The thin profit margin was to a large extent due to the complete reliance on expensive imports for the computerized control units - the heart of tools it produced.
Having long realized the problems in producing just low-value components, the group decided to develop the core technology itself and set up a research team in Shanghai as early as 2007.
The group began to market its self-developed i5 series of smart machinery tools with an internet-based control system in 2017. The name "i5" is short for industry, information, internet, intelligence and integration.
"Our i5 system was an important innovation and also a world-leading product," Ju Zhixin, head of the SMTCL smart manufacturing experience center.
Over the past few years, the i5 technology has reduced the company's costs and enabled a new model of profit sharing as all smart machinery tools can connect directly to the internet and function as a smart terminal, allowing real-time transmission of production data, Ju said.
More than 10,000 such smart products were sold by the end of last year. The company has also begun to build "smart manufacturing centers" around the country to profit from the actual time of using the tools.
China has announced a plan to develop advanced manufacturing and promote further integration of the internet, big data and artificial intelligence with the real economy.
The group's new model is a perfect example of such a direction.
【国内英语资讯:Economic Watch: A Chinese manufacturers bittersweet bite of innovation】相关文章:
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