Ltd, to focus its attempt to develop heat exchanger products.
In 2001, the company successfully got access to global sourcing system of Cummins. Since then, its products enter international OEM market.

In 2002 the technical innovation project of oil cooler and intercooler with a total investment of RMB 0.131 billion was included in the project of special fund for the seventh batch of the treasury bonds. Through technical renovation, the company has developed annual production capacity of 1.5 million plate pin oil coolers, 1.5 million fin-tube oil coolers, 0.8 million Al alloy oil coolers, 0.2 million intercoolers, 0.25 million different cooler assemblies, enabling the company to continue to stay ahead in China in production of intercoolers and oil cooler products and start developing EGR coolers.

In 2003,the company began to produce Al alloy oil coolers jointly with Valeo in France.

In 2004,the company moved into the new plant. The area of the plant was expanded by 20 times.

In 2005,C7 oil cooler of Caterpillar was successfully developed and goods were supplied in batch. This indicates that the company’s products began to enter the international engineering machinery mainstream product supporting market..

In 2006,exhaust gas recirculation (EGR) cooler developed by the company on its own was included in the “state-level Torch Program project”. EGR coolers then began to be launched into the market in batch.
 
From 2007 till now as a domestic listed enterprise
The development of the enterprise has entered a new phase. The research and development capability of the enterprise has improved continuously; the products have begun to develop from low-end ones to middle and high-end ones; the market has further extended or expanded from the market of engines, automobiles and engineering machinery to the supporting market of locomotives, ships, wind power generation, generator sets, industrial field, civil field, etc, so as to continue to lead the domestic heat exchanger industry.
On April 18, 2007,the company was listed on the SME board of Shenzhen Stock Exchange.
In 2007, Guangxi Yuchai Machinery Co. Ltd, Zhejiang Geely Holding (Group) Co., Ltd and Zhejiang Yinlun Machinery Co., Ltd jointly contributed to establish Zhejiang Yuchai Sanli Engine Co., Ltd. In 2010, Zhejiang Yinlun, Shanghai Songzhi and China Geely jointly contributed to establish Zhejiang Yinzhili Automobile Heat Exchange System Co., Ltd. Besides, the company acquired Bonige Industrial Refrigeration Equipment (Wuxi) Co., Ltd to establish Wuxi Yinlun Bonige Industrial Refrigeration Equipment Co., ltd. In 2011, the company established Yinlun in U.S. near NYSE: CAT.

In 2008,“module assembly 865 II” our company undertook to develop was included in the “National Torch Program Project for 2008-2009”.

On May 8th 2009,Hangzhou Yinlun Technology Co., Ltd was established. Yinlun set about developing cutting-edge products and technologies of SCR, intelligent cooling module, tec. In 2010, SCR system was successfully developed and passed the field test of Ji’nan Vehicle Test Center.

In 2010,Yinlun, after obtaining approval, set up enterprise institute at provincial level. Yinlun has already been fully equipped with the ability to develop product simultaneously with domestic and international customers. Its CFO application level has developed from single piece to module. Now, it has full analysis ability of single piece and has basically developed the analysis ability of whole vehicle system. Optimization and simulation of mechanical cooling system and CFD analysis of engine cabin ' s inner-out flow have met the requirement for simultaneous development of domestic engine manufacturer and approximated the application level of the same industry in the world. Its FEA technology has been widely in product development and failure analysis and has played a very effective role.
In 2010,the sales volume of Zhejiang Yinlun Machinery Co., Ltd reached RMB 1.47 billion, the first time in its history to exceeded RMB 1 billion.

In 2011,the company, for the first time, invested fund into projects such as SCR, front-end module of automobile and engineering machinery cooling module, which laid a solid foundation for the sustainable development in the 12th Five-Year-Plan period.

 

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