For a long time, in the motor export trade, the EU and the Americas market are promising. However, these regions have high requirements for energy conservation and consumption reduction. The United States, the European Union and other countries and regions have recently introduced regulations to improve the new standards for motor energy efficiency. From June 16 this year, the EU new energy-saving standards for electric motors have been implemented. All newly-listed motors in the EU market must meet high-efficiency standards to save electricity for motor work. Prior to this, US law stipulated that after December 17, 2010, only motors that met ultra-high efficiency standards could enter the US market.
This is a revolution and a test for Chinese motor companies. We are prepared to be full and dare to innovate, and we have achieved perfect scores in this exam. Li Xuefeng, the chairman of our company, decided to develop high-efficiency, ultra-efficient motors and do everything possible to stabilize the European and American markets. In the past two years, the company has invested more than 5,000 RMB in technical reform funds, selected more than 10 technical backbones, and developed new products. This research and development process was completely completed by the company. To this end, the company purchased advanced equipment, precision instruments, and selected high-quality low-loss magnetic conductive materials to improve machining accuracy and improve motor efficiency. In the past two years, after hundreds of trials and repeated trials, the development of ultra-efficient motors and high-efficiency motors has been completed. After the technical transformation, the motor performance increased by 2.7%-3%.
In the first half of the month, we sent products to the European market worth 2 million euros. In the past two days, a new order of 3 million euros has been received. . The company's newly developed high-efficiency motors have won the praise of customers in the European market. This year, the company sold 140 million RMB of products to the European market, with less than 20,000 RMB of product loss. Calculated, the loss rate is less than one ten thousandth.
In the US market, the company's ultra-efficient motors are also recognized by the market. Zhu Limin, the director of the company's foreign trade, said that the company is currently working with four or five influential companies in the United States. This year, the US market is expected to reach about 100 million RMB.
The company's production minister said that the emergence of technical barriers is a crisis and an opportunity. Now, companies that cut corners and cut corners have been eliminated, and companies with backward research are out of the market. Our company's motors have taken the lead in the market. Although the motor standards of the United States and the European Union have improved, the number of customers in the European market has increased by five. These customers are trying out products and are expected to become a new addition to the company's overseas market.
Our motor is one step ahead and has also been recognized in the domestic market. It is understood that in China, motor power consumption accounts for more than 60% of the total industrial power. At present, China is paying more and more attention to energy conservation and emission reduction, and promoting the use of high efficiency motors. In March of this year, the company's low-voltage motor products were listed by the Ministry of Finance and the National Development and Reform Commission as one of the second batch of high-efficiency motor promotion tasks in 2011. End users who purchase the company's products will receive state funding subsidies. Large and medium-efficient motors expand into the domestic market and have policy advantages.
Affected by the international economic situation, the current motor industry is facing a severe test. In the case that the capacity of many domestic motor companies has shrunk, the company's output value has risen steadily. This year, the company's high-efficiency, ultra-efficient motors, non-sparking explosion-proof motors, large and medium-sized high-speed motors and other new products are sold at home and abroad, products in the United States, Germany, the United Kingdom, Finland, South Africa and other 36 countries and regions, the annual total output value will reach 1.6 billion RMB.