Honghai holds two yarn manufacturing enterprises: Hangzhou Banglian Spandex Co., Ltd. and Zhejiang Lianhong Fiber Technology Co., Ltd. Among them, Banglian mainly produces spandex yarn. Since its establishment, the company has given full play to the institutional advantages of private enterprises, continuously promoted technological innovation and management innovation, which achieved high-efficiency and low-cost expansion. At present, it can produce spandex yarns of different specifications of 10D-1120D, such as matte, semi-matte, glossy, chlorine-resistant, and high-temperature resistant. It is widely used in warp-knitted, weft-knitted, woven, pantyhose and other fabrics. Product performance, last time efficiency and profitability are among the forefront of the domestic industry. It mainly produces various fibers: open spinning, siro spinning, compact siro spinning and various specifications of nylon spandex covered yarn. Lianhong always attaches equal importance to technological innovation and management innovation, and attaches importance to brand management and talent building. Now the company has 2 invention patents, 17 utility model patents, several provincial-level new products, and 1 municipal-level R&D center.