Qingdao Hengshun Zhongsheng Group Co Ltd (青岛恒顺众昇集团股份有限公司) is a state-owned enterprise jointly established by the CETIC, the Shandong Electric Power Bureau Material Division, the Qingdao Electric Power Bureau and the Qingdao Transformer Group Co Ltd in 1998. 

It underwent reforms in 2010, and was listed on the Shenzhen Stock Exchange GEM in 2011.

Adhering to a business philosophy of "technology empowers enterprises, while innovation drives development", the company is committed to the R&D and technical innovation of equipment used for power quality improvement and harmonic pollution treatment, and has made a number of great achievements in power quality optimization and green power grids since its establishment. 
After going public, the company has aggressively expanded into overseas markets and invested in Indonesian industrial parks, mining and energy, with a focus on electricity. 

In 2014, the construction of an industrial park in Indonesia commenced. 

In 2015, following the Belt and Road Initiative, and with the aim of replicating the successful experience in Indonesia, the company expanded into southern African countries like Zimbabwe to invest in the development and construction of mineral industrial parks, power plants, power grids and agricultural industrial parks.