More than 9.8 billion RMB sales in fiscal 2019 +++ Good results amidst the weakest global economic growth in ten years +++ Record high of export sales +++ Delivery of over 32,000 machines to customers +++ 2020 Management innovation year
March 16, 2020 – Hong Kong – Haitian International Holdings Ltd (“the Company”), one of the world’s largest manufacturers of plastic injection molding machines, announces its annual results as at 31.12.2019.
Global economy and business performance
Under the impact of trade conflicts between the major economies, 2019 was the most difficult year for the global economy since the financial crisis of 2008. Nevertheless, amid the lowest growth of the global economy in the last decade, Haitian Group’s revenues still recorded RMB 9,809.7 million for 2019, a decrease of 9.6% compared to 2018. Although decreased by 6.5% as compared to 2018, the total number of machines delivered to customers in 2019 maintained an impressive level of above 32,000 units.
With regard to overseas markets, the increased international trade protectionism has led to a decline in sales in some regions. However, sales in the Southeast Asian market increased, which in turn led to a record high of export sales of RMB 3,447.7 million in 2019, representing an increase of 2.9% as compared to previous year. The share of export products in total sales has continued to increase, which, as Haitian International considers, confirms as one of its long-term strategies.
Location advantages through globalization
The outbreak of the current coronavirus in early 2020 not only had a negative impact on the global economy, but also cast a shadow over the recovering global economies. However, as Haitian International has been working on globalization for years, our overseas operations centers have developed full business functions, such as manufacturing and distribution, to meet the needs of our local and regional customers.
Digitalization and innovation
2020 will be the year of management innovation at Haitian International. With its main focus on smart manufacturing, the Haitian International factories will accelerate the transformation into a digitized, networked and intelligent enterprise. Last year, Haitian International was added to the list of digitized workshops and smart factories in Zhejiang Province.
At the same time, we have also stepped up our research and development efforts for new products and further researched the overseas market based on “5 centers” such as production, sales, etc.
Mr. Zhang Bin, Executive Director of Haitian International added, “under the premise of continuously shaping technologies and with proven strategy of technology to the point, we will meet the demand of our customers from any niche market and will continue to create added value for our customers by providing better quality and convenient services. We strive to grow and develop together with customers, employees and business partners”.