BEIJING, Nov. 25, 2024 /PRNewswire/ -- Lingang Economic Development Area in Linyi City of east China's Shandong Province has positioned advanced manufacturing as the backbone of its economic growth in recent years.
By attracting leading enterprises, driving technological innovation, and optimizing its industrial structure, the area has demonstrated dynamic and robust development.
Ucanrely New Medical Technology (Weihai) Co., Ltd is a prime example of this transformation. Anchored by a 140-meter fully servo-controlled production line, the company boasts its production efficiency 75 percent higher than industry standards and technical performance 20 percent above international benchmarks.
Its Phase I operations generate annual sales of 500 million yuan, with products exported to 17 countries. Full-scale production by 2028 is expected to push annual sales beyond 2 billion yuan.
Marquardt Group has established its most advanced smart factory in Lingang area, producing 4 million sets of switches and control systems annually.
Huazhong Pharmaceuticals sets the standard for herbal medicine production with a raw material extraction efficiency exceeding 95 percent.
Meanwhile, Lingang has shifted away from traditional labor-intensive manufacturing, embracing digitization and green initiatives to drive industrial upgrades.
Weihai Joyall Tyre Co., Ltd. has achieved fully automated production, significantly improving both product quality and revenue, with an expected annual output value surpassing 1 billion yuan.
Lingang is also making strides in the renewable energy sector, launching five major energy projects worth a combined 20 billion yuan, covering photovoltaic power and pumped-storage hydroelectricity industrial sectors.
Additionally, the area has built the province's first hydrogen energy technology industrial park, attracting over 20 projects and establishing a complete hydrogen energy supply chain.
The area's economic achievements are impressive. The output of its carbon fiber and composite materials cluster grew by 20 percent year on year, while the profit margin of industrial enterprises above designated size reached 13.2 percent, leading the city. Nearly 70 percent of the area's 83 key projects focus on industrial and technological innovation.
With its open and innovative approach, Lingang is navigating toward broader horizons, offering a compelling model for regional economic growth and manufacturing transformation.
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