“Pay more attention to this developing and growing region to get a better future and reward.” |
Jerry Hu, owner and CEO of the rapidly growing forklift manufacturer Hytsu Group, says hard work does not mean long hours at the office.
Hu answers about 300 emails a day and studies monthly reports by managers heading different departments in the Hytsu Group. He spends time welcoming Hytsu’s top dealers to the company’s Shanghai headquarters and arranging visits to overseas dealers and industry expos.
"I only work five days a week and eight to nine hours a day. Hard work does not mean long working hours in our team.
"I enjoy seeing our products shipped to different countries to meet people’s needs," he said.
Hytsu currently produces one to 25 ton diesel forklifts, one to 3.5 ton gas forklifts and one to three ton electric forklifts. Hytsu will introduce the S100 series of IC forklifts in June. A reach truck will be launched in 2008.
Hu studied economics at Anhui University in 1992. After graduating with an MBA from Anhui Science & Technology University in 1997, he worked for three years for a state-owned trading company and then for four years with the Anhui government.
"I knew a kind old man who owned a forklift company in Los Angeles. He was an artist.
"He came to China to get some art paper. There is a type of paper called ‘Xuan’ paper made in Anhui for drawing. I have lost touch with him since he retired but he taught me about the forklift industry. I discovered it was a fast growing industry internationally.
"I decided to invest in the industry when I started my business in Shanghai," he said.
Hu started the Hytsu Group with start-up capital of USD1 million in August 2001. He ran the business alone for the first year. Today Hytsu, headquartered in Shanghai's Waigaoqiao free trade zone, has 438 employees; 82 at its headquarters and 356 in its factories. Hytsu’s turnover was about USD45 million in 2006 and the manufacturer sold 2,012 forklifts. More than 200 dealers supply Hytsu products in 70 countries.
Although there were many opportunities in the materials handling industry, Hu said China needed time to be an industry leading player.
"Chinese companies need time to improve the quality [of forklifts] and service levels. But, after 10 years, Chinese forklifts will be brilliant.
Hu has a word of advice for investors.
"Pay more attention to this developing and growing region to get a better future and reward."
The acronym Hytsu spells out the group’s motto: Hard work Yields True SUccess.
It’s not all hard work for Hu, who enjoys light and easy music, reading about philosophy, spicy food and movies based on real people. He likes watching "Tom and Jerry" cartoons on DVD with his seven-year-old son, Nick.
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