1986 In September, with the approval of the Foreign Economic Relations and Trade Commission of Shanghai Municipal People's Government, Shanghai Haixin Co., Ltd., a Sino-foreign joint venture, was established. The registered capital is USD 3,000,000, with the investment of 65,438+05% by Shanghai Toy Import and Export Corporation. Shanghai Songjiang District (then Songjiang County) Dongjing Industrial Company contributed 25%; Shanghai Khyron Investment Development Company invested 65,438+00% (China accounts for 50% of the total investment); Hong Kong Shenhai Co., Ltd. contributes 30%; Hong Kong Fuxin Industrial Co., Ltd. contributed 20% (accounting for 50% of the total foreign investment). Later, according to the needs of enterprise production development, the company increased its capital by more than 7 million US dollars twice in 1990 and 1992, with a registered capital of more than 0 million US dollars 1000, and began to build a production enterprise with a workshop area of more than 24,400 square meters and a workshop building area of 18842 square meters. Mainly engaged in manufacturing and selling plush toys and clothing, artificial fur, nylon velvet, polyester velvet and other textile fabrics. 1September 25th, 1993, it was reorganized into a joint stock limited company with the approval of Shanghai Economic Commission. In that year, the company was registered in 1 1 month, and publicly issued A and B shares to the public. Two years later, with the approval of the superior, Shanghai Haixin Group Co., Ltd. was established, with more than a dozen member enterprises and total assets of about one billion yuan.

After more than ten years of ups and downs and fighting with foreign strong players, the company started from a joint venture with a registered capital of 3 million US dollars, and has formed a vertical industrial chain integrating the production, sales and supporting services of chemical fiber, spinning, sliver making, dyeing, fabrics, toys, clothing and blankets. Now it ranks first among more than 400 plush production enterprises in China, becoming one of the largest producers and suppliers of artificial fur (plush) in China and even in Asia, accounting for 25% of the national export share of similar products.

In the heyday of its main business, enterprises decided to develop across industries, transform from traditional single-variety operation to high-tech, diversified and international large-scale group enterprises, and enter the fields of biomedicine and finance.

In 2002, the company seized the opportunity of international industrial restructuring and China's accession to the WTO, accelerated the pace of optimizing resource allocation on a global scale, and successfully acquired the textile division of American Glenotel Company with a long history of 70 years, making the production scale of Haixin plush clothing fabrics rank first in the world. This is the first time that China textile enterprises have taken the initiative to acquire the leading enterprises of international counterparts with the attitude of being strong and constant, and the enterprises have developed from a traditional single industry operation to a diversified and international multinational enterprise group.