Hengyang tractor factory, the predecessor of Hengyang hengtuo Agricultural Machinery Manufacturing Co., Ltd., was founded in 1954. It is a state-owned large second-class enterprise, a key enterprise in the national machinery industry, a key enterprise in agricultural machinery, and an enterprise with self-supporting import and export rights. It is one of the national designated bases for the production of tractors, agricultural transport vehicles, rice combine harvesters, and engineering machinery.

The factory covers an area of 325500 square meters and a building area of 208000 square meters. Advanced and complete production facilities. It has 1582 sets of production and inspection equipment. It has a relatively complete process system and production preparation system for casting, forging, punching welding, machining, heat treatment, painting, assembly, tools, machine repair, power, etc. Automatic and semi-automatic professional production lines have been built for the processing, painting and assembly of clutch shell, box, upper cover and rear cover. It has a production capacity of 30000 walking tractors, 30000 walking variant transporters and 5000 crawler tractors, four-wheel tractors, variant tractors and agricultural transporters.

The products are mainly agricultural equipment, supplemented by handling machinery. It has formed four major product series, including tractors, harvesters, agricultural transport vehicles and forklifts. The registered trademark is "Nanyue". Among them, hunan-12a walking tractor won the National Silver Award for high-quality products in 1982, the "double top ten" and the "golden cow" award for products in 1987; Hunan-124y walking variant transporter, crawler tractor, four-wheel tractor, variant tractor and agricultural transport vehicle have successively won provincial and ministerial quality products. Excellent product performance and reliable quality; Some products are exported to more than 20 countries and regions in the Americas, Europe, Africa, Oceania, Southeast Asia and West Asia.