Ningbo Fidelity Co., Ltd., formerly known as Zhejiang Vacuum Cleaner Factory, was founded in 1989, transformed into a joint-stock system in 1993, and 1996 became the first listed company in China vacuum cleaner industry. Give full play to the advantages of listing, the company acquired and merged a number of enterprises, and built a complementary industrial pattern of "real estate, cement building materials, household appliances, water production and garbage power generation". On March 3, 2009, KLOC-0, the company's "three in and two out" major asset restructuring plan was approved by China Securities Regulatory Commission. After the reorganization, the company's total assets reached 5.63 billion yuan, and it has six holding subsidiaries, including Ningbo City Plaza Development and Management Co., Ltd., Ningbo Real Estate Co., Ltd., Ningbo Chengtou Real Estate Co., Ltd., Ningbo Kehuan New Building Materials Co., Ltd., Ningbo Dafu Electric Appliance Co., Ltd. and Yuyao Saigete Economic and Technological Development Co., Ltd., which is one of the "Ningbo Big Enterprises (Large Groups)" listed as the key cultivation by the Ningbo Municipal People's Government.
At present, the company has "China Well-known Trademark", "National Excellent Brand", "National Inspection-Free Product", a national first-class qualified real estate development company of the Ministry of Construction and the largest "one-stop" shopping and leisure plaza in China.