A low-temperature valve manufactured by Neway Valve (Suzhou) Co. [Photo/WeChat account: snd-szgxqfb]

Suzhou New District-based Neway Valve (Suzhou) Co has broken the monopoly held by foreign companies in the industrial valve manufacturing industry, local media reported on Feb 27.

The company, which has a team of 233 research and development personnel, has obtained over 160 valid patents and 47 invention patents since its inception.

According to the company's technical director, Zhou Guilin, Suzhou's favorable business environment and robust talent support policies have been instrumental to its success. "Innovation has always been our guiding light in moving forward," he said.

The company's low-temperature valves have undergone rigorous testing at minus 196 degrees Celsius conditions in an ultra-low-temperature laboratory. "We've successfully filled a significant gap in the domestic market and are even exporting these products overseas," Zhou said.

In 2022, the company's annual production capacity was 600,000 units, and its products were sold in over 90 countries worldwide. In January 2023, orders received by the company hit a record high.

Neway Valve was selected as a "National Intellectual Property Demonstration Enterprise" by the China National Intellectual Property Administration in 2022.