In 2021, thanks to the efforts of Hangcha employees and the great support from all our partners, Hangcha made a great achievement despite the complex and severe economic and market environments at home and abroad. In 2021, Hangcha Group’s revenue saw a 26.53% increase in revenue of 14.49 billion yuan (about 2.25 billion USD), and a 19.55% increase in forklift sales of 247,700 from the previous year. 

Hangcha Group

As one of the largest professional forklift R&D and manufacturing bases in China, Hangcha Group enjoys nearly 50 years of experience in forklift manufacturing. In recent years, Hangcha Group has continued to increase investment in technological transformation, in-depth implementation of intelligent manufacturing, and built an industry-leading parts and vehicle intelligent manufacturing factory by adopting 5G application technology, industrial Internet, intelligent welding, automatic painting, and other intelligent manufacturing process technologies, which improve the annual capacity to 350,000 units. The "Future Factory for Industrial Vehicles" built by Hangcha Group has been selected as the "Future Factory" list of Zhejiang Province in 2021.

In addition, Hangcha will invest in three technological transformation projects to continue to promote digital design, intelligent production, safety management and control, green manufacturing, and other capacity building, to empower intelligent manufacturing.

1. Construction Project of Science and Technology Innovation Park in Shiqiao

Hangcha will reconstruct the original building in Shiqiao, No. 398 Shiqiao Road, and build seven new buildings, whose floor area will be 150,000 square meters in total.

This project will focus on new energy products and combined by below four bases and one center, with an annual sale of 10 billion yuan (about 1.5 billion USD).

 —Intelligent material handling equipment innovation research and development base;

 —Hangcha Import and Export Base;

 —New energy forklift drive unit production base;

—Hangcha supporting industry chain innovation base;

—Hangcha product training and experiencing center.

Construction Project of Science and Technology Innovation Park in Shiqiao

2. Construction Project of Intelligent Manufacturing Base Phase III of Hengfan Science and Technology Park

This new project, with an area of 65164 square meters will focus on manufacturing large-tonnage new energy forklifts, about 300 units a year, 15,000AGVs, and other construction machinery products.

Construction Project of Intelligent Manufacturing Base Phase III of Hengfan Science and Technology Park

3. Baoji Hangcha Relocation Construction Project

Baoji Hangcha relocation and construction project covers an area of 51，000 square meters. It is planned that the first phase of the project will be completed and put into production before the end of 2022. After the completion of the project, it can rapidly improve the company's digital and intelligent high-end conveying equipment processing and manufacturing capabilities. It is expected to produce 80,000 meters of belt conveyors and 20,000 forklift accessories.

Baoji Hangcha Relocation Construction Project

Intelligent manufacturing creates a better life. Hangcha Group will continue to strengthen the beneficial exploration of the application of new technologies and new models of intelligent manufacturing and will continue to summarize and output new technologies, new equipment, and new models to form replicable and popularized solutions, which will serve as the basis for the industrial vehicle industry. And we will keep making effort to realize the magnificent transformation from "traditional manufacturing" to "modern manufacturing" and "made in China" to "intelligent manufacturing in China".