In recent years, private enterprises in Guiyang, capital of Southwest China's Guizhou province, have been seeking long-term development by promoting industrial transformation and upgrading. Guizhou Anda Technology Energy Co (Anda Technology) and Guiyang Zhong'an Technology Group (Zhong'an Technology) are testaments to the efforts made by private enterprises.

"During the first decade after Anda Technology was founded in 1996, although it became the top earner in foreign exchange among private enterprises in Guizhou, it encountered obstacles in developing its traditional phosphorus chemical business such as high energy consumption, low added value, and limited scale," said Liu Jianbo, chairman and general manager of Anda Technology.

The government and relevant departments have encouraged enterprises to embark on the path of transformation and upgrading, supporting the establishment of provincial-level lithium battery research and development centers.

Over the years, Anda Technology has placed a strong emphasis on technological innovation. With much support, Anda Technology has become a leading enterprise in Guizhou's new energy and new materials sector.

The company has developed a new generation of lithium iron phosphate products after several years of research and development, with various technical indicators ranking among the top in the industry. Mass production will gradually commence this year.

Liu said that the company will fully utilize the advantages of phosphorus resources in the province, ensuring stable supply and expanding and strengthening the relevant industrial chain.

Zhong'an Technology, on the other hand, has received orders for photovoltaic cables through May, and contracts have been signed with several large automobile manufacturers.

"This year, we will also establish a new research and development center to produce high-voltage lines for new energy vehicles and electronic detonator lines," said Wang Chuanfu, the factory director of Zhong'an Technology. The company aims to achieve revenue of 4.1 billion yuan ($570.31 million) this year.