More local firms added to growth list
Print Edition
Twenty more companies from Jiading were put on the list of innovative companies with big growth potential by the Ministry of Industry and Information Technology, bringing the total number of Jiading-based companies on the list to 32.
Among the companies, Sinognss in Jiading New Town has steadily grown into a high-tech enterprise that has independently developed the core technology for Beidou satellite navigation.
Sinognss has been committed to the fundamental research and development of this core technology for many years. Its total research and development expenses were equal to 22.65 percent of the company’s total revenue last year.
Sinognss has more than 100 R&D personnel, accounting for about 33 percent of the company’s employees.
The development and launch of its high-precision Beidou/GNSS module forced overseas companies that make similar products to lower their prices from around 50,000 yuan (US$7,800) per set to less than 10,000 yuan.
It is particularly commendable that the technical level of the high-precision, multi-mode and multi-frequency module developed by Sinognss has received expert approval.
Jiangqiao-based Kindly Medical Devices Co was also on the “big growth potential” list.
Many products have been selected into the recommended list of Beidou basic products for national satellite navigation for many consecutive years.
Last year, the company achieved total revenue of 320.51 million yuan and main business revenue of 30.08 million yuan. The sales revenue of leading products accounted for 74.3 percent of the enterprise’s revenue. The growth rate of main business revenue was 14.8 percent year on year, and the growth rate of net profit was 31.8 percent during the same period.
The company is building an innovation incubation and transformation platform for implants to promote domestic substitution for imports.
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