Zhejiang Fanhar Electronics Co., Ltd. was established in 2014 and is a national high-tech enterprise specialising in R&D, manufacturing and sales of relays. Relays are used extensively in a variety of fields, including smart homes, industrial control, photovoltaic energy, charging posts, smart meters and more.

The company now employs a team of nearly 500 people and operates 19 fully automated production lines. It exports 40% of its products to more than 20 countries. To remain close to customers and market demand, we are continuously seeking improvements in products and manufacturing technology. We invest 6% to 8% of our annual sales in R&D improvements.

The company has been awarded the titles of National High-Tech Enterprise and Provincial Innovation-Driven Enterprise. Innovation is a key driver for the survival and development of enterprises, and the company has obtained over 30 national utility model and invention patents.

We anticipate a turnover of RMB 0.07 billion in 2021, RMB 0.1 billion in 2022, representing a year-on-year growth of 40%, and RMB 0.16 billion in 2023. Our target turnover for 2024 is RMB 226 million.