After years of development, Nanning Jinhong Cotton Textile Limited Company has successfully shifted from "Nanning Cotton" (Guangxi Nanning Cotton Textile Printing and Dyeing Factory) to "Jinhong". In the production line with roaring machines, the excellent quality of cotton products, and the showroom full of ethnic characteristics, we have felt the company's vitality of innovation and development. In the workshop, the automation equipment has made possible the continuation, automation, high speed and informatization of the process of cotton textile; the intelligent doffing robot has replaced the manpower and improved the production efficiency... The traditional cotton company born out of Guangxi Nanning Cotton Textile Printing and Dyeing Factory has given out new vigour.
In the past, Jinhong Company also faced the dilemma of "four lows" in product quality, output, production efficiency and labor productivity. “Faced with fierce competition in the textile market, the company always adheres to independent innovation, and continues to make technological progress. In recent years, the company has invested more than RMB800 million to implement technological transformation, and its overall equipment technology has reached the first-class level in the state. Its 41 products such as rainbow yarn series have won the new product and technology progress awards of Guangxi and the city for several times, and another 5 products such as pure viscose series have become famous branded products of Guangxi", said the General Manager, Lu Xibin.
The innovation-oriented concept has made Jinhong walk in the forefront of the national textile industry, ethnic textile industry and Guangxi's industrial development. It has become the top 100 enterprise appointed for producing national trade and national specialty goods certified by the state, as well as a national training base for garment and textile talents. At present, the company, with a total asset of RMB1.776 billion and a net asset of RMB1.01 billion, which is 8 times more than that as it was reorganized, and a per capita labor productivity which has increased by 1.52 times since the reorganization, has become the largest textile producer in Southwest China. It has been included in the top 100 enterprises with strong comprehensive competitiveness and high sales income in cotton textile industry for many years, and selected as top 20 mainstream businesses of China staple fiber blended yarn industry for 2014-2016.
The report of the 19th CPC National Congress puts forward that it is necessary to further reform of state-owned enterprises, develop mixed-ownership economic entities, and turn Chinese enterprises into world-class, globally competitive firms. Lu said that as a state-owned enterprise, under the guidance of the spirit of the 19th National Congress, Jinhong will continue to work hard with its "innovation-driven" focus, in order to continuously improve the quality and efficiency of development under the new normal, and strive to be the vanguard implementing the new development concept, the innovation-driven development and the major national strategy.