Core Insights - A group of "invisible champion" companies in Jiangsu is steadily expanding globally, showcasing "China's intelligent manufacturing" through their core technology advantages in various sectors such as automotive lightweight components, ultra-high voltage equipment, and power semiconductors [1] Group 1: Company Developments - Xinan Technology, a high-tech enterprise specializing in automotive lightweight components, recently went public and has established a factory in Thailand to enhance its global manufacturing footprint [2] - Borui Electric, a leader in power automation equipment, has successfully delivered products to over 70 countries, marking a significant achievement for Chinese ultra-high voltage technology [4] - Yangjie Technology, a national champion in the semiconductor industry, has expanded its overseas presence and is the first in its sector to issue Global Depositary Receipts (GDR), raising $220 million for further development [6][7] Group 2: Financial Support and Risk Management - Financial institutions are providing tailored financial services to support these companies' global expansion, including customized foreign exchange risk management solutions [2][3] - Jiangsu's financial sector has implemented a "one enterprise, one policy" approach to address the foreign exchange risk management needs of high-tech and specialized enterprises, with a significant increase in the proportion of companies utilizing foreign exchange hedging [3] - The People's Bank of China in Jiangsu is promoting cross-border trade and simplifying processes for enterprises, resulting in a substantial volume of trade foreign exchange business [5] Group 3: Policy and Market Trends - Jiangsu Province is advancing its cross-border trade high-level opening pilot, enhancing the efficiency of fund settlement for enterprises [5] - The province has seen a notable increase in the number of quality enterprises engaging in foreign exchange business, positioning itself as a leader in this area [5] - The ongoing support from financial institutions and favorable policies is crucial for these companies as they transition from "China's intelligent manufacturing" to becoming global brands [7]

总监制丨王姗姗 监制丨盛玉红 在有着中国"德企之乡"之称的江苏太仓，超过560家德企在这里扎根，其中包括60多家"隐形冠军"。或 许规模不大、名气不响，但在某一细分领域占全球领先地位——对"隐形冠军"们来说，中国最大的吸引 力是什么？近日，在太仓举行的一场中德经贸合作活动上，一些德企分享了它们的看法。 0:00 摄像 | 李力 剪辑丨李广楠 责编：李磊、卢思宇 制片人丨梁馨文 记者 | 石陌 ...

追溯起来，"隐形冠军雨林"的成功，首先源于中集精准的战略定位。自上世纪90年代起，中集就确立 了"冠军产品引领战略"，即每个业务单元必须在全球细分市场中做到第一或唯一，这与"隐形冠军"之父 赫尔曼·西蒙的理论形成跨时空呼应。 这一战略导向天然适合孵化"隐形冠军"——往往不追求规模扩张，而是深耕利基市场、技术壁垒高、全 球市占率领先。譬如，中集来福士的"蓝鲸1号"半潜式钻井平台、中集青冷特箱的RAP主动式温控航空 箱，均是全球首创或打破国外垄断的产品。此外，中集在液氦储运、无人驾驶登机桥等诸多领域，都取 得全国甚至全球领先。 一家营收1777亿的中国500强企业，如何在成立40多年后，依然在集团的大树下，持续涌现出一片茂盛 的"隐形冠军雨林"? 9月22日，中集集团（000039）(02039)把43年的技术家底摊开在一张雪白的纸面上——《中集集团科技 创新白皮书》(以下简称《白皮书》)正式发布，它试图用一个自我的企业案例回答上述疑问。 这是在一个简朴的集装箱会议室里举行的发布会，发布会上没有炫目的明星站台，没有震耳欲聋的锣 鼓，84页的《白皮书》只有一串串冷静的数字、一页页沉默的专利： 8个国家级制造业单项冠 ...

一家营收1777亿的中国500强企业，如何在成立40多年后，依然在集团的大树下，持续涌现出一片茂盛 的"隐形冠军雨林"? 9月22日，中集集团(02039)把43年的技术家底摊开在一张雪白的纸面上——《中集集团科技创新白皮 书》(以下简称《白皮书》)正式发布，它试图用一个自我的企业案例回答上述疑问。 这是在一个简朴的集装箱会议室里举行的发布会，发布会上没有炫目的明星站台，没有震耳欲聋的锣 鼓，84页的《白皮书》只有一串串冷静的数字、一页页沉默的专利： 8个国家级制造业单项冠军、16家"专精特新"小巨人、2项国家科技进步奖、6331项专利、1家"国家级智 能制造示范工厂"、2家国家"卓越级智能工厂"、2家国家5G全连接工厂及22家省级智能工厂…… 在 "大平台" 层面，中集的布局更显全球化视野：2个国家级企业技术中心、1个国家能源海洋石油钻井 平台研发中心，60余个省部级研发平台，加上北美、欧洲等地设立20个海外研发中心/研究院，并与清 华大学、华南理工大学等高校建立10余个联合研发平台，形成"研究院+技术分中心"的全球化的创新网 络，紧跟世界技术前沿，帮助小兵团实现技术跃迁。中集集团技术中心主任刘春峰对智通财 ...

