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Innovation boosts development of Hai'an enterprises

en.nantong.gov.cn

Updated: 2023-04-17

Enterprises in Hai'an, a county-level city in Nantong, East China's Jiangsu province, are making efforts to advance their innovative development through intelligent reconstruction.

Jiangsu Welm Technology Co Ltd is a local enterprise that has developed new growth points through technical transformation.

The company started building an intelligent factory in 2021 and upgraded its electronic workshops in 2022.

According to Welm, the production capacity of its dust-free factories has risen from about 8 million items to more than 12 million items.

Thanks to the intelligent reconstruction and upgrading of production assemblies, the company's sales have exceeded 1 billion yuan ($145.05 million).

Jiangsu Pulong Magnetoelectricity Co Ltd also set up a research and development center in 2017 and has invested more than 10 million yuan annually in research and development.

Li Jun, chairman of the company, said that innovation is the only way for enterprises to get ahead amid fierce competition.

Last year, the company's sales were valued at 230 million yuan and it was designated a provincial specialized and sophisticated enterprise.

According to local authorities, the county's economy in the first two months has made steady progress. The output value of the industry above the designated size increased by 10.7 percent year-on-year.

In the same period, the county's fixed-asset investment was 15.04 billion yuan, an increase of 6.0 percent year-on-year.