Tech R&D drives auto device firm's success

Jiangyin Mould Plastics Group Co Ltd, a car device manufacturer based in Jiangyin in East China's Jiangsu province, has grown from a small company with fewer than 100 employees to a large enterprise with 4,000 staff members, thanks to its pursuit of tech research and development.

The company said it had produced more than five million bumpers for global auto giants as of mid-June.

It plans to continue to invest in R&D to maintain its leading role in the industry. R&D costs accounted for about 3 to 5 percent of the company's annual sales of more than 10 million yuan ($1.5 million) in recent years, much higher than its competitors. It is also involved in 13 research projects with colleges and institutes.