Lai Xuchun, legal representative of Lin-gang Everwin, holds the company's business license during an interview. [Photo/WeChat account: shlgguanweihui]

Shanghai Lin-gang Everwin New Energy Technology Co Ltd (Lin-gang Everwin) became the first company to receive a business license from the Lin-gang Special Area Administration for Market Regulation on March 26.

Lai Xuchun, legal representative of Lin-gang Everwin, said that the company will concentrate on key components for new energy vehicles in the Lin-gang Special Area and hopes to generate 10 billion yuan ($1.42 billion) in revenue within five years.

Lin-gang Everwin is among the first six enterprises to receive a business license issued by the newly established Lin-gang Special Area Administration for Market Regulation. It has a registered capital of 30 million yuan.

Its parent company, Shenzhen Everwin Precision Technology Co Ltd (Everwin Precision), is a large-scale manufacturing enterprise focusing on the R&D, production, and sale of intelligent components.

According to Lai Xuchun, the Lin-gang Special Area Administration has helped him solve two problems.

"Our project in the Lin-gang Special Area has been included on a list of listed companies' 2020 non-public stock plans, making it difficult for us to receive a business license in time," said Lai.

He added that it may have taken an entire month to receive the business license before, but in Lin-gang Special Area it only takes one day.

Lai also pointed out that the name "长盈" (Everwin's Chinese name) was written on the business license registered in Lin-gang Special Area, but it cannot be used in companies registered in Shanghai because similar names have already been used by other companies.

"Our companies in both Shenzhen and Kunshan used the name '长盈'," said Lai. He also added that the word "长盈" conveys the company's strategy.

After the establishment of Lin-gang Everwin, Everwin Precision plans to concentrate its domestic new energy vehicle component business in the Lin-gang Special Area and build R&D, manufacturing and sales bases for new energy auto parts in Lin-gang near new energy automobile enterprises such as Tesla, Benz, BMW, SAIC, Geely and CATL.

Lin-gang Everwin has rented a 36,000-square-meter factory in Emerald Park in the Lin-gang Special Area, which is near Tesla's Lin-gang base.

"We plan to invest five billion yuan over the next five years to achieve an output value of 10 billion yuan," said Lai Xuchun.