About us

Our Founder

Xu Wenrong, born in 1935, is the founder of Hengdian Group. He is one of China’s earliest entrepreneurs and a trailblazer in China’s business world, emerging following the country’s economic reform and opening-up. Xu laid the foundations of Hengdian Group in 1975 with the launch of his first silk factory, emphasizing community-building and social welfare. After that came magnet factories, electronics ventures, chemicals, cultural industries, public infrastructure development and more.

In 1996, he founded Hengdian World Studios, now one of the world’s largest film and television production bases, marking a significant step in the Group’s expansion into the cultural sector. Beyond business, Xu has championed the development of local infrastructure and public services, embodying his belief in shared prosperity.

Xu Wenrong is the originator of the “Hengdian Community Economy” model, rooted in the principles of co-creation, co-ownership, and mutual benefit—values that continue to guide the Group’s mission and growth.

Xu was elected as a representative to the National People’s Congress eight times. He has been nationally-recognized as a National Model Worker, an All-China Outstanding Township and Village Entrepreneur, a Chinese Grand Master of Management, as well as a Chinese Grand Master of Technology Economics.

A Leading Chinese Private Enterprise

Hengdian Group is one of China’s largest privately held conglomerates. It abides by a strategy of diversified growth and operational excellence, with a diversified portfolio spanning four primary business areas: electricals and electronics, pharmaceuticals and healthcare, film and entertainment, and modern and financial services.
Hengdian Group is the controlling shareholder in six publicly listed companies: DMEGC Magnetics, Apeloa Pharmaceutical, Innuovo Technology, Tospo Lighting, Hengdian Entertainment and Nanhua Futures. Currently, several more companies are preparing for IPO.

Hengdian is known as the “Magnetic Capital of the World” as well as the “Medical Valley of Jiangnan.” Hengdian Group’s companies operate under a vertically-integrated framework spanning R&D, manufacturing, sales, and service. Together, these businesses develop and advance progress in a wide range of products, from new materials and energy solutions to medical technologies and consumer electronics.

In the cultural sector, Hengdian is home to the world’s largest film and television production base, Hengdian World Studios, and is widely known as “China’s Dream Factory.” Hengdian World Studios offers a comprehensive ecosystem of services including film sets, post-production, cinema operations and talent development.

Our modern services also extend to finance, international trade, and aviation, contributing to the growth of local industries and the broader real economy.

Rooted in Hengdian, Serving the World

Fifty years after its founding, Hengdian Group remains deeply connected to its namesake town of Hengdian. There, Hengdian Group has played a major transformative role in regional development since the early days of China’s reform and opening-up. Over the decades, Hengdian Group has not only created jobs and bolstered the local economy, but also helped shape the area’s industrial landscape, urban growth as well as cultural identity.

Hengdian has been recognized as both a regional and national role model in more than 20 reform and development initiatives. These include its designations as pilot zone and demonstration zone for the National Comprehensive Small Cities Reform and National Film Industrial Park, respectively.

Hengdian’s strategic location—connected by Hangzhou-Wenzhou High-Speed Railway, Hengdian Airport and Jinhua-Yiwu-Dongyang Light Rails —positions it as a growing hub for the global film and entertainment industries. Guided by both industrial and cultural visions, Hengdian Group continues to support Hengdian’s growth into a vibrant modern city and leading destination for film and culture.