Zhejiang Inteled Photoelectric Technology Co, a Yiwu-based light-emitting diode (LED) manufacturer, was recently included on the Zhejiang provincial government's list of "hidden champions".

It was the second Yiwu-based enterprise to be included on the list.

The term "hidden champions" was coined in 1990 by Hermann Simon, a German business professor and management consultant. The concept refers to highly successful companies, often market leaders in a specific niche market not known to the wider public.

They are usually small and medium-sized enterprises with products and services that are difficult to imitate or replace.

An exhibition booth for Zhejiang Inteled Photoelectric Technology Co at an industry expo. [Photo/zj.zjol.com.cn]