DREAM VINA

kimswed 2010.05.09 07:41 조회 수 : 14209 추천:348

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Plush stuffed toys

Plush stuffed toys, the core business of the Group, accounts for approximately 84 percent of the Group’s total turnover in 2008. The Group manufactures products in accordance with the designs of its customers, the majority of which are licence holders of certain well-known brandnames and cartoon and animal characters. All of the Group’s OEM products are for exports, principally to the US, Europe and Japan.

 
The Group also manufactures plush stuffed toys of its own design on an ODM basis under the label, CALTOY. In order to maintain our competitiveness, resources are devoted to R&D to match the changing market trends and tailor products to meet unique customer requirements. The Group has achieved a brilliant performance in ODM business and was awarded “Import Supplier of the Year 2006” by Wal-Mart in 2006 for our excellent work in product design and development, quality and on time delivery.

Steel and plastic toys

The Group’s steel and plastic toys covers ride-on toys, such as tricycles and steel truck toys targeted to the children of over 12 months to six years of age. In 2006, the Group invested in a joint-venture company, C & H HK Corp., Limited to acquire the trademark of “Great” and the right to manufacture and distribute tricycles, bicycles, scooters, inline skates and skateboards under these brands. The enriched steel and plastic product mix provides the Group a platform to enlarge its customer base and make inroads into the PRC market.

 

INDUSTRIAL OVERVIEW

Hong Kong has established a worldwide reputation in the toy industry for its production and re-export of a wide range of well-designed and high-quality toys. From the source of Census & Statistics Department, HKSAR Government, the total toys exports from Hong Kong in 2005 amounted to approximately HK$79,039 million with a modest 2.9% increase over last year. Recently, a local PRC press claimed that more than 70% of world's toys output value were made by more than 8,000 PRC manufacturers in 2005. Meanwhile, almost all the toys export from Hong Kong were re-export trade for the goods made in PRC.
A large proportion of Hong Kong toy exports are derived from licensing and contract manufacturing for overseas manufacturers. Production specifications and product designs are usually provided by customers. This type of arrangement is used to minimise the local manufacturers?risks to invest in product design, inventory taking and marketing. However, Hong Kong manufacturers are increasingly offering expertise in design, engineering, modelling, tooling, quality control and other technical know-how to its customers in order to maintain their close relationship with large buyers and to keep abreast of market trend.

Hong Kong's Total Exports by Selected Industry Sector
2005 2004 2003 2002
Value
(HK$ Mn)
Change
(%)
Value
(HK$ Mn)
Value
(HK$ Mn)
Value
(HK$ Mn)
Giftware and Premium 165,178 +2.9 160,516 151,981 147,559
Household Electrical Appliances 27,810 -3.5 28,822 31,398 32,402
Housewares 13,654 -5.4 14,434 14,305 15,634
Fine Jewellery 25,500 +23 20,734 22,230 19,049
Toys 79,039 +2.9 76,826 75,008 74,078
Watches and Clocks 46,146 +1.1 45,666 41,908 37,402
Source: Census & Statistics Department, HKSAR Government

Industry Trend

Nowadays, in order to enhance its competitive edge and bargaining power against other countries, Hong Kong toys manufacturers have been actively seeking low-cost offshore production facilities not only in the PRC but also in other low production cost countries such as Vietnam, Indonesia, Malaysia, the Philippines and Thailand. Hong Kong toys manufacturers have been striving to diversify their exports into emerging markets such as Latin America, Eastern Europe, the Middle East, Russia, India. Of course, the vast Chinese Mainland where the burgeoning market of international branded high quality toys was found promising for Hong Kong based manufacturer to leverage on the Closer Economic Partnership Arrangement CEPA advantages.

As a result, Hong Kong toys manufacturers have to differentiate themselves from their Mainland counterparts by shifting from OEM towards ODM and OBM focusing on unrivaled new material exploration, state-of-arts manufacturing technology, trendy product design, impeccable quality control, international brand building, world-class promotion & marketing, and global supply chain production management to cater for the need of the targeted customers.

Hong Kong's Exports of Toys by Major Market
2005 2004 2003
Share
(%)
Value
(HK$ Mn)
Change
(%)
Share
(%)
Value
(HK$ Mn)
Change
(%)
Share
(%)
Value
(HK$ Mn)
USA 38 30,048 -12.3 44.6 34,270 -0.2 45.8 34,333
EU 28.2 22,283 +11.9 25.9 19,914 -2.6 27.3 20,449
Japan 13 10,288 +16.6 11.5 8,823 +21.4 9.7 7,265
China 5.6 4,396 +66.9 3.4 2,634 +33.8 2.6 1,969
ASEAN 2.4 1,894 +13.1 2.2 1,675 +8.3 2.1 1,547
Source: Census & Statistics Department, HKSAR Government

Hong Kong and the PRC are major players for plush stuffed toys. Hong Kong has other well-established supporting industries such as electronics, plastics, textiles and clothing industries so that the quality in each toy segment can be improved and controlled since accessories in toys are well produced.

After China entered WTO, its continuous strong economic growth inevitably triggers the escalating commodity prices and rising labour cost. Together with the unification of corporate tax rate for local and foreign enterprises, the corporate income tax rate for foreign investors will be increased to 25% starting from 1 January 2008. In the coming years, Hong Kong toys manufacturers and traders need to face various challenges. It all depends on how good and quick a resourceful and tactful Hong Kong manufacturers to exploit its comparative advantage to turn all those challenges into new business opportunities.

* kimswed님에 의해서 게시물 이동되었습니다 (2010-07-16 14:28)