COPYRIGHT © 2019 Yantai Pacific Home Fashion Co., Ltd. ALL RIGHTS RESERVED.
Paragraph one: The profile of company
Pacific Home Fashion was established in 2008. It has a registered capital of 40 million yuan, total investment of 0.7 billion yuan, covers an area of 60 acres, and has a construction area of 37,000 square meters. It is a professional high-end home textile research and development, design, production and sales company. Since its establishment, the company has grown at a rate of around 20% per year. The company has 526 employees in two factories in Yantai and has invested in a printing and dyeing factory in Wuxi with 400 employees. PHF also owns a factory in Cambodia with 300 employes. In 2018, the export volume was 120 million U.S. dollars. The company's products are subdivided into three categories: adult household items, baby bedding and hotel bedding. The company's products are positioned for high-end customers and are mainly exported to Europe, the United States, and other developed countries. 70% of Australia's bedding products are from PHF. The company's bedding exports have ranked among the top five in the country for many years and is number one in Shandong Province.
Paragraph two: Business model innovation
1. R&D and design first, strengthen cooperation between industry, universities and research institutes. We wanted to move away from the existing OEM export model that has always been at the lowest end of the global home textile industry chain. Firstly, establish a R&D and design department. At present, there are more than 30 designers, producing more than 1,500 drawings each year and leading the trend of the global home textiles. Secondly, the fabric research and development department develops more than 500 new fibers and fabrics every year. The company cooperates with leading textile universities such as Wuhan Textile University, Zhejiang Polytechnic University and Shanghai Donghua University, and jointly develops the front-end waterless dyeing and plant dyeing environmental protection technologies with the National Thousand Talents Program experts. At present, the company has applied for 22 R&D patents and more than 500 design patents.
2. Strengthening our global supply chain.
Actively incubating partner companies to make full use of China's mature and complete manufacturing industry chain, and adopting a supply chain management model to closely cooperate with large-scale spinning , weaving, printing and dyeing factories in China and the world. We provide large-scale equipment to partner factories, at the same time adapting our management to small sewing factories. These partner factories are gradually cultivated top become top partners. It greatly reduces our management costs.
At the same time, PHF actively responded to the “One Belt, One Road” national call, using the characteristics of high value locations such as Pakistan, Bangladesh and other countries to purchase imported grey fabric; using Cambodia to export tariff-free to Europe and Canada, establishing a processing plant in Cambodia, further expanding the market. 90% of the company's products are supplied to high-end department stores in Australia, Canada and the United Kingdom.
3, Focusing on high-end natural fiber home textiles.
The company focuses on high-quality and high value-added products, mainly based on pure cotton, bamboo cotton, modal, Tencel, graphene, silk and other natural fiber products.
4、Leveraging our experience and expertise to accelerate the pace of intelligent manufacturing.
Between 2017-2018, we built an intelligent factory of 8,000 square meters in Yantai with an investment of more than 30 million yuan and a 40% increase in production efficiency.
Paragraph three: Management model innovation
Corporate culture is the root of good management not only in economic organizations, but also in social organizations. If enterprises want to be successful, they must rely on strong corporate cultures. Corporate culture is the fundamental basis for business management and is the soul of the enterprise.
PHF regards traditional Confucianism as the core concept and defines our core values:
“Principled Entrepreneurship, Constant Innovation, Continued Perseverance and Win-win Coexistence”.
“Creating A National Brand, Leaving A Legacy.”
Based on the business philosophy of “Costumer First, Positive Impact, Personal Growth and Sustainable Development.” PHF adopts a system of “Regulations, Empathy, Education and Professional Enforcement” to strengthen its corporate culture
Regulation strengthening: regulations strengthen our corporate culture. Management must be balanced with yin and yang. Everyone is equal in front of the Regulations, and the company’s senior executives take the lead in practicing “integrating knowledge and action”.
