On the morning of October 10, 2019, Caidian District, Wuhan City held a project signing ceremony with Lizhong Group. The signing and settlement of aluminum alloy wheel and automotive lightweight aluminum alloy materials projects with a total investment of 1 billion yuan will fill the gap in the wheel manufacturing sector of Wuhan, effectively promote the industrial agglomeration and development of Caidian District, and help the high-quality development of the real economy.

Lizhong Group, founded in 1984, is a multinational enterprise group with more than 30 subsidiaries and a listed company. Focusing on aluminum alloy and deep processing, it has formed three major product segments: casting aluminum alloy, aluminum alloy wheel lightweight and functional intermediate alloy new materials.

Lizhong Wheel Group plans to invest about 600 million yuan, land about 118 mu in Caidian Economic Development Zone, build an intelligent manufacturing factory with an annual output of 3 million high-end cast spinning aluminum alloy wheels, and develop and manufacture aluminum alloy wheels and wheel precision molds. After the project is fully completed, the annual sales revenue can reach about 700 million yuan and the tax revenue can reach 30 million yuan.

Lizhong Alloy Group plans to invest about 400 million yuan, land about 70 mu in Caidian Economic Development Zone, and build a green manufacturing plant with an annual output of 100000 tons of new aluminum alloy automotive lightweight materials. This project mainly focuses on the research, development and manufacturing of cast aluminum alloys, deformed aluminum alloys, and aluminum based functional intermediate alloys. The project will be constructed in two phases. After it is fully completed and put into operation, the annual sales revenue will exceed 1 billion yuan and the tax revenue will be about 26 million yuan.

Chen Xingai, the secretary of Caidian District Party Committee, said in his speech that Lizhong Group is a well-known private enterprise in China that focuses on research, development and manufacturing of casting aluminum alloys and aluminum alloy wheels for the automotive industry, and belongs to a strategic emerging industry. The project signed this time has a large investment scale, has a strong synergy effect in production, operation, technology and other aspects, and is highly consistent with the industrial chain of our district. We will continue to provide high-quality and efficient services for enterprise development, meet the needs of enterprise development, strive to create first-class conditions for enterprise development, fully promote the construction of projects, ensure the early commencement, early completion, early production and early results of signed projects, and ensure that every customer who comes to Caidian can invest, start businesses and develop with ease!

Zang Liguo, Executive Director of Lizhong Group, said that Caidian, with its unique regional advantages, is a Wuhan Auto City and an important area for the Group's strategic layout and development in the central region. We will provide excellent services to Dongfeng Honda, Renault and Wuhan customers, and make contributions to employment and economic development in Caidian District. As the investor of the project, we will make full investment and scientific planning to ensure that the project is well constructed and fast, so as to satisfy the government and customers.

Hao Shengyong, head of Caidian District, signed the project investment agreement with Zang Ligen, chairman of the Board of Directors of Lizhong Group.

Yao Xiaohua, member of the Standing Committee of the CPC Caidian District Committee and director of the District Committee Office, Nie Shaobin, deputy director of the District People's Congress and secretary of the CPC Working Committee of Caidian Economic Development Zone, and Zhao Yongqiang, deputy district chief, attended the signing ceremony.