YZJ was established in the form of Jiangyin Shipreparing & Shipbuilding Cooperative by the South Gate canal in Jiangyin (a county town), which finished the single-family-based “Beach Boat Bang” for over 100 years. Since then, YZJ was incorporated by Jiangyin County Transportation Bureau into County Transportation Machinery Plant and developed towards professional shipbuilding industry step by step. During this period, YZJ was specialized in building wood ships and cement ships.
Yangtze River era
YZJ developed itself at this stage by choosing a water area more suitable for its future, in early 1997 set up factory from the Reed bank along the Yangtze River, and moved to ER Bi Zui at the foot of Jiangyin Huangshan. In 1992, YZJ Shipyard was founded. YZJ advanced in development by leaps and bounds after cancellation of ship repair business, removal of demolition business, development of shipbuilding and reorganization and transformation into shareholding system in 1999. In April of 2007, YZJ listed as a Red-chip company with the raised funds through the initial public offer reaching RMB5.5 billion. By the end of 2007, YZJ Group was established.
YZJ was in rapid development during these five years after NYZ put into production by using the funds raised and its shipbuilding capacity. Meanwhile, YZJ took over Changbo Shipyard in 2010, acquired and reconstructed Xinfu Shipyard in 2011 and set up Taicang Yangzi Haizhuang to further enhance consolidation and expansion. By the end of 2012, Old YZJ has also stopped production and completed removal after operation nearly 40 years along the Yangtze river in Jiangyin putting an end in the shipbuilding history of local Jiangyin city.
YZJ has moved into the process of consolidation, improvement and correction after its rapid development, at the same time the Group has formed one main industry and four supporting industrial structure, it’s also the succession stage with the transition of the first generation of leadership team and the succession of the second generation of young leadership team. YZJ has transferred from expansion or rapid growth to steady growth focusing on its shipbuilding industry.