In Hengdeli Holdings Ltd, a Chinese company engaged in retail sales of premium-class watches, reported a 25.6 percent increase in revenue in 2014 due to sustainable business performance. In total, the company's revenue was $ 81.18 million compared to $ 64.42 million a year earlier. Turnover grew 10.4% to $ 2.37 billion, while retail sales jumped 6.3% year-on-year to $ 1.7 billion. The higher sales are largely due to strong demand for the average price segment in China.
"As an adherent to a cautious expansion strategy, the company is also looking for an approach to generating sustainable income for the sake of good growth, and the company has succeeded in consolidating the stability of its business and ensuring the interests of its shareholders thanks to excellent financial performance that has been achieved even in difficult market conditions, says Zhang Yuping, chairman and CEO of Hengdeli.
At the same time, the company's retail sales in Hong Kong decreased by 17.7% to $ 417.11 million.
According to Zhang, the company with a restrained optimism looks at its opportunities in 2015. "In the end, we expect that the long-term development of the company will depend on more diverse factors and broader prospects that we will be able to achieve due to better stability of business development in China and further introduction of catalysts for market activity," the top manager said.
At the moment, Hengdeli owns 513 retail stores in China, Hong Kong, Taiwan and Macau, which sells products of more than 50 world-famous brands. In addition, the company cooperates with more than 400 wholesale buyers in 100 largest cities.