Date: 2013-07-31

Technology Centers of Two Wanxiang Enterprises Were Assessed As 2009 Municipal Technology Center

Recently, the technology centers of two subsidiaries of Wanxiang Group Corporation were assessed by Hangzhou Economical Commission as 2009 Municipal Technology Center and will received the from subsidy the government. These two technology center are Automobile Unversal Gimbal Hi-Tech Research & Development Center of Qianchao Company and Wanxiang Automobile Bearings Provincial Hi-Tech Research & Development Center of Wanxiang Precision Industry.

According to the requirement of technological innovation system, 5% of the expenses of Qianchao Company are used for technology development each year, which guarantees the sufficient development capital and provides favorable circulation for the sustainable development of the company through the high added value of the products. It is expected more than 180 million RMB development capital in three years. The products from the research center will achieve 200 patents and increase 35 million investments.

Wanxiang Automobile Bearings Provincial Hi-Tech Research & Development Center of Wanxiang Precision Industry was established in 2001, which is the technology research institute of the company. The research center has Project Engineering Department, Technology Quality Department & Lab., Standardization Room and Technological Documentation Room.

For three years, the technology center of Wanxiang Precision Industry Company has developed 238 new products and the sales of the new products were accumulated to 967.11 million RMB, in which the sales in 2008 were 344.23 million RMB. Insisting on product innovation can keep the sustainable development of the company. Since this year, the technology center has carried out 47 technological projects which were applied in the manufacturing. It greatly improved the production efficiency and saved manufacturing cost.

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