Is Wuxi Wei Yan Precision Stamping Co., Ltd. a private enterprise?

Wuxi Wei Yan Precision Stamping Parts Co., Ltd. is a private enterprise. Private enterprises refer to profit-making economic organizations whose assets are privately owned and employ more than 8 people. State-owned enterprises refer to production and business units owned, operated or controlled by the state. The most popular explanation is the state-owned unit, while Wuxi Wei Yan Precision Stamping Co., Ltd. is not state-owned, so it is a private enterprise.