On Oct.14, 2008, commissioned by a world famous European electromagnetism company, the high-tech product “Soft Magnetic Component with Middle and High Frequency, Large Current and High Magnetic Conductance” developed by the company in cooperation with the Powder Metallurgy Research Institute of Central South University have finally achieved success through hundreds of experiments in more than half a year. With the test of the foreign authoritative testing institution—EMPA, the sample has reached the requirement of design and operation with some major electrical specifications even surpassing the original sample of the German company. The headquarters has spoke highly of our R&D capability, scientific and technological level and pragmatic style and ranked our company as an important partner.   
　　On Nov.24, the electromagnetism company officially gave us a small production sample order and happily informed us that this was a component for power system with quite excellent market prospect and little impact affected by the global financial crisis. In addition, the purchasing quantity for the next year had already been basically confirmed. They told us to prepare for the mass production.  
　　Since the second half of 2008, the global financial crisis triggered by the American subprime mortgage crisis has gradually become a massive and grim global economic crisis that has put China’s manufacturing and export trade companies under severe threat. Because the major products of the company are automobile components with 80% of them exported to Canada and United States, the company got serious impact. Since Oct.2008, the orders have been cut off, thereby bringing serious impact to the company.   
　　Chairman Mr. Cai stressed at the latest regular meeting that this electromagnetic product had been a strategic product for the customer and taken the lead in the global technology and therefore it is a strategic product as well as a good opportunity for us. The fortunate cooperation with the world famous company has strong practical significance for us to confront with the current economic crisis as well as profound historic meaning for our business philosophy of “Development by Technology”. He further defined the company development direction in two fields—one is to produce high-quality and professional powder metallurgy mechanical components and the other is to make the powder metallurgy new material more professional and powerful with our technical strength. He called on the entire staff to see the great potential of science and technology, conduct more profound research in the work and make the company remain invincible with its scientific strength. (Written by Xiaoxue)