Industry Pioneer: HONGFA was Honorably Named as China’s TOP100 Electronic Components Enterprises in 2020

A few days ago, the information center of China Components Industry Association released the list of China’s TOP 100 electronic components enterprises in 2020 (the 33rd session). With its strong strength in scale, R & D ability and financial situation, Hongfa was honorably listed in the TOP 10, and ranked the eighth among the top 100 electronic components in China, becoming the only enterprise in the relay industry to enter the TOP 10 of the list. So far, Hongfa has been one of the top 100 electronic components enterprises in China for 26 consecutive years.

In 2019, with the global economic downturn, the development of the main downstream application market of electronic components is experiencing a slow down, even decline. Affected by this, the overall situation in the electronic components industry is not promising. However,  the performance is still commendable for China’s TOP 100 electronic components enterprises in 2020 (the 33rd session). The TOP 100 electronic components enterprises of this year have achieved ¥589.9 billion in main business income, ¥40.2 billion in total profits, ¥16.4 billion in taxes, and provided more than 500 thousand job vacancies.

The China Top 100 Electronic Components Enterprises Award was first held in 1988, and has been running for more than 30 years. It has become a model and benchmark for China's electronic components industry, and has made an indelible contribution to the development of the electronic components industry.

Quality Manufactures Happiness

Founded in 1984, adhering to the enterprise spirit of “Strive for progress, preserve for excellence", Hongfa has built an industrial system with complete categories and supporting facilities. At present, Hongfa has established three regional R & D and production bases, our range of products covered from relays, low-voltage electrical appliances, complete sets of high-voltage and low-voltage devices, capacitors, to precision parts and automation equipment, which are widely used in the fields of industry, energy, transportation, information, living appliances and medical treatment. 

In 2019, Hongfa‘s performance continued to maintain a steady growth, with an operating revenue of ¥7.081 billion and a net profit of ¥704 million which is attributable to shareholders of listed companies, with a year-on-year increase of 2.93% and 0.75% respectively. Despite the impact of the COVID-19 epidemic, Hongfa’s performance continued to rise in the first half of this year. According to the first half of 2020 annual report released recently, Hongfa‘s operating revenue in the first half of 2020 was ¥3.441 billion yuan, with a year-on-year increase of 1.01%, and the net profit attributable to shareholders of listed companies was ¥357 million, up 0.73% year on year. In this year, driven by the continuous release of performance, the share price of Hongfa has been pushed up, now market value of Hongfa shares has exceeded 37 billion.

Wining this award is not only an honor, but also a responsibility. As the leader of China's electronic components industry, Hongfa will take on the great mission of leading China's electronic components industry to thrive, bravely in tackling all difficulties, and becoming a benchmark in the industry.

Thus, the mission bearing in our mind will become the guidance in our action. Hongfa will always be committed to technological innovation, constantly promote R&D of new product, continuously optimize and improve products and services guided by market demand, continue to lead the industry to develop, contribute to China's electronic components industry and set an example among this industry.


China Electronic Components Association