A signing ceremony for a project funded by Shanghai Weipu Testing Technology Group Co Ltd took place at the Taicang Port on March 6.

With a total investment of 200 million yuan ($27.81 million), the project aims to establish the production and headquarters base for Weipu Testing's biomedical sector. At full capacity, it is expected to see annual sales revenue of more than 200 million yuan and pay more than 12 million yuan in taxes.

Weipu Testing, founded in 2010 and headquartered in Shanghai's Yangpu district, is a leading player in China's testing sector. The company's core business spans five major areas: advanced manufacturing, biomedicine, beauty and health, environmental protection, and food and agricultural products. With 80,000 square meters of laboratories nationwide, it has established molecular subsidiaries in 30 cities, including Guangzhou, Shenzhen, Suzhou, Nanjing, and Hangzhou.

In 2023, the company achieved 1.46 billion yuan in annual sales, contributing over 70 million yuan in taxes. With 30 percent annual business growth, Weipu Testing is currently in the process of going public, expecting to be listed in 2025.

A signing ceremony for the project is held on March 6. [Photo/WeChat account: TCinvest]