Brilliant 2023, Robust Market Performance and Increasing Revenue 

In a year filled with challenges both at home and abroad, Hangchahas emerged as a shining star in the forklift industry.

Mr. Zhao Limin, Chairman and General Manager of Hangcha Group, mentioned that in the face of a complex environment, Hangcha continues to accelerate structural adjustments, enhance quality, and improve efficiency, embarking on a new path of of ’high quality’ development. Hangcha remains focused on cutting-edge international technologies, aligning with market demands, accelerating product transformation and upgrades, and leading the industry's development.

Hangcha has achieved remarkable growth and demonstrated a robust performance in the year 2023. The operating revenue and net profit of Hangcha have once again experienced a significant leap. In the first three quarters of the year, our total revenue reached 12.515 billion yuan (estimated $1.76 billion), representing a year-on-year growth of 10.12%; Among that, the export business accounting for 4.418 billion yuan (estimated $620 million), representing a year-on-year growth of 29.24%. The net profit soared to 1.305 billion yuan (estimated $183 million), marking a remarkable year-on-year growth rate of 74.89%.

First Three Quarters of 2023: Revenue & Net Profit

Lithium-ion Era: Grand Unveiling of Revolutionary New Products

Hangcha embraces "intelligent, green, and one-stop solutions" as the foundation of technological innovation, with a focus on the areas of green energy, comfort, safety, reliability, and intelligent logistics solutions. Through independent development, Hangcha consistently delivers industry-leading products. Currently, our new energy products account for 50% of Hangcha's revenue, underscoring our strong emphasis on cutting-edge sustainable solutions.

This year, we proudly introduced some remarkable forklift innovations. Firstly, we were proud to be the first domestic company to launch the high-voltage lithium battery rough terrain forklift. Additionally, we unveiled the XE series electric forklift with lithium-ion. These advancements further affirm Hangcha's pursuit of a low-emission and low-carbon future with lithium-ion technology. It is also highly aligned with the new energy strategy of Hangcha: "The future is electrifying".

Currently, Hangcha has established a globally leading sales and service network with nine overseas subsidiaries, solidifying its commitment to delivering exceptional after-sales service to customers. In April and May of 2023, we witnessed the grand inauguration ceremonies of Hangcha's expansion into new markets, including Hangcha Brasil and Hangcha Mexico, which reflects our accelerated pursuit of a global strategy, as we remain dedicated to delivering top-notch products and services to users worldwide. 

Grand Opening of Hangcha Brasil

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Empowering Success: The Electrifying 2023 Hangcha Factory Tour & Major Exhibition

The 2023 Hangcha factory tourhas concluded with utmost success, filling us with great delight, we have meticulously organized five factory tours. Over 300 esteemed dealer friends from diverse regions worldwide, including North America, South America, Europe, Southeast Asia, and Australia, participated in this enriching event. They engaged in comprehensive tours and productive exchanges, gaining insights into Hangcha's product manufacturing processes, technological innovations, and market prospects. During the factory tour, our dealers visited our intelligent super factory with an annual capacity of 400,000 units. They have spoken highly of our well-organized, intelligent, and efficient factory. While also allowing Hangcha to know the thoughts and concerns of the dealers.

Additionally, we also presented lots of excellent products and gained recognition attending PROMAT in America, Logis-Tech in Tokyo, and LogiMATin Germany. At the same time, Hangcha also learned more about the needs of customers from various industries. 

Towards a Green & Intelligent Future

Hangchahas been accelerating its transition towards green and intelligent technologies in recent years, deepening its "New Energy Strategy" and continuously expanding its range of new energy electric products. Hangcha will continue to increase investment in research and development and strengthen innovation in new energy technologies and solutions. This effort aims to provide more competitive products and services to meet the global market demand.

Additionally, Hangcha has transformed from a traditional forklift manufacturing company to an integrated intelligent logistics solutions provider, and we will continue to provide green and intelligent solutions for customers worldwide.