Chinese furniture manufacturer expands R&D and global operations
Editor's note: The China Association for Public Companies, together with China Daily and other media outlets, has launched the initiative Listed Companies in Action: My Five Years in the 14th Five-Year Plan (2021-25), highlighting the achievements of Chinese listed companies in advancing high-quality development.
An aerial view of Heng Lin Home Furnishings Co Ltd's production base in Vietnam in March. [Photo provided to chinadaily.com.cn]
Heng Lin Home Furnishings Co Ltd, a furniture and home furnishings manufacturer based in Anji, Zhejiang province, boosted research and development investment and innovation capacity during the 14th Five-Year Plan period (2021-25).
In 2024, the company's R&D spending climbed to 226 million yuan ($31.65 million), the highest since it went public on the Shanghai Stock Exchange in 2017. By the end of the year, it held 1,630 valid patents, including 142 invention patents.
A view of the intelligent manufacturing plant of Heng Lin Home Furnishings Co Ltd in Anji, Zhejiang province, in 2020. [Photo provided to chinadaily.com.cn]
Revenue surpassed 10 billion yuan for the first time in 2024, reaching 11.03 billion yuan — a 34.6 percent increase from a year earlier, according to its earnings report.
To navigate a complex global trade environment, Heng Lin has expanded its international footprint by establishing production bases in Vietnam and Switzerland, aiming to mitigate risks and improve operational efficiency. By the end of 2024, overseas assets totaled 5.77 billion yuan, accounting for 53.18 percent of its total assets.
Visitors check out the booth of Heng Lin Home Furnishings Co Ltd at an industrial expo in Vietnam in March. [Photo provided to chinadaily.com.cn]
The company has also built a global supply chain network, including 11 warehousing and logistics centers worldwide. Its overseas warehouses span 4 million square meters, enabling delivery within one to three days across the United States and strengthening competitiveness in cross-border e-commerce and bulk sales.
Heng Lin maintains long-term partnerships with leading global retailers such as Ikea, Nitori, Home Depot and Amazon. Its products are sold in more than 80 countries and regions.
