As the company’s most important intellectual asset, intellectual property is an important source to promote corporate technological innovation and enhance core competitiveness. Our company pays attention to the acquisition of proprietary intellectual property in the process of R&D. We have our own core technology. Through the efforts of the technical personnel, our company has been granted 1 invention patent and 16 utility model patents independently developed by ourselves in the past three years. In addition, we are applying for 3 invention patents and 11 utility model patents. These intellectual property outcomes are closely related to the core technology and innovation in our company's new product development. They improve our company’s scientific research strength and bring huge economic and social benefits. Many of the patents, such as A Low-Pressure Cut-Off Valve, A Small-Flow Diaphragm Type Balance Valve Regulator, A Simple-Structure Highly-Integrated Pressure Regulating Meter, can increase the gas transmission capacity of pipeline networks, improve the overall quality and flexibility of pressure regulating devices and the safety of gas use, and enhance the convenience of installation and maintenance.
Our company keeps strengthening effective intellectual property protection. We analyze the intellectual property outcomes of our rivals in the industry to provide an important basis for our company's R&D projects. We also actively use existing public intellectual property outcomes and patent information to provide ideas for setting our strategic goals.
So far, our company has developed and manufactured a series of products such as gate stations, high and medium pressure stations, medium and low pressure regulating meter boxes, CNG pressure reducing stations, LNG gasification pressure regulating stations, filling station equipment, pressure regulators, etc. 20 R&D projects were established in the past three years. Among them, 18 projects have finished commercialization, 6 each year on average. We have relevant test reports, inspection certificates, sales contracts, invoices and other documents. Our main customers are major gas companies, including ZhongYu Gas, XG Gas, CNPC and other provincial gas transmission suppliers. The research outcomes have obtained unanimous praise from customers and produced very good economic benefits and social benefits.
In the past three years, our company invested RMB 10,840,200 in R&D, while our gross sales revenue was RMB 204,791,500. Our investment in R&D accounted for 5.20% of our sales revenue in the past three years. In 2020, our revenue from high-tech products (services) was RMB 64.2973 million and our gross revenue was RMB 71.9834 million. The revenue from high-tech products (services) accounted for 89.32% of the gross revenue. Research outcomes have created remarkable economic benefits for our company.
Our company got certified as a Ningbo Enterprise Engineering Technology Center in December 2018. It implements a director responsibility system under the leadership of the general manager, with 4 departments: R&D Department, Technology Department, Project Department, Quality Department. The Quality Department is divided into the laboratory and inspection room. The center director is responsible for the overall management of the Research & Development Center, including the selection, implementation and organization of technical research projects, inspection and acceptance, technical exchanges and cooperation, personnel exchange and training, information management. There are clear responsibilities and coordination among technical departments.
Our company has a flow laboratory, which is advanced at home and abroad. It can test the performance of various pressure regulators strictly in accordance with relevant provisions in the Chinese GB27790-2020 Standards for Urban Gas Pressure Regulators and the European EN334 Standards for Gas Pressure Regulators with Inlet Pressure up to 100bar, including the hydraulic strength, outer seal, static characteristics, durability, flow coefficient, high and low temperature test and diaphragm immersion test on pressure parts, fully in line with the requirements of European CE certification. The laboratory obtained the CNAS Laboratory Accreditation certificate in May 2020.
In August 2021, we set up an advanced physical and chemical laboratory, equipped with the metallographic microscope, low-temperature impact testing machine, tensile testing machine, Rockwell hardness tester, microcomputer-controlled spring tensile testing machine, mobile direct reading spectrometer and other equipment, which can fully meet the needs of R&D and quality control.
Our company has developed a series of R&D organization and management systems, such as the R&D Organization and Management System, R&D Investment Accounting System, Personnel Performance Evaluation and Reward System, etc., and introduced the subsidiary ledger for R&D expenses.
The implementation of these management systems ensures the orderly development of technical research and the timely accurate arrival of research and experiment funds and improves the quality and level of R&D management. We formulated the Management Measures for Industry-University-Research Cooperation and established cooperation with universities and inspection organizations, such as Zhejiang Business Technology Institute and China Gas Appliance Quality Inspection and Test Center. In addition to strengthening industry-university-research cooperation with universities, cultivating students' practical ability and innovative spirit, it also improves our company's R&D ability.