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Company Profile |
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Our company, together with the subsidiaries collectively known as the Group) is a non state-owned enterprise and is principally engaged in the production, sale and distribution of cotton yarn, grey fabric and denim. The Company is the largest cotton textile producer in China.
Leveraging on the rapid growth of the Chinese economy in the last decade, the Company has established a strong presence in the global cotton textile market through its large production scale and advanced technology and equipment.
Weiqiao Textile is located in the Shandong Province, the third largest cotton-producing province, with a large production scale. There are a total of 4 production areas, including Weiqiao Production Base (The First, The Second and The Third Production Area), Binzhou Production Base (Binzhou Industrial Park, The First Production Area and The Second Production Area), Weihai Production Base (Weihai Weiqiao Textile Company Limited(Weihai Weiqiao) and Weihai Weiqiao Technology Industrial Park Company Limited(Weiwei Industrial Park)) and Zouping Production Base (The First Industrial Park of Zouping and The Second Industrial Park of Zouping), with an aggregate gross floor area of about 3,100,000 sq.m. and a total of approximately 140,000 employees. The production facility is in operation 24 hours a day. In 2005, the Group had a production volume of about 659,000 tons of cotton yarn, 1,441,000,000 meters of grey fabric and 124,000,000 meters of denim. Weiqiao Textile's economies of scale is incomparable in China. In addition, being an integrated cotton textile producer, the Group produces grey fabric and denim from its own cotton yarn. There is a comprehensive product range comprising more than 2,000 varieties, which are sold under the reputable WeiQiao trademark in domestic and overseas markets.
In 2002, Weiqiao Textile was ranked first in terms of turnover in the PRC's cotton textile industry according to the statistics from China Cotton Textile Association, and was also ranked first in the aggregate export value of cotton yarn and grey fabric in the PRC according to the statistics from China Chamber of Commerce for Import and Export of Textiles.
In terms of the total export value of cotton yarn and grey fabric, Weiqiao Textile was ranked No. 1 in 2003, according to the statistics from China Chamber of Commerce for Import and Export of Textiles. As at 31 December 2005, the Company has over 4.800 domestic customers scattering 30 provinces and approximately 500 overseas customers spanning across 20 countries and regions, an increase of 20% and 25% as compared to 2003. Major customers of the Group include a few market leaders in the textile industry, such as Itochu, Fountain Set Group and Texwinca Group. The Group has approximately 4,800 domestic customers in the PRC, among which most of them are from Southern and Eastern China where many large-scale textile and garment companies are located.
With the increasing demand for cotton products and the relocation of global manufacturing bases to China, the garment market is expected to grow further in China. Leveraging on its competitive advantages of economies of scale, low labor cost, strong research and development abilities and geographical outreach, the Group will continue to explore business opportunities in the domestic and overseas markets and strive to become the world's largest cotton textile enterprise.
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