Oriented toward market and led by technology, the Company develops new product synchronously with customers as its direction to strive for. Engine idler wheel developed by Zhenhua Bearing for VW with annual delivery of 3.3 million sets as a complimentary product has wholly replaced those from internationally renowned bearing producers. Auto transmission shaft roller bearing produced by Zhenhua Bearing has enabled the Company to be the sole domestic strategic cooperative supplier of an internationally renowned transnational firm, and also been sold to auto transmission shaft firms in 10 countries in Americas, Europe or Asia with annual delivery of 40 million sets. Robot harmonic wave gear box bearing developed in recent years has been adopted by major robot manufacturers in multiple countries to substitute imported products gradually. Our cooperation with an America wide renowned mower hydraulic pump producer to provide complimentary parts has lasted 27 years, starting from delivery of a few products at the beginning to sole complimentary product supplier at present, our annual export has reached 15 million US dollars today and life span of our product has exceeded 2 times of similar ones from foreign countries. We will further strengthen the market development of electrically driven bearing and generator bearing amongst new energy vehicle high speed bearings. Till today we have contacted and delivered samples to multiple main manufacturers of new energy vehicle high speed bearings in China. Currently we are closely tracking progress in test in order to start batch production in 2021 smoothly and shape our new growth point.
Zhenhua Bearing commits to future high quality development, will innovate through technical advance and profiting model, proactively develop new business and expand existing business value, explore new mechanism, stimulate new power and achieve new development, to turn into an elite enterprise in the bearing manufacturing industry.