Isn't Mingzhu Electric State-owned?

Yes According to the query of official website Mingzhu Electric Appliance Co., Ltd., Mingzhu Electric Appliance Co., Ltd. is a high-tech enterprise mainly engaged in R&D, transmission and distribution and control equipment manufacturing, and has become the leading industry of nuclear dry-type transformers and new energy box-type substations in China, and is a state-owned enterprise. The business scope of Mingzhu Electric Appliance includes the manufacture of transformers, rectifiers and inductors.