2024 is a crucial year for the implementation of the "14th Five-Year Plan" and also marks the 40th anniversary of Ningbo becoming one of the first batch of coastal open cities in the country. Over the past forty years of striving towards the sea, Ningbo, as one of the most active regions in private economy and innovation, has given birth to a large number of outstanding enterprises and entrepreneurs, who have laid the solid foundation and surging power of China's economy.

Ningbo Evening News and Yongpai launched a series of reports titled "China Galaxy Star Shines in Ningbo Entering Ningbo Listed Companies", focusing on Ningbo's listed companies to present the tenacity and vitality of Ningbo's economy from multiple dimensions, and dissect the genes and passwords of Ningbo enterprises through the cycle and growth.

"The company's domestic and foreign orders have grown rapidly in recent years. The first quarter report revealed that the total orders in hand have exceeded 10 billion yuan, which is the best proof of the company's strategic layout over the years."

Guo Su, the secretary of the board of Ningbo Sanxing Medical Electric Co., Ltd. (hereinafter referred to as "Sanxing Medical"), spoke confidently about the company's performance.

By the end of the first quarter of this year, Sanxing Medical announced that the smart power distribution and utilization business had orders in hand of 12.462 billion yuan, a year-on-year increase of 33.18%.

"Quality is the cornerstone, innovation is the soul," said Guo Su, this is the company's long-term value. Focusing on product quality, customer orientation, and management innovation is the core driving force for the continuous growth of Sanxing Medical.

New products bring new space

 In the company's exhibition hall, the reporter saw that the "Sanxing Technology" display section was particularly eye-catching. Sanxing Medical responds to the national "3060" target, focusing on carbon peak and carbon neutrality, and vigorously invests in the development and layout of the new energy industry, connecting the company's photovoltaic inverters, new energy box transformers, transformers, smart meters, charging piles and other products in the power generation, transformation, distribution, and utilization.

Sanxing Medical Exhibition Hall

This year, with the acceleration of key power grid projects such as the construction of a new round of new-type power systems in the country, Sanxing Medical's layout in the field of smart power distribution and utilization equipment and new energy has entered the harvest period.

Guo Su said that the company focuses on the demand for green electricity use and carbon measurement, independently develops new energy-saving devices with high energy efficiency, and deploys products such as large-capacity box transformers and miniaturized ring network cabinets.

According to the announcement of Sanxing Medical, from January to July this year, the company successively won 7 orders from major customers such as Datang Group, State Grid, and Southern Grid, with a total amount exceeding 3 billion yuan. The miniaturized ring network cabinet has been applied in large quantities in the Middle East market last year.

Following the series circuit on the display board mentioned above, the reporter saw that after passing through the single-phase guide rail meter, three-phase smart meter, collector, and energy controller, they finally arrived at the product of the electric vehicle DC charging pile.

Sanxing Medical Exhibition Hall

" Integrated system of power generation, grid, energy storage, and charging are the business models that the company is gradually building," Guo Su told the reporter. In recent years, Sanxing Medical has accelerated the upgrade of product models, continuously promoting the transformation from the original single equipment products to smart power distribution and utilization overall solutions.

While the revenue of products such as box-type substations, smart meters, and smart terminals has increased, Sanxing Medical has also launched a series of products such as charging piles and energy storage systems. Currently, the DC charging piles cover a full range of 60-480kW, with a conversion efficiency of over 96%.

Not only that, the above-mentioned charging piles are also equipped with an intelligent control system, which can realize the rapid access of charging equipment to various operating platforms in an IoT manner, providing personalized charging, intelligent charging operation, time-sharing leasing, and other one-stop comprehensive services for multiple application scenarios such as shopping malls and hospitals.

Sanxing Medical Intelligent EV Charging Station Control System

Guo Su said that while the domestic power grid renovation and upgrade bring the market opportunities, the overseas market also brings an increase in demand due to multiple factors such as the renovation of aging power grids and the acceleration of new energy grid connection.

Taking Europe as an example, according to IOT ANALYTICS statistics, the penetration rate of smart meters in countries tracked globally is 43%, and the market is growing rapidly, expected to reach 54% by 2030. Many governments have mandated the widespread promotion of the first generation of smart meters, and some countries have entered the stage of deploying the second generation of smart meters.

