Changhong's Brand Value Soars Past 200 Billion Yuan Milestone
CHiQ, its premium brand, unveils the exciting brand proposition "Smart with Style"
MIANYANG, China, July 26, 2023 /PRNewswire/ -- Changhong secured a place on the 2023 list of China's 500 Most Valuable Brands with a brand value of 203.968 billion yuan, marking a significant leap in its valuation. The list was unveiled during the 2023 World Brand Conference recently held by World Brand Lab in Beijing. World Brand Lab, a wholly-owned subsidiary of World Executive Group, is a world-leading consultancy in digital marketing and brand valuation.
Changhong enhances technology R&D, expands in emerging sectors
Changhong has consistently improved its research and development (R&D) in new technologies over the past few years. In December 2022, the company developed the MCU intelligent control chip, enhancing energy efficiency of household appliances. Additionally, Changhong has also advanced its smart home appliance range, allowing seamless integration of various appliances.
Changhong has also been diversifying into emerging areas like renewable energy, semiconductors, and computing storage. The group includes seven publicly-traded companies and three companies listed on China's New Third Board. Changhong has also incubated 15 high-tech firms, caters to some 100 renowned brands and serves over 200 million users worldwide.
A crucial aspect of Changhong's business strategy revolves around the interconnectedness of all its operations. This systematic development of business operations and capability systems has significantly driven the company's growth momentum.
CHiQ unveils a new brand proposition that embodies both intelligence and style
Besides its commitment to cutting-edge intelligent technologies, Changhong also emphasizes the design and aesthetics of its products. The premium CHiQ brand recently unveiled a new brand proposition - "Smart with Style", aiming to blend intelligent technologies with stylish designs for an integrated home environment.
CHiQ products provide users with effortless control and management of their home appliances. Adopting a user-centric approach, the brand enables interconnection among all devices, allowing users to control them through voice commands. Meanwhile, CHiQ aspires to transform intelligent home appliances into unique, attractive pieces of art that not only serve their functional purpose but also become a reflection of the user's personal style.
Changhong boosts market expansion amid rising global performance
In recent years, Changhong has been consistently expanding its presence in multiple markets. Building on its existing five manufacturing plants in Europe and Southeast Asia, the firm plans to add facilities in Mexico and Poland.
Changhong is broadening its portfolio in markets outside of China by ramping up its efforts in developing new product displays, washing machines, and advanced Internet of Things (IoT) terminals.
Changhong's customer-focused global expansion led to increased export revenue in 2022. In the first half of 2023, the company's total output and overall revenue in ex-China markets grew by over 30% and 25% respectively. Sales revenue in Australia, Europe, Indonesia, and the Middle East also grew significantly.
The remarkable growth in Changhong's brand value is not only a testament to its strategic positioning and competence in intelligent manufacturing technologies, but also a reflection of how its brand philosophy resonates with customer needs.
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