Hongyuan adheres to the concept of innovation and development, continuously increases investment in R&D, forming a pattern of two-way and coordinated development of special-shaped steel and off-road wheels.

Hongyuan has established the cooperation with Tianjin Engineering Machinery Research Institute, Wuhan University of Science and Technology and other scientific research institutions to develop 242 kinds of products such as automobile wheel profile steel and accessories, construction machinery wheel profile steel and accessories, and 42 kinds of foreign products. 

Hongyuan participated in the drafting of 7 industry standards including JB/T12904 <<Selection of tires and rims for Earth-moving machinery and off-highway dump truck>>, and participated in the drafting of 6 national standards including GB/T32806 <<General Technical Specifications for Remanufacturing of Earth-moving Machinery Parts and Component>>. Hongyuan was recognized by the government as a high-tech enterprise and a high-growth enterprise.