At the 2011 annual general meeting held recently, Chairman Mao Jianrong of Hangfang forward made the following answers to questions raised by investors on the progress of raised investment projects that are generally concerned by investors.
The company’s construction machinery project, which has an annual production capacity of 12,000 electro-hydraulic control engineering machinery transmissions, has the majority of transmission equipment in place. It will complete the project construction in the first half of 2012. It is expected that an annual output of 2000 units will be completed in the same period. Wind power growth box key parts capacity expansion project. The company has carried out the integration and adjustment of the production site for marine projects (that is, 100 sets of advanced ship propulsion systems and 800 high-precision marine gearbox expansion projects annually), so some ordering equipment needs to be delayed and the project will end in the third quarter of 2012. Completed, in addition, heavy-duty and special vehicle automatic transmission technology research and development projects will also be completed in the same period.
Mao Jianrong emphasized that all of the above projects are based on the original production capacity of the company to implement capacity expansion. Therefore, the equipment that has been put into the project can be used after it has passed the inspection and acceptance to form new production capacity, which will gradually generate benefits. In 2012, about RMB 420 million was invested in raised investment projects and technical reforms. Based on the technical reforms that completed the 3+1 fund-raising projects during the year, the construction of Linjiang Wind Power Industrial Base will be focused on, and the production capacity and hydraulic capacity of bulldozers will be expanded. Torque production capacity, complete optimization and adjustment of the company's manufacturing layout, improve the level of technology and overall manufacturing capabilities.
In 2012, the company will increase the export of marine products, focus on the development of new international markets such as South Asia and South America; vigorously introduce ZL60 gearbox and other technologies to occupy new heights in the industry's commanding heights, and expand the “double-variable†integration of gearboxes and torque converters. Sales, speed up the realization of the process of engineering products from import substitution to export expansion. At the same time, it gradually entered the large-scale agricultural machinery transmission industry to develop new profit growth points in the future.
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