HAILIANG(SZ:002203) Xin Hua Wang·2025-10-14 05:06Core Insights - Hailiang Co., Ltd. reported impressive internationalization results in its 2025 semi-annual report, with a 50.77% year-on-year increase in revenue from the U.S. market and a 25.35% increase in overseas copper processing revenue, reaching 13.984 billion yuan [1] Group 1: Internationalization Strategy - The company has been pursuing internationalization for 20 years, establishing production bases in 23 countries and regions, which reflects a deep integration of technology, management, and culture [1] - The initial step in its globalization strategy was to set up a base in Vietnam, chosen for its geographical advantages, market potential, and favorable policies [9][8] - The company aims to enhance its capabilities through competition and cooperation, while also building a global production layout to mitigate trade friction risks [7][6] Group 2: Operational Achievements - Hailiang's production capacity in Vietnam has increased from 7,000-8,000 tons to 80,000-90,000 tons, growing over tenfold, with annual growth rates of 20-30% [15] - The company has established three regional headquarters in North America, Europe, and Southeast Asia, creating a comprehensive global production and sales network [19] - The overseas revenue proportion has risen to 40.95%, with total revenue reaching 87.387 billion yuan in 2024 [21] Group 3: Future Plans - The company plans to deepen its internationalization strategy over the next five years, focusing on maximizing the potential of its U.S. base and expanding into the African and Middle Eastern markets [30] - Hailiang aims to leverage its Southeast Asian bases to capture growth opportunities in emerging markets like India [30] - The company emphasizes that internationalization is not merely about capacity transfer but optimizing global resource allocation [30]