The company was approved by Lu Zheng Shares (1998) No. 25 of the Shandong Provincial People's Government on May 28, 1998, and was jointly initiated by Wendeng Weida Machinery Co., Ltd. (name changed to Shandong Weida Group Co., Ltd. in 2009), Wendeng Kunyu Technology Development Co., Ltd., Wendeng Yushan Welfare Plastic Factory, Wendeng Yushan Real Estate Development Co., Ltd., and Shandong Weida Machine Tool Group Corporation Employee Shareholding Association. The company was registered and established with the Shandong Administration for Industry and Commerce on July 8, 1998, with a registered capital of 40 million yuan. The company is an invisible champion in the global power tool accessories industry, the first batch of individual champion demonstration enterprises in the manufacturing industry of the Ministry of Industry and Information Technology, an intelligent manufacturing pilot demonstration project enterprise, a leader in the domestic NEV charging and switching industry, and a leading provider of intelligent equipment manufacturing, intelligent manufacturing full-process solutions and intelligent control solutions in China. The company is committed to power tools, household appliances, automobiles, electronics, fine chemicals, food and beverage, high-end equipment, military industry and other industries, and to the world's top 500 customers such as Stanley Patek, Bosch, TTI, Makita, etc., of various specifications and models of power tool accessories products such as drill chucks, power tool switches, lithium battery packs, powder metallurgy parts, precision castings, and saw blades; providing one-stop service for power exchange stations from R&D to manufacturing; developing battery packs and management control systems for electric bicycles and other tools in the new energy industry; providing domestic and foreign manufacturers Move Products and services such as automation, logistics automation, warehousing automation, intelligent equipment solutions, and high-end CNC machine tools. The company has successively won honors such as “National Intellectual Property Demonstration Enterprise”, “Intelligent Manufacturing Pilot Demonstration Project of the Ministry of Industry and Information Technology”, “Shandong Province's Centennial Brand Cultivation Enterprise”, “Shandong Manufacturing High-end Brand Cultivating Enterprise”, “Shandong Quality Benchmarking Enterprise”, and “Shandong Houdao Lu Brand Enterprise”.