The Tongzhou-based Nantong Haixing Electronics Limited Liability Co was named one of the top 100 most innovative enterprises in Jiangsu province on a list recently released by the Jiangsu Science and Technology Development Strategy Research Institute.

The company, which ranked 47th on the list and was founded in 1977, is a specialized company that engages in R&D, manufacturing, and trade and services related to high-performance electrode foil for aluminum electrolytic capacitors. It has established subsidiaries and branches in Sichuan province, Ningxia Hui autonomous region, and Hong Kong.

To be included on the list, companies must excel in four areas including innovation in investment, innovation in output, innovation in performance, and innovation in management.

The institute said that among the top 100 most innovative enterprises, sales of new products accounted for an average of 42.4 percent of total revenue.

Around 90 percent of the entries are high-tech companies, or have high-tech subsidiaries, and all of them have research and development institutions.

All of the companies on the list own intellectual property rights and there was an average of 332.7 patents per company.