Under the strong east wind of global economic recovery, the plastic machinery industry has ushered in a golden period of vigorous development. Qingdao Yongte Plastic Machinery Manufacturing Co., Ltd. keenly captured the market opportunities and decisively launched a large-scale stocking action in the spring of this year to fully accelerate the layout of overseas markets. This action is a powerful testimony to Yongte Plastic Machinery's continued deep cultivation in technology research and development and capacity construction over the years, and it has laid a solid foundation for the long-term expansion of its overseas business. Since its establishment in 2023, Yongte Plastic Machinery has always maintained a steady pace of development. The company is located in Jiaozhou City, Qingdao City, with a modern production base covering an area of 3,000 square meters. In the base, a number of advanced production equipment are arranged in an orderly manner, forming an efficient production system. The core team composed of many senior technicians, with superb professional technology and rich industry experience, provides all-round technical support for product research and development and production.
For this spring stocking, Yongte Plastic Machinery carefully prepared and invested a lot of money. All employees participated and fought hard. The stocking plan was formulated based on in-depth research on overseas markets and combined with its own technology and production advantages. It covers 12 products in three series, including special equipment for plastic processing, general parts, and molds. Taking plastic extruders as an example, 200 units are stocked this time. According to authoritative data from market research institutions, the market share of this product in the domestic plastic extruder market segment is as high as 15.3%. In Southeast Asia, a company mainly engaged in the production of plastic pipes has greatly improved its production efficiency after introducing Yongte Plastic Machinery's plastic extruders. The product qualification rate has jumped from 90% to 95%, and the production capacity has increased by 30% within half a year. It has successfully seized the local market share and doubled its sales. In the Middle East, thanks to the excellent performance and stability of this equipment, sales have increased by 28% in the past year. Technological innovation is the core driving force for Yongte Plastic Machinery to lead the development of the industry. In the past year, the company's R&D investment accounted for 10.2% of its revenue. It actively carried out industry-university-research cooperation with three universities and two scientific research institutions to continuously absorb cutting-edge technologies and concepts. The new injection molding machine developed by the company is equipped with advanced CNC technology and intelligent control system. The production cycle is greatly shortened from the original 20 minutes to 14 minutes, and the production efficiency is increased by 30%. The unit product energy consumption is reduced from 0.8 degrees to 0.64 degrees, a decrease of 20%. The product has successfully obtained the EU CE certification and meets 23 strict EU standards in terms of safety and environmental protection.
Relying on its strong technical advantages, Yongte Plastic Machinery has continuously made breakthroughs in its overseas market layout. At the 2024 Düsseldorf Plastics Exhibition in Germany, Yongte Plastic Machinery's booth became the focus of the exhibition, receiving a total of 517 customers from 42 countries. 10 letters of intent for cooperation were successfully signed on the spot, with an intended amount of up to 8.2 million yuan. During the exhibition, a well-known Italian plastic packaging company showed great interest in Yongte Plastic Machinery's new injection molding machine and reached a cooperation intention on the spot. After the cooperation, the quality of the packaging products produced by the company has been significantly improved, successfully entered multiple high-end markets, and achieved a substantial increase in profits. In addition, the company has placed 23 promotional advertisements on overseas social media platforms and industry magazines, and the brand's search popularity in the overseas plastic machinery industry has increased by 37%.
Currently, Yongte Plastic Machinery's products have been successfully exported to 32 countries and regions including Europe, North America, Southeast Asia, and the Middle East. In 2024, overseas sales reached 18 million yuan, accounting for 22% of total sales. Mr. Smith, a British customer, reported that after using Yongte Plastic Machinery's equipment, the defective rate of production dropped from 5% to 2%, and the average equipment failure response time was 18 hours, which greatly reduced production costs and improved production efficiency.
Looking to the future, Yongte Plastic Machinery has formulated a grand development blueprint. It plans to increase its overseas market share to 30% within three years, increase its R&D investment to 12%, and launch 6 new products. The company will also set up 3 after-sales service centers in North America, Europe, and Southeast Asia to comprehensively enhance the brand's influence in the international market through in-depth collaboration of technology and services. Yongte Plastic Machinery's stocking action this spring is a vivid practice of expanding overseas markets with technology and market strategies. With the steady progress of various plans, Yongte Plastic Machinery will surely occupy a more important position in the international plastic machinery market and provide new ideas and directions for the development of the industry.
