Haitian International Holdings, Limited, one of the world's largest manufacturers of injection molding machines, announced its annual results for 2020 (January 1 to December 31, 2020).
Global economy and business performance
In 2020, the COVID-19 virus outbreak and its rapid spread into a pandemic severely shook the entire global economy. Nearly all countries and all major economies in the world are still reeling from the effects today. With strict preventive and control measures taken by Haitian International, the company was soon able to return to positive growth and normal economic operation. Thanks to this rapid recovery in the economic situation, the entire Group experienced strong, growing demand.
As a result, Haitian International posted a new sales record for the completed 2020 fiscal year, with well over 43,000 machines sold. This represents total sales of RMB 11,800.1 million and a year-on-year increase in sales of 20.3 percent.
Export increase due to global network
The holding company recorded an increase in export sales thanks to the continuous expansion of its global network. Global sales increased by 2.1 percent to RMB 3,518.5 million despite the pandemic. In North America, sales of the combined Haitian and Zhafir product lines increased significantly.
Due to the strong demand, there was a new sales record for the Haitian Mars Series with more than 37,000 machines sold worldwide. As a result, the 2020 annual sales of the best-selling Mars III increased by 28.6 percent year-on-year to RMB 8,214.5 million. The increase in demand for medical device and PPE mainly benefitted the electric Zhafir Series, where sales increased by 6.8 percent to 1,439.9 RMB. Demand for household goods and a relatively stable automotive market benefited the Haitian Jupiter Series with two-platen technology. Here, sales increased by 3.2 percent to RMB 1,303.0 million.
In North America, sales of the servo-hydraulic Haitian product lines (Mars and Jupiter Series) were about 60 percent of total sales while the Zhafir electric machine sales (Venus, Zeres and Jenius Series) equaled about 40 percent of total sales.
Outlook and future strategy
Haitian International formulated a general overview of its five-year plan strategy at the beginning of 2021. Key objectives include strengthening its global market presence and consistently expanding its market share. Mr. Zhang Bin, Executive Director of Haitian International, said, “With industry-specific solutions, we will increase competitiveness in the high-end markets through our Generation 3 technology, and advance digital manufacturing solutions.” Of particular importance in this context is the digitalization of in-house manufacturing, especially in terms of R&D, intelligent production processes, digital system integration and process control.
Additionally, the company will continue to standardize machine components to increase efficiency and provide customers with economies of scale for the best price – performance ratio. “With the establishment of a young and innovative team, we will focus more on manufacturing processes and improve production capabilities in terms of flexibility and intelligence. The entire Group will continue to work hard to grow and develop successfully together with customers, employees and business partners in the future,” said Mr. Zhang.
