Jia Changsheng, Deputy Director General of Invest Shenzhen, met with a delegation led by the general manager of Miracle Automation Engineering and a vice president of Shenzhen QianThai Energy Regeneration Technology, which is controlled by Miracle Automation, on June 13. During the meeting both parties held talks on Miracle Automation’s proposed establishment of a headquarters for the circular economy industry in Shenzhen. Jia said that Shenzhen offers efficient government services and well-established industrial chains and hoped Miracle Automation will study integrating its key business with Shenzhen’s industries and welcomed the company to establish a research institute and a headquarters for its international operations for the circular economy industry in the city.
Headquartered in Wuxi, Miracle Automation was founded in 1984 with registered capital of RMB 370.549434 million. The company was listed on the Shenzhen Stock Exchange in June 2004 and in 2017 generated revenue of RMB 2.458 billion, a net profit of RMB 85 million, and paid taxes amounting to RMB157 million. It is China’s largest automation system integrator in the manufacturing sector and a world-renowned supplier of automated technologies and equipment for the modern manufacturing and logistics sectors. It is shifting its business towards the circular economy, which focuses on circulation and recycling of scraped cars in the automotive aftermarket.