A staff member at Jiangsu Lihua Machinery Co Ltd operates a production machine. [Photo/WeChat account: weihailing0523]
Manufacturer Jiangsu Lihua Machinery Co Ltd, located in the Hailing district of Taizhou city, East China's Jiangsu province, has been working hard recently to achieve its annual goals and tasks.
The fourth quarter marks the pivotal moment to finalize annual results and set a strong foundation for the coming year.
"From January to October, our company has achieved 70 million yuan ($9.66 million) in sales. With urgency and responsibility, we're committed to hitting the 100-million-yuan annual target by the end of the fourth quarter," said Ma Yukun, general manager of Lihua Machinery.
The company was one of the earliest manufacturers of cylindrical gears in China and it has set its sights on the booming new energy vehicles market.
"At the beginning of this year, we invested 11 million yuan to add three new machines, specializing in the NEV sector," said Zhang Hongbao, deputy director of the production department.
Zhang said the application of the new equipment has boosted production efficiency by about 35 percent, thereby enhancing the quality of output.