Hunan Xiangwei New Material Technology Company was founded on December 13, 2019. It is a subsidiary of AMER International Group, which was rated as one of world's top 500 companies. With a registered capital of 2 billion yuan, it is mainly engaged in the promotion of new materials technology, the research and development, production, processing and sales of new metal and non-metal materials, and production, processing and sales of various cables.

The project of Zhengwei New Material Science and Technology Town in Chenzhou City, Hunan province has been invested with 10.6 billion yuan, with an area of about 1,000 mu (666,666 square meters) and a total construction area of about 262,788.68 square meters. It mainly involves the project of precise conductor with an annual output of 250,000 tons, the project of polymer modified material with an annual output of 100,000 tons, the project of flexible copper clad plate, electronic copper foil, special cable and high conductivity new material, and the construction of research institute of green new material. Those projects are planned to be completed in five years.

After the completion, it is expected to achieve an annual sales volume of 30 billion yuan, the tax revenue of 200 million yuan and provide employment for 1,500 people.