The Chinese economy is entering the new normal economic background, shifting gear from the previous high speed to a new medium-to-high speed growth. Due to the excess capacity, as well as the rising cost of raw materials and human labor, companies have encountered serious challenges in terms of survival and development. How can companies so-challenged win new developments and achieve new breakthroughs? Transformation and upgrading is the only way. Parkway Display has followed the trend and successfully achieved both transformation and upgrade.
One: Entering the Electronic Business Domain
As Lei Jun, the founder of Xiaomi Technology says, “Even a pig can fly if it stands at the center of a whirlwind.” This phrase has since become popular throughout the market. It actually says that one needs to observe trends and keep up with the momentum driving the industry forward. The center of the whirlwind here refers to the future industrial trend — e-commerce. If we understand and think about it from this perspective, Parkway Display Products Limited has without any doubt stood at the center of the whirlwind. Parkway Display Products Limited is actively entering the field of electronic commerce, and building up sales platforms that cater to the natures of a variety of industries. By building these platforms, Parkway Display Products Limited will explore new profit models, and achieve the goal of transforming from a single OEM manufacturer into an environment of multiple, coexisting profit models.
Two: the Reforming and Upgrading of Products, Technology, and Production Equipment
Parkway Display, as a traditional manufacturing company for acrylic display stands, acrylic display cases, acrylic display box and POP cardboard display products, has been rooted in the market, and has made full use of its advantageous resources, putting continuous effort into the research and development of new products, the transformation of achievements, and the exploration of potential markets. By maintaining continuous technical innovation and constantly upgrading their acrylic display products, Parkway Display both improves its own market valuation and boosts the transformation and upgrading of the company. By improving the production equipment and introducing automated production equipment to the especially time- and labor-consuming key production processes, they could “get rid of” the constraints brought by labor, and efficiently solve the problem of the high costs in employing workers, which will greatly enhance production efficiency. Meanwhile, automated production equipment can complete the production actions with even higher accuracy, ensuring the established quality of the products, reducing waste, and therefore enhancing the competitiveness of the company on the market.
Last year, the company successfully developed a variety of advanced production equipment used for acrylic display products, including automatic film-tearing machines, automatic edge-trimming machines, and automatic heat-bending machines, greatly improving the production efficiency and reducing the labor costs.
Through the above transformations, Parkway Display has managed to maintain a 40% growth rate during the global economic downturn of 2015, which is no small task. In the future, Parkway Display will forge ahead on the path of transformation and upgrading, continue to reform, and will keep enhancing the competitiveness of the company in all aspects, to embody the business model of transformation and upgrade.
Company Name: Parkway Display Products Limited
Contact Person: Vincent Ho
Address:6/F, Zhongyu-B, Wenge Road, Heshuikou, Gongming Town