Last week, our company had a meeting with all of our suppliers. In the meeting, our general manager Mr. Liang had made a speech. Below are the content of it.
Firstly, thanks for all your help and support. Without your continued support, Fuyu hardware will not have such achievements, I hereby on behalf of all our staff to express my sincere thanks.
1. Looking back in history
Fuyu hardware was established in 1999, almost 20 years till now. At that time, Fuyu rented a warehouse about 2000sqm in north of Xiaolan with a small workshop for assembling and packing the products. We moved in this factory in June 23rh, 2005. The position of our product is high grade products; it’s also the top grade in lock industry. In 2003, one of our mortise handle lock (Model 8206) was installed in Beijing’s Great Hall. In 2008, another grip handles door lock (Model 8228) was installed in Beijing Olympic Village. Moreover, many famous real estate companies in China choose our handle locks. There are thousand of lock factory in China, but no more than 10 have got ANSI - America certificate, while Fuyu is one of them. In May 2016, Fuyu earned the mechanical anti-theft lock grade C certificate issued by the National Ministry of Public Security, which is the first grade C certificate in Guangdong province. It is our permanent principle that contracts are honored and commercial integrity is maintained.
2. Situation analysis and strategy
Nowadays, mechanical locks may not be able to meet customers’ demand. With increased concerns for material life and intelligent life, and the young peoples are highly dependent on digital products, the smart phone door lock is the inevitable developing direction. After 20 years R&D and working experience in lock industry, this year, Fuyu started the third business that is electronic smartphone door lock development. We introduced professional management team, which greatly improved the management level and R&D ability. Our objectives of smartphone APP door lock are as follows:
1) Develop our own brand “LOKIN” exterior Bluetooth door lock with 50% market share and become top 3 intelligent bluetooth door lock seller.
2) Develop ODM, OEM production customers and become the main supplier in smart lock industry.
3) Develop smartphone door lock accessories processing and OEM. To be a main supplier for smartphone door lock accessories.
Based on above strategic objectives, Fuyu have added 3 divisions this year: mechanical locks division, intelligent locks division, and digital accessories division. To inspire the staff, Fuyu set up a commission plan for each division, that Fuyu will give proportion of bonus to the staff who completed their objective.
3. Looking into the future
Fuyu smart door lock had a late beginning but a fast speed development. The position of our product is produce and R&D high grade, intelligentized high class and trendy intelligent door locks, to meet the needs of high standard customers. Till now, In China, very few factories are producing the whole digital locks including R&D electronic chip, mechanism structure, faceplate die-casting, cylinder, lock case. From 2016 to 2017 are Fuyu’s most difficult 2 years, we discarded about 8 to 9 million in digital lock accessories, mold, and researching, but finally, we worked through it with thanks to all of our staffs’ efforts and our suppliers support. We hope we will get more support and improve together in the coming year.
Thanks for your time, and wish you a happy new year.