Xu Shenghui founded Xiamen Henglixing Machinery in 2001. The company began as an authorized dealer of Hitachi excavators in Fujian Province and southern Jiangxi Province.

In 2013 the company ventured into the excavator rental business, adopting a rent-and-sell approach. This strategy was in response to the sharp decline in China’s market in 2011, which led to a surge of used machines on the market.

Henlixing drew inspiration from Hitachi Construction Machinery’s operating model in Japan and transitioned from an RSS (Rental/Sales/Service) model to RSSU (Rental/Sales/Service/Used Equipment), providing full life-cycle services for equipment. As the rental business grew, it began diversifying its rental offering..

In 2017, the company entered the aerial work platform (AWP) rental business, working with major brands such as Genie, Dingli, and Sinoboom. To focus on this segment, Xiamen Haifu Leasing Co., Ltd. was established at the end of 2018, specializing in the rental and sales of aerial work platforms.

By 2023, the company ceased its role as a Hitachi excavator dealer and became a pure aerial work platform rental business. Moving forward, the company aims to identify additional suitable rental product categories.

In addition, to leverage its accumulated expertise and technical capabilities—particularly in the refurbishment and remanufacturing of used excavators—the company established Haifu Construction Co., Ltd. in 2017 to engage in the research, development, and production of hydraulic wheeled excavators.

As the domestic competitive landscape continues to evolve, Mr. Xu is also considering expanding the company’s rental business overseas. He is actively engaging with international partners to explore new growth opportunities.