According to the recently released semi-annual report of Baolong, the company has caught the business opportunity brought by the increasing market penetration of new energy vehicles, and increased its revenue continuously for the first half of 2022, in spite of the challenges caused by COVID-19, rising raw material costs, etc.
Facing the historic change and development opportunity of automotive industry, Baolong has released its brand concept and company strategy for the first time.
The brand concept “let more people benefit from the development of automotive technology” is also our vision, which has been driving the company to develop robustly for 25 years since its establishment. Now, it becomes our brand concept.
The company has released the “123 middle-term strategy”.
“1” refers to the goal that revenue reaches CNY 10 billion and net profit reaches CNY 1 billion by 2027 (the 30th anniversary of the company);
“2” refers to the two development directions“intelligence and lightweight”. Baolong will continue its investment in intelligent chassis, intelligent driving, automotive sensors, lightweight structural parts, etc., striving to be the leader of intelligent and lightweight automotive components;
“3” refers to the goal that each product line ranks among the top three in global market, based on the fact that many products including tire valves, wheel weights, exhaust pipes, TPMS, etc. have ready ranked among the top three globally and the company is now a domestic leader of automotive sensors and air suspension.
Words from Leadership
“The vision ‘let more people benefit from the development of automotive technology’, which is also our brand concept was formulated years ago by us. It has been serving as the lighthouse that we head towards. With seven generations of product innovation since its start, Baolong has achieved fast and continuous expansion. And it has contributed to the development of automotive components industry with its advanced technology and quality products. All of this are illustrations of our vision. In future, under the guidance of this vision, Baolong will go on making innovative breakthroughs and devoting itself to the development of automotive components.”
—Holley Chen, Chairman of the Board
“Faced with the great transformation of the automotive industry, we have adopted an open and win-win strategy, worked closely with upstream and downstream partners, and incorporated overseas mature companies, domestic startups and entrepreneurs into our platform by means of M&A, JV and investment. We’ll continue to practice the ‘share opportunities for mutual development’ concept, and build an open, inclusive and trustworthy environment among the company’s affiliates and cooperative partners, so as to realize the win-win situation.”
—Charles Zhang, President