Founded in 1978， Red Eagle Group has more than 20 domestic and foreign enterprises, including Zhejiang Red Eagle Group Co.,Ltd. Zhejiang Mingde New Material Technology Co., Ltd. and Huzhou Zhebao Calcium Technology Co., Ltd. In addition, it also includes Dinglianfang, Zhoushengji, Zhengmaozhai, Baiyuyan Chinese time-honored store, Vietnam Nanying refractory joint venture, Red Eagle Group (Hong Kong) Co., Ltd. , which has a history of 40 years. It mainly focuses on R & D, production, sales, service finalization or amorphous refractories, which is a comprehensive and long-standing brand private enterprise in Huzhou City, supplemented by metallurgy auxiliary materials, food and catering.

The company adheres to the development strategy of chairman of the board, Yu Bingquan, and adheres to taking scientific and technological innovation as the first driving force for the development of the enterprise. At the same time of increasing the investment of scientific research equipment every year, the scientific research team is also expanding. At present, the proportion of the company's junior college education and senior engineering and technical personnel accounts for 43% of the total number of employees. There are new product research projects every year, and R & D funds account for more than 4% of annual sales revenue. Based on this, the company won the honor of provincial new refractory Research Institute in 2013. Since its establishment, it has carried out a large number of effective scientific research work, and has undertaken 8 national torch program projects, 2 national key new products, 2 national innovation funds, 20 provincial priority themes and technological innovation projects, 38 provincial new products, 104 patents (14 invention patents). Its three manufacturing enterprises, Red Eagle, Mingde New Material and Zhebao Calcium, all won the honorary titles of high-tech enterprises. 

Yu Bingquan, chairman of the board of directors, stressed that the company actively implemented the "going out" strategy. In 2001, Nanying Refractory Co.， Ltd. was founded in Vietnam, which became the first batch of enterprises going global in the province. And in 2015, it followed the pace of Baosteel, one of the world's top 500 enterprises, to establish Red Eagle Mingde New Material Technology Co., Ltd. in Zhangjiang, Guangdong Province. Under the condition of attaching great importance to brand cultivation, the company registered the "Red Eagle" trademark in 1998 and registered the trademark in Vietnam, Australia, Japan, Singapore, Austria and other places, which laid a solid foundation for the enterprise's products to go abroad.