The first phase of the project officially commenced operations in August. This major initiative is spearheaded by Luoyang Qiming Superhard Materials Co., Ltd., spanning an area of 100 mu. The site includes production workshops, assembly areas, administrative buildings, and supporting facilities, all focused on the research, development, and sale of synthetic diamond synthesis equipment. Recent visits to the construction site revealed that the main building of the two-span factory has been completed, with exterior work currently underway. Sun Cheng, head of the company's construction department, mentioned that the current phase involves laying hydropower pipelines and constructing equipment foundations. Equipment installation is set to start in late May, with full operation expected by August. Following this, the second and third phases will commence, and the entire project is anticipated to be completed and operational by the end of 2015. The products developed by the company are at the forefront of domestic technology. The main product of the project is the six-faced top press, which applies pressure from six directions to synthesize diamonds. These presses are the primary equipment used in the production of synthetic diamonds, with over 80% to 90% of global synthetic diamonds produced using Chinese six-faced presses. Compared to Western two-faced presses, six-faced presses not only produce high-quality diamonds but also offer cost advantages, making them the preferred choice in the market. The company has a dedicated R&D team of over 30 professionals, and its self-developed 650 series six-faced top press equipment is considered among the best in the domestic market. With a strong market presence, the company aims to produce 500 large-scale six-faced presses annually once the project is completed, positioning itself as the largest producer of such equipment in the country. The project is also expected to have a positive impact on surrounding industries. Synthetic diamonds are widely used in industrial applications, including cutting and drilling tools. Despite a slight decline in domestic demand due to macroeconomic policies, the company has successfully expanded its overseas markets, increasing its international sales from around 20% two years ago to an expected 50% this year. Once fully operational, the project is projected to generate 500 million yuan in annual revenue, with 56 million yuan in profits and taxes, and create over 300 jobs. Additionally, it will stimulate demand in related sectors such as processing, casting, and forging, potentially driving more than 10 small and medium-sized enterprises that supply supporting components like pistons.
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