Through market-oriented businesses such as ship repair, financial investment, development and construction, and trade, Rongfa Group has created a fission-type development path for state-owned enterprises. In only one year of 2019, it obtained the external credit rating of AA + enterprise; realized operating income of 6.2 billion yuan and profit and tax of 0.35 billion yuan, up 160 and 80% respectively over the same period of last year.

The transformation of old and new kinetic energy is a strong voice of reform in Shandong under the new normal of China's economy. The West Coast New Area, as the core area, took the lead. Rongfa Group is based on the leading and leading role of state-owned capital, and responds quickly by means of mixed reform.

Qingdao Qianwan Port is located in the hinterland of Qingdao area of Shandong Free Trade Zone, which has the natural advantage of timber trade. Rongfa Group seized the opportunity to set up a supply chain company in cooperation with the president of Qingdao Timber Industry Association, build and operate the northern timber trading center, build the largest timber trading distribution center in the north, integrate surrounding trade resources, and attract nearly 300 timber enterprises including listed companies in Jiangsu Wanlin, Xiamen Xiangyu, Xiamen International Trade, Beixin Building Materials and other industries to settle in, adding a total of 2.9 billion yuan to the new area and realizing a profit and tax of 63 million yuan.

Focusing on collaborative innovation, high-tech, circular economy and other fields, strengthening strategic cooperation with industry leaders is the investment strategy of Rongfa Group. Has established four joint ventures with the Institute of Engineering Thermophysics of the Chinese Academy of Sciences to promoteLight aero-powered engines, ship engines, unmanned aerial vehicles, etc.Collaborative innovation of high-end projects settled in the new district; Invest in Kunlun Green Construction, a leading enterprise in the domestic wood structure industry to be listed, and jointly invest in building the largest assembled wood structure industrial base in the north in the new district. Increase capital and invest in Deshengli Intelligent Equipment, an intelligent manufacturing enterprise to be listed, to help the new district develop intelligent three-dimensional parking equipment and intelligent logistics storage equipment industry, and promote intelligent infrastructure and convenience for citizens' life.

Since 2019, Rongfa Group and its affiliated enterprises have already selected five projects, including the Marine Science Research Center of the Chinese Academy of Sciences and the Beijing-Shandong Shipbuilding Industry Military-Military General Far-reaching Sea Support Base, into the provincial new and old kinetic energy conversion major project library and provincial key projects respectively. Six projects, including Qingdao Blue Intelligent Equipment and Zhongke Ark Unmanned Aerial Vehicle, were selected as key projects in Qingdao.

Speeding up the double recruitment and double introduction and creating a new highland for opening up to the outside world is the mission and responsibility entrusted to the West Coast New Area by the provinces and cities. As a state-owned enterprise in the district, Rongfa Group actively exerts its advantages in project construction and park operation, relying on carriers such as Guzhenkou Science and Education Innovation Zone and Collaborative Innovation Industrial Park to help the new district expand the results of double recruitment and double introduction.

According to statistics, in recent years, Rongfa Group has accumulated cooperation with the Chinese Academy of Sciences, Poly, China Communications, China Construction, China Railway Construction Engineering, Haier, the Third Academy of Aerospace, Beijing Urban Construction, Qilu Transportation, Shandong Expressway, Rongchuang, Vanke, Country Garden, etc. 50 central enterprises, state-owned enterprises and industry leaders have strategically cooperated to attract advantageous projects and advantageous capital to settle in the new area. In 2019, the cumulative utilization of foreign capital was $0.11 billion and domestic capital was $4 billion.

In order to speed up the construction of nests and attract talents, Rongfa Group has undertaken a talent apartment project with a total investment of about 2.5 billion yuan and a total area of 300000 square meters. Among them, the Dr. Estate Project of Haichuang Rongyuan has been put into use, meeting the needs of 100 doctors and academicians to carry bags. The construction of the staff apartment of Qingdao Science and Education Park of the Chinese Academy of Sciences and the Guzhenkou Talent Service Center is being accelerated. At present, a total of 1 foreign shipping expert, 1 academician of the Chinese Academy of Engineering, 29 members of the Ten Thousand Talents Program, 70 doctors and masters, and 232 intermediate or above titles have been introduced.