In the December 3 meeting of some enterprises in Guangzhou City economic situation briefing meeting, party secretary of the Guangzhou Pearl River Piano Group, Wei-Lin Huang, chairman of corporate communications, said the recent developments, the Group has embarked on joint-stock reform, consider the timing choice is listed. Meanwhile, the Group plans to set up factories in Europe, specializing in fine piano.
The current global economic crisis, Wei-Lin Huang, chairman of freely admits: “In the global financial tsunami, the European consumer market, especially in high-end consumer goods market are dwindling. The European market is the Pearl River Piano’s traditional export the main battlefield, once sharply above 20%. “crisis, Pearl River Piano active measures: First, the rational restructuring of the global market distribution, not simply rely on European markets. On the one hand, to play a brand driven market, from 1 to 10 months, Pearl River Piano domestic sales increased 14%; the other hand, companies in Brazil, Russia, Southeast Asia, and developing new markets and emerging markets more than 25% sales growth, exports covering over 100 countries and regions. “This year we have sold 100 pianos to North Korea, some of the market is fantastic.” Wei-Lin Huang said. Second, the Pearl River piano for raw materials, accessories and a global procurement, hire top technical experts in the piano introduction of high-end brands. “This financial crisis as a warning to the piano, the more difficult the more to innovation and development, only to create high-independent brands, enhance the company’s intangible assets, to market its capability in a complex.” This year, the Pearl River pianos to maintain steady sales growth , total profits increased by 30% year on year, sales in the first throne of the world more secure.
Third, the plan to create high-end piano factory in Europe. Wei-Lin Huang believes that the financial crisis, Europe and the United States faced unprecedented difficulties in the manufacturing sector, which compete for the globalization of China’s manufacturing industry and create a favorable opportunity. The euro, manufacturers, land is relatively cheap, and it is a global integrated Pearl River Piano talent, technology, brand rare opportunity. To this end, the Pearl River Piano Group has been set up relevant full-time, in-depth piano origin of core technology in Europe, is planning a European acquisition of core technology, fine violin or piano factory in Europe, its own plant.
In response to the crisis, innovation and development, Pearl River Piano is planning a whole listing. Wei-Lin Huang said that the domestic stock market is indeed very optimistic about this year, Pearl River piano will not be listed shortly, but will not give up market cycle downturn. He said the share reform program of the Pearl River Piano has been reported, is waiting for provincial approval of the SASAC, if passed, will soon set up shares of companies listed. Wei-Lin Huang said: “This financial crisis, it is said will be over a year, it was said to be two to three years, and now anybody’s guess. What is certain is that next year will certainly have more severe economic situation, companies must do a good job for the winter ready! “
It is learned the piano as the old state-owned Pearl River piano company, if listed, then the whole group will be listed to piano-based industry, the market place will be chosen in the domestic A share market.