H&T's net profit increased 30.5% year-on-year in 2020

In 2020, H&T's business has been in good condition and financially sound. We continuously adhere to the "three high-end" business positioning, i.e. high-end technology, high-end clients and high-end market. Through enhancement of internal operation and management, as well as organizational capability and research and development platform, we strengthened our basic management and organizational capabilities and optimized our R&D capabilities to advance the added value in our products. We integrate into world standard management system to service our clients more closely, to develop new clients while advancing the service of the existing, and to enhance our industry influence and ensure continuous and steady growth of our business.

In 2020, the company achieved revenue of RMB 4.67 billion, up 27.9% year-on-year, and net profit of RMB 396 million, up 30.5% year-on-year. Of this, Health-care sector has grown significantly in helping the recovery from the epidemic; Intelligent Controller for Power Tools sector has grown rapidly; Intelligent Controller for Household Appliances sector has grown steadily and the business structure has been continuously optimized.

The company established its business through R&D. By continuously enhancing R&D investment, we further improved the construction of basic R&D platform, optimized the organizational structure of R&D team, and improved technological barriers. In 2020 R&D investment totaled RMB 252 million, an increase of 45.63% year-on-year; 1,824 patents have been applied for by the end of 2020. 

The company continues to step up in smart manufacturing, using big data/AI and other technologies to achieve predictive analysis and machine learning, and to transform from digital manufacture to intelligent manufacture. We built an intelligent manufacturing cloud platform to realize the digital operation of the entire factory, and look forward to creating an industry-leading smart factory. In this way, the company will improve its product delivery capability, increase the efficiency of the whole process production, reduce the comprehensive manufacturing cost, improve the manufacturing quality level and enhance its core competitiveness.