Walking into the office of Neoway Technology Co. Ltd. on the 43rd floor of Huide Tower adjacent to the Shenzhen North Railway Station in Longhua District, one will be impressed by the scale and wide range of the company’s self-developed Internet of Things (IoT) products and solutions on display.

Founded in 2006 in Longhua’s Dalang Subdistrict, Neoway Technology specializes in the access and communication fields of IoT and provides IoT access and communication products and services to customers such as IoT service providers and intelligent connected product manufacturers. Its products include neoaccess cloud, neopipe cloud, and cellular wireless communication modules and systems.

Neoway Technology’s Vice President Luo Wei poses for a photo in the office of Neoway Technology Co. Ltd. on Huide Tower in Minzhi Subdistrict, Longhua District. Photos by Lin Jianping

With more than 600 employees worldwide, Neoway Technology has R&D centers in Shenzhen, Xi’an, and Songshan Lake in Dongguan.

A major digital economy contributor

Since 2020, Longhua District has been leading digital development among the districts in Shenzhen, becoming the first in the city to propose the building of a “Digital Economy Pilot Zone.”

In August, 2022, Longhua was designated as a core area for the development of the city’s digital economy. According to the statistics from the official website of the Longhua District Government, from January to June this year, Longhua had a total of 1,080 core digital economy enterprises, achieving a total output of 215.44 billion yuan (US$29.6 billion).

Over the course of Longhua’s digital economy growth, Neoway Technology, headquartered in Huide Tower, one of Longhua’s digital economy buildings, has been actively integrating itself into Longhua’s digital landscape by providing scenario-based IoT solutions to help Longhua build a digital government. Such solutions to improving Longhua’s urban governance include intelligent fire prevention and control solutions, buildings surveillance, and the most recent case of monitoring billboards collapse during typhoons.

A scene at the exhibition hall of Neoway Technology.

According to Neoway Technology’s Vice President Luo Wei, the company’s prime operating revenue is counted as part of the output of Longhua’s digital economy. “We’re a direct contributor to the GDP of Longhua’s digital economy; every part of our revenue belongs to the district’s digital economy,” he said.

Luo gives a thumbs-up to Longhua District Government’s support and services to enterprises. “The government has set up an enterprise service center on the 35th floor in Huide Tower, and the center visits companies regularly to inquire about their needs,” Luo told Shenzhen Daily, adding that Longhua’s strength in the manufacturing industry also gives it an edge in terms of industrial support.

Values R&D and innovation

As a high-tech, essentially a product-focused technology company, Neoway Technology has been investing much in research and development. Luo said the biggest investment is in human resources, and the company has a large fleet of technicians and engineers that accounts for over 50% of all its employees. The other big investment goes into the construction of laboratories, as the company’s product portfolio continues to expand.

Products are on display at the office of Neoway Technology.

As the word “Neoway” in the company’s name indicates, Neoway Technology is always finding new ways, in other words, a way of innovation. Luo proudly told Shenzhen Daily that innovation is in the company’s cultural DNA, which drives it to gain insights into clients’ needs and then create value for them.

Additionally, the company attaches great importance to patent applications. To this end, it has a set of incentives in place to encourage engineers and teams to innovate and apply for patents.