Quzhou Aijiren Co eyes doubled turnover in 2019

Quzhou-based Zhejiang Aijiren Technology Inc expects to further expand their overseas market in the next two years. [Photo/aijiren.cn]

Quzhou-based Zhejiang Aijiren Technology Inc, a global supplier of life-science, chemistry, laboratory consumables, expects turnover to double in 2019, local media recently reported.

In 2018 the 10-year-old company generated 25.94 million yuan ($3.76 million), a year-on-year increase of 5 percent.

"Half of our products were exported to overseas market," said Jin Jinwei, president of Aijiren. "In the next two years, we aim to further expand our company and export 70 percent of our products to other countries."

According to Jin, to list in the National Equities Exchange and Quotations, a Chinese over-the-counter system for trading the shares of a public limited company, is an important move for the company's growth in 2017, which also provides Aijiren with confidence to set foot in Chinese capital cities.

By the end of 2017, Aijiren established a marketing branch in Wuhan, capital city of Hubei province, which just secured a $1 million worth of order with an American company.

In October 2018, the Quzhou company set up another marketing branch in Zhengzhou, capital city of Henan province, settling an order worth 5 million yuan with an Indian company.

To satisfy the increasing demand, Aijiren invested 112 million yuan in constructing a new factory in the latter half of 2018, which is scheduled to start operation in May this year.

The company also developed an automatic processing machine, which can produce 15 more products than a skilled worker from a raw material and one worker is capable of operating four to five such machines at the same time.

"We plan to invite clients from Russia, India and other BRICS countries to attend our order-placing meeting this year," noted Jin.