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Sunbird has signed "investment contract" and "complementary investment contract" with Changsha High Tech Development Zone to invest 7.5 billion Yuan in a yacht production base, "Sun Bird LUGU Industrial Park", to break through the production bottlenecks predicament.
It is a mass production yacht manufacturing base integrates yachts industrial park building and supporting construction. Under the contract, the total land area is about 300 acres, of which first phase will use an area of about 200 acres, second phase will use an area of about 100 acres.
Sunbird is the first listing yacht manufacturer in China, is currently one of the the largest composite yacht manufacturers, its main products include special boats, private yachts and commercial boats. At present, the conflict of the production capacity constraints with the rapid growth of the market is prominent. According to Sunbird first three quarters of 2011 data, the company achieved revenue of 225 million, an increase of 38.60%; net profit of 28.75 million Yuan, an increase of 29.21%. Among them, the SOA special law enforcement boat sustained large orders, as the main driver of revenue growth. October 2011, the company won 27 boats bid again, following the 34 successful law enforcement winning bid at the end of 2010, the amount of 216 million Yuan.
However, the Sunbird IPO raised investment project is only expected to be put into operation until the second half of 2012. Last year, the company has begun action to ease the production capacity shortage problem. In August last year, Sunbirt announced its intention to increase 100 million investment to its Zhuhai Sunbird branch and PUTELANDI (Hong Kong) Yacht for expansion of yacht production capacity, and to expand the development in Hong Kong market, after completion of the project, it is expected to achieve 40 new composite boats production capacity, 80% expansion of original capacity. Sunbird also used acquisitions to expand production capacity. September 2010, Sunbird announced a wholly-owned investment of 82 million Yuan acquisition of Guangzhou Baoda Yachts, involved in the speed boats business, the speed boats business in 2008 accounted fifth in sales of the domestic composite boats. industry manufacturing
Sunbird said that if the project can be successfully put into operation in Changsha, in particular the construction of yacht mass production line, it will greatly improve the efficiency of yacht manufacturing, change the traditional yacht manufacturing model, optimize the company's product mix, expand the company's production scale of operation, and enhance profitability.
More information: www.cnsunbird.com
Original language: Chinese