A Qiqihar-based skates manufacturer will invest 550 million yuan ($79.4 million) in expanding production in the next five years, forecasting bumper winter sports seasons.

Hei Long Ice Skates Manufacturing Co Ltd, a private company, said it would increase its production of skates to 3 million units a year by 2020, and would start to produce snowboards, ski boards and protective equipment.

Its annual ski and snowboard production capacity will be 200,000 units within five years and protective equipment production will hit 340,000, according to the company.