王宇鹏表示，江苏省在地方对德合作方面一直走在前列，拥有以太仓为代表的多个对德合作园区， 是中德经贸关系深度融合的缩影。希望太仓再接再厉，继续为企业提供宾至如归的服务，吸引更多优质 德企落户，擦亮"中国德企之乡"的金字招牌，为中德经贸关系健康稳定发展增光添彩。 于广生表示，投资促进事务局将发挥国内外资源和平台优势，持续推动德国隐形冠军企业与江苏、 苏州、太仓对接交流，挖掘合作潜力，培育更多合作增长点，实现共赢发展。 孙津说，今天的江苏创新氛围更加深厚、产业生态更加完备、发展环境更加开放，欢迎德国隐形冠 军企业来江苏投资发展，我们将优化营商环境，努力打造适合所有企业发展特别是培育隐形冠军的沃 土。 昨天（9月23日），2025江苏—德国经贸合作交流会暨"隐形冠军·对话太仓"活动在"中国德企之 乡"太仓举行。"隐形冠军"理论提出者、国际隐形冠军协会名誉主席赫尔曼·西蒙，国际隐形冠军协会主 席弗里德曼·霍费希，苏州市委副书记、市长吴庆文，商务部欧洲司副司长王宇鹏、投资促进事务局副 局长于广生，省商务厅副厅长孙津出席。 活动中，赫尔曼·西蒙教授作主题分享，隐形冠军协会合作签约。现场发布了国际隐形冠军企业评 价标准、解读 ...

Core Points - The German SME Headquarters Cluster in Wuhu was inaugurated as part of the 2025 World Manufacturing Conference, aiming to facilitate the "go out, bring in" strategy for Anhui's manufacturing industry [1] - The cluster will focus on German "hidden champion" companies in sectors like automotive parts and high-end intelligent manufacturing, establishing marketing and innovation centers [1] - By 2030, the cluster aims to gather a number of German SMEs, creating an open development model of "German technology + Anhui manufacturing + global market" [1] - A strategic cooperation agreement was signed among various organizations to support the establishment of the cluster [1] Industry Insights - "Hidden champions" refer to small and medium-sized enterprises that are globally leading in niche markets but are not widely known [2] - Hermann Simon, a German management scholar, emphasized the shift of German companies from merely exporting products to establishing local production facilities in China, indicating a significant change in the global value chain [2] - The collaboration between Germany and China is seen as essential for leveraging these changes in the industry landscape [2]

Core Viewpoint - The article discusses the phenomenon of "invisible champions" in Germany, highlighting their significance in niche markets and the recent wave of bankruptcies affecting these companies, particularly in the automotive sector [4][12][31]. Group 1: Definition and Characteristics of Invisible Champions - "Invisible champions" are defined as small to medium-sized enterprises that dominate niche markets but remain largely unknown to the general public [12]. - These companies typically have strong technical capabilities, high product value, and are difficult for competitors to imitate [12]. - Key characteristics include being rooted in small towns, having low employee turnover, and focusing on highly specialized products [13]. Group 2: Comparison of Invisible Champions in Germany and China - Germany has nearly 3,000 invisible champions, with about half located in the country, while China has fewer than 100 [14]. - The article emphasizes that Germany's invisible champions are crucial to its economy, contributing significantly to GDP and employment [24]. Group 3: Recent Challenges Faced by Invisible Champions - The automotive industry, a backbone of the German economy, is experiencing significant challenges, leading to the bankruptcy of several invisible champions [31]. - Factors contributing to these bankruptcies include rising costs due to energy price increases and a shortage of skilled labor as the workforce ages [41]. - The emergence of Chinese automotive manufacturers has also reduced demand for products from German invisible champions, further exacerbating their financial struggles [43]. Group 4: Case Studies of Invisible Champions - Wanzl, a company specializing in shopping carts, holds over 50% of the global market share, illustrating the success of invisible champions in niche markets [17]. - Körber, a leader in high-speed cigarette manufacturing machines, showcases the technological prowess of these companies [17]. - Gerhardi, a supplier of automotive parts, recently declared bankruptcy, highlighting the vulnerabilities faced by even established invisible champions [33][40].

