Changhong, a powerhouse in intelligent technology and smart home solutions, has secured a prestigious spot in the 2023 list of China’s 500 Most Valuable Brands, achieving a brand value of 203.968 billion yuan. This milestone, announced at the 2023 World Brand Conference in Beijing by the World Brand Lab, signifies a remarkable leap in Changhong’s valuation.
Changhong’s recent surge is attributed to its persistent enhancement of technology R&D, alongside an effective diversification strategy into emerging sectors like renewable energy, semiconductors, and computing storage. The intelligent control chip, MCU, which they developed in December 2022, has made significant strides in optimizing energy efficiency in household appliances. Coupled with the advancement of its smart home appliance range, Changhong has cultivated an environment of seamless integration for consumers.
Changhong’s interconnected ecosystem, involving seven publicly-traded companies and three companies listed on China’s New Third Board, has played a pivotal role in the company’s growth. It has also incubated 15 high-tech firms and caters to over 200 million users worldwide, serving more than 100 renowned brands.
Simultaneously, Changhong’s premium brand, CHiQ, launched a new brand proposition – “Smart with Style”. This innovative offering aims to blend intelligent technologies with stylish designs, providing an integrated home environment. CHiQ’s products are user-centric and enable device interconnectivity, allowing voice-command controls while maintaining a unique aesthetic appeal.
In parallel, Changhong has made significant strides in market expansion, with plans to add facilities in Mexico and Poland to its existing manufacturing units in Europe and Southeast Asia. It continues to broaden its portfolio outside of China, with a strong focus on developing new product displays, washing machines, and advanced Internet of Things (IoT) terminals.
The company’s diligent global expansion strategies have led to a considerable increase in export revenue in 2022. In the first half of 2023, Changhong reported over 30% growth in total output and over 25% in overall revenue in markets outside China. Sales revenue in Australia, Europe, Indonesia, and the Middle East have also seen significant rises.
Changhong’s extraordinary growth in brand value is indicative of its strategic positioning, technological prowess, and resonating brand philosophy. It’s clear that Changhong’s commitment to customer-centric intelligent manufacturing technologies is contributing to its escalating global success.