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4.2 Billion Yuan Investment Made in Hunan Key Product Innovation Projects in H1

Updated: 2020-07-27

A total investment of 4.262 billion yuan was made in Hunan’s 120 key product innovation projects in the first half of this year, accounting for 65.06% of the total annual target, according to the Hunan Provincial Department of Industry and Information Technology.

More product innovation inputs guarantee a strong product competiveness. A total of 1.127 billion yuan was invested in research and development of the 120 projects, accounting for 26% of the total investment. Breakthroughs were made in 347 key technologies, and 303 innovation patents were authorized. 

The projects have been advancing fast. By the end of June, the investment progress of five cities (prefecture) completed more than 70% of the annual target. Eighteen companies have completed their annual investment targets ahead of schedule, including Hunan Zhaoheng Materials Technology’s PMI foams applied in civil aircrafts and Hunan DK Laser’s anti-high-reflection high-power fiber laser. Forty-two companies completed an investment of more than 70%, and six made an investment of over 100 million yuan. 

Both economic and social returns increased. The sales revenue of the 120 projects hit 12.113 billion yuan in the first half of the year, with a paid tax of 693 million yuan. Twelve companies achieved product sales revenue of more than 100 million yuan. Zoomlion’s intelligent 4.0 project, Sansure Biotech’s COVID -19 test kits, and LY Steel’s lightweight high-quality and high-strength engineering machinery steel project generated proceeds of 4.7, 1.38, 1.13 billion yuan respectively. This year Sany Heavy Industry contracted four all-terrain cranes (SAC16000S) with foreign countries.  

These projects helped promote industrial upgrading. Zhuzhou Times Engineering Plastic has promoted the construction of polymer industrial clusters. Hunan Chiopt Optotech has perfected the industrial chain of artificial intelligence machine vision in the industrial park. Yiyang Mingzhenghong Electronic drives the development of more than 200 upstream and downstream companies. 

Source: enghunan.gov.cn