Good afternoon Ladies and Gentlemen, my speech goes into five parts. Firstly let us have a look at Huafon Group.
HuaFon Group was initially established in 1991 and located in the private economically developed city Wenzhou, Zhejiang province. The company experienced industrial transformation and invested polyurethane sole resin production, entering into PU industry in 1994. Huafon Spandex was established in Dec. 1999, its capacity has jumped into 32ktpa as of yet.
China has become a cutting-edge spandex production country of the world in 2004. The country shared 49% of global spandex market in 2007. However, following the rapid development of spandex industry from 2001 to 2004, spandex price had nosedived on account of shrinking demand.
While domestic textile industry grows more and more strong, many enterprises have witnessed hard times due to serious pollution and excessive consumption. Meanwhile, textile industry is confronting huge challenges from down-revised export tax rebate, influence of global economic environment. It is predicted by some experts that textile market would slide by large extent at the second half of this year; this might gravely inhibit the health development of spandex industry. Many enterprises involved this whirlpool might suffer a lot from price plummeting. As far as Huafon Group concerned, the company has proposed plans to tackle this forthcoming challenge. In the first place, as a large company in spandex industry, the company will decline energy consumption. Secondly, the company is to actively explore the finishing process to enable products of wider usage. Furthermore, the company will make great efforts in developing functional spandex and enhance products’ added value, to Sparkplug Responsible Care and Strengthen Enterprise’s Social Responsibility, with many allied responsible care organizations, it has favorably bolstered the sustainable development.
Despite the fact that spandex industry is now soaring around the low territory, spandex industry is sure to expect a bright future since challenge co-exists with opportunities.