Group Highlight and Outlook for 2010
In this issue we are looking back over the last year at highlights and developments within the Hung Hing Group and looking forward to our 2010 strategy.....
Hung Hing Annual Report
See below an excerpt from our 08/09 Annual Report:
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The global economic recession during the year under review had a widespread effect on corporations around the world. Hung Hing was not immune to the impact of reduced consumer demand in most of the groups markets. Nevertheless, for the financial year 2008/09 Hung Hing maintained steady growth in our core businesses. Revenue remained stable during the year, down only by 5%. The first half was relatively strong with steady customer demand, however, the economic recession began to impact the groups business in the second half of the year.
Our commitment to quality and service improvements has enabled us to enhance customer loyalty and expand business with new customers to achieve satisfactory results within the core business divisions.
During the year, Hung Hing expanded our sales outside the traditional markets of the UK and US; Continental Europe grew by 12%, with Russia, Germany and Spain recording steady growth in both volume and revenue terms.
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For a copy of the annual report, please contact your account manager or enquiries@hunghing.co.uk
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Outlook for 2010
We believe the coming year will continue to present challenging business conditions. The reduced investment in our paper manufacturing interests reflects our strategy to focus on the core printing and packaging business, which the group views as having the highest potential for growth especially in the domestic China consumer market.
To support this strategy, Hung Hing has invested in an upgrade of our management information systems and executed initiatives to improve accountability and drive performance in the manufacturing operations. These activities will remain a priority during the course of the coming year.
Hung Hing's strong cash position places us in an excellent position to react to growth opportunities that may arise as economic recovery gets underway.
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Give your Pop-Ups the WoW-Factor!
 The term "pop-up" is used for dimensional and movable books and greeting cards. Kinetic energy is the centre 'wow' of all pop-ups and this kinetic energy is created by opening a page, pulling a tab, turning a wheel or pushing a lever. From a parallel fold through to a wheel with a cam and a reciprocating arm, our design department in the Hong Kong HQ, with two additional new team members, can assist in engineering your paper product to achieve just the right amount of "wOw"!
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ICTI at HeShan
The ICTI certificate for HeShan is now available. If you require this or any other certification documents (ISO, FSC, G7 etc) please contact your account manager.
Dates for your diary:
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Frankfurt Book Fair
Monaco Luxe Pack
HK Public Holiday
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14th - 17th October 2009
20th - 23rd October 2009
26th October 2009
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New Machines at Hung Hing include; A new box folding machine and automatic die-cutting machine at HeShan and a new seven colour Heidelberg Speed-master with in-built coating system at Zhongshan.
Please contact your account manager if you require an updated Plant List. |