Shandong Luyin New Materials Technology Co., Ltd. (formerly Laiwu Steel Group Powder Metallurgy Co., Ltd.) was founded in 1987. After years of construction, reform and development, it has now become a production capacity of 200,000 tons of steel powder. It is currently in Asia. A large-scale modern production enterprise with large scale, complete varieties, excellent quality, excellent equipment and also has reduced powder making, water atomization powder making, water and gas joint atomization powder making, and inert gas atomization powder making production lines.

The products are mainly used in automobiles, home appliances, chemicals, food, energy, medical devices, precision mechanical parts, magnetic materials, aerospace and other industries. Products are exported to Europe, Japan, South Korea, India, Thailand and other countries and regions, with a domestic market share of 30%.

In line with the development strategy of "building an internationally competitive steel powder supplier", the company devotes itself to research and development and grasps the future technological development direction. It has established a national postdoctoral research workstation, Shandong Province Powder Metallurgy Engineering Technology Research Center, Shandong Province Powder Metallurgy Keys Laboratory, Shandong Engineering Research Center, Shandong Enterprise Technology Center and other R&D platforms. The company has been recognized as a provincial "one enterprise, one technology" R&D center enterprise and Shandong Industrial Design Center. The company's technical R&D center has fully equipped inspection (test) equipment and strong scientific research and development capabilities. It has successively undertaken and completed the national "863" plan, national science and technology support plan, national torch plan, and major special projects for the transformation of independent innovation achievements in Shandong Province. He won 1 second prize of the National Science and Technology Progress Award, 2 first prizes of the Shandong Province Science and Technology Progress Award, and 1 second prize of the China Metallurgical Science and Technology Progress Award. The company now owns 89 national patented technologies, drafts and formulates 4 national standards, and has independent intellectual property rights for steel powder production technology.