Zhejiang Dibei Electric Co., LTD. (Stock code: 603320) is a national high-tech enterprise and a specialized, refined, distinctive and innovative enterprise dedicated to the research and development, manufacturing and sales of high-efficiency motors and drive controllers. It is committed to providing energy-saving, low-carbon and environmentally friendly system solutions. With an annual production capacity of over 20 million sets and sales of 1.2 billion yuan, our global market share in the niche field is nearly 10%. We have established strategic partnerships with well-known domestic and foreign brands such as Danfoss, Huayi Group, and Invate.
With over 30 years of dedication to the motor industry, our core products cover various types of compressors for industrial, commercial and household use, including piston, rotor, scroll, semi-hermetic and screw compressors. The terminal applications cover multiple fields such as air conditioners, refrigerators, cold chain transportation, thermal management systems for new energy vehicles, and thermal management systems for energy storage. It is the supplier and service provider with the most comprehensive product range in the industry.
In 2021, the industry's first brand-new intelligent factory was completed and put into operation, achieving refined and intelligent management throughout the entire process of planning, manufacturing, transportation and warehousing.
In the field of scientific research, a provincial high-tech research and development center and a postdoctoral workstation have been established, and an experienced R&D expert team has been formed to achieve full-process development capabilities covering design, simulation and testing. It holds 16 invention patents and 75 utility model patents. It has consecutively won multiple honors such as "Top 30 Industrial Enterprises", "Shaoxing City Enterprise Technology Center", "Outstanding Contribution Award for Economic Development - Top 30 Industrial Enterprises", and "Top 20 Taxpayers in the Industrial and Commercial Sector of Shengzhou City".
"Talent is the source of hope for Dibe." Through measures such as establishing internship bases for college students, deepening school-enterprise cooperation, strengthening internal intermediate and advanced skills training, and building a complete career development channel, it has taken multiple measures in selection, appointment, training, and assessment, gradually establishing a high-quality cadre team and reserve team. In the future, Dibe will leverage its technological innovation and R&D capabilities to explore the path of transformation, striving to become a leading global enterprise in sealed motors. It aims to create a sustainable development pattern featuring a full range of products, strong technology, and robust manufacturing, achieving "one full and two strong" capabilities. This will contribute new quality productivity to the high-quality development of the industry, enabling "Made in China" to benefit the world and jointly build a bright future.
The basic period of entrepreneurship from 1989 to 1995
On April 10, 1989, Wu Huanrong, then the director of Zhijiang Special Motor Factory, was selected by the organization to establish Shengxian Electrical Instrument Factory (a township enterprise) and served as its director.
Since 1990, it was renamed "Shengxian Compressor Motor Factory" and transformed into the manufacturing of refrigerator compressor motors. In January of the same year, a Party branch was established.
In 1993, it completed the transformation from a township enterprise to a private enterprise. On December 8 of the same year, Zhejiang Shaoxing Xingbei Electromechanical Co., LTD. (later renamed Shaoxing Xinxing Electromechanical Co., LTD.) was established. The "Qiangbei" brand, which pursues high efficiency and quietness as its quality, is named after the unit of sound volume.
In 1995, it achieved an annual production capacity of 500,000 motors, with an output value exceeding 50 million yuan. It provided motors for domestic refrigerator compressor manufacturing enterprises such as Hangzhou Oxygen Generator and Yuhuan Shuanglong, and became a backbone enterprise of refrigerator compressor motors in China.
The period of business improvement from 1996 to 2010
In 1996, the company invested over 10 million US dollars to introduce two imported high-speed punch presses, one with a capacity of 125 tons and the other with a capacity of 200 tons, as well as advanced equipment such as the automatic riveting machine for stator and rotor from Sanyo Corporation of Japan and the 508 rotor casting aluminum machine from Taiquan of Taiwan, marking the beginning of its first technological transformation from manual production to automated manufacturing.
In 1998, the construction of the Beilu 66 factory area was purchased and initiated, and gradually graduated from domestic and foreign household refrigerator compressor customers such as air-cooled machine, Dongbao Motor, Zanussi, and Xinfei.
On November 15, 2005, Zhejiang Dibe Electric Co., Ltd. was established, entering the commercial refrigeration field. It has successively provided commercial compressor motors for Xingfa and Danfoss.
In 2006, it was an enterprise that provided sealed motors for rotary and scroll household and commercial compressors in the commercial refrigeration field for Duling of Italy. In 2007, we mastered the technology of variable frequency motors and developed variable frequency refrigerator compressor motors for Xijiabella.
At the end of 2007, with the rapid increase in the company's scale and business efficiency, the company initiated a shareholding system reform. The shareholding system reform was completed on December 18, 2008. In June of the following year, Wu Huanzheng joined the company and served as the person in charge of the enterprise.
In 2010, the production and sales volume of motors exceeded 6 million, and the output value surpassed 500 million, ranking among the leading positions in China.
Strategic Development period: 2011-2021
On April 17, 2011, the founding conference of Zhejiang Dibei Electric Co., Ltd. and the first project were held. The company's annual motor production exceeded 10 million units in 2016.
On March 5, 2013, the company's IPO was approved by the China Securities Regulatory Commission. On May 3, it was listed on the Shanghai Stock Exchange, raising 250 million yuan and becoming the first listed company in the domestic compressor seal motor industry.
In 2017, a project was initiated to develop motor drive and control products. On May 21, 2018, Zhejiang Dibei Intelligent Control Technology Co., Ltd. was established, officially entering the field of motor drive control. In the same year, Shanghai Tuopu Kedong Technology Co., Ltd. was set up.
On August 5, 2019, the company's convertible bond issuance review was unconditionally approved by the China Securities Regulatory Commission, raising 230 million yuan for two industrial projects: high-efficiency variable frequency compressor motors and variable frequency compressor motor controllers, as well as intelligent manufacturing transformation and the construction of an information management platform.
In 2021, the production and sales volume exceeded 16 million units, and the output value surpassed 1 billion yuan. The products were favored by domestic and foreign customers such as Danfoss, Duling, Invate, Panasonic, Bitzer, KKC, HCB, Xingfa, Daming, and Datong.
The period of transformation and leap from 2022 to 2030
Core objective: Digital transformation and an output value exceeding 2 billion.
The realization approach: One completeness and two strengths, namely, complete product categories, strong technology, and strong manufacturing.
Comprehensive product range: Fully covering all categories of sealed motors (fully sealed piston type, fully sealed rotor type, fully sealed scroll type, semi-sealed scroll type, screw type, centrifugal type).
Strong technology: Integrated motor control, high-efficiency and energy-saving motors, expanding the field of mobile refrigeration.
Strong manufacturing: digital manufacturing, lean manufacturing, green manufacturing.
