EASTAR’s future vision in the coming five years:
As a textile & apparel export enterprise, we aim to serve customers even better and offer premium products in the next five years. But without a sizeable scale of sales, we will not succeed in a further increase of profit. That is why we will continue to target big volumes in our core business. Our goal is to achieve US$500 million in export by the end of 2020, with apparel accounting about US$350 million, yarn export about US$150miliion and other products export around US$30million. This will bring the company’s net asset to US$660million.
Our goal is to achieve US$100 million in import by the end of 2020. While getting advancement in export trading, we strive to look for professionals and solutions to seize the opportunity in expanding the import business.
3.Establishment of more manufacturing facilities
From 2016-2020, apart from an expansion of the production capacity of our self-owned factories in China, the company will set up a manufacturing plant in Vietnam to meet the needs of the US market. To cater the European market, we are going to acquire a garment factory in Cambodia as we have gained a competitive edge in this country after placing orders to the local manufacturers for three years. Last but not least, we are considering an opportunity in the African countries and hope to establish a manufacturing facility when they can provide a relatively more mature and stable conditions for us. This will be a future planning for our subsequent development.