CASE STUDY TBEA Shenyang Transformer Group Co., Ltd. As a wholly-owned subsidiary of Tebian Electric Apparatus Stock Co., Ltd. (TBEA), Shenyang Transformer Group Co., Ltd. (Shenyang TBEA) is one of the largest transformer manufacturers in China, and a major exporter in the industry with manufacturing and R&D capabilities. Shenyang TBEA is the first transformer company publicly listed in China and has an annual productivity that has reached

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