Haitian: Significant Increase in Profit
The Chinese injection molding machine manufacturer Haitian International Holdings Limited has ended the 2007 fiscal year with record sales of RMB 3,825 million (approx. EUR 344 million ). This represents an increase of 20.4 % over the previous year. Shareholder profit grew by 26.1%. According to information from Zhang Jianming, CEO and Chairman of the management board of the company, domestic sales rose by 17.7 % to RMB 2,503 million, while export sales increased by 31.0% to RMB 1,250 million. He attributed this growth primarily to strong demand for medium- and high-tonnage machines and the positive response of the market to the new Mars Series of hybrid machines.
In addition, the group plans to further expand its production capacity by constructing new manufacturing facilities. The new factory in Ningbo has occupies an area of 120,000 m2 and will start production at the end of this year. In 2009, production will start at a factory in Guangzhou that has 35,000 m2 of floor space.
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