Xu Jinzhang, a retired military veteran from Binjiang town in Taixing city, East China's Jiangsu province, recently secured the sole first prize in the comprehensive track of the 3rd National Veterans Entrepreneurship and Innovation Competition.
The competition was held in Central China's Hunan province on Sept 12-13, involving five tracks. Five projects from Jiangsu participated in the competition.
Xu achieved the highest score of 93.15 in the competition project, centering on annual production of 26,000 metric tons of precision electronics and copper-based new materials for ship antifouling.
Xu is also chairman of Taixing Smelting Plant, which is based in the Taixing Economic Development Zone.
When he became the head of the company in 1993, it was on the brink of bankruptcy. But after three years of hard work, he turned losses into profits.
In 2020, the company invested 140 million yuan ($19.82 million) in technological upgrades, increasing its annual production capacity to 26,000 tons and making the company become the largest production base for precision electronics and copper-based new materials for ship antifouling in China.
The company currently has 226 employees, including nearly 60 retired soldiers.
Xu Jinzhang (2nd R) receives his award. [Photo/WeChat account gh_61f4877c07e9]