A steel ball production line belonging to Jiangsu Lixing General Steel Ball Co in Rugao, Nantong. [Photo/Rugao Converged Media Center]

Jiangsu Lixing General Steel Ball Co, based in Rugao, Nantong, saw skyrocketing growth in sales revenue, growing by around 380 percent year-on-year, local media outlets reported.

"The growth rate was around double the amount in the same period in previous years," said Zhang Bangyou, deputy Party secretary of the company. He attributed the success to the company's focus on innovation since it was reformed in 1989.

According to Su Yinjian, senior executive of the company's subsidiary, every new product will be upgraded every half year in accordance with client demands.

"The balls look almost the same, but is different in curvature, precision, abrasion resistance, and later processing techniques," Su explained.

The company now has several national and provincial-level research and development platforms, and more than 4.5 percent of its sales revenue is used for R&D purposes every year.

The company has already made development plans for the 14th Five-Year Plan period (2021-25), giving top priority to scientific and technological innovation.

Zhang said the company aims to double down on its success by introducing more new products.