“Some of our companies have reverted to the previous situation of working overtime and heating up.†A few days ago, Yuan Hongliang, deputy general manager of Hubei Sanhuan Group, told reporters.
Sanhuan Group is a large-scale manufacturing enterprise in Hubei Province and has a listed company "Three Rings". In the global financial turmoil, like other companies, the Third Ring Road has also suffered. However, with the spirit of self-improvement, the Sanhuan Group not only stood upright in front of the storm, but also sought greater development in the crisis.
Confidence is the biggest motivation
Ten years ago, the Sanhuan Group was only a small trading company under the Machinery Department of Hubei Province. Today, Sanhuan Group has developed into a company with special vehicles, special vehicles, military vehicles, auto parts, mechanical and electronic products, and real estate. The large-scale enterprise groups in diversified industries have become the leading enterprises in the province's machinery and automobile industry, and have been listed as "China's Top 500 Manufacturing Enterprises" for many years.
Ten years of development depend on confidence. “The Three-ring Group is also full of confidence in fighting the financial crisis.†Yuan Hongliang told reporters confidently.
This confidence comes first from a series of policies and measures to revitalize the economy and maintain growth, but also comes from the “self-improvement culture†formed by the Sanhuan Group in the process of development and growth.
“The development of the Third Ring Road is a process of continuously meeting challenges, tackling hardships, and making progress. This process has also created the character of the Three Rings who are optimistic and confident in face of any difficulties. Therefore, we are not afraid of the financial crisis. On the contrary, we have to use the crisis. Further bigger and stronger."
Revitalize the capital chain
In 2008, due to the financial crisis, the company’s sales in both international and domestic markets shrank, showing a “pre-heat and post-cold†situation. In April of last year, the monthly sales revenue reached 1.05 billion yuan. In the fourth quarter, monthly sales revenue plummeted. To about 500 million yuan, the decline rate of more than 50%.
As a large-scale enterprise group, the most direct impact of the financial crisis has been the disruption of the company's capital chain and the collapse of the company. The bankruptcy of many well-known American business groups is the best example.
The reporter learned that when the financial crisis has just emerged, Sanhuan Group will conduct investigations and studies and propose countermeasures.
In October last year, Sanhuan Group adjusted its capital operation mode, strengthened cash flow management and implemented centralized fund management. In addition, the company also strengthens cooperation with banks, uses medium- and long-term bonds, introduces strategic investors, realizes land resources, and other means to increase financing.
In order to avoid the loss of creditors, and also to revitalize the stock and increase cash flow, the company also deployed a special job of clearing and collecting receivables, and strived to collect all receivables and preserve assets. "After the financial crisis, many of our partners appeared to be bankrupts. To reduce the loss of our accounts, we responded in advance, cleared the arrears and minimized the losses," said Yuan Hongliang.
In the interview, the reporter also discovered that “saving every sheet of paper, every degree of electricity, every drop of water†has become the common disciplinary requirement of the company. A company executive once forgot to turn off air conditioning at night after work, and was deducted 1,000 yuan the next day, and made oral criticism.
Save the market like a child
Continuing to do a good job in traditional projects - auto parts have also become the current strategic focus of Sanhuan Group.
On February 17, Li Hongzhong, governor of Hubei Province, came to Sanhuan Group to make a clear survey requesting that the Third Ring should be made into the “aircraft carrier†of the auto parts industry in Hubei Province.
It is understood that Sanhuan Group has extensively developed the market and provided auto parts support for at least 10 auto companies in China. In terms of technological innovation, Sanhuan Group also made extensive breakthroughs and strived to change from “tricyclic manufacturing†to “tricyclic creationâ€. It is reported that Sanhuan Group has developed a hollow and sodium-filled engine valve that is an exclusive and high-end technology in China. This product is currently at a monopoly position in China, and is specially provided for the luxury cars such as FAW Audi. Its market prospects are broad.
Actively exploring overseas markets has also become another strategic goal of the group. The reporter was informed that at present, the Sanhuan Group has exported a large number of parts and components to emerging markets such as India, Iran and Turkey, while markets such as Africa and Russia are also actively developing.
“With the entry of a product, we can drive related parts and components into the market, thereby greatly expanding our overseas markets.†Facing the future development of the Sanhuan Group, Yuan Hongliang’s face is full of confidence and embarrassment.
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