Core Viewpoint - The article discusses the concept of "hidden champions," which are small to medium-sized enterprises that dominate niche markets but remain largely unknown to the general public. These companies are characterized by their strong technological capabilities and high product value, making them difficult to imitate and surpass [7][8][10]. Group 1: Definition and Characteristics of Hidden Champions - The term "hidden champion" was introduced by German scholar Hermann Simon in 1990, referring to companies that hold a leading position in a specific niche market but are not widely recognized [7]. - Hidden champions typically exhibit several unusual traits: they are often rooted in small towns, have low employee turnover, and focus on highly specialized core businesses [9]. - According to Simon's criteria, hidden champions are defined as companies that rank among the top three in their niche globally, have annual revenues not exceeding €5 billion, and are not well-known to the public [10][11]. Group 2: Germany's Dominance in Hidden Champions - Germany is home to nearly half of the world's hidden champions, with around 3,000 such companies globally, while China has fewer than 100 [11][12]. - The strength of Germany's manufacturing sector is attributed to its high-value, technology-intensive production, which has allowed it to maintain a competitive edge in global markets [26][30]. - Small and medium-sized enterprises (SMEs) make up over 99% of German companies and contribute 55% to the GDP, highlighting their crucial role in the economy [30]. Group 3: Challenges Faced by Hidden Champions - Recently, many German hidden champions, particularly in the automotive sector, have faced bankruptcy due to rising costs and increased competition from Chinese manufacturers [42][49]. - The energy crisis exacerbated by geopolitical tensions has led to soaring energy prices, further straining these companies [49]. - The aging workforce in Germany, coupled with a declining birth rate, has resulted in significant labor shortages, with projections indicating a shortfall of up to 7 million jobs by 2035 [49][50]. Group 4: Case Studies of Hidden Champions - Wanzl, a German company founded in 1918, dominates the global market for shopping carts, with a market share exceeding 50% [15]. - Körber, established in 1946, has become the global leader in high-speed cigarette manufacturing machines, showcasing the technological prowess of hidden champions [18][19]. - Flexi, a small company producing retractable dog leashes, has achieved global sales leadership despite having only around 300 employees [37][41].

Core Viewpoint - The article discusses the concept of "invisible champions," which refers to small and medium-sized enterprises that dominate niche markets but remain largely unknown to the general public. These companies focus on high-quality, specialized products and do not seek to expand their visibility or go public [4][9]. Group 1: Definition and Characteristics of Invisible Champions - The term "invisible champion" was introduced by German scholar Hermann Simon in 1990, describing companies that hold a leading position in a niche market with strong technical and product capabilities [9][10]. - Invisible champions typically exhibit unique characteristics: they are often rooted in small towns, have low employee turnover, and focus on highly specialized products that are difficult to replicate [9][10]. - According to Simon's criteria, invisible champions are defined as being among the top three in their niche globally, having annual revenues not exceeding 5 billion euros, and being relatively unknown to the public [10]. Group 2: The Landscape of Invisible Champions in Germany - Germany is home to nearly half of the world's invisible champions, with around 3,000 such companies globally, while China has fewer than 100 [10]. - The article highlights examples of German invisible champions, such as Wanzl, which dominates the global market for shopping carts with over 50% market share, and Körber, a leader in high-speed cigarette manufacturing machines [13][14]. - The strength of Germany's manufacturing sector is attributed to its high-value, technology-intensive industries, which have been cultivated over decades [15][17]. Group 3: Current Challenges Facing Invisible Champions - Recently, many German invisible champions, particularly in the automotive sector, have faced significant challenges, including bankruptcies and layoffs among major manufacturers [20][24]. - Factors contributing to these challenges include rising costs due to geopolitical tensions, such as the Ukraine conflict, and a shrinking labor force as the baby boomer generation retires [26][27]. - The rise of China's automotive industry has also impacted German suppliers, as Chinese companies increasingly opt for local suppliers with competitive pricing and quality [26][27].

Core Viewpoint - The article discusses the concept of "hidden champions," which are small to medium-sized enterprises that dominate niche markets but remain largely unknown to the general public. These companies are characterized by their strong technological capabilities, high product value, and difficulty for competitors to imitate. Germany has a significant number of these hidden champions compared to other countries, particularly China, which has fewer than 100 such companies [9][12]. Group 1: Definition and Characteristics of Hidden Champions - The term "hidden champion" was introduced by German scholar Hermann Simon in 1990, referring to companies that are not well-known but hold a leading position in a specific niche market [9]. - Hidden champions typically exhibit several unusual characteristics: they are often rooted in small towns, have a long history of family ownership, maintain low employee turnover, and focus on highly specialized core businesses [10]. - Simon's criteria for identifying hidden champions include being among the top three in a niche market globally or the top in a continent, having annual revenues not exceeding 5 billion euros, and being relatively unknown to the public [10]. Group 2: Germany's Hidden Champions - Germany is home to nearly half of the world's hidden champions, with around 3,000 such companies globally [12]. - The article highlights examples of hidden champions like Wanzl, which dominates the global market for shopping carts with over 50% market share, and Körber, a leader in high-speed cigarette manufacturing machines [14][16]. - The strength of Germany's manufacturing sector is attributed to its small and medium-sized enterprises, which make up over 99% of all companies and contribute 55% to the GDP [22]. Group 3: Challenges Faced by Hidden Champions - Recently, many German hidden champions, particularly in the automotive sector, have faced bankruptcy due to rising costs and external pressures, such as the impact of the Russia-Ukraine conflict on energy prices [30][34]. - The aging workforce in Germany is leading to a significant labor shortage, with projections indicating a shortfall of up to 7 million jobs by 2035 [36]. - The rise of Chinese automotive manufacturing has also affected the revenues of German hidden champions, as Chinese suppliers offer competitive pricing and quality, leading to a decline in demand for German products [36][37].