Market news, 25 May 2024
On Jan. 16th, 2021, Sanhua Holding Group held 2021 Annual Meeting with the theme of Focus on high-quality development and continuation to enhance core competitiveness at Xinchang Industrial Park as the main venue. The meeting also held virtually at the national and aboard major industrial parks. The organization and participants are managed in strict accance with pandemic prevention and control measures.
The purpose of the meeting is to summarize the operation management work in 2020 and states highly the operational keys in 2021.
Mr. Zhang Yabo, the Vice Chairman of the Board of Directors of Sanhua Holding Group, made a summary of operations for year 2020 and put forward key work objectives and requirements for year 2021. The report states:
In 2020, the coronavirus (COVID-19) brought the impact of the global market and the layout of supply chain, and the changes was extremely profound. The global economy was going downward, and China was the only major economy to achieve positive growth; the home appliance and auto market has generally declined, and the new energy vehicle market has declined first and then increased; the demand of public health and food safety have increased, driving the growth of the cold chain logistics market. Against this background, the Group and all business units seized the opportunity in crisis and worked hard, and the overall operation and condition were stable, the main operation indicators were generally great:
Operating income reached 32.7 billion yuan, maintaining a double-digit growth; total profits, paid tax and asset scale maintained good growth momentum.
In the context of a big decline in the global market, the Residential achieved both revenue and profit growth; Sanhua Automotive, especially the new energy vehicle business, achieved rapid growth; the Financial and Real Estate Business achieved good returns; the Commercial, Fuerda company, Sanhua Micro Channel, the Pipe and Accumulators business unit, Leaderway Electronics and etc.. actively responded to the market and achieved their own business and operation highlights.
Chairman Zhang stated that green and energy-conservative technology is the company’s future. CO2, as an eco-friendly refrigerant, will have a promising future in auto thermal management, large refrigeration, and heat pump water heaters. The group will focus on the R&D of CO2 heat pump systems and promotion, by strengthening the investment, with strategic partners to push the new technology development and market expansion. If we can take the lead in achieving technological breakthroughs and promoting its industrial application, we will win new strategic opportunities.
Finally, Chairman Zhang stated that 2021 will also face complex and volatile situations. CHANGE is the most prominent theme, and ADAPTATION is the most important key w. High quality development is our guiding principle and direction
He hopes all Sanhua people constantly focus on the theme of how to and enhance Sanhua competitiveness, keep calm in the period of change, find out opportunities in the crisis, and value in the practice. Through our unremitting efforts, we will more and better high-quality development results in 2021.
