The company, formerly known as Nantong Huatai Co., Ltd., was established on May 22, 1994 with the approval of Jiangsu Provincial Economic Restructuring Commission Su Ti Gai Sheng [1994] No.290, and was established by directional fundraising on June 30, 1994.

According to the Reply on Agreeing to Establish Nantong Huatai Co., Ltd., the company's total share capital is 654.38+0.2 million yuan, with a par value of 654.38+0 yuan per share, accounting for 654.38+0.2 million shares. The promoters subscribed for 9,065,438+7,000 shares, accounting for 75. 1% of the total share capital, of which: Rugao Glass Fiber Factory (hereinafter referred to as "Glass Fiber Factory") converted 7,065,438+7,000 shares with some fixed assets and inventory after evaluation. Nantong TAIMES Clothing Co., Ltd. (hereinafter referred to as "TAIMES") and China North Industries Shenzhen Company (hereinafter referred to as "TAIMES") have 2,983,000 shares, of which 6,543,800 shares were raised from Jiangsu Steel Ball Factory, a social legal person, and 6,543,800 shares were raised from 654.38+0.68 employees, accounting for 8.3% and 654.38% of the total share capital respectively. The sponsors of the company are the glass fiber factory, Dumuzid and the North Company, among which the glass fiber factory is the main sponsor of the company.