Recently, the Zhejiang Provincial Department of Economy and Information Technology released the second batch of the 2023 list of specialized, sophisticated, and new small and medium-sized enterprises in Zhejiang Province, and Zhejiang Wanxiang Marelli Shock Absorber Co., Ltd. was included on the list.

Specialized, Specialized and New Small and Medium-sized Enterprises refer to SMEs that possess four key strengths: “specialization, refinement, distinctiveness, and innovation.” These “specialized, specialized and new” enterprises have long been focused on and deeply engaged in a specific segment of the industrial chain or a particular product. By addressing shortcomings, strengthening their competitive edges, and filling market gaps in critical links and key areas of the industrial and supply chains, these enterprises serve as an important guarantee for promoting high-quality development of the industrial economy.

Focus breeds expertise. Marelli Shock Absorbers specializes in automotive shock absorbers and has accumulated extensive experience in product R&D and manufacturing. The company boasts strong technical capabilities and advanced production equipment. Its key mature products include conventional shock absorbers, hydraulic cushioning shock absorbers, frequency-valve shock absorbers, and dual-mode (DSV) electronically controlled shock absorbers. These products are supplied in bulk to leading customers, covering both gasoline-powered vehicles, hybrid models, and new-energy vehicles. Last year, the company’s main business revenue accounted for 98.73% of its total operating revenue, and over the past two years, its main business revenue has grown by an average of 76.75%.

Adopt refined management practices. The company has established a sophisticated and highly efficient management system and set of procedures, successfully obtaining certifications under a series of systems—including quality, environmental, occupational health, and intellectual property standards. Leveraging these standards, the company has developed and implemented a continuous, effective, and harmoniously integrated corporate standard system that provides comprehensive and systematic standardized management guidance for all stages of production, service, technology, business operations, and management activities. In the realm of information technology applications, the company has deployed systems such as WMS (Warehouse Management System), ERP (Enterprise Resource Planning System), and OA (Office Automation System). It also utilizes R&D software including CATIA, AUTO CAD, and ABAQUS, thereby enhancing its level of refined management through digitalization and informatization.

R&D drives differentiation. The company’s “DSV Shock Absorber Development” project has resulted in the first domestically produced, mass-manufactured electronically controlled dual-flow hydraulic shock absorber, filling a significant gap in the domestic industry. Users can issue commands via touch-screen buttons on the central control panel to switch between two damping modes pre-set within the shock absorber, thereby achieving a superior driving and riding experience. This represents a key technological breakthrough marking the transition from passive to semi-active shock absorbers. The project completed new-product appraisal and Zhejiang Province’s scientific and technological achievement registration in 2022. According to expert evaluation, this technology is at the leading domestic level and internationally first-class. Currently, development work on a higher-level prototype of continuously adjustable, electronically controlled shock absorbers has been successfully concluded.

We prioritize innovation through substantial investment. The company places great importance on the R&D of new technologies and innovative products, continuously increasing its financial and human resource investments. R&D personnel account for over 20% of the total workforce. We have established a Provincial Enterprise Research Institute and a Provincial High-Tech Enterprise Research and Development Center, and our laboratories have also obtained national CNAS laboratory accreditation. In 2023, the company filed a total of 20 patent applications, including 9 invention patents.

Currently, Wanxiang has three manufacturing single-champion demonstration enterprises: Wanxiang Qianchao Co., Ltd., Zhejiang Wanxiang Precision Manufacturing Co., Ltd., and Wanxiang Qianchao Driveshaft Co., Ltd. It also boasts five national-level “Little Giant” enterprises specializing in niche expertise and innovative technologies: Wanxiang Tongda Co., Ltd., Hubei Dinaistongda Emission Treatment Systems Co., Ltd., Qianchao Senwei Co., Ltd., Wanxiang Digital Intelligence (Chongqing) Co., Ltd., and Wanxiang Intelligent Manufacturing Co., Ltd., along with a number of provincial-level specialized, refined, distinctive, and innovative enterprises. With unique and unparalleled skills in their respective niche segments, these companies master core technologies, are irreplaceable in the industrial chain, and occupy a leading position in the value chain. Each of Wanxiang’s specialized subsidiaries will continue to work hard, further deepening their focus on their core businesses and making persistent efforts in specialization, refinement, uniqueness, and innovation, thereby injecting continuous momentum into Wanxiang’s sustained, high-quality development.