On December 12, the signing ceremony for Zhejiang Xiabao Electric Co., Ltd.’s project of an annual output of 2.5 million compressors and 2.5 million air conditioners was held grandly at Cixi Coastal Economic Development Zone. This project marks the first major project secured by Cixi Coastal Economic Development Zone since the implementation of Ningbo’s "No.1 Project" for investment promotion.

It is learned that the signed project focuses on the R&D and intelligent manufacturing of air conditioners and their core components—compressors. It plans to build new modern production lines, fully introduce advanced industry processes and technologies, and strive to improve product energy efficiency and intelligence level. Upon completion, the project will significantly enhance Xiabao Electric’s technological advantages and market competitiveness in the fields of inverter compressors and high-efficiency air conditioners, further consolidating its leading position in the industry.

Located in Phase IV of Cixi Coastal Economic Development Zone, the project intends to add 200 mu of land (approximately 13.33 hectares), and construct digital and intelligent production workshops, office buildings, and auxiliary facilities with a total construction area of about 298,000 square meters, with a planned total investment of 1.02 billion yuan. The project will adopt advanced equipment such as automatic assembly lines, high-speed punch presses, and closed double-point presses, and configure production information management systems like MES, forming an annual production capacity of 2.5 million compressors and 2.5 million air conditioners. It is expected that after completion and commissioning in 2028, the project will achieve an annual output value of approximately 2 billion yuan. Meanwhile, it will effectively drive the coordinated development of local related supporting industries, providing solid industrial support for Cixi to build itself into a "Capital of Smart Home Appliances".