Baotou-based Inner Mongolia North Heavy Industries Group reported operating revenue of 5.53 billion yuan ($799 million) for the first 11 months of 2019, of which foreign trade accounted for 946 million yuan, a year-on-year increase of 28.78 percent, according to a report in the Baotou Daily.

A spokesman for the company said it made great strides in expanding into the global market, with the company last year landing overseas contracts worth more than 200 million yuan.

He said that the company had a research and development philosophy that was market-led and customer-centered.

In line with that approach, the company attached more importance to the R&D of key products and new products -- to increase their contribution to revenue growth -- developing 95 scientific research projects at the Class A or above level.

Established in 1954, Inner Mongolia North Heavy Industries Group was one of 156 key national enterprises established during the first Five-Year Plan period (1953-1957).

The company is engaged in special steel smelting, extrusion, casting, forging and machinery. It operates in an area measuring 350 square kilometers and has total assets of 15.3 billion yuan.

It currently employs more than 15,000 people and operates 9,300 sets of equipment and devices, with gross revenues of more than 10 billion yuan.

The main businesses of the company includes manufacturing weapons and equipment, special steel and augmented products, as well as mining trucks and engineering machinery.