Haitian hits export record as overall business rebounds along with Chinese market

Revenue and profits were up in the first half of the year for Chinese injection molding machine supplier Haitian International, with the company and its local economy rebounding from a "slow" 2012. Revenue of RMB 3,620.6 million ($591.4 million) over the first half of the year was up 13.9% and 14.7% compared to the first and second half of 2012, respectively. Profits were up 17% compared to the first half of 2012, reaching RMB 568.2 million ($92.8 million).

In a release, Haitian cited the launch of its second generation machine line and a "modest recovery of Chinese plastic injection molding machine" market as reasons for the strong performance, including the company's second highest ever interim revenue figure.

Gross profit margins (30.7% vs. 29.8%) and net profit margins (15.7% vs. 15.3%) were both higher, and here Haitian cited introduction of lean manufacturing and stable steel costs. Zhang Jianming, executive director and CEO of Haitian International, said the company gained market share in China as the sector became more stable, but he also noted that a fully recovery had not yet happened, saying "the market is still far from full recovery and the macroeconomic indicators are still struggling."...

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