Zhejiang Hengxiang Toy Group Co., Ltd a national high-tech enterprise that produces wooden toys, with a registered capital of 100 million yuan and a construction area of over 100000 square meters. It currently produces 2 million sets of wooden toys annually and has more than 1000 employees. The company has over 2000 types of products, which are exported to countries and regions such as the United States, Europe, Australia, Southeast Asia, and Hong Kong, China.
In 2000, Xiang Shiping, an unwilling ordinary carpenter, came to Yunhe County, known as the "Kingdom of Wooden Play", with 1000 yuan and a dream of a better life, seeking entrepreneurial opportunities. He focused on the wooden toy industry after inspecting factories and considering his carpentry skills.
In Aug 2002, the factory moved to Guixi Village, Yunhe. In Sep 2003, Yunhe Shishun Toy Factory was founded with 30,000 yuan capital, starting small-scale production. Emphasizing product tech & quality, it gained praise from big enterprises & flourished.
In Aug 2002, the factory moved to Guixi, Yunhe. In Sep 2003, Yunhe Shishun Toy Factory launched with 30k capital & small-scale production. Emphasizing tech & quality, it gained praise & prospered. In May 2004, 560 sqm land was bought in Yunhe IP for a 1700 sqm factory. Completed in Oct 2005, the company began taking direct orders. With reputation & quality, its business improves & expands.
In 2008, driven by hometown loyalty, Xiangshiping returned to develop, purchasing a 3000+ sqm plant in Anren for renovation & founding Longquan Hengda Arts & Crafts Co. Ltd. with 2M yuan capital. Officially launched in June, it sparked hometown entrepreneurship. After 2 years of market expansion, business boomed, outgrowing Hengda's production space.
To meet production demands, in early 2010, the company acquired a 9900 sqm plant in Anrenxi West Industrial Park, covering 8975 sqm. Concurrently, Zhejiang Hengxiang Toy Group Co., Ltd. was established with 5M yuan capital & over 30M yuan assets, commencing operations on Dec 8, 2010.
In Jan 2014, 20,000 sqm land in Yangliuhe Industrial Park, Yunhe County, was acquired for a 25,000 sqm plant. Zhejiang Hengwang Crafts Co., Ltd. launched with 9M yuan capital in Jan 2014. Upholding innovation, it boasts top-tier production lines & high-end machinery. Operational in Jul 2016, it employs over 200 staff & 40 managers. Forecasted 2022 annual output: 60M yuan.
Hengxiang Phase II commenced in Apr 2017, investing over 45M yuan on 12,037 sqm land with a 23,514 sqm construction area. Post-completion, it will expand by over 50%, hiring >150 new staff. Aiming to establish the toy industry's most advanced production hub, it prioritizes toy brand development.
Longquan Hengji Wood Products Co., Ltd. was founded on Jun 24, 2020, commencing operations in 2021 & joining Longquan's designated-size enterprises. As a Hengxiang subsidiary, Hengji annually supplies semi-finished products, fostering upstream chain ties. It currently employs over 30 staff, projecting 2022 sales of >24M yuan.
Founded on Dec 1, 2020, Zhejiang Qiaoyi Toy Co., Ltd., a wholly-owned Hengxiang subsidiary, specializes in crafting diverse wooden toys for kids. Nestled in Dagu Industrial Park, Anren, Longquan, it boasts a 150M yuan investment, 34,186 sqm floor area, & 81,631.56 sqm construction. The project spans 3 phases; Phase 1, with 24,148.54 sqm slab, opened on Jun 11, 2021. In 2022, it joined Longquan's designated-size enterprises, posting 30.58M yuan in sales.
Hengxiang, a wooden toy leader in Anren, has been honored as "Top Industrial Enterprise," "Major Taxpayer," & "Top 10 Yield Contributor" for years. In 2022, it achieved 368M yuan sales & paid >15M yuan in taxes. Expanding, Hengxiang bolstered its capital by 50M yuan in Apr 2022, forming Zhejiang Hengxiang Toy Group Co., Ltd. with 100M yuan capital. It now comprises 4 subsidiaries: Hengwang, Hengji, Qiaoyi, & ShiShun.
There are currently 7 production lines with an annual output of 2 million sets of wooden toys and over 1000 employees. The company has more than 2000 types of products, which are exported to countries and regions such as the United States, Europe, Australia, Southeast Asia, and Hong Kong, China.
The company cooperates with Wal Mart, Disney and other brands to improve the popularity of Hengxiang and lay the foundation for accelerating the development of the enterprise.