Our Business
Passion has more than 30 product categories that can be divided in five different series, namely rattan-wood series, bamboo-wood series, medium-density fibreboard series, wood series and iron series. With strong design and development capabilities, we are able to create approximately 2,000 new designs annually.
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Production Facilities
Our production facilities are located in Longyan City, Fujian Province, the PRC, which has one of the larger forest bases in the PRC. This allows us to have easy access
to one of the important raw materials commonly used in our production process, quality wood, which is critical for some of our products.
We also have advanced equipment and machinery for our production capabilities and capacity.
| Maximum Capacity (Machine Hours) |
Utilisation Rate (%) |
|
| FY2007 | 1,380,000 | 42.1 |
| FY2008 | 1,435,200 | 63.7 |
| FY2009 | 1,435,200 | 81.4 |
Note: Our production capacity is calculated based on our machines operating at 10 hours a day for 6 days a week for a total of 46 weeks per annum. We have estimated
our production capacity and utilisation rate using the extent of utilisation of the machines used for the spray-painting, glazing and decorating stage of our production
process as most of our products have to undergo that process.
As we intend to expand our sales and distribution network and strengthen our "Passion" brand name within the PRC, we expect our sales volume in the domestic market to
increase significantly in the coming years.
Our existing production capacity will not be able to meet the expected growth in domestic demand for our products. In order to cater to the expected growth in sales
volume of our products in the domestic market, we intend to expand our production facilities to increase our production capacity by approximately 60% to 70%.