Interview with Wang Minqi

Face2Face
Wang Minqi
Wang Minqi
President
Changzhou Wujin Wuyang Textile Machinery Co Ltd
Changzhou Wujin Wuyang Textile Machinery Co Ltd

What are the challenges facing the knitting machinery vertical, and what would be your formula to resolve them?

The challenges we face are high labour costs, competitive pressures, and that of markets developing slowly. As for formulas,
  • Formula 1: To win the trust of our customers with excellent quality. We adhere to the 'quality wins' principle.
  • Formula 2: To be proactive. We participate in various countries' exhibitions, not only in China, but also abroad every year.
  • Formula 3: To provide timely and qualified after-sales service.
  • Formula 4: To meet different customer demands for developing a more diversified range of products.
  • Formula 5: To provide a website in different languages, to open up every aspect of our product and our company to (the corresponding) customers.

What markets do you plan to penetrate into in the near future?

The answer would be: India and Turkey. India is expected to become the fastest-growing economy in the world. It has the biggest warp knitting market. The advantages of India are low labour costs, rich variety of yarn, traditional design techniques, and a huge domestic market. Turkey is different from India. The Turkish market is not that big, but Turkish people require better quality and timely after-sale service.

Any near-future investment plans?

With the Industry 4.0 wave and the implementation of 'Manufacturing in China 2025' development strategy under way, Wu Yang Textile Machinery actively engages in promoting, transforming and upgrading textile industry to the development of the automatic and the intelligent. Wu Yang Digital Machinery Company is moving to the 'German Industrial 4.0' and 'Manufacturing in China 2025' design, construction and layout. The investment of Wu Yang Digital Machinery Company so far is already 150 million yuan, the construction area is 35,000 square metres. It is equipped with first-class production equipment, including truss type industrial robots, automatic guided vehicle (AGV), stereoscopic warehouse, etc. In the future, robot - as the main body of the automatic production line - will change the manufacturing dependence on labour to further optimise production costs. The internet will speed up the production process. At the same time, management of the front supply chain, production plan, and management of back-end storage logistics will also rely on the internet, implement unmanned management, lower the storage, and transport channel costs.
Published on: 05/10/2015

DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.

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