On August 21, 2026, Hangcha Group (603298.SH) and LTMG Group officially introduced their new joint venture sub-brand, Nearsun, during a ribbon-cutting ceremony held in Xiamen for Xiasheng Electromechanical Co., Ltd. The launch marks a new stage in the strategic cooperation between the two groups and represents their joint effort to create new opportunities in the global material handling equipment market.
Nearsun: Staying Close to Customers and Moving Toward a Brighter Future
The name Nearsun combines the ideas of "Near" and "Sun," reflecting the brand's approach to understanding customers, strengthening its industry presence, and pursuing sustainable development.
"Near" emphasizes proximity to the market. It represents the brand's commitment to understanding real operating environments, identifying customers' core requirements, and developing products and services around actual application needs.
"Sun" represents progress, growth, and a shared vision for the future. It reflects Nearsun's pursuit of dependable product performance, consistent long-term service, and continued development alongside its customers and partners.
The establishment of Nearsun comes at a time when the global logistics and industrial sectors are rapidly evolving toward greater efficiency, sustainability, and intelligence. At the same time, customer requirements are becoming increasingly specialized across different markets and application scenarios.
Conventional standardized equipment is often unable to fully address these diverse requirements. Customers are increasingly looking for integrated solutions designed around specific operating scenarios and supported throughout the entire product lifecycle.
Against this background, Nearsun was created to respond to these changing market conditions and address unmet customer needs. Guided by its philosophy of "Listening Closely, Aiming High," the brand aims to contribute to the upgrading and development of the industry.
Combining the Strengths of Hangcha and LTMG
As a strategic platform for the deeper cooperation between Hangcha Group and LTMG Group, Nearsun brings together the complementary capabilities of both companies to establish a dual-engine development model that combines manufacturing expertise with global digital and service capabilities.
Hangcha Group provides a strong foundation in technology development, R&D, lean manufacturing, quality management, and global supply chain operations. Its mature manufacturing systems and established production capabilities support the development of reliable and consistent products.
LTMG Group contributes its experience in construction machinery R&D and manufacturing, digital operations, international marketing, global customer development, and overseas service networks. These capabilities strengthen Nearsun's ability to reach international customers and provide comprehensive support throughout the customer journey.
Through the integration and sharing of resources, the two groups aim to move beyond conventional price-based competition and develop material handling solutions that are more efficient, environmentally friendly, intelligent, and cost-effective.
Standardized Manufacturing and Joint Quality Management
Quality and consistency have been established as key priorities for Nearsun from the beginning. Hangcha Group and LTMG Group have signed manufacturing and quality control agreements covering four major areas: unified production standards, shared quality control systems, coordinated supply chain management, and ongoing product and process optimization.
Nearsun products will be manufactured at Hangcha Group's modern smart manufacturing facilities. By combining Hangcha's established production processes and quality management systems with LTMG Group's R&D capabilities and manufacturing experience, the joint venture aims to ensure strong product stability, durability, and practical performance from the manufacturing stage onward.
This unified approach is designed to provide customers with consistent product quality while creating a solid foundation for the brand's long-term development.
Expanding Global Markets Through Long-Term Cooperation
During the launch event, Tinna, General Manager of Xasheng Electromechanical (Hangzhou) Co., Ltd., noted that the creation of Nearsun is based on the long-standing mutual trust and strategic cooperation between Hangcha Group and LTMG Group.
Looking ahead, Nearsun will concentrate on meeting the requirements of specialized application scenarios in global markets, while maintaining high standards in product quality and customer service. The company will also continue to refine and expand its product portfolio based on market demand.
Jiangwei Pan, representative of Hangcha Group, emphasized that the two companies will further strengthen cooperation in manufacturing, quality management, supply chain integration, and product innovation. Through closer collaboration, both sides intend to enhance Nearsun's presence and influence in its target markets and support sustainable long-term growth.
A New Platform for Global Material Handling Solutions
With the official launch of Nearsun, the two parent companies will leverage their respective resources and capabilities to further strengthen product competitiveness, establish a reliable supply chain ecosystem, and enhance the brand's global service capabilities.
Nearsun will work toward creating an integrated service process covering the full customer lifecycle-from product selection and consultation to delivery and after-sales support-with the goal of providing customers with a convenient and seamless one-stop experience.
The launch of Nearsun represents another important milestone in the strategic partnership between Hangcha Group and LTMG Group. By combining their respective strengths, the two companies are positioning the new brand to explore specialized global markets, respond more effectively to evolving customer requirements, and pursue new opportunities for international growth.
