Giant Star Technology's annual net profit was 1.35 billion, and its cross-border e-commerce business achieved triple-digit growth

2020 full-year revenue of 8.544 billion and net profit of 1.35 billion

Public information shows that Giant Star Technology is a company specializing in the development, production and sales of mid-to-high-end hand tools, power tools and other tool hardware products. It is the largest hand tool company in Asia and ranks among the top six in the world .

The report pointed out that the company's overall operating income in 2020 was 8.544 billion yuan, a year-on-year increase of 28.96%; the company's net profit attributable to shareholders of listed companies in 2020 was 1.350 billion yuan, a year-on-year increase of 50.85%, significantly exceeding the annual operating targets set during the epidemic .

From the perspective of product classification, in 2020, the sales revenue of hand tools and power tools business was 5.907 billion yuan , accounting for 69.14 % of the total revenue , which shows the strong strength of the main business.

In addition, laser measuring instruments achieved revenue of 513 million yuan , and storage cabinets achieved revenue of 939 million yuan . In addition, Giant Star Technology also successfully entered the new field of personal protective equipment ( PPE) , achieving revenue of 1.143 billion yuan.

Giant Star Technology said that its core competitiveness is mainly reflected in its advantages in channels, brands, innovation and internationalization .

In terms of channels, cross-border e-commerce is a sales channel that must be mentioned. Giant Star Technology has continued to exert its strength in cross-border e-commerce channels , and achieved triple-digit growth during the reporting period compared with the same period last year .

Relying on overseas e-commerce platforms such as Amazon , Giant Star Technology has successfully achieved brand expansion overseas. In 2020, the company has become the number one domestic export seller in terms of hand tool sales on Amazon .

Looking at the brands, during the reporting period, Giant Star Technology vigorously developed its own brands. The sales revenue of brands such as Workpro, Pony, and Everbrite increased significantly year-on-year. The sales revenue of its own brands reached 2.6 billion yuan for the first time , a year-on-year increase of 12.52% .

Innovation is also one of Giant Star Technology's core competitiveness. During the reporting period, the company invested 245 million yuan in R&D, designed 1,629 new products, applied for 57 new invention patents, and 12 PCT patents . The following is the specific situation of the company's R&D investment ↓

Future business plans and development goals

Looking ahead to 2021, Giant Star Technology's overall business goal is to strive to achieve a 20% year-on-year growth in main business sales revenue and net profit .

Giant Star Technology said that cross-border e-commerce direct sales have become the most important sales channel besides traditional large chain supermarkets. As the strategic core of the company's continued growth, Giant Star Technology will continue to maintain a growth of more than 50% in cross-border e-commerce business in 2021 .

Giant Star Technology also mentioned that it would build its own brand into an internationally renowned brand. Through 3-5 years of efforts, the company's own hand tool brand will have a market share of no less than 20% in the European and American e-commerce fields .

In order to achieve its goals, Giant Star Technology is also making continuous efforts. At the end of March this year, Giant Star Technology issued an announcement that it plans to increase the capital of its wholly-owned subsidiary European Giant Star by 27.9 million euros to acquire BeA, a well-known European pneumatic fastening product brand, and related assets , thereby helping the company accelerate the development of its existing own brands and accelerate its global layout.

Giant Star Technology

Cross-border e-commerce

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