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This year, Baocheng once again invested a huge sum of money and divided its troops into multiple operations for deployment!

Baocheng said that on the manufacturing side, the company invested 5.567 billion yuan and 1.34 billion yuan in research and development expenditures in the first quarter of last year and this year, respectively, and continued to invest in investment projects such as automation, advanced manufacturing processes, key technology introduction and refinement; on the channel side, Baocheng launched WeChat store, mobile application (APP) and Douyin platform, and optimization of cooperation with major e-commerce platforms, in order to expand the layout of shoe manufacturing and distribution.

In terms of environmental protection, energy conservation and carbon reduction, Baocheng announced that it will use 2019 as the base year and continue to promote energy conservation and expand green energy use strategies to achieve the goal of "zero growth in carbon emissions" by 2025. This is a Taiwanese businessperson. For the first time, a shoe factory has set a "five-year zero carbon emission growth" goal.

Yu Yuen Industrial, a Hong Kong-listed company under Baocheng, held a shareholders meeting on May 28 to re-elect three executive directors. Baocheng Chairman Zhan Luming, Yu Yuen Senior Executive Vice President Lin Zhentian, and Baocheng Vice President Hu Jiahe were re-elected; In addition, he was also the national audit and assurance leader Wang Keqin of Deloitte China, and he was re-elected as independent non-executive director of Yue Yuen.

Baocheng said that last year and the first quarter of this year, they invested 5.567 billion yuan and 1.34 billion yuan in research and development respectively, and continued to invest in automation, advanced manufacturing processes, key technology introduction and refinement, etc., in order to increase operational efficiency and flexible production capacity, and provide the most Value-based integrated solutions.

On the manufacturing side, Baocheng mainly OEMs for many international brands such as Nike, adidas, Asics, New Balance, Timberland and Salomon, and mainly sports shoes, accounting for nearly 80% of the footwear manufacturing business.

Baocheng also sets up exclusive R&D teams and independent product development centers for major brand customers. From product development to product prototypes, they collaborate with customers, incorporate innovative elements and environmentally friendly materials, and work together to launch high-quality footwear.

Baocheng said that the epidemic has had a significant impact on global economic activities. The company further adjusted its production capacity allocation in the first quarter of this year. Vietnam, Indonesia, and mainland factories accounted for 44%, 43% and 9% of the company’s shipments respectively. Others include Cambodia, Regions such as Bangladesh and Myanmar accounted for 4%.

Baocheng emphasized that this year will pay more attention to the global layout, will continue to improve production efficiency in various regions, and review the brand customer order demand, and the operating conditions of each factory, in order to maintain the maximum flexibility to adjust production planning in a timely manner.

On the other side of the channel, Baocheng believes that due to the impact of the epidemic on the real economy, consumption habits have changed, highlighting the value of technology use, and driving the company to accelerate digital development, including the launch of WeChat stores, APPs, and Douyin platforms, optimization and various Strategic cooperation of large e-commerce platforms, etc.

Baocheng will continue to develop the concept store "Next Store" that integrates sports service elements to provide diversified sports products, and service content such as training courses, sports events, sports consultations and fitness meals to enrich the consumer experience.