Yichang Qifan Cable aims for 5 billion in annual output
On February 20, Yichang Qifan Cable Company’s newly produced subsea fiber optic cables were wired into a 16-meter diameter cable pool. This is the first batch of such cables to be delivered by Yichang Qifan Cable this year. With a cable output value of 3.72 billion yuan (US$534 million) last year, Yichang Qifan Cable aims to increase that to a total output value of 5 billion yuan by the end of this year.
Workers busy wiring cables into the cable pool. Photo by Tan Xuejiao.
Alongside parent company Qifan Cable (stock code: SH605222) listed in Shanghai, Yichang Qifan Cable was founded in 2020, and mainly manufactures ultra-high voltage subsea cables.
Founded in 1994 and listed in Shanghai in 2020, Qifan Cable is the largest wire and cable enterprise in Shanghai. Now with three plants across Shanghai, Chizhou and Yichang, the company has a combined annual production capacity of more than 10 billion yuan.
More than 97 percent of global Internet traffic relies on subsea cables. According to Grand View Research data, the global subsea cable market size has been growing from 2016 to 2021, with the global market size reaching US$25.4 billion in 2021.
Yichang Qifan Cable subsea cable pool.
Yichang Qifan Cable factory.
