China Zhongwang obtained 25 patents in 2013, of which 7 were invention patents and 18 were utility model patents.

A patent right is an important intellectual property right, which includes invention, utility model and appearance design. It is tradable in the market as a form of property. The invention patent will extend over 20 years while the other two have a period of validity for 10 years (calculated from the date of application).

The patent technologies obtained by China Zhongwang are related to its special processing technology and advanced equipment, displaying the powerful strength of the Group in the research and development.

Lu Changqing, the director and vice president said, “the patents have enhanced the intangible asset of the Group. The Group always views the technological innovation as the core competitiveness. Built in 1998, the technical center has been equipped with the most advanced research equipment which is worth more than 100 million Yuan. Since it founded, the Group has highly valued the protection of intellectual property and also engaged in cooperating with academic institutions and enterprises. By combining the production, research, development and utilization into a whole, the Group has formed a comprehensive system of industrial chain innovation. After undertaking many national-level research and development projects, the Group has developed a series of patents in the field of new aluminium alloy material, new technology and new procedure. 

According to its financial report, China Zhongwang posted revenue of RMB3.57 billion in the first quarter of 2014, rose by 1.5% compared with the same period of last year. Moreover, the Group realized the gross profit rate of 26.8%, gross profit of RMB956 million and net profit of RMB500 million. It should be noted that the Group also greatly improved the sale of deep-processed products with high technological content and thus further expanded the oversea market. Compared with the same period of last year, the sale volume of deep-processed products was increased by 33% to 15,000 tonnes, driving the export sales revenue to grow by 36.4% to RMB500 million. These achievements are mainly due to the notion of “innovation drives the corporate development”.