A workshop at the Jiangsu New Victor Industrial Co. [Photo/zjgonline.com.cn]
Jiangsu New Victor Industrial Co, a major spinning machinery manufacturer located in Fenghuang town in Zhangjiagang, Suzhou, East China's Jiangsu province, has made great efforts to innovate itself to achieve robust growth.
The company, which has a research and development team that works on up to five new products every year, presently owns eight invention patents and 69 utility model patents, according to Huang Renbao, the president of the company.
Innovation has helped New Victor overcome the problem of declining orders caused by the COVID-19 pandemic. Lu Jianhua, director of the R&D department, said they had spent over a year to work out an effective and economic method of making Japanese paper yarn. The new product is undergoing trial production and has bright market prospects, Lu added.
The company has also used automated and intelligent equipment to improve productivity and product quality. Its output in 2021 reached 250 million yuan ($37.08 million), thrice as much as when the company was established.
New Victor will accelerate its digital and intelligent transition in the future and is now aiming to generate 300 million yuan in output in 2022, said Huang.