Recently, Yuchai Machinery Co., Ltd., with its strong independent innovation capability and leading industry research and development capabilities, has passed the certification of state-level high-tech enterprises and has become one of the high-tech enterprises that passed strict examination and approval in 2008. Yuchai Group received two awards for this subsidiary. Another subsidiary is Yuchai Heavy Industry.
The identification of high-tech enterprises needs to go through such steps as declaration, preliminary examination, defense, approval, and publicity. The criteria for identifying the standards include the independent intellectual property rights of the company in core technologies for the past three years, the proportion of highly educated scientific and technical personnel, and the income of high-tech products. And the company’s total R&D expenses accounted for 3 times.
Yuchai's technology research and development has been leading the industry's green development trend and successfully launched China's first national 4, 5 engine with independent intellectual property rights. At the 2008 Beijing Olympics, Yuchai, as the only national 4 engine supplier in the country, won most of the orders, making it even more appealing to national brands. Yuchai received 449 national patents in the past three years and was identified as the third batch of national IP pilot units. The Engineering Research Institute was awarded the title of “National Patent System Advanced Collectiveâ€; Yuchai’s professional and technical team is strong. A total of 63 senior experts, 18 doctors, and more than 100 postgraduates were graduated, with a state-level enterprise technology center and accredited laboratories; Yuchai’s annual R&D expenditure was around 230 million, accounting for 2% to 3% of sales revenue. The industry is at the leading level. Yuchai’s application for “high-tech enterprises†was based on its solid strength and it was controversially adopted.
After obtaining the qualification of a high-tech enterprise, Yuchai’s shares can go to the taxation authority for tax relief and enjoy a 15% corporate income tax rate. On the other hand, this not only enhances Yuchai's brand influence, but also will play a better role in promoting the ability to independently innovate in the future and achieving industrial upgrading and development.
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