In Xinghua, two tech-driven small and medium-sized enterprises (SMEs) have captured attention by excelling in niche markets: Jiangsu Manrui New Materials and Jiangsu Koning New Materials. Both founded in 2020 by returning university graduates, the firms earned "high-tech enterprise" status in 2022 and were recently named Jiangsu province's "gazelle enterprises" for their rapid growth.
Gazelle enterprises, known for their strong innovation capabilities, novel professional fields, and high growth potential, serve as key indicators of regional innovation vitality.
Jiangsu Manrui New Materials in Xinghua High-tech Zone. [Photo/WeChat account: xinghuafabu]
Manrui specializes in specialty alloy wires for medical devices. Its flagship product, a shape-memory spring wire, outperforms rivals in tensile strength, corrosion resistance, and precision.
After four years of R&D and OEM experience, founder Shen Hao positioned the company in the premium segment, directly competing with imported alternatives. Collaborating with Nanjing Tech University, Manrui invests nearly 10 million yuan ($1.42 million) annually in technological upgrades, transforming its production via smart factories equipped with advanced drawing, heat-treatment, and shaping machines.
The wires now serve as critical components for micro-drives in medical instruments and precision machinery, enabling device miniaturization and enhanced sensing accuracy. With production expected to hit 25,000 metric tons by 2025, the company is expanding into cardiovascular guidewires.
Meanwhile, Koning dominates the release film market, supplying materials for the electronic and new energy sectors. Its fully automated coating lines produce eight release film variants, using proprietary silicone-based coatings with eight patented technologies. Annual sales surged from 54.7 million yuan in 2023 to 85.6 million yuan in 2024, and are projected to exceed 100 million yuan in 2025.
Production equipment used by Jiangsu Koning New Materials. [Photo/WeChat account: xinghuafabu]
These firms exemplify Xinghua's thriving innovation ecosystem, where eight provincial gazelle enterprises now lead in cutting-edge sectors.