The First Tractor Company Limited formerly known as the First Tractor Factory, was founded in 1955. It is one of the 156 national key projects built during China’s first Five-Year plan period, and is an oversized enterprise in the agricultural machinery industry of China.

In 1997, after restructuring the tractor-related business, assets, liabilities and personnel, YTO Group carried out the shareholding reform, established the First Tractor Company Limited, and issued H shares overseas, which was listed in Hong Kong on June 23 of the same year. On August 8, 2012, its shares were listed and traded in the Shanghai Stock Exchange, and it became a listed company with "A+H" share in China's agricultural machinery industry.

The company has been awarded the national quality management advanced enterprise, and has got certifications of the quality management system ISO9001, environmental management system ISO14001, occupational health and safety management system OHSAS18001. 

The company has nearly 100 production lines and a strong production capacity of forgings, mechanical processing, assembly and testing. Its leading products cover YTO caterpillar tractors, wheeled tractors, diesel engines, harvesting machinery, special vehicles and other categories. With the advantages of products and technology, the company has always maintained the leading position in the domestic market of large wheel tractor and non-road power products. Its products has been successfully sold to more than 140 countries and regions around the world, making outstanding contributions to China's agricultural machinery industry, agricultural mechanization and rural revitalization.

During the 14th Five-Year Plan period, the company adheres to the guidance of Xi Jinping Thought of Socialism with Chinese Characteristics for a New Era, and follows the strategic development ideas of "innovation-driven, structure optimization, market deep cultivation, and high-end occupation". By building "one base and three platforms", the company has become No.1 agricultural machinery enterprise in China and an outstanding agricultural equipment manufacturing service provider in the world.