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About UsHangzhou Advance Gearbox Group Co., Ltd. is specialized in designing and manufacturing transmissions and powder metallurgical products, which is one of major high- and new-tech enterprises in China.
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NewsThe first marine gearbox production enterprise in China, with a stable market share ranking first in the country. Successfully developed the first domestic marine gearbox, the first inclined transmission high-speed boat gearbox, and the largest specification marine gearbox in China.
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ProductsThe company is a large key backbone enterprise specializing in the design and manufacturing of gear transmission devices and powder metallurgy products in China, and a national high-tech enterprise.
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R&DThe company focuses on the main business of transmission devices, relies on technological progress, enhances its core competitiveness, and establishes a leading position in the industry.
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Contact UsADVANCE products are marketed in 31 provinces, municipalities, and autonomous regions in China, and exported to 55 countries and regions around the world, with high visibility and reputation both domestically and internationally.
HAGG's institutional and systemic reforms are steadily advancing.
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2016.05.17
—— The signing ceremony for the operational contracting agreement between the Powder Metallurgy Plant and the Automotive Business Division was successfully held.
On the afternoon of May 13, HAGG held a signing ceremony for the operating contract between the Powder Metallurgy Plant and the Automotive Business Division at the company's new conference room on the second floor. General Manager Feng Guang, representing the Group Company (the contracting party), signed the "Internal Enterprise Contracting Agreement" separately with the management teams of the Powder Metallurgy Plant and the Automotive Business Division (the contracting parties). Chairman Mao Jianrong and other senior leaders from the Group Company attended the ceremony. The signing of this "Internal Enterprise Contracting Agreement" marks that our company’s pilot program to refine its internal management mechanism has officially entered the implementation phase.
The Group Company has signed an "Internal Contract for Enterprise Contractual Management" with the Powder Metallurgy Plant and the Automotive Business Unit's management team. This move represents the Group Company's initiative to decentralize accounting units, promote the establishment of business unit structures, and implement a subsidiary-level operational contracting responsibility system—innovating its management mechanisms. The primary arrangement involves the management teams of the Powder Metallurgy Plant and the Automotive Business Unit contributing cash as risk deposits for their contracts. These deposits are tied to the plants' and business units' performance based on a predetermined simulated equity ratio, thereby clearly defining the responsibilities, rights, and incentives of the management teams at both the Powder Metallurgy Plant and the Automotive Business Unit. Ultimately, this approach ensures asset clarity, well-defined accountability, and equitable profit-sharing.
At the signing ceremony, General Manager Feng Guang delivered an important speech. He first emphasized that the implementation of the operating contract responsibility system for subsidiaries and business units—after extensive research and multiple rounds of discussions within the Group—is a key measure in the company’s ongoing efforts to address its weaknesses. This reform initiative is also a vital component of the Group’s broader strategy aimed at boosting enterprise vitality, further enhancing the proactiveness and enthusiasm of employees in production and operations, and ultimately driving overall economic efficiency. General Manager Feng underscored that today’s contract-signing event marks a significant milestone: the Group has entrusted the complete management of production, supply, sales, human resources, finance, and physical assets—including all associated rights, responsibilities, and benefits—to the dedicated teams of the two units (business divisions). This move reflects the Group’s deep trust and high expectations for these teams to deliver outstanding results. Addressing the management teams of the two units, General Manager Feng put forth two key expectations: First, they must fulfill their duties diligently and commit fully to their roles; second, they should remain steadfast in their confidence while adopting a holistic approach to business management. In this pivotal moment, the Group has entrusted approximately 185 million yuan in assets—and nearly 10% of the company’s workforce—to the capable hands of these two management teams. General Manager Feng firmly believes that these teams will rise to the challenge, delivering exceptional performance and tangible benefits that not only reward the company but also inspire pride among all employees. Moreover, General Manager Feng urged every department within the Group to provide robust guidance and unwavering support to the two units, offering expert advice on operational strategies, internal management practices, and financial cost analysis. At the same time, he stressed the importance of actively backing these units in their day-to-day activities, ensuring they have the resources and assistance needed to excel in their respective fields. Finally, General Manager Feng concluded with heartfelt encouragement, expressing his confident hope that both the Powder Metallurgy Plant and the Automotive Business Division will soon achieve remarkable success under their new contract-based management model!
Following this, Mao Jianrong, Chairman of the Group Company, delivered a concluding speech. Chairman Mao first expressed his appreciation for the courage and commitment demonstrated by the Powder Metallurgy Plant and the Automotive Business Division in embracing the operational contracting reform. He also emphasized that the signing ceremony marked a significant step forward in the company's institutional and systemic reforms, holding extraordinary significance for HAGG. Chairman Mao encouraged all employees and staff members of the two units (Business Divisions) to stay confident, embrace new mindsets, and seize the momentum to drive forward. With the comprehensive support from the Group Company, he urged them to successfully implement this pioneering reform of the operational contracting system, thereby laying a solid foundation for the Group’s future institutional and systemic transformations.
Zhao Jihua, Director of the Powder Metallurgy Plant, and Lü Guozhong, General Manager of the Automotive Business Division, delivered statements on behalf of their respective divisions. They pledged to always prioritize the interests of employees and the Group company, fully committing themselves to fulfilling the trust placed in them by company leaders, and wholeheartedly supporting the pilot initiatives aimed at reforming the company's operational structure.
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