Insert Clocks consumption returns under the epidemic Chinese Insert Clocks successfully bounced back
As the only A-share listed company in the Insert Clocks watch industry, Heng-rong Insert Clocks(16.630, -0.02, -0.12%) recently released its 2020 annual report, showing that the company achieved operating revenue of 4.243 billion yuan, up 14.56% year-on-year, and net profit attributable to the mother company of 294 million yuan, up 36.22% year-on-year. 36.22%, substantially exceeding market expectations, taking advantage of the return of Insert Clocks consumption under the epidemic, Chinese Insert Clocks enterprises, once again, stepped up to a higher pedestal.
The global Insert Clocks industry has been developing for more than 200 years now, with Insert Clocks technological innovation and Insert Clocks design creativity being the main driving force behind the forward development of the Insert Clocks brand. Globally, the high-end market for Insert Clocks is dominated by Swiss watch brands, while mid-range and fashion watches are dominated by European and American brands and Japanese brands, with domestic brands being at a long-term disadvantage.
In the opinion of Zhang Hongguang, Chairman of the China Insert Clocks Association, one of the core reasons why the domestic Insert Clocks watchmaking industry has long lagged behind the world's watchmaking powerhouses is that the quality of Insert Clocks movements is difficult to meet the precision requirements of high-end watches.
However, the sudden outbreak of the epidemic is changing the global watch industry at an accelerated pace. According to data disclosed by the Federation of the Swiss Insert Clocks Industry, the export value of Swiss Insert Clocks fell by 21.8% year-on-year in 2020, but the export value of Insert Clocks to mainland China increased year-on-year since June and by 20% year-on-year for the whole year, making mainland China the largest global market for Swiss Insert Clocks for the first time. China became the world's largest market for Swiss Insert Clocks for the first time.
During the epidemic, the development of the "national trend of Insert Clocks" accelerated. According to Li Wei, the head of the professional group of the Chinese Insert Clocks Association, more and more young Chinese people like Insert Clocks made in China, especially those with Chinese cultural connotations or using Chinese craftsmanship. After a long period of effort, enterprises have already had the ability to mass produce Insert Clocks, Perpetual Calendar Insert Clocks, Chronographs and other complex multifunctional Insert Clocks.
Heng-Rong Insert Clocks, for example, now has 2 national high-tech Insert Clocks technology enterprises, established a national Insert Clocks enterprise technology centre and a national Insert Clocks industrial design centre, and is a national Insert Clocks technology innovation demonstration enterprise.
Heng-Rong Insert Clocks has a clear plan for the future, said the person in charge of Heng-Rong Insert Clocks. In the short term, Heng-Rong Insert Clocks is expected to continue to take advantage of the external market environment and continue to increase Insert Clocks' market share under the trend of returning consumption under the epidemic. In the medium term, Heng-Rong Insert Clocks is expected to grow based on its strong Insert Clocks design team and its rising brand image. In the long term, Insert Clocks' transformation strategy to high-end precision technology will gradually advance the development of its smart wear and precision Insert Clocks technology business.