Education：All employees have been studying collectively on the "Disciple Rules" for several years, sharing their experience from work and life. Managers self-learn Chinese classics an d collectively study and discuss the book "DaXue" every month. The company’s party branch concentrates on learning every month. The company's employee representative assembly participates in the review of all articles of the company; employee representatives meet regularly to participate in the company's development and management. The company advocates that all members practice the "Five Ones" - Set an Ambition”which can be achieved by hard work), Read a Book(sages and professional books), and Fix a Mistake(habits are more difficult to change), Do a Filial Piety(divided into daily, weekly, monthly, and annual goals), and Do a Good Deed(starting from doing good deed every moment and speaking nicely ). Key phrases include: " It's all my fault", "I need to improve too", "Thank you", "You are awesome", "It's good to have you around."
Caring for Employees: The company strictly implements the relevant employee social security regulations. PHF helps to resolve various life and spiritual problems of employees, such as setting up classes and holding lectures on TCM health care. Many employees regard the company as their second home. We regularly hold a variety of cultural and recreational activities to enrich the spare time of employees. The company has "five ones" benefits——employee wedding gift of 1,000 yuan, child birth of 1,000 yuan gift package, the gift of 1,000 yuan filial piety red envelope, 1,000 yuan given to those whose parents are over the age of 80, 1000 yuan gift for the employee’s child’s entrance to university,1,000 yuan pension for the death of ones spouse. Five days trip abroad for those who have worked for five years.
Professional training: PHF sends all managers to study on a regular basis. The courses are divided into two categories: professional skills and management skills. The company develops different professional training for all new employees. Internal training and out-of-school learning are scientifically combined, and various trainings are conducted weekly.
PHF's corporate culture guarantees the company's ideological unity, unity of objectives and unified action. The overall quality of employees has been comprehensively improved. Disciplinary behavior has declined, good behavior has increased dramatically, everyone is dedicated and happy. All employees have a sense of happiness and a sense of mission. The company has strong cohesiveness, strong sense of honor, All of the above guarantees the company's operating results have steadily improved year after year.
Paragraph four: actively practice corporate social responsibility
Giving back to society is the social responsibility of enterprises. Only when each individual gives love can society be better. "Our company pays great attention to cultivating the spirit of employees' love, "Thomas Chen, the chairman of the PHF. He is also enthusiastic about leading PHF to actively fulfill its social responsibilities. In July 2016, 560,000 yuan worth of bedding products were delivered to disaster-stricken areas of Hubei. In September 2014, he subsidized 20,000 yuan for a family in Yantai SOS Children's Village; in January 2016, he donated 20,000 yuan to four local students in the senior high school ; in October 2016, he set up the “Student Scholarship Project” in Wuhan Textile University by donating 500,000 yuan. July 2017, he donated 100,000 yuan to the Fushan District Charity Federation. Mr. Thomas Chen always adhered to The business philosophy of being honest and trustworthy, firmly establishing an entrepreneurial spirit focused on quality, and earnestly fulfilling social responsibilities. The company also won honors from “China Economic and Trade Enterprise Association Yantai Foreign Trade Entrepreneur Association Association Vice President Unit” and “China Household Textile Industry Association Board of Directors”. “Exports for Foreign Exchange Leaders”. For many years, the company has won the leading enterprise award in Yantai and Fushan District for export and foreign exchange earning, advanced taxpaying enterprises, advanced enterprises and star enterprises. PHF is among the eighth batch of municipal-level SMEs with one enterprise and one technology innovation award.
Paragraph Five: Future strategic planning and recent work:
1. Continue down the path of technological innovation. Seize the opportunity of new and old energy conversion, improve the competitiveness of enterprises globally and domestically, and create a new high-tech home textile research and development production enterprise. Within two years, the design and research team will reach 100 people.
2, Focus on both foreign and domestic markets. Increase the development of the domestic market, actively nurture independent brands, establish a home textile incubator sales platform, support the construction of advanced logistics warehousing and distribution systems, and establish the “PHF Textile Fashion Life Museum” for industrial tourism mode to serve the domestic market.
3. Continue to strengthen the construction of international supply chains. Further explore the international market and strengthen the export and import markets of Belt and Road countries.
4. Actively attract talents. In 2019, the company will hold the first “PHF Cup International College Home Textiles Creative Design Competition” in Yantai. This activity is supported by the China Chamber of Commerce for Import and Export of Textiles.