The technology center is not only the lifeline of the enterprise but also the source of technological innovation and the guidance center of production and manufacturing. In the technological innovation activities of the enterprise, the technology center is engaged in research and development. Moreover, it also contributes to the testing center and technology information center. It is the guarantee of our product quality. In the past, we were only able to develop and manufacture non-essential automobile parts. But after heavy investment in innovation and technology, Tianhe Casting Group is stepping into the field of safety parts for electric cars. With the help of our Technology center, we are proud to announce that our project with an electric car company is finally at the mass production stage. The construction and development of the technology center play a vital role in vigorously enhancing the enterprise's independent innovation capability and market competition strength.
Since the establishment of the technology center in 2013, the investment in technology development reached 25.18 million yuan, while achieving product sales revenue of 193.71 million yuan, with the expenditure on technology development accounting for 13% of sales revenue. The data shows that with the increase of the company's investment in technological innovation, the product sales revenue has risen geometrically. The product type has increased from simple die casting products to gravity casting, low-pressure aluminum casting products, and CNC machining valve products. The main product types in our company are aluminum alloy air intake pipes, manifolds, engine housing parts, and transmission parts. In addition, even though our clients are shifting from iron to aluminum alloy, our company still has the advantage and experience of of mass-producing iron casting parts for heavy-duty trucks, agricultural machinery, etc.
Establishing the Technology Centre also enhanced the attractiveness of enterprises to technology talents. For the technology center, a corresponding assessment and incentive mechanism has been established within the company. Based on the project-oriented principle, we create conditions to attract full-time and part-time technical staff to enter the technical innovation team. The technical team is expanding, from 8 people in 2013 to 32 people at present, including 24 full-time employees. In order to more effectively attract highly qualified and skilled talents to enter the technical center, the company proposes generous conditions such as increasing yearly salary and job promotion for technical center personnel outstanding.
The technology center plays a pivotal role in the product development and technological innovation of the enterprise. It has an inseparable relationship with the formulation of enterprise development planning, project decision-making, and demonstration work. What's more, steady improvement in enterprise technology innovation ability and competitiveness. The company attaches great importance to technological innovation and development work. As time goes on, the role played by the enterprise's technological innovation has been gradually shown. Our Technology team has provided several important propositions to our production, such as designing and realizing the use of automatic casting robots. The use of dosing furnaces also helped the company reduce 50% of our casting labor cost. The technology team is dedicated to improving the CNC machining capability. At maximum, with a well-designed process, our CNC Machining operator could run 5 CNC machines at the same time. Since the enterprise has mastered the core technology with independent intellectual property rights, the company has gained long-term cooperation and an outstanding reputation with users and won the title of excellent supplier.
With the strong support of the technology center, the company has become a leader in the industry. Our customer volume is on an upward trend, and our market share is gradually increasing from heavy-duty auto parts to civilian bus parts production, and then to new energy auto parts in 2022.
Post time: Jun-01-2022