Guizhou Hoph Rock Tools Co, located in Xiaomeng Industrial Park in Guiyang Economic and Technology Development Zone (GETDZ), specializes in the development and manufacturing of high-end rock drilling tools.
Founded in 2014, the company faced initial challenges such as industry-wide price wars and financial constraints. In 2022, it shifted from price competition to competing on technology, quality, and service. Often referred to as "the teeth of engineering", these tools are widely used in rock excavation projects for mining, highways, railways, and hydropower.
The company has so far obtained five invention patents and 24 utility model patents. Through innovations in materials and structural optimization, material costs have decreased by 20 percent, the lifespan of key drill rods has increased by over 30 percent, and high-end products now account for 70 percent of production.
The company has also established a hybrid "technology + market" sales team, which it supports with an independent technical service department, using on-site technical services to expand overseas clientele. Its products are currently exported to more than 20 countries and regions across Oceania, Europe, South America, and Africa, with overseas revenue accounting for 70 percent of total earnings.
The company projects a production value of 145 million yuan ($20 million) by 2026, with revenue growth expected to increase by 35 percent year-on-year. For four consecutive years, production output is anticipated to grow by 30 percent, with current orders scheduled through the end of December.