"The overseas power equipment market has a large space, and the company has been laying out overseas for more than 10 years. The previous focus was on smart meter products at the electricity end, and now it is accelerating the export of new distribution equipment. We won the first overseas distribution order in Saudi Arabia last year, and this year we have broken through the European market and won a transformer project in Greece worth 466 million yuan." Guo Su introduced that since the company started to expand the overseas market in 2013, the local layout for many years has been the foundation, and the smart distribution business and system's big data + AI business are gradually being introduced.

At present, Sanxing Medical continues to focus on five strategic markets: Europe, the Middle East, Latin America, Asia-Pacific, and Africa, with overseas sales covering more than 70 countries and regions worldwide. In addition, it has also established five local factories in Brazil, Poland, Indonesia, Germany, and Mexico, and five sales companies in Sweden, Colombia, Mexico, Nepal, and Peru. Among them, the company has covered 15 countries in Europe, becoming one of the most widely covered Chinese companies in the European market.

High requirements bring high quality

 Guo Su believes that the company has always adhered to the concept that quality is "1".

 "From a macro perspective, the smart power distribution and utilization market has a broad space." She said that the AI era drives digital development, and the end of computing power is electricity, which puts forward higher requirements for power supply and energy quality.

Entering the Sanxing Medical lights-out factory demonstration production line, the reporter saw that from the insertion link to the finished product storage, the process board of Sanxing's digital workshop detailed the state of each order link and production progress; on the production line, nodes such as insertion, post-soldering, single board testing, initial assembly, and final inspection have all achieved modular mechanical production, automatic circulation, and real-time image transmission.

Sanxing Medical Production Line

"The company is in the metering meter industry, compared with ordinary manufacturing, our mechanical positioning accuracy requirements are higher." Tang Xiaofeng, the deputy director of Sanxing Medical's general assembly factory, introduced that the above production line can achieve the production of all product categories for about 200 types of models specifically for the State Grid and Southern Grid, with a pass rate of up to 99.8%.

It is understood that previously, Sanxing Medical invested tens of millions of yuan to build this production line, and the per capita output has increased by about 20 times. At present, the company is vigorously replicating some applications, while the above production line continues to be upgraded, with the goal of achieving full process automation.

"Returning to the company level, we need to practice internal skills and build the underlying logic of core competitiveness." Guo Su said that the company has always adhered to "2 highs and 1 low," ,meaning high quality, high efficiency, and low cost.

While capturing the overseas smart power distribution and utilization market, Sanxing Medical also uses differentiated products to "conquer the world," while meeting the integrated needs of overseas customers through front-end product application scenarios.

For example, in Asia, Africa, and Latin America, the company provides output from meter equipment to AMI software with system integration solutions, meeting the local demand for turnkey projects; in Europe and the Middle East markets, it focuses on promoting the layout of new category businesses, especially the overseas distribution business, to adapt to the needs of high-end markets.

Sanxing Medical Injection Molding Factory Cockpit

Not only that, Sanxing Medical also pursues an efficient systematic operation model, applying IT throughout the entire process from market research to R&D technology, from production to systematic office work, forming 6S refined management.

It is worth noting that Sanxing Medical has also extended the above digital management and standardized operation model to its medical segment.

"Although medical service seems to be an unrelated industry field, the business management philosophy behind it is actually a consistent thread." Guo Su introduced that currently, the company has built 28 hospitals in the East China, Central China, South China, and other places. Medical quality is the first priority, which requires a complete process, standards, and back-end construction.

Guo Su said that Mr. Zheng Jianjiang, the founder, often reminds them to cherish time, continue to promote the construction of disciplines, enhance brand influence, and at the same time, continuously optimize efficiency and costs through refined management.

Among the 28 hospitals of Sanxing Medical, 22 are rehabilitation hospitals, mainly focusing on the field of severe rehabilitation. The hospital focuses on the construction of disciplines and has successively launched a number of new "brain rehabilitation and coma awakening" diagnostic and treatment projects, including DBS surgery (deep brain stimulation surgery), SCS surgery (spinal cord stimulation surgery), skull repair surgery, and ventricular-peritoneal shunt surgery. Hangzhou Mingzhou Brain Rehabilitation Hospital, under its wing, has become a leader in the field of consciousness awakening rehabilitation in China and has been rated as a special training base for brain function detection and regulatory rehabilitation technology by the Chinese Rehabilitation Medical Association.

"In recent years, the company has continued to practice quality + discipline leadership, management + technological innovation in the medical sector." Guo Su said that under the trend of aging, the demand for the rehabilitation medical field will be more prominent in the future. The company hopes to provide more diversified and multi-level high-quality medical services for society and patients.

Disclaimer: All information provided in the article is for reference only and does not constitute any investment advice.