 In order to strengthen the technology innovation ability for the motor business of Welling, we have established our Shanghai Research and Development Centre (referred to as the "R & D Centre" below) in 2011 to carry out the research on the basic technology, core technology and forward-looking technology for our motor business.
According to the strategic plan of the Company, we will continue to invest for more than RMB200 million on the R & D Center for spending on the work of scientific research and innovation until the year of 2015. It is intended to further develop the scope of high and new technology products and create self-developed modern core motor technology. It is our ultimate goal to make the R & D Centre to be a world top R & D institution which could provide technology-driven force for the strategic development of motor business of the Company.
The R & D center has appointed Professor Zhu Ziqiang from the University of Sheffield, who is internationally renowned expert in motor and drive, as the director of the R & D Centre. In the meantime, we have also employed a certain number of Doctors and Masters from overseas to join us to form a research team which is now consisted of an international expert as the team leader and other Doctors and Masters as the backbone members.
In accordance with the human resources training and development plan of the R & D Center, we will select one excellent employee and send him/her to the University of Sheffield for further study of a PhD degree every year. This is a step to promote the training and development of talented people in order to provide strong support with talented personnel and motivity for the development of motor business of Welling.
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