SHENYANG, Nov. 14 -- If innovation can be compared to an apple, the latest bite taken by Shenyang Machine Tool Group, once the world's largest machine tool seller, was not the sweetest.
Although its self-developed smart factory machinery tools have created new demand, a lot more has to be done to steer the group towards a path of quality and sustainable development in the new era.
On the wall of one of the group's conference halls hangs a calligraphy showing four Chinese characters "da gan kuai shang," which means make all-out efforts and launch new projects as fast as possible.
"This calligraphy was painted around 2005. It reflects the history and changes our company has gone through over the past decade," said Gai Liya, manager of a production line producing smart factory machinery of the group's Shenzhen-listed branch, Shenyang Machine Tool Co., Ltd (SMTCL).
That was a time when the Chinese economy was growing at the fast pace of around 10 percent, fueling robust demand for manufacturing equipment.
The group's revenue surged from about 800 million yuan (120 million U.S. dollars) in 2002 to more than 10 billion yuan in 2007. In 2011, its revenue reached 18 billion yuan, the highest of all machinery tool producers worldwide
However, fast sales expansion doesn't necessarily mean high profit.
In 2011, SMTCL's profit attributable to shareholders was 104.77 million yuan, down 26 percent year on year, although its revenue surged 19.43 percent to 9.61 billion yuan.
【国内英语资讯:Economic Watch: A Chinese manufacturers bittersweet bite of innovation】相关文章:
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