Hengtong Optic-Electric’s 2018 semi-annual report was released, representing that in the first half of the year the company achieved revenue up 33.81 % to 15.272 billion yuan and net profit up 52.69% to 1.172 billion yuan from the same period last year.

In the end of August, Hengtong Optic-Electric announced its semi-annual report in 2018. The report showed that the company achieved revenue of 15.272 billion yuan in the first half of the year, an increase of 33.81 % over the same period last year, and net profit of 1.172 billion yuan, up 52.69% from the same period last year. The company’s total assets reached 33.6 billion yuan, up 19% from the same period last year, while earnings per share were 0.6155 yuan, up 39.38% from the same period last year.

According to the report, in the first half of 2018, Hengtong Optic-Electric insisted on high-quality development, increased investment in 5G communications, terahertz communications, semiconductor chips, smart grid transmission, ocean engineering and new energy technologies, established a high-efficient IPD research and development mechanism, and continually followed development model of integrated consideration of industrial development, R & D investment and technological reserve, to strengthen the company's new momentum of development through technical input to improve profitability.

The report pointed out that the company has set up Hengtong’s scientific outlook on quality development, comprehensively introduced 6 Sigma management, carried forward the spirit of craftsmen, established advanced intelligent manufacturing promotion mechanisms, built characteristic modularization standards, promoted the integration of intelligent factories, information management and fine manufacturing as well as flexible manufacturing mode, and pushed forward deep integration of new-generation information technology and real economy.

The report also demonstrated that, following the world map to do business, under the strategy of the Belt and Road to go out and based on its technical and product quality advantage, Hengtong deep ploughed Southeast Asian market, developed high-end European market, and actively laid out overseas industrial bases. During the reporting period, the company’s overseas production and R & D bases and domestic export business all achieved rapid growth; moreover, the company added new overseas R & D bases in India and Egypt, in order to keep pace with the ever-increasing international demand in optical communication network industry. Hengtong Optic-Electric won the European bid for the construction and maintenance (EPC) of high voltage submarine cables of floating wind power in Portugal, which was the first time for Chinese enterprises to enter the EPC market of submarine cables in Western Europe, indicating its accelerated global operation.