On September 29, 2022, the Hangzhou Federation of Industrial Economics, the Hangzhou Federation of Enterprises and the Hangzhou Entrepreneur Association (hereinafter referred to as the "three associations") jointly released the list of 2022 Hangzhou Top 100 High-growth Enterprises. The Revenue Growth of Hangzhou Hongshi Electrical Co., Ltd. in 2021 reached 48.51%, ranking 52nd in the list.

The selection criteria for the top 100 enterprises with high growth in Hangzhou is that the operating revenue will be 100 million to 1 billion yuan in 2021, the revenue growth rate will be higher than 20%, and the R&D expenses of enterprises will not be lower than the average level of the city.Hangzhou's top 100 high-growth enterprises are a strong driving force for urban development and a steady driving force for regional economic growth. They should further promote entrepreneurship, better play the leading role in demonstration and drive, and boost the high-quality development of Hangzhou's economy and society.

This is the second year Hangzhou has relaunched the Top 100 list since last year. At the beginning of this year, “the 2022 Government Work Report” of Hangzhou clearly pointed out that the digital reform should be used to promote the reform in various fields, deepen the construction of the core scene of "urban brain+modern city+future community+dynamic township+future village", "industrial brain+future factory", create a number of practical and functional feature applications, and build a high-quality smart city window.

This is the first time that Hongshi has been listed in the "Top 100 High-growth Enterprises". As an old brand enterprise in the electrical accessories industry and a key listed cultivation enterprise in Hangzhou, Hongshi has consistently maintained a stable development momentum. In recent years, the enterprise has actively carried out technological innovation and product transformation, and has entered the smart home industry. In the future, Hongshi will continue to explore and innovate, always adhere to technological innovation as the vitality of enterprise development, adhere to high-level R&D investment, promote growth with technological breakthroughs, maintain high-quality development trend, play a leading and exemplary role, and drive the further development of the industry and upstream and downstream enterprises.