The Road to Enlightenment: Behind the 856% Growth

From 643 million yuan and 1.012 billion yuan in 2019 to 2.824 billion yuan and 9.674 billion yuan in 2023, the China company's operating income and total assets have increased by 339% and 856% respectively. Recently, during the city's industrial development observation, Luoyang Xinqianglian was highly praised for its rapid development speed.

Why can Xinqianglian achieve 856% growth in 5 years?

Finding the right industry track and making good use of the capital market are the keys to success. In the early days, Xinqianglian focused on independent research and development of slewing bearings and provided supporting services in the field of marine machinery. In recent years, the company has turned to the emerging industry of wind power bearings, focusing on the research and development, production and sales of large-scale slewing bearings, and quickly stood on the fast track of development. After its successful listing in 2020, the company accelerated its diversified strategies such as expanding production capacity, equipment transformation and industrial chain layout, and embarked on the road to explosive growth.

Finding the right industry track, changing direction, and making good use of capital are these keywords that allowed a township factory with only one factory in 2005 to grow into a national-level leading substitute enterprise and listed company in the domestic wind power bearing field. The success of Xinqianglian created a miracle in the development of private enterprises in Luoyang.

Maybe you've been amazed by its performance! But Xinqianglian has set its sights on new goals. As competition in my country's wind power industry becomes increasingly fierce, they have planned a new "two seas" strategy, namely offshore wind power and expansion of overseas markets. On the one hand, they have expanded overseas markets by setting up import and export companies. On the other hand, they have accelerated the research and development and production of high-end bearings for offshore high-power wind power. This will become a new profit growth point in the next few years and is also the reason why Xinqianglian continues its explosive growth. new path. In the long run, the 856% growth may be just the beginning.

This gives us a lot of inspiration: enterprise development is not limited to the cycle of "start-up, growth, explosion, maturity, decline", but excellent enterprises are breaking this cycle - they can find new competition when the current track reaches its peak. Tao, giving enterprises a new lease of life. From the perspective of industrial development, we should be good at discerning the direction of industrial development, identifying emerging industry tracks with strategic significance and leadership, creating competitive advantages through industrial upgrading, and stimulating new impetus in a targeted manner. In general, although performance doublings and technological breakthroughs are impressive, it is more important to have a vision and a big picture.