Since its establishment, Cologne New Materials has always adhered to independent research and development, achieved remarkable results, and has a sound and effective research and development system and mechanism. They have strong independent research and development capabilities and willingness. They not only increase their research and development investment and operating income year by year, but also continue to add new research and development projects. Patent applications are also accelerating, and it is expected that the number of patents will remain generally stable in the future, with sustained independent research and development capabilities. According to the data, the technological and research and development advantages of Cologne New Materials are mainly reflected in the research and development capabilities of rubber and plastic new material products and advanced production processes. On the one hand, the company is able to develop rubber and plastic materials with corresponding characteristics based on product usage; On the other hand, the company ensures product production efficiency and manufacturing accuracy through advanced production processes and manufacturing equipment.
It is reported that Cologne New Materials has a comprehensive management organization for technology research and development - the Technology Research and Development Center, which is responsible for the unified centralized management of daily research and development related matters of the company. At the same time, each major business unit is equipped with research and development laboratories and expert groups, which can continuously and efficiently focus on technology research and development and have independent research and development capabilities.
In addition, Cologne New Materials is a technology research and development oriented high-tech enterprise. Adhering to customer demand orientation and continuously meeting the application needs of downstream customers for new technologies and products is the driving force for the company's independent research and development. With the continuous promotion of research and development, the company's core competitiveness can be consolidated and improved, laying a technological foundation for stable and sustainable development. Cologne New Materials has a strong willingness to independently research and develop.
It is worth mentioning that the company attaches great importance to product technology research and development as well as R&D team building, continuously maintains high R&D investment, continuously improves product performance and core competitiveness, and has won honors such as national and provincial specialized, refined, special and new "little giant", Shaanxi manufacturing "single champion" demonstration enterprise, Shaanxi technology innovation demonstration enterprise, Shaanxi enterprise technology center, etc. The R&D investment and operating revenue of Cologne New Materials have been increasing year by year. During the reporting period, the company's R&D investment amounted to RMB 14.4751 million, RMB 18.3733 million, RMB 21.8012 million, and RMB 14.199 million respectively. The compound annual growth rate of R&D investment in the past three years was 22.72%, and the number of R&D investment and projects has been increasing year by year. The R&D projects cover major business sectors such as hydraulic combination seals, hydraulic hoses, special vehicles, military and high-speed railways, with comprehensive R&D coverage and continuous and stable innovation investment, laying a technological foundation for the company to continuously consolidate and strengthen its core competitiveness, achieve stable and sustainable development.
Cologne New Materials stated that after the completion of the R&D center for this fundraising project, the company will integrate scientific research resources and technical talents from various business units, utilize existing technological reserves and a deep understanding of cutting-edge industry technologies, and cooperate with advanced R&D equipment to further enhance its existing technological level and R&D capabilities, resulting in a comprehensive improvement of the company's overall technological level and technical feasibility.