A workshop belonging to Chuangneng Electric Technology (Nantong) Co Ltd in Hai'an. [Photo/Nantong Daily]

Chuangneng Electric Technology (Nantong) Co Ltd, established in 2018 in Hai'an, is a subsidiary of Shanghai Huaxin Minfu Automatic Control Equipment Co Ltd, with R&D based in Shanghai and production in Hai'an.

The company specializes in the development and production of automated control systems for the mining industry. Its explosion-proof inverters can operate continuously underground for up to 12 months without failing, earning the company a strong reputation among customers.

In 2023, Chuangneng Electric achieved sales of 210 million yuan ($29.05 million). Its production scale currently ranks among the top five in the industry in China. The company's new factory, completed and put into operation in January this year, is expected to boost sales revenue to over 300 million yuan this year.

Looking ahead, the company's chairman, Le Bin, outlined two key initiatives: expanding into overseas markets, including Russia and Vietnam, and advancing towards an initial public offering. These strategic moves are set to further propel Chuangneng Electric's growth and enhance its competitive position in the global market.