The company was originally established as Zhejiang Gongzheng Auto Parts Factory in Taizhou in 1990, focusing on the production of spring brake chambers and air brake valves. In 1995, its double-chamber spring brake chamber gained market recognition. In 1998, the company shifted to original equipment manufacturer (OEM) support, with annual sales exceeding 10 million yuan.

In 2003, it launched research on ABS (Anti-lock Braking System) technology, and mass-produced independent ABS in 2006, breaking the technological monopoly of foreign enterprises. In 2008, it upgraded air dryers; during the same period, it obtained international quality certifications (ISO9001 and TS16949). By 2010, its output value reached RMB 200 million, becoming a core supplier of commercial vehicle brake components in China.

In 2013, its ABS obtained European certification (ECE R13) and entered the European after-sales market. In 2015, its anti-corrosion air brake valves captured 20% of the Southeast Asian market. In 2017, it mass-produced independent EBS (Electronic Braking System) and established an overseas assembly base in Thailand. By 2020, its global revenue hit RMB 800 million, covering 56 countries and regions, with overseas sales accounting for 45%.

In 2022, it launched predictive EBS integrated with millimeter-wave radar. In 2023, it developed an "air-electric hybrid braking solution" for new energy commercial vehicles. In 2024, it built an intelligent production base with digital twin technology. In 2025, it released the industry's first intelligent braking terminal supporting OTA updates, holding 126 patents and becoming a representative Chinese brand in the global commercial vehicle braking sector.