Local manufacturer Taixing Yike Electronic Technology Co Ltd – based in Taixing city's Yaowang sub-district in East China's Jiangsu province – mainly produces square inductor products, coil inductors and other electronic components.
Its products are widely used in new electronic products such as computers, laptops and mobile phones.
Deputy manager Chen Bo said that thanks to technological breakthroughs and a comprehensive market recovery, the company's fully automated production line is now running at full capacity.
Sales hit 20 million yuan ($2.76 million) in Q1 and they're expected to reach 80 million yuan for the whole year.
This year, Yaowang sub-district placed the real economy as the focus of economic development, continuously promoting business growth, as well as its industrial transformation and upgrading.
Although a small and micro enterprise, Jiangsu Pawoer Electric Technology Co Ltd has developed five new products this year with the assistance of Yaowang sub-district.
"We are focusing on improving the competitiveness of our products and developing products based on specific industry needs to increase added value," said Li Weifeng, general manager of the company.
In Q1, Yaowang sub-district recorded industrial invoicing sales of 786 million yuan, fixed asset investment of 430 million yuan and imports and exports worth $6 million, with the growth rates all exceeding 10 percent.