Cigarette Factory Profits From Development of Competitive Brands

Source from:  -01/16/2004 01/16/2004

Huaiyin Cigarette Factory in east China’s Jiangsu Province profited greatly from the development of competitive cigarette brands in 2003. In 2003, Huaiyin Cigarette Factory focused efforts on strengthening the research and development of new products, market development, management and technological progress, making great achievements. In the year, the cigarette factory sold 17.5 billion (350,000 cases of) competitive Yipinmei brand cigarettes and 2.15 billion (43,000 cases of) competitive Huaxicun brand cigarettes, generating 2.235 billion yuan (269 million U.S. dollars) in taxes and profits, up 12 percent year-on-year. In particular, the amount of profits reached 518 million yuan (62.4 million U.S. dollars), up 15 percent year-on-year. Over recent years, Huaiyin Cigarette Factory has striven to improve the image of its brands and develop different grades of brand families. In July 2003, the cigarette factory presented a new product – Guoyan – priced at 550 yuan (66 U.S. dollars) per carton, which has been well received by consumers for its high quality, fine packaging and high reputation. Since its presentation to the market, 65 million (1,300 cases of) Guoyan cigarettes have been sold. In September, the cigarette factory presented another new product – Century Red Yipinmei – priced at 120 yuan (14.4 U.S. dollars) per carton, which has also been well received by consumers for its celebrative designing of packaging and attractive pricing. Since its presentation to the market, 120 million (2,400 cases of) Century Red Yipinmei cigarettes have been sold. So far, Guoyan and Century Red Yipinmei have become new points of economic growth for Huaiyin Cigarette Factory. Enditem SOURCE FROM: Huaiyin Daily newspaper