Recently, the 2023 National Private Enterprise Science and Technology Innovation and Standard Innovation Conference - Famous Private Enterprises Assisting in the Construction of a Modern New Hunan - jointly hosted by the All China Federation of Industry and Commerce and the Hunan Provincial People's Government was held in Changsha. The China Federation of Industry and Commerce has released the "2023 List of 500 Chinese Private Enterprises' R&D Investment" and the "2023 List of 500 Chinese Private Enterprises' Invention Patents". Hongfa, with its outstanding performance in the field of technological innovation, has been honored on the list with 19 outstanding Fujian enterprises such as CATL and Dadonghai Industry.

Innovation is the cornerstone of enterprise development and a strong backing for enhancing the core competitiveness of enterprises. Since its establishment, Hongfa has attached great importance to scientific research and innovation work, continuously increasing investment in innovative research and development. The proportion of research and development costs to revenue has been increasing year by year. In 2022, Hongfa has applied for more than 420 patents, and as of now, Hongfa has obtained more than 1900 valid patent authorizations, all of which are better than industry standards.

In the future, Hongfa will fully implement the new development concept, accelerate the industrialization of technological innovation achievements, and make greater contributions in promoting the Healthy China strategy and achieving high-quality development.