Jiangsu Caixiang Tools Co., Ltd. was established in February 2021, with Yang Yongfang as its legal representative and a registered capital of 20 million yuan. Its affiliated company, Jiangsu Xinhengtong Electric Tools Co., LTD., was originally registered in Yixing, Jiangsu Province and was invested and established in November 2011. The predecessor of the company was (Yixing Xintongheng Electric Tools Co., LTD.).