How YINTECH started.
YINTECH, a company which was formerly known for its aluminum extrusion products, had focused mainly on the production of CPU and computer radiators as well as aluminum profiles for home appliances, sports equipment and furniture industries.
In 2005, YINTECH purchased new CNC equipment and hired more personnel. It became a model technology company and started the model helicopter business.
In the same year, YINTECH started the TG450 helicopter project. After 5 months of development and prototype production, the TG450 was officially launched in 2006. Between 2006 and 2011, six models of the TG450 were successfully introduced and sold in large quantities.
History of TJSL, SYNERGY and YINTECH.
In 2004, Todd Bennett and Jason Krause teamed up with Stephen Fan (Hong Kong) and Albert Liu (Hong Kong) to found TJSL R/C LTD in Hong Kong. Stephen was the majority shareholder and CEO of the new company while Albert was the second major shareholder. Together they created SYNERGY, a Hong Kong based model helicopter brand.
In 2005, SYNERGY ́s parent company TJSL contacted YINTECH because of the latter ́s expertise and experience in the production of aluminum profiles, CNC processing, surface
and anodizing processes. Stephen Fan personally visited YINTECH and asked the company to produce all the CNC parts for the N9. This was the beginning of YINTECH ́s business partnership with TJSL.
From 2005 to 2007, YINTECH completed the SYNERGY N9 production in addition to the manufacturing of the N9 upgrade parts, E9 project prototype and their subsequent mass production.
In 2007 Jason Krause left SYNERGY for ALIGN. Todd Bennett introduced Matt Botos to Stephen Fan and Albert Liu as a potential new designer. Unanimously they agreed to hire Matt, who started working for SYNERGY that year.
In 2008-2009, TJSL launched the SYNERGY N5 project. YINTECH completed the N5 prototype development and batch production of 1000 units by the end of 2009 and delivered them to TJSL in good time.
In January 2010, YINTECH received the very sad news that Stephen Fan, the majority shareholder of TJSL and SYNERGY, had died in a tragic racing accident. As a consequence of Stephen’s death, TJSL was unable to settle the outstanding payments it owed to YINTECH.
In March of that year, Albert Liu held a meeting with YINTECH at the TJSL headquarters in Hong Kong to discuss the debt problem between TJSL and YINTECH. YINTECH attended the meeting as the largest creditor.
At this point, all parts and kits were stored in the TJSL headquarters in HK, unpaid.
Stephen Fan's wife, who had become the new official largest shareholder of TJSL- SYNERGY, did not agree to take over TJSL ́s debt to YINTECH.
Consequently, Albert was hoping that YINTECH would agree to take back all N5 supplies to the factory. The aim was to generate revenue from the sale of the N5 helicopters so that the debts to YINTECH could be paid back. Albert offered his help to YINTECH in terms of sales support while Todd Bennett remained to be in charge of the US distribution business.
By June 2010, Albert could no longer offer his sales support due to his busy schedule. As a result, YINTECH took over the full control of all of SYNERGY's business activities.
During the takeover of SYNERGY by YINTECH, Albert also conceded that TJSL- SYNERGY would no longer be able to continue paying Matt Botos as a designer. So, a deal was struck to hand over the US distribution business from Todd Bennett to Matt Botos, allowing Matt to continuously be compensated for his work as a designer.
After 2010, YINTECH became fully responsible for the development of all production molds, part of the prototype design, prototype production, prototype testing, mass production and carton packaging production.
Helicopters and parts were also provided to the factory pilot with all costs covered by YINTECH.
In 2011, Matt Botos became unhappy with the situation and asked YINTECH for the control of the worldwide distribution of SYNERGY. Only when this demand was met would he be willing to continue working for SYNERGY.
After a few email correspondences between Matt, YINTECH and Roger Hamilton (who, at the time, was responsible for the EU and Australia Market), an agreement was reached and Matt continued to work for SYNERGY. He was given the worldwide exclusive distribution right for all SYNERGY products until early 2020 as compensation.
In 2017 Matt Botos and YINTECH simultaneously registered the SYNERGY brand in the US and in China, respectively, in order to make movement of goods easier between the two countries.
The Future of SYNERGY Helicopters and TRONHELICOPTERS.
In 2019, together with a team in Switzerland, YINTECH founded TRONHELICOPTER, which unfortunately resulted in numerous disagreements between Matt Botos and YINTECH and finally, the ending of the long time cooperation.
As far as YINTECH is concerned, business disagreements and a failure by SYNERGY RC distribution to pay a recent shipment of Helicopters and parts were the main reasons that ended a successful long-term partnership. The fact that this shipment where not paid could be considered as fraud.
YINTECH will continue to manufacture, design and release new products in the future, which may also include SYNERGY helicopters, but its focus will be on the high-end output of TRONHELICOPTERS.