CHINA ZHONGWANG HOLDINGS LIMITED At the end of 2014, the new office building for China Zhongwang Technical Center was officially put into use. At present, the technical center includes research laboratories in the fields of aluminium extrusion products in industrial, aviation and shipping, vehicle and automobile sectors. The brand new office area and advanced office equipment will greatly enhance the hardware strength of the technical center.
China Zhongwang Technical Center is intended to conduct testing on the aluminium extrusion products, develop new product and technology, increase the rate of finished products as well as improve the performance of new-type aluminium extrusion products. The technical center has been in partnership with many research institutes and universities such as Institute of Metal Research of Chinese Academy of Sciences, Shenyang Aerospace University, Northeastern University and Xi'an Heavy Machinery Research Institute.
China Zhongwang Technical Center has been equipped with the advanced research equipment and device worth more than RMB100 million as well as the provincial level postdoctoral research base and national level laboratory. In 2013, China Zhongwang was officially listed in one of the national high-tech enterprises. According to the financial report of the Group, China Zhongwang continued to increase the investment in the research and development in the first half of 2014. Meanwhile, the Group invested about RMB240 million for research and development, accounting for 3 percent of total revenue. China Zhongwang also obtained 11 patents, 4 being inventive patents and 7 being utility model patents.
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