Shandong Gongyou Group Co, Ltd , which lies in the beautiful seashore city - Weihai ,Shandong province , established in 1958, after more than 40 years of development, has already become the large-scale enterprise group incorporating science , industry and trade into an organic whole now, at the same time,it is the biggest woodwork multi-purpose lathe production base of the whole country . In 1998, the company carried on shareholding system transformation, established to Shandong Gongyou Group Co, Ltd, company's registered capital is 29,300,000 yuan, fixed assets are 2. 200 million yuan, has nearly 3000 staff, big personnel with above special secondary academic credentials are 600 among them, more than 200 of professional and technical personnels of high titles people,cover an area of 600,000 square meters of company, the modernized factory building is with an area of 240,000 square meters, has jurisdiction over and set up the Industrial Co., Ltd. of woodwork , Gongyou electric Co., Ltd., cast the Industrial Co., Ltd., Gongyou building materials limited company, Seiko Industrial Co., Ltd., Gongyou water pump limited company , casting and smelting Co., Ltd. , Jinhui cast Co., Ltd. , Gongyou green fruits and vegetables limited company and Industrial Co., Ltd. of Gongyou of Sichuan. Products with " Gongyou " brand multi-purpose lathe of woodwork of production are regarded as the locomotive of company, the production and management include the woodworking machinery, motor , casting machinery , water pump, chemical products , construction material,smelting , fruit vegetables ,etc. more than 200 kinds of specifications . At present, the annual production capacity of woodwork lathe of the leading products is up to 300,000, the volume of production and marketing and comprehensive benefit of the industrial economy have been occupying the first place in a contest of the same trade all the time , the coverage rate of domestic market exceeds 60% for a time , the products find a good sale in America , Oceania , Africa , Southeast Asia etc; The motor is the second leading products of company, and company can produce 320,000 motors every year, disposable and smooth through the confirmation of the export license in February of 2002.