FRAISA Annual Report 20/21

FRAISA China on the road to success Local competence meets high commitment FRAISA turned its attention to the Chinese market in 2013 al- ready: The Asian success story began with the establishment of a representative office in Shanghai, which was to be further strengthened in 2018 by becoming a wholly owned FRAISA subsidiary. Our team in China has grown steadily since then and looks after customers and sales partners with the aim of establishing a long-term presence on the Chinese market. A central tool store in Shanghai enables highest flexibility in dealing with inquiries and ensures that Chinese customers can be easily supplied with FRAISA high-performance tools, and be provided with substantial added value: the services offered, such as FRAISA ReTool ® and ConcepTool, increase customer benefits to a maximum. Since the transformation in 2018, turnover and market share have steadily increased – even in the pandemic-plagued year 2020, a turnover growth of 28 % was achieved. We owe this great success to the trusting relationship with customers and our local expertise. But not least, it is also the result of the ded- icated and professional work of our employees. Think globally and act locally Not only our customer base is growing steadily: FRAISA tools are recognized and increasingly used in more and more indus- tries in the Chinese market. This is particularly evident in the IT sector as well as in the automotive industry. We are extremely proud of winning the "Sino-Swiss Business Award 2019" – it once again underlined FRAISA's commitment to sustainable development in the Chinese market. In the medium term, we plan to continue accelerating growth and strengthening our presence in China over the next five years. In the medium term, we plan to continue to accelerate growth and strengthen our presence in the Chinese market over the next five years. Our expectations for 2025 are high: by enlarging our team and focusing on sales, we plan to increase annual sales steadily. We will also continue to optimize and develop our ser- vices. With these measures, we expect to increase our customer base three to fourfold, which will provide good opportunities for FRAISA's long-term, sustainable growth in China. [ 33 ]