Strong Q1 boosts economies of Guiyang city and Gui'an New Area

Orders are flooding in at a workshop run by Guiyang Xianfeng Machine Tool Co. [Photo/Guiyang news network]

This year, industrial enterprises in Guiyang and Gui'an New Area have been working flat-out in the current year to meet orders and boost production, demonstrating the resilience and potential of the real economy.

In the first quarter, the industrial output of large-scale enterprises rose 12.4 percent year-on-year, leading the province. What's more, key industries reported a 20.8 percent rise in the first three months, with aluminum processing up by a whopping 55.1 percent and phosphorus chemicals up 41.2 percent.

Currently at manufacturer Guiyang Xianfeng Machine Tool Co, staff members are working full-out assembling and packaging CNC roll grinders, with orders booked through to Q1 next year.

The company has partnered up with local Computer Numerical Control, or CNC manufacturers – employing advanced tools that use computer programming to precisely control machining operations – to develop domestic roll grinders, now exported worldwide to industries including the steel and new energy sectors.

In Q1, it generated 230 million yuan ($31.84 million) in output value, an 8.58-percent increase, with operating profit up 17.6 percent.

Elsewhere, Guizhou High Precision Strip and Foil Technology Co, based in the county-level city of Qingzhen – administered by Guiyang – reported Q1 earnings of 635 million yuan, a 28.39-percent increase year-on-year and a production volume of 34,593 metric tons, up 21.48 percent.

As a result, the manufacturer plans to add new production lines to further boost capacity.

Meanwhile, Guizhou Guicai Innovation Technology Co reported first-quarter revenue of 250 million yuan, a 10-percent increase year-on-year.

The group is now planning a 760-million-yuan investment in a new project to expand its supply chain.