NEWS &
EVENTS

The Hangcha Group's earnings forecast shows impressive growth for 2023, with a year-on-year increase ranging from 62% to 82%. This growth is mainly due to the company's rapid expansion in production and sales of lithium-ion new energy forklifts and international business. Lower raw material prices, exchange rates, investment income, and government incentives all contributed to the company's profit growth.
The trend of electrification and internationalisation in the industry is continuing to grow, and Hangcha Group's market share in the field of lithium battery forklifts is also expanding. The industry's total sales volume increased by 12.00% year-on-year in 2023. Export sales volume increased by 12.13%. Sales of Class I electric counterbalanced ride-on forklift trucks increased by 29.25% year-on-year, while sales of Class II electric ride-on storage forklift trucks increased by 35.94%. Li-ion battery forklift trucks have become more competitive, and internationalisation is accelerating. In 2023, domestic forklift truck sales increased by 11.94% year-on-year. The demand for forklifts in the domestic manufacturing industry is expected to gradually recover, leading to an increase in domestic forklift demand. It is anticipated that the demand for forklift trucks will continue to improve as the domestic manufacturing industry recovers.
Hangcha Group focuses on scientific and technological innovation to keep up with industry trends. They continue to expand the international market and lead industry development. Currently, Hangcha has mastered core technologies for new energy industrial vehicles, including lithium-ion special architecture platform technology for electric forklifts, high-voltage permanent magnet synchronous technology, and fast charging technology. Hangcha Group has taken the lead in releasing a series of high-voltage lithium-ion models. These include 1.5-48 tonne counterbalanced high-voltage lithium-ion forklifts, 20-60 tonne lithium-ion tractor trucks, container frontal cranes, and empty container stackers.
The electric forklift truck market is experiencing rapid growth due to the increasing awareness of environmental protection and the advancement of energy transition. The global demand for sustainable development and green energy is also growing. This will further promote the expansion of the electric forklift market and bring more opportunities for Hangcha Group's development. Hangcha Group has launched a series of high-voltage lithium models to meet the market demand for electric forklifts. Year-on-year sales of electric counterbalanced ride-on forklifts and electric ride-on storage forklifts have significantly increased thanks to advanced lithium battery technology and high-voltage permanent magnet synchronous technology. The company's sales figures prove that the electrification trend continues to strengthen in the forklift industry.
Hangcha Group's success is also attributed to internationalisation. Currently, Hangcha's foreign revenue accounts for more than 33% and has ranked top in the industry for over 10 consecutive years. Hangcha Group has ranked top in the industry for more than ten consecutive years in terms of the volume of exported units and foreign revenue. This achievement is due to the company's advantages in technological innovation, product quality, and customer service, which have enabled it to expand its overseas markets. Hangcha Group has achieved a leading position in the domestic market and gained a reputation in the international market by strengthening cooperation with foreign customers and providing personalised solutions and technical support.

Although the manufacturing industry as a whole is affected by some unfavourable factors in 2023, the demand for forklift trucks is expected to gradually improve with the gradual restoration of the domestic manufacturing boom. This will provide Hangcha Group with more development opportunities and market space.