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Peak responds to cost pressures with innovation
Xu Zhida, the Chief Operating Officer of Peak Sporting Goods Co., Ltd., shared his thoughts with reporters about the positive impact of Quanzhou's recent policy initiatives aimed at encouraging innovation and supporting technological advancement. He expressed optimism that these measures will significantly accelerate the development of innovative enterprises, guiding large companies toward a future driven by innovation, transformation, and sustainable growth.
Xu emphasized that innovation is not just a trend but the core foundation for corporate survival and long-term success. "In today’s highly competitive market, companies must continuously innovate to stay relevant and grow," he said. Since 2005, when Peak first introduced the vision of becoming an international brand, the company has remained committed to innovation. Every new product launch has reflected this philosophy, showcasing the brand’s dedication to creativity and quality.
In recent years, Peak has made significant investments in research and development, establishing R&D centers in Guangzhou and Beijing, as well as setting up offices and innovation hubs in Los Angeles. These moves signal the company’s strong commitment to advancing its technological capabilities and enhancing its global competitiveness.
To address rising material costs, Xu introduced a strategic **order system** in 2010, which allowed the company to lock in costs for a quarter, providing stability amid volatile market conditions. "This approach helped us manage cost pressures more effectively," he explained. Additionally, in terms of financial management, Peak has developed partnerships with several banks, implementing **flexible settlement methods** and adopting a "locked-in exchange rate" strategy to safeguard the company’s financial value. These efforts have created a more efficient and resilient framework for cost control and long-term planning.
By focusing on innovation, strategic planning, and financial resilience, Peak is positioning itself for sustained growth and leadership in the global sporting goods industry.