Dongcheng Receiving the Honor of 2024 Chinese Brand Annual Awards--China Power Tools No.1

December 18, the 2024 Chinese Brand Annual Awards was unveiled at the World Executive Summit in Hong Kong, China. With excellent market performance and deeply rooted brand influence, Jiangsu Dongcheng Power Tools Co., Ltd.(hereinafter referred to as "Dongcheng") has become one outstanding representative of China power tools industry. Receiving 2024 Chinese Brand Annual Awards--China Power Tools No.1, marked another authoritative recognition of our leadership in China power tool industry.

Chinese Brand Annual Awards, recognized as the "Oscars of Chinese Brands", is awarded by the industry authority--World Brand Lab. It was founded and first chaired by Prof. Robert Mundell, the Nobel Prize Laureate in Economics in 1999, wholly affiliated with the World Executive Group. World Brand Lab is dedicated to brand evaluation, brand communication and brand management, with its experts and consultants from Harvard University, Yale University, MIT and Cambridge University and other top universities in the world; its research results have become an important basis for intangible asset evaluation in the process of mergers and acquisitions of many enterprises.

The selection criteria of the Chinese Brand Annual Awards cover a wide range of dimensions such as market share, brand awareness, brand innovation, brand satisfaction and brand loyalty, etc. Three major categories of awards were finalized, namely, Chinese Brand Annual Awards No.1, China's Top 10 Influential Brands and six special individual awards.

Dongcheng's market performance leads China's power tool industry, with its sales ranking first in Chinese market for 11 consecutive years

Market performance is always the most direct test of brand strength. In recent years, Dongcheng adheres to the market demand-orientation, and constantly enhance technological innovation and product upgrading, to provide customers around the world with power tools with high-quality and high-performance. Up to now, we have more than 700 kinds of products, which are widely used in  fields including building decoration, home decoration, stone processing, shipbuilding industry, water conservancy project and so on.

Data show that in 2023 Dongcheng realized sales of 6.188 billion yuan, up 15.9% year-on-year, of which 5.226 billion yuan in the domestic market, up 11.7% year-on-year, and 962 million yuan in the overseas market, an increase of even more than 45.3% year-on-year. In the same year, our power tools whole machine sales reached 27.1 million units, ranking first in the China power tools market for 11 consecutive years. Besides, Dongcheng performed excellent in the face of the booming lithium tools market. In 2023, Dongcheng's domestic lithium tools sales amounted to 2.086 billion yuan, a year-on-year increase of 25.29%, ranking first in China lithium power tools for three consecutive years.

Forerunner in power tools industry with fruitful brand building

Brand is the crystallization precipitated from history.Since its establishment in 1995, Dongcheng has always adhered to the corporate mission of "Professional Power Tools, Genuine Services", and is committed to "China's Leading Company, Global Synchronization". Recent years have witnessed Dongcheng's specialization in brand building, with further enhancement in the brand awareness and reputation through the brand strategy upgrading, brand image renewal and a series of initiatives.

Stepping into 2024, Dongcheng's brand building is fruitful. In September, as the only representative of China power tools industry, we were selected for the first time as one of the Asia's 500 Most Influential Brands released by the World Brand Lab, which demonstrated the leadership and extraordinary strength of the enterprise brand in the industry. In October, Dongcheng was once again honored to be awarded the annual brand in the 2024 "THE GROWING OF THE GREAT BRAND" Brands Gala, as an outstanding representative of "Great Country Power" together with Mengniu Dairy, Lee Kum Kee and other well-known enterprises.

Winning the 2024 Chinese Brand Annual Awards--China Power Tools No.1 by World Brand Lab is not only an affirmation of Dongcheng's long-term leadership in China power tools industry, but also an authoritative recognition of our brand strength and market position. In the future, Dongcheng will continue to adhere to the spirit of craftsmanship and improve our products quality and service experience, leading the innovative development and technological upgrading of the industry. Meanwhile, we will actively undertake social responsibilities and promote the industry in the direction of green and sustainable development, contributing to the rise of Chinese